5. Managing in a Global Environment

Viewing the world solely through your own perspectives, leading to an inability to recognize differences between people.

• Parochialism

• Ethnocentric Attitude

• Polycentric Attitude

• Geocentric Attitude

The Parochialism belief that the best work approaches and practices are those of the home country.

• Parochialism

• Ethnocentric Attitude

• Polycentric Attitude

• Geocentric Attitude

The view that the managers in the host country know the best work approaches and practices for running their business.

• Parochialism

• Ethnocentric Attitude

• Polycentric Attitude

• Geocentric Attitude

A world-oriented view that focuses on using the best approaches and people from around the globe.

• Parochialism

• Ethnocentric Attitude

• Polycentric Attitude

• Geocentric Attitude

Trading Alliances

A union of 27 European nations created as a unified economic and trade entity

• European Union (EU)

• Euro

• Nations (ASEAN)

• North American Free Trade Agreement (NAFTA)

Trading Alliances

A single common European currency.

• European Union (EU)

• Euro

• Nations (ASEAN)

• North American Free Trade Agreement (NAFTA)

Trading Alliances

A trading alliance of 10 Southeast Asian nations.

• European Union (EU)

• Euro

• Nations (ASEAN)

• North American Free Trade Agreement (NAFTA)

Trading Alliances

An agreement among the Mexican, Canadian, and U.S. governments in which certain barriers to trade have been eliminated.

• European Union (EU)

• Euro

• Nations (ASEAN)

• North American Free Trade Agreement (NAFTA)

Global Trade Mechanisms:

A global organization of 153 countries that deals with the rules of trade among nations.

• World Trade Organization (WTO)

• International Monetary Fund (IMF)

• World Bank Group

• Organization for Economic Cooperation and Development (OECD)

Global Trade Mechanisms:

An organization of 185 countries that promotes international monetary cooperation and provides advice, loans, and technical assistance.

• World Trade Organization (WTO)

• International Monetary Fund (IMF)

• World Bank Group

• Organization for Economic Cooperation and Development (OECD)