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PowerPoint Presentation to Accompany Chapter 5 of Management, 8/e John R. Schermerhorn, Jr . Prepared by: Michael K. McCuddy Valparaiso University Published by: John Wiley & Sons, Inc. Planning Ahead — Chapter 5 Study Questions.

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powerpoint presentation to accompany chapter 5 of management 8 e john r schermerhorn jr

PowerPoint Presentation to Accompany Chapter 5 ofManagement, 8/eJohn R. Schermerhorn, Jr.

Prepared by: Michael K. McCuddy

Valparaiso University

Published by: John Wiley & Sons, Inc.

planning ahead chapter 5 study questions
Planning Ahead — Chapter 5 Study Questions
  • What are the international management challenges of globalization?
  • What are the forms and opportunities of international business?
  • What are multinational corporations and what do they do?
  • What is culture and how does it relate to global diversity?
  • How do management practices and learning transfer across cultures?

Management 8/e - Chapter 5

study question 1 what are the international management challenges of globalization
Study Question 1: What are the international management challenges of globalization?
  • Key concepts in the challenges of globalization:
    • Global economy
    • Globalization
    • International management
    • Global manager

Management 8/e - Chapter 5

study question 1 what are the international management challenges of globalization4
Study Question 1: What are the international management challenges of globalization?
  • Europe
    • European Union (EU)
      • Political and economic alliance European countries that agreed to support mutual economic growth
      • Expanding to at 22 member countries with 375 million consumers

Management 8/e - Chapter 5

study question 1 what are the international management challenges of globalization5
Study Question 1: What are the international management challenges of globalization?
  • The Americas
    • North American Free Trade Agreement (NAFTA)
      • Agreement for free flow of goods and services between the Canada, Mexico, and United States
    • Free Trade of the Americas (FTAA) — Alaska to Chile — is a possibility

Management 8/e - Chapter 5

study question 1 what are the international management challenges of globalization6
Study Question 1: What are the international management challenges of globalization?
  • Asia and the Pacific Rim
    • Economic power of China and Japan
    • Growth in other Pacific Rim countries
    • Asian countries represent a third of the global marketplace

Management 8/e - Chapter 5

study question 1 what are the international management challenges of globalization7
Study Question 1: What are the international management challenges of globalization?
  • Africa
    • Increased attention to stable countries
    • Beckons international business
    • South African Development Community (SADC) links 14 countries in trade and economic development

Management 8/e - Chapter 5

study question 2 what are the forms and opportunities of international business
Study Question 2: What are the forms and opportunities of international business?
  • Reasons for engaging in international business:
    • Profits
    • Customers
    • Suppliers
    • Capital
    • Labor

Management 8/e - Chapter 5

study question 2 what are the forms and opportunities of international business9
Study Question 2: What are the forms and opportunities of international business?
  • Market entry strategies involve the sale of goods or services to foreign markets but do not require expensive investments.
  • Types of market entry strategies:
    • Global sourcing
    • Exporting
    • Importing
    • Licensing agreement
    • Franchising

Management 8/e - Chapter 5

study question 2 what are the forms and opportunities of international business10
Study Question 2: What are the forms and opportunities of international business?
  • Direct investment strategies require major capital commitments but create rights of ownership and control over foreign operations.
  • Types of direct investment strategies:
    • Joint ventures
    • Foreign subsidiaries

Management 8/e - Chapter 5

study question 2 what are the forms and opportunities of international business11
Study Question 2: What are the forms and opportunities of international business?
  • Criteria for choosing a joint venture partner:
    • Familiarity with your firm’s major business.
    • Strong local workforce.
    • Future expansion possibilities.
    • Strong local market for partner’s own products.
    • Good profit potential.
    • Sound financial standing.

Management 8/e - Chapter 5

study question 2 what are the forms and opportunities of international business12
Study Question 2: What are the forms and opportunities of international business?
  • Complications in the global business environment:
    • Environment is complex, dynamic, and highly competitive.
    • Global business executives must deal with differences in the environment of business in different countries.
    • World Trade Organization resolves trade and tariff disputes among countries.
    • Protectionism can complicate global trading relationships.

Management 8/e - Chapter 5

study question 3 what are multinational corporations and what do they do
Study Question 3: What are multinational corporations and what do they do?
  • A multinational corporation (MNC) is a business with extensive international operations in more than one foreign country.

