ADM 1100 Lecture Notes - Lecture 3: International Monetary Fund, World Trade Organization, Multinational Corporation
15 Dec 2019
School
Department
Course
Professor
Document Summary
Parochialism: viewing the world only from your perspective, leads to inability to notice differences between people. 3 global attitudes: ethnocentric: home country knows best, polycentric: host country knows best, geocentric: collection of best practices from around the globe. Regional trading agreements: eu, nafta, asean association of southeast asian nations. Organization for economic cooperation and development (oecd) Multinational corporation (mnc): operates in multiple countries ex. Multidomestic corporations operates in more than one country but decentralizes management to local country. Global company: centralizes management in home country. Foreign subsidiary: setting up a separate and independent production facility or office in a foreign country. Joint venture: strategic alliance where partners create separate independent organizations. Strategic alliance: partnership between organization and foreign company partner(s) to share resources and knowledge. Franchising: an organization give another the right to use its name and operating methods. Licensing: an organization gives another the right to make or sell its products using its technology or product specifications.
