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CHAPTER 5
Managing in the Global Arena
CHAPTER OUTLINE
I.
II.
III.
The population overseas is large and growing fast, thus the need to deal with the
challenges of global markets.
IV.
Wal-Mart, the worlds number one retailer, is facing problems the Japanese
marketplace.
i.
ii.
iii.
prohibit
the
V.
b.
etc., in
B.
MNCs
C.
D.
E.
VI.
1. Influencing people within a MNC is more complex and challenging than with a
domestic organization.
2. To successfully influence people, MNC managers should:
a.
Acquire a working knowledge of the languages used in countries that
house foreign operations.
b.
Understand the attitudes of people in countries that house foreign
operations.
c.
Understand the needs that motivate people in countries housing foreign
operations.
3. Hofstede identified five dimensions of national culture variations:
a.
power distance (society uphold unequal distribution of power)
b.
uncertainty avoidance (society feel threatened by uncertainties)
c.
individualism and collectivism (society operate individually or group)
d.
masculinity and femininity (traditional masculine or feminine values)
e.
short-term and long-term orientation (short-run success to long-run)
Controlling Multinational Corporations
1. As with domestic corporations, control in MNCs requires that standards be set,
performance be measured and compared to standards, and corrective action be
taken if necessary.
2. Control of an MNC, however, has additional complexities:
a.
Special Difficulties - Different currencies.
b.
Improve Communications - Organizational units with MNCs are generally
more geographically separated thus requiring careful design of the
communication network or information system that links them.
Transnational Organizations
1. Transnational organizations, also known as global organizations, take the entire
world as their marketplace.
Essay Questions
1. Globalization is an inevitable trend in present day business scenario. In this context
4
discuss what globalization is, whether it is an option for business firms, and the various
forms in which globalization take place.
(a)
(b)
(c)
Power distance
Uncertainty avoidance
Individualism and collectivism
Masculinityfemininity
Short-termlong-term orientation
6. Discuss the importance of respecting core human rights in maintaining ethical practices in
international management situations.
All people deserve an opportunity to achieve economic advancement and an improved standard of
living. All people have the right to be treated with respect. Companies have guidelines on
minimum wage comparable to existing individual country standards; cracking down on child
labor; establishing a maximum of sixty hours in the work week with at least one day off; and
elimination of forced labor, harassment, abuse and discrimination in the workplace.