Management 8/e - Chapter 5

study question 3 what are multinational corporations and what do they do14
Study Question 3: What are multinational corporations and what do they do?
  • Mutual benefits for host country and MNC:
    • Shared growth opportunities
    • Shared income opportunities
    • Shared learning opportunities
    • Shared development opportunities

Management 8/e - Chapter 5

study question 3 what are multinational corporations and what do they do15
Study Question 3: What are multinational corporations and what do they do?
  • Host country complaints about MNCs:
    • Excessive profits
    • Domination of local economy
    • Interference with local government
    • Hiring the best local talent
    • Limited technology transfer
    • Disrespect for local customs

Management 8/e - Chapter 5

study question 3 what are multinational corporations and what do they do16
Study Question 3: What are multinational corporations and what do they do?
  • MNC complaints about host countries:
    • Profit limitations
    • Overpriced resources
    • Exploitative rules
    • Foreign exchange restrictions
    • Failure to uphold contracts

Management 8/e - Chapter 5

study question 3 what are multinational corporations and what do they do17
Study Question 3: What are multinational corporations and what do they do?
  • Ethical issues for MNCs:
    • Corruption — illegal practices that further one’s business interests.
    • Sweatshops — employing workers at low wages for long hours and in poor working conditions.
    • Child labor — full-time employment of children for work otherwise done by adults.
    • Sustainable development — meeting current needs without compromising future needs.

Management 8/e - Chapter 5

study question 4 what is culture and how does it relate to global diversity
Study Question 4: What is culture and how does it relate to global diversity?
  • Culture
    • The shared set of beliefs, values, and patterns of behavior common to a group of people.
  • Culture shock
    • Confusion and discomfort a person experiences in an unfamiliar culture.
  • Ethnocentrism
    • Tendency to consider one’s own culture as superior to others.

Management 8/e - Chapter 5

study question 4 what is culture and how does it relate to global diversity19
Study Question 4: What is culture and how does it relate to global diversity?
  • Stages in adjusting to a new culture:
    • Confusion
    • Small victories
    • The honeymoon
    • Irritation and anger
    • Reality

Management 8/e - Chapter 5

study question 4 what is culture and how does it relate to global diversity20
Study Question 4: What is culture and how does it relate to global diversity?
  • Popular dimensions of culture:
    • Language
      • Low-context cultures and high-context cultures
    • Interpersonal space
    • Time orientation
      • Monochronic cultures and polychronic cultures
    • Religion
    • Contracts and agreements

Management 8/e - Chapter 5

study question 4 what is culture and how does it relate to global diversity21
Study Question 4: What is culture and how does it relate to global diversity?
  • Values and national cultures (Hofstede):
    • Power distance
    • Uncertainty avoidance
    • Individualism-collectivism
    • Masculinity-femininity
    • Time orientation

Management 8/e - Chapter 5

study question 4 what is culture and how does it relate to global diversity22
Study Question 4: What is culture and how does it relate to global diversity?
  • Understanding cultural differences (Trompenaars):
    • Relationships with people:
      • Universalism versus particularism
      • Individualism versus collectivism
      • Neutral versus affective
      • Specific versus diffuse
      • Achievement versus prescription
    • Attitudes toward time — sequential and synchronic views.
    • Attitudes toward environment — inner-directed and outer-directed cultures.

Management 8/e - Chapter 5

study question 5 how do management practices and learning transfer across cultures
Study Question 5: How do management practices and learning transfer across cultures?
  • Comparative management
    • How management systematically differs among countries and/or cultures.
  • Global managers
    • Need to successfully apply management functions across international boundaries.

Management 8/e - Chapter 5

study question 5 how do management practices and learning transfer across cultures24
Study Question 5: How do management practices and learning transfer across cultures?
  • Planning and controlling
    • Complexity of international environment makes global planning and controlling challenging.
    • Planning and controlling risks:
      • Currency risk
      • Political risk

Management 8/e - Chapter 5

study question 5 how do management practices and learning transfer across cultures25
Study Question 5: How do management practices and learning transfer across cultures?
  • Organizing and leading
    • Multinational organization structures
      • Global area structure
      • Global product structure
    • Staffing international operations
      • Competent locals
      • Expatriates

Management 8/e - Chapter 5

study question 5 how do management practices and learning transfer across cultures26
Study Question 5: How do management practices and learning transfer across cultures?
  • Are management theories universal?
    • U.S. management theories may be ethnocentric.
      • Participation and individual performance are not emphasized as much in other cultures.
    • Not all Japanese management practices can be applied successfully abroad.

Management 8/e - Chapter 5

study question 5 how do management practices and learning transfer across cultures27
Study Question 5: How do management practices and learning transfer across cultures?
  • Global organizational learning:
    • Companies can and should learn from each other.
    • Readiness for global organizational learning varies based on managerial attitudes.
      • Ethnocentric attitudes
      • Polycentric attitudes
      • Geocentric attitudes
    • Be alert, open, inquiring, but always cautious.

Management 8/e - Chapter 5

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