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| A manager who works outside his or her native country. |
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| Formal and informal institutions that govern individual and firm behavior. |
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| A political system in which citizens elect representatives to govern the country on their behalf. |
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| A political system in which one person or party exercises absolute political control over the population. |
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| A legal tradition that uses comprehensive statutes and codes as a primary means to form legal judgments. |
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| A legal tradition that is shaped by precedents from previous judicial decisions. |
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| A legal system based on religious teachings. |
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| Exclusive legal right of inventors to derive income from their inventions through activities such as manufacturing, licensing, or selling. |
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| Exclusive legal right of firms to use specific names, brands, and designs to differentiate their products from others. |
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| Exclusive legal right of authors and publishers to publish and disseminate their work. |
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| An economy in which theoretically all factors of production are state-owned and state-controlled, and all supply, demand, and pricing are planned by the government. |
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| The collective programming of the mind which distinguishes the members of one group or category of people from another. |
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| English, most developed economies speak English. |
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| A culture in which communication is usually taken at face value without much reliance on unspoken conditions or assumptions. |
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| A culture in which communication relies heavily on the underlying unspoken conditions or assumptions, which are as important as the words used. |
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| Dimensions Approach to studying culture |
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Power Distance: Acceptance of unequal distribution of power
Individualism: Individual vs Collective Identity
Masculinity: Role differentiation along gender lines
Uncertainty Avoidance: Willingness to take risks and embrace change
Long-Term Orientation: Saving for future betterment
Dimensional approach is informative, but just a starting point to help us try and understand the role culture plays in business |
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| The idea that an individual’s identity is fundamentally tied to the identity of his or her collective group. |
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| The idea that the identity of an individual is fundamentally his or her own. |
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| The absolute belief that “there is only one set of Ethics (with a capital E), and we have it.” |
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| Donaldson’s guiding principles to Ethics |
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Respect for Human Dignity
Respect for Local Traditions
Respect for Institutional Context |
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| Are US firms less corrupt? What needs to be done to eradicate corruption internationally? |
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| no, if every country criminalized bribery and every firm resists corruption |
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| An individual’s ability to understand and adjust to new cultures. |
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| Turning over an activity to an outside supplier that will perform it on behalf of the focal firm. |
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| Money saved by US firms by outsourcing to India |
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| read page 55 in your book |
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| The resource-based framework that focuses on the value (V), rarity (R), imitability (I), and organizational (O) aspects of resources and capabilities. |
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1. Tokyo-Yokohama, Japan
2. Jakarta, Indonesia
3. Delhi, India
4. Manila, Philippines
5. Seoul-Incheon, South Korea
6. Shanghai, China
7. Karachi, Pakistan
8. Beijing, China
9. New York, USA
10. Guangzhou-Foshan, China
11. Sao Paulo, Brazil
12. Mexico City, Mexico
13. Mumbai, India
14. Osaka-Kobe-Kyoto, Japan
15. Moscow, Russia
16. Dhaka, Bangladesh
17. Cairo, Egypt
18.Los Angeles, USA
19. Bangkok, Thailand
20. Kolkata, India |
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Mastering global business knowledge helps advance your employability and career in an increasingly competitive global economy. An ignorant individual is
unlikely to emerge as a winner in global competition. |
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| Expertise in global business is often a prerequisite to join the top ranks of firms. In order to set yourself apart as an ideal candidate, you will need a mastery of global business knowledge. |
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| Know the pyramid of the Global Economy |
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Definition
top: per capita GDP/GNI > $20,000.Approximately 1 billion people
middle: per capita GDP/GNI $2,00-$20,00. Approximately 1 billion people.
bottom: per capita GDP/GNI <$2,00. Approximately 5 billion people. |
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| MNE (Multinational Enterprise |
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| A firm that engages in foreign direct investment and operates in multiple countries. |
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| GDP (Gross Domestic Product) |
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| The sum of value added by resident firms, household, and governments operating in an economy |
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| A leading perspective in global business that suggests that firm performance is, at least in part, determined by its internal resources and capabilities. |
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| A leading perspective in global business that suggests that firm performance is, at least in part, determined by the institutional frameworks governing firm behavior around the world. |
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| Formal and Informal Institutions: Comparison between USA and India. |
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| Levelled Playing Field (Ch. 1 TWIF). Be prepared to explain what this means. |
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| Flatteners #2 and #10 (Ch. 2 TWIF). Explain what they are and their implications. |
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