ADM 1300 Chapter Notes - Chapter 4: North American Free Trade Agreement, Free Trade Area Of The Americas, Parochialism

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Staff

Document Summary

Managing in a global environment: managers must deal with cultural, economical, and political di erences in a global market and successful global management requires enhanced sensitivity to di erent national customs and practices. Parochialism: view the world narrowly through one"s own perspective leading to an inability to recognize di erences among people. Ethnocentric attitude: the belief that the best work approaches and practices are those of the home country (simple structure, tightly controlled but ine ective/ in exible management). Polycentric attitude: the view that managers in the host country knows the best work approaches and practices for running the business. Geocentric attitude: a world-oriented view that focuses on using the best approach and people from around the world (regardless of origin) A manager needs a global mindset: some issued faced that are di erent are inspection regulations, labelling, legal requirements, and labour standards, when trade is allowed to ow freely, countries bene t from economical growth and productivity gains.