multinational/international corporations Show organizations that conduct business operations across national borders Global considerations impact virtually all strategic decisions firms' products and services have to be competitive on a worldwide basis, not just local basis strategic management process for multinational corp. - same as for domestic firms,
but more complex due to more variables and relationships - limitless external factors & their complexities-> increase products and geographical areas served - more time & efforts are required to identify & evaluate the trends - geographic distance, cultural & national differences > difficult to implement strategy Advantages of international operations - gain new customers -> increase revenue - reduce cost - competitors may not exist - lower tax - economies of scales - enhance prestige -> improve negotiating power disadvantages of international operations
- different & little understood social/cultural/demographic/political/legal... factors - not supported by nationalistic factions - weaknesses of foreign competitors are overestimated & strengths are underestimated - different language, cultural & value system -> barrier to communication & problems managing people -gaining understanding regional organization is difficult but often required - complicated two different monetary systems ►America’s economy is becoming much less American. ► A world economy and monetary system are emerging. ► Markets are shifting rapidly and in many cases converging in tastes, trends, and prices. a process of doing business worldwide includes designing, producing, marketing products with global needs in mind business relation in Japan group harmony, social cohesion business relation in China business relation in South Korea harmony based on respect of hierarchical relationship workers are unionized more vacation, break time, guaranteed permanent employment six-month trial period team spirit is difficult - employers seek workers who are agreeable, respectful, obedient rather than innovative, creative, and independent - stress collectivism, continuity, cooperation, belongingness, formality and doing exactly what you are told Mexico business culture (cont.) - business meeting & entertaining at restaurant - do not accept criticism and change easily - ignore rules - tardiness is common - bring gift such as flowers and sweets (avoid red flowers), given gift-> open immediately - ask personal questions - negotiations : haggling Wa - importance of group loyalty & consensus - all members of a group agree and cooperate - managers are reserved, quiet, distant and introspective - a person's age and status is honored - greeting: bow - giving gift: chocolates or small cakes, items in odd number except for 9, not potted plants - remove shoes before entering home Japan- Business culture (cont.) - conversation during dinner is not preferred - hard to say "No" -prefer business on the basis of personal relationship - impolite to introduce yourself Brazil - Business culture greeting: men-handshakes and eye contact, women- kisses- left to right - avoid purple and black - 3 minutes - 1 hour late - avoid embarrassing publicly - appointments are changed or cancelled at last minutes - dress well Germany- business culture - invited to home is an honor - gift: not red rose (romantic), imported wine , from Italy, France - remain standing until invited to seat, do not rest elbow on the table - do not need personal relationship to do business - not-open-door office Germany- business culture (cont.) - direct, punctual, rude to cancel/change appointment at last minute - direct eye contact - detailed oriented - business decision making is autocratic & held at the top - greeting: shake hands, kiss on checks, direct eye contact - gift: sweets, not flowers - remove shoes b/f entering - dinning: leave some food -business built on personal relationship - offer tea/coffee when meeting - appearance is important: wear conservative Egypt - Business culture (cont.) - hierarchy & ranks are important: highest ranking person makes decisions - open-door policy (meeting) - society slow and bureaucratic - respect age & experience - haggling
negotiation - hard to say "no" - women should cover up well - greeting: formal, first to the oldest, handshake; look toward the ground when greeting - sense of humor - gift: fruit baskets. never give clocks, handkerchief, flowers, straw sandals--> funerals - Do not wrap gifts in white, blue or black - 4 is unlucky #. 8 is the luckiest China - Business culture (cont.) - remove shoes b/f entering the house - leave food, make slurping or belching sounds - do not do business with people they do not know - Meals and social events are not place for business - punctuality - mobile phones rings during meeting - confrontational, they don't say "no", but say "will see", " think about it" - shrewd negotiator, room for negotiation
- greeting: handshake. opposite gender seldom shake hands - don't like to say "no" - gift: cash. - yellow, green, red are lucky colors - do not make gift made of leather to Hindu, made of pigskin or alcoholic for Muslim - gift not opened when received India - Business Culture (cont.) - remove shoes - politely turn down the first offer of tea, coffee
& snack. they will ask again & again - Hindu & Sikhs don't eat beef. Many are vegetarian. Muslim do not eat pork or drink alcohol - Table manners are formal, but much food is eaten with fingers - leave food - may be asked to wash hands b/f and after eating - use right hand to eat - business with trusted and respected relationship - punctuality is important - do not trust legal system. Someone's word is sufficient to make an agreement - titles are important (professor, doctor..) -use right hand fir giving credit cards Nigeria- Business Culture - Christians live in the south, Muslim in the north - Christmas and Easter are national holidays - working hours vary from north to south. Muslims are not working on Friday - extended family is still the backbone - hierarchy
& seniority are important - most senior is greeted and served first, make decision for the extended family Nigeria- Business Culture (cont) - greeting: handshake. Muslims do not shake hands with the opposite sex - do not use first name readily - giving gift is common & expected. gifts from a man to a woman has to say from the man's mother - outgoing & friendly - young girls & sugar daddy is needed to stop to prevent AIDS Which of the following is a potential advantage of conducting international operations quizlet?Potential advantages to initiating, continuing, or expanding international operations is that foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.
Which of the following US industries is not yet greatly challenged by foreign competitors?44) The U.S. furniture manufacturing industry is not yet greatly challenged by foreign competitors.
Are organizations that conduct business operations across national borders?Organizations that conduct business operations across national borders are called international firms or multinational corporations.
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Mass communication and high technology have ________ in diverse cultures worldwide.
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