Globalization
The process of businesses and economies becoming increasingly connected across national borders.
What is globalization?
Managing business activities when employees, customers, or operations involve more than one country.
What is international management?
The shared values, beliefs, behaviors, and practices of a group or society.
What is culture?
The term used to describe interactions between people from different cultures.
What is cross-cultural?
When a company begins operating or doing business in countries outside its home country, it is doing this.
What is going international?
This allows companies to sell products and services to customers in countries outside their home country.
What is International Trade
Managers working internationally need to understand differences in this because people in different countries may have different expectations and practices.
What is culture?
Cultural differences can affect this important part of business because people may interpret messages differently.
What is communication?
When people from different cultures misunderstand each other's expectations, this can occur in the workplace.
What is conflict or miscommunication?
A company may expand internationally to gain access to these.
What are new customers and markets?
This is one reason globalization creates opportunities for businesses.
What is access to new markets and customers?
This type of knowledge can help an international company understand local customers and business practices.
What is local knowledge?
Making generalized assumptions about people based on their membership in a particular cultural group.
What is stereotyping?
Managers may need to adjust this when working with employees from different cultures.
What is leadership style?
Differences in these can make international expansion more difficult for a company.
What are laws and regulations?
A company entering another country may have to deal with different political and economic systems.
What are international differences in political and economic environments?
Domino's uses local partners in many countries to help operate its international businesses.
What are master franchisees?
This cultural framework was developed by Dutch researcher Geert Hofstede.
What is Hofstede's cultural framework?
This framework examines cultural differences and their relationship to leadership and organizational practices.
What is the GLOBE framework?
A business arrangement in which a company allows another party to operate using its brand and business model.
What is franchising?
True or False: Globalization only affects large multinational corporations.
What is False?
Name TWO factors international managers need to consider when entering a foreign country.
What are culture, politics, economics, laws, regulations, labor markets, or consumer preferences?
Why should international managers avoid assuming that everyone from the same country behaves exactly the same way?
what is different cultures and stereotyping can lead to misunderstanding
Give ONE way a manager can prepare employees for working in another culture.
What is cross-cultural training?
Why might an international company work with a local partner instead of managing everything itself?
What is to understand the local culture and customers?