Chap glossary for Certo's Modern Management, 9ed'

1
Culture
Direct investing
Domestic organization
Ethnocentric attitude
Exporting
Geocentric attitude
Host country
Importing
International joint venture
International management
International market agreement
International organization
License agreement
Multinational corporation
Parent company
Polycentric attitude
Repatriation
Transnational organizations
2
A culture is the set of characteristics of a
given group of people and their environment.
3
Direct investing is using the assets of one
company to purchase the operating assets of
another company.
4
A domestic organization is a company that
essentially operates within a single country.
5
The ethnocentric attitude reflects the belief
that multinational corporations should regard
home-country management practices as superior to
foreign-country management practices.
6
Exporting is selling goods or services to another
country.
7
The geocentric attitude reflects the belief that
the overall quality of management
recommendations, rather than the location of
managers, should determine the acceptability of
management practices used to guide multinational
corporations. The geocentric attitude is
considered most appropriate for long-term
organizational success.
8
The host country is the country in which an
investment is made by a foreign company.
9
Importing is buying goods or services from
another country.
10
An international joint venture is a partnership
formed by a company in one country with a company
in another country for the purpose of pursuing
some mutually desirable business undertaking.
11
International management is the performance of
management activities across national borders.
12
An international market agreement is an
arrangement among a cluster of countries that
facilitates a high level of trade among these
countries.
13
An international organization is a company
primarily based within a single country but
having continuing, meaningful transactions in
other countries.
14
A license agreement is a right granted by one
company to another to use its brand name,
technology, product specifications, and so on in
the manufacture or sale of goods and services.
15
A multinational corporation (MNC) is a company
that has significant operations in more than one
country.
16
The parent company is the company investing in
international operations.
17
The polycentric attitude reflects the belief that
because foreign managers are closer to foreign
organizational units, they probably understand
them better, and therefore foreign management
practices should generally be viewed as more
insightful than home-country management practices.
18
Repatriation is the process of bringing
individuals who have been working abroad back to
their home country and reintegrating them into
the organizations home-country operations.
19
Transnational organizations also called global
organizations, take the entire world as their
business arena.