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Chapter
5
G
L
O
S
S
A
R
Y
EXIT Glossary
Modern Management, 9th edition
Click on terms for definitions
Culture
Direct investingDomestic organization
Ethnocentric attitude
Exporting
Geocentric attitudeHost country
ImportingInternational joint venture
International management
International market agreement
International organization
License agreement
Multinational corporation
Parent companyPolycentric attitude
RepatriationTransnational organizations
© Prentice Hall, 2002
RETURN to Chapter terms EXIT Glossary
A culture is the set of characteristics of a given group of people and their
environment.
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Direct investing is using the assets of one company to purchase the operating assets
of another company.
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A domestic organization is a company that essentially operates within a single
country.
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The ethnocentric attitude reflects the belief that multinational corporations
should regard home-country management practices as superior to foreign-country
management practices.
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Exporting is selling goods or services to another country.
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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.
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The host country is the country in which an investment is made by a foreign
company.
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Importing is buying goods or services from another country.
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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.
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International management is the performance of management activities
across national borders.
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An international market agreement is an arrangement among a cluster of countries that facilitates a high level of trade among
these countries.
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An international organization is a company primarily based within a single
country but having continuing, meaningful transactions in other countries.
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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.
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A multinational corporation (MNC) is a company that has significant operations in
more than one country.
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The parent company is the company investing in international operations.
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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.
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Repatriation is the process of bringing individuals who have been working abroad
back to their home country and reintegrating them into the organization’s
home-country operations.
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Transnational organizations also called global organizations, take the entire world
as their business arena.