Multinational Management - ANS The formulation of strategies and the design of management systems that successfully take advantage of international opportunities and that respond to international threats
Multinational Company - ANS Any company that engages in business functions b...
Multinational Management - ANS The formulation of strategies and the design of
management systems that successfully take advantage of international opportunities and that
respond to international threats
Multinational Company - ANS Any company that engages in business functions beyond its
domestic borders
Globalization - ANS The world-wide trend of cross-border economic integration that allows
businesses to expand beyond their domestic boundaries
Developed Countries - ANS Countries with mature economies, high GDPs, and high levels
of trade and investment
Developing Countries - ANS Countries with economies that have grown extensively in the
past two decades
Transition Economies - ANS Countries in the process of changing from
government-controlled economic systems to free market or capitalistic systems
Emerging Markets - ANS Countries that are currently between developed and developing
countries and are rapidly
General Agreement on Tariffs and Trade - ANS Tariff negotiations among several nations
that reduced the average worldwide tariff on manufactured goods
World Trade Organization - ANS A formal structure for continued negotiations to reduce
trade barriers and a mechanism for settling trade disputes
Regional Trade Agreements - ANS Agreements among nations in a particular region to
reduce tariffs and develop similar technical and economic standards
European Union - ANS European Free Trade Area, allow for ideas, people and goods to
bypass borders
, North American Free Trade Agreement - ANS Multilateral strategy that links the US,
Canada, and Mexico, in an economic trade bloc that allows freer exchange of goods and
services
Asia-Pacific Economic Cooperation - ANS A confederation of 19 nations with less specific
agreements on trade facilitation in the Pacific region
Foreign Direct Investment - ANS Multinational firm's ownership, in part or in whole, of an
operation in another country
ISO 9000:2000 - ANS The current name for the technical and quality standards of the
International Organization for Standardization
ISO 14000 - ANS The current name for the environmental protection standards of the
International Organization for Standardization
Global Mindset - ANS Mindset that requires managers to think globally but act locally
Strategy - ANS The maneuvers or activities that managers use to sustain and increase
organizational performance
Strategy Formulation - ANS Process by which managers select the strategies to be used
by their company
Strategy Implementation - ANS All the activities that managers and an organization must
perform to achieve strategic objectives
Culture - ANS The pervasive and shared beliefs, norms, and values that guide the
everyday life of a group
Cultural Norms - ANS Prescribed and proscribed behaviors, telling us what we can and
cannot do
Cultural Values - ANS values that tell us such things as what is good, what is beautiful,
what is holy, and what are legitimate goals in life
Cultural Beliefs - ANS Our understanding about what is true
Cultural Symbols - ANS These may be physical such as flags or holy artifacts, or in the
workplace they may be things such as size and location
Cultural Stories - ANS Include such things such as nursery rhymes and traditional legends
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