Final exam questions – International Business_Fall 2013 (18.01.2014) 1. What are the economic and political arguments for regional economic integration and impediments to integration? Describe each argument and impediment shortly. The economic and political arguments for Regional Economic Integration are trade diversion and geography. This would exclude third world countries from being exposed to trade tariffs in the international market. Other than that because of being close to each other‚ the
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EPRG Framework A firm needs to an appropriate orientation for the world market. While looking for orientation‚ it is important to understand the EPRG framework. Ethnocentric (E) orientation refers to home country organization. Here the firm ’s reference point is the home market. Generally‚ when the firm is ethnocentric‚ it looks for foreign markets to sell its currents products and surpluses. There is hardly any or minimal product adaptation for the foreign markets. Maybe some minor changes are
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universal syndrome of attitudes and behaviors‚ typically including in-group favoritism. Empirical evidence suggests that a predisposition to favor in-groups can be easily triggered by even arbitrary group distinctions and that preferential cooperation within groups occurs even when it is individually costly. The authors study the emergence and robustness of ethnocentric behaviors of in-group favoritism‚ using an agent-based evolutionary model. They show that such behaviors can become widespread
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Introduction The globalization of Business has had a significant impact on human resource management. The rapid expansion of global trade & geographical diversification are forcing organizations for the change in their management structure and human resource management. Another factor driving the need for international assignments is the global merger & acquisitions. Acquisitions of new business in an international context creates the need for appropriate staffing and allocation of human resources
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them in order to avoid discrimination in the workplace. 2) Would you describe Green’s and Martin’s attitudes as being ethnocentric‚ polycentric‚ or geocentric? What factors do you think have influenced their attitudes? HG as an American company is secular by nature‚ but its activities retain Christian values. Green is a high level manager and his attitude was geocentric‚ choosing to associate with other Americans and lived in the upper middle class neighborhoods. Martin on the other hand had
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1.0 Study Case Summary Office Equipment Company (OEC) manufactures a wide variety of office equipments such as copying machines‚ recording machines‚ mail scales and paper shredders in eight different countries and distributes and sells products worldwide. It has no manufacturing facilities in Peru but has been selling and servicing there since the early 1970s. OEC first tried selling in Peru through independent importers but quickly became convinced that in order to make sufficient sales it
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HUMAN RESOURCE MANAGEMENT IN INTERNATIONAL ORGANIZATIONS Sonja Treven* Received: 08. 09. 2001 Review Accepted: 15. 11. 2001 UDC: 658.3 In the paper‚ the author first presents various approaches to the management and recruitment of employees in subsidiaries that the company has established in different countries. Then‚ she turns her attention to the basic functions of international human resource management‚ among them recruitment and selection of new employees‚ development and
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CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle‚ Coca-Cola‚ and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing‚ R&D‚ manufacturing‚ and other activities comprise a firm’s value chain; firms configure activities to create superior customer value on a global basis. Global companies
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The external Environment of business refers to the external forces which consist of legal-political‚ economic and culture‚ that play a part in influencing the direction that the firms take. The legal element of the environment is the framework of rules laid down by the government which business must operate. The labor laws protect the rights of the NBA players by providing for contracts of employment ‚ compulsory insurance ‚ recognition of National Basketball Association and industrial
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economic and socio – cultural factors. Other factors include trust and personal moral merits. There are three approaches to staffing policy which a multinational firm can adopt. These are the ethnocentric approach‚ polycentric approach and the geocentric approach (Hill‚ 2011). A firm using the ethnocentric approach fills all key management positions with parent country nationals; this approach is often used when operations are carried out in less developed countries (Hills‚ 2011). Although this
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