International Management at LMU München

Flashcards and summaries for International Management at the LMU München

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Study with flashcards and summaries for the course International Management at the LMU München

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1. Introduction - Relevance of International Management

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6. Standardization vs. Differentiation

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Definition of Culture
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Exemplary flashcards for International Management at the LMU München on StudySmarter:

Kluckhohn/Strodtbeck - Dimension 1: Relationship with Nature (Environment)

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Bretton Woods Treaty (1944)

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Combination of Market Seeking and Efficiency Seeking: Henkel in China

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Evaluation of the Product Life Cycle Theory (PLC)
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Exemplary flashcards for International Management at the LMU München on StudySmarter:

Basic Statements of the Location Theory

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Economic freedom

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In today‘s business world, working in multiculturals teams is no longer an exception but the norm

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Multicultural teams are not only limited to organizational spheres but are omnipresent in today’s globalized world
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Relevance of International Management from a Personal Viewpoint

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Exemplary flashcards for International Management at the LMU München on StudySmarter:

International Management

1. Introduction - Relevance of International Management
-

International Management

6. Standardization vs. Differentiation
-

International Management

Definition of Culture
Culture is a set of knowledge structures consisting of systems of values, norms, attitudes, beliefs and behavioral meanings that are shared by members of a social group (society) and that are learned from previous generations.

International Management

Kluckhohn/Strodtbeck - Dimension 1: Relationship with Nature (Environment)
Individuals may have different relationships with nature (environment). 1. Domination: Man has control over nature --> strong belief in technology and management 2. Harmony: Balance between nature and man 3. Subjugation: Nature has control over man (strong belief in destiny)

International Management

Bretton Woods Treaty (1944)
- Abolition of the Gold Standard and implementation of the US-Dollar as leading/standard currency - Establishment of the International Monetary Funds (IMF) and the World Bank - Establishment of a system of fixed exchange rates with the US-$ as the leading currency

International Management

Combination of Market Seeking and Efficiency Seeking: Henkel in China
- Henkel invests €50 mil. to build a new adhesive factory in China - Central production facility for adhesives in China and the region of Asia/Pacific Consequences for Henkel: - Benefits from financial advantages of the host country - Strengthen its position in growth markets - Higher availability of employees, especially experts - Optimization of the global production network Consequences for the host country: - Reduction of unemployment rate - Support of economic growth With this new factory, Henkel can deliver its innovative adhesive technologies faster to the growing number of customers based in China and the Asian region

International Management

Evaluation of the Product Life Cycle Theory (PLC)
The explanatory power of the Product Life Cycle Theory decreases in the course of globalization + Extension of economic life of machinery, production plants, etc.(e.g. VW Beetle, Golf, Santana) + Demand-oriented transfer of technology - Decreasing explanatory power in the course of globalization --> need for simultaneous market entry (“sprinkler strategy”) - Low predictive power --> limited suitability for ex-ante analyses A PLC alignment can have negative consequences for the product image in the long-term and therefore, negative consequences for performance

International Management

Basic Statements of the Location Theory
The location theory is based on the assumption of (cost) differences between countries. Location Advantages: - Market size / potential - Governmental incentives - Tax advantages - Political risk - Labor costs advantages FDI decisions depend on a combination of different location factors, whose relative significance remains unclear

International Management

Economic freedom
Defined as the "absolute right of property ownership, fully realized freedoms of movement for labor, capital, and goods, and an absolute absence of coercion or constraint of economic liberty beyond the extent necessary for citizens to protect and maintain liberty itself.”

International Management

In today‘s business world, working in multiculturals teams is no longer an exception but the norm
-

International Management

Multicultural teams are not only limited to organizational spheres but are omnipresent in today’s globalized world
e.g. Soccer Teams

International Management

Relevance of International Management from a Personal Viewpoint
As a manager or employee you might - work abroad - work for a foreign firm - work in multicultural teams - have to deal with questions of international management

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Information Management at

TU München

Management at

Freie Universität Berlin

It Management at

FOM Hochschule für Oekonomie & Management

IT-Management at

FOM Hochschule für Oekonomie & Management

Strategic and International Management at

Universität Giessen

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