International Management at Technische Hochschule Ingolstadt | Flashcards & Summaries

Lernmaterialien für International Management an der Technische Hochschule Ingolstadt

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TESTE DEIN WISSEN

Globalization - Risks (5)

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TESTE DEIN WISSEN

- job losses in Europe (Outsourcing)

- bad working conditions

- environmental degradation

- health issues (viruses can spread quickly)

- loss of culture (travel)

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TESTE DEIN WISSEN

How will the global economy change in the next decade? (5)

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TESTE DEIN WISSEN

- climate change pushes poeple below poverty line

- artificial intelligence might replace human jobs

- internet of things: more connection (cybercrimes)

- demographics (many old people in Europe)

- clean energy (pollution, biodiversity, resources oil)

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TESTE DEIN WISSEN

What are the main drivers of globalization (6)

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- improved information (spread of IT and communication)

- shift in production from western countries to China

- English as a world language

- rapid advancements in technology, ...

- knowledge transfer

- competition

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TESTE DEIN WISSEN

What are the major differences in the international business environment? (9)

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- political factors (political systems: democracy, monarchy, oligarchy)


- economic factors (inflation rate, income, employment level, purchasing power; different economic systems – market economy, command economy, mixed economy)


- legal factors (minimum wage, employment laws, working rights, tax reates)


- social factors (education, trends, lifestyle, standard of living)


- environmental factors (weather, climate change, temperature)


- technical factors (automated work process, access to internet, electricity)


- cultural differences (power distance, individualism – collectivism, uncertainty avoidance, feminism – masculinism, long term – short term)


- different currencies (exchange risks, convertibility)


- different languages (problems with communication)

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TESTE DEIN WISSEN

What determines the level of economic development in a country? (4)

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- economic growth typically implies economic development and refers to an increase in gross domestic product (GDP)


- HDI (Human Development Index)

o  introduced 1990

o  measures economic development in 3 broad areas: per capita income, health, education

o  scale from 0 to 1 (no – complete development

o  longevity = measured by life expectancy at birth

o  knowledge = measured by adult literacy and number of years children are enrolled at school

o  standard of living, measured by real GDP per capita at purchasing power parity

* Low development: index of 0-0,49; e.g. Nigeria 0,42 in 2010

* Medium development: index of 0,5-0,69; e.g. Indonesia 0,6

* High development: index of 0,7-0,79; e.g. Romania 0,76

* Very high development: index of 0,8-1; e.g. Finland 0,87


- Technological Progress and Economic Growth


- Foreign Capital: Foreign direct investments (FDI) as important way to accelerate economic growth

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TESTE DEIN WISSEN

Which role will emerging markets play in the next decade? (6)

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TESTE DEIN WISSEN

emerging markets = countries across Asia-Pacific and Latin America (e.g. Indonesia, India, Phillipines, Mexico, Brazil, Colombia, Russia) --> acount almost 60 % of the global GDP and 85 % of world's population


- living standars will increase (same standards as Europe and America)

- population will grow in these regions (more power)

- growth of global economy

- investing is attractive (grow faster than develop)


--> immigration will continue (environmental problems)

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TESTE DEIN WISSEN

Describe and explain the five cultural dimensions of Geert Hofstede (5)

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TESTE DEIN WISSEN

- power distance = how less powerful members accept and expect the uneuqal distribution of power

(high --> Asia, Central America; low --> Germany, Australia, USA)


- individualism vs. collectivisim = degree to wich individuals are integrated into groups

(individualistic societies --> USA, Europe; collectivist societies --> Serbia, Venezuela, African Countries)


- uncertainty avoidance = tolerance for uncertainty and ambiguity; fear the unknown or feel stressed by change

(high --> Germany, Japan; low --> Singapore, Jamaica, Nordic Countries)


- masculinity vs. femininity

(maculine = competitive, materialistic, power distance --> Germany, China, Japan;

feminine = relationship, quality of life --> Sweden, Norway)


- long-term vs. short-term orientation

(long-term = focus on future, perseverance and thrift --> China;

short-term = value tradition, fulfilling social responsibilities --> Latin America)

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TESTE DEIN WISSEN

What are the business and economic implications of cultural differences between countries? (4)

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- different business customs (manners gestures, ...)


