Global Management Notes

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GLOBAL MANAGEMENT NOTES – CLASS 4
Chapter 6 – 20
Chapter 3 – 20
Chapter 2 - 15
Chapter 1 – 15 q
M/C // reading in textbook

Global Dimensions of Management

Chapter 3 – part 2
*know about Enron*

Controlling the MNC’s

* 1977 US Foreign Corrupt Practices Act prohibits American multinational corporations (MNCS) from engaging in bribery and corrupt practices abroad

* 1998 Canadian Corruption of Foreign Public Officials Act makes it illegal for firms and their managers to engage in corrupt practices overseas.

Universal; Values found in ethically minded Companies
1. Integrity : being totally honest in everything that the company says and does; 2. Accountability : taking personal responsibility for its actions; 3. Trust: the foundation of positive relationships within and outside company.

Culture as a Factor in Global Management

* Culture is one of the most difficult concepts to understand and apply to the global business environment. * Customs, values, and ethical standard’s vary from person to person, company to company and even society to society. * Ethical issues that arise from international business activities often differ significantly from those that evolve from domestic business activities.

Definition of Culture
* Culture is the shared set of beliefs values and patterns of behavior common to a group of people * Each nation has a distinctive culture and distinctive beliefs about what business activities are acceptable or unethical * Ethnocentrism is the tendency to consider one’s own culture as superior to others.

Culture shock: It is the confusion and discomforts a person experiences when in an unfamiliar culture

Cultural Intelligence is the ability to accept and adapt to new cultures.

* Culture consists of everything in our surroundings that is made by people – both tangible items and intangible things like concepts and values. For example ; * Language , religion...
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