- communication (directness and brevity = Finnland, indirect and nuanced communication = India; handshakes, direct eye contact, kissing cheek)


- workplace etiquette (names and titels, punctuality, working hours)


- organizational hierachy (strong hierachies = Japan, flat hierachy = Norway)

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TESTE DEIN WISSEN

What is meant by „culture” of a society? (5)

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- sum of characetristics of a praticular group


- collective actions includes language, religion, cuisine, social habits, music and arts


- value system lasts longer than an individuals life


- cultural behavior is predictable


- transferred through symbols, social interaction, subconscious learning, conflicts, rewards, punishment, negotiations

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TESTE DEIN WISSEN

Which role do values and social norms play in international business? (4)

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- respect in order to make business and profit

- treat business partners respectful and appropriate

- know social norms to offer right products and promote in right way

- adapt to external environment -> social needs (length of skirt) or fail

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TESTE DEIN WISSEN

What are the causes of unethical behavior of managers (in international context)? (5)

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TESTE DEIN WISSEN

- competitiveness -> lowest cost possible results in bad working conditions

- bribery can lead to advantages for the company

- adaption to the practices to keep up competitiveness

- don’t know what is right or wrong or adequate in a country

- uncertainty of managers whether adapting to the local standards (longer workdays, less pay) is alright

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TESTE DEIN WISSEN

Globalization - Opportunities (4)

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TESTE DEIN WISSEN

+ lower prices

+ more jobs globally, outsourcing to cheaper countries

+ technical advancements spread more quickly -> innovations

+ cost savings in production due to lower labor cost

Lösung ausblenden
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  • 27 Lernmaterialien

Beispielhafte Karteikarten für deinen International Management Kurs an der Technische Hochschule Ingolstadt - von Kommilitonen auf StudySmarter erstellt!

Q:

Globalization - Risks (5)

A:

- job losses in Europe (Outsourcing)

- bad working conditions

- environmental degradation

- health issues (viruses can spread quickly)

- loss of culture (travel)

Q:

How will the global economy change in the next decade? (5)

A:

- climate change pushes poeple below poverty line

- artificial intelligence might replace human jobs

- internet of things: more connection (cybercrimes)

- demographics (many old people in Europe)

- clean energy (pollution, biodiversity, resources oil)

Q:

What are the main drivers of globalization (6)

A:

- improved information (spread of IT and communication)

- shift in production from western countries to China

- English as a world language

- rapid advancements in technology, ...

- knowledge transfer

- competition

Q:

What are the major differences in the international business environment? (9)

A:

- political factors (political systems: democracy, monarchy, oligarchy)


- economic factors (inflation rate, income, employment level, purchasing power; different economic systems – market economy, command economy, mixed economy)


- legal factors (minimum wage, employment laws, working rights, tax reates)


- social factors (education, trends, lifestyle, standard of living)


- environmental factors (weather, climate change, temperature)


- technical factors (automated work process, access to internet, electricity)


- cultural differences (power distance, individualism – collectivism, uncertainty avoidance, feminism – masculinism, long term – short term)


- different currencies (exchange risks, convertibility)


- different languages (problems with communication)

Q:

What determines the level of economic development in a country? (4)

A:

- economic growth typically implies economic development and refers to an increase in gross domestic product (GDP)


- HDI (Human Development Index)

o  introduced 1990

o  measures economic development in 3 broad areas: per capita income, health, education

o  scale from 0 to 1 (no – complete development

o  longevity = measured by life expectancy at birth

o  knowledge = measured by adult literacy and number of years children are enrolled at school

o  standard of living, measured by real GDP per capita at purchasing power parity

* Low development: index of 0-0,49; e.g. Nigeria 0,42 in 2010

* Medium development: index of 0,5-0,69; e.g. Indonesia 0,6

* High development: index of 0,7-0,79; e.g. Romania 0,76

* Very high development: index of 0,8-1; e.g. Finland 0,87


- Technological Progress and Economic Growth


- Foreign Capital: Foreign direct investments (FDI) as important way to accelerate economic growth

Mehr Karteikarten anzeigen
Q:

Which role will emerging markets play in the next decade? (6)

A:

emerging markets = countries across Asia-Pacific and Latin America (e.g. Indonesia, India, Phillipines, Mexico, Brazil, Colombia, Russia) --> acount almost 60 % of the global GDP and 85 % of world's population


- living standars will increase (same standards as Europe and America)

- population will grow in these regions (more power)

- growth of global economy

- investing is attractive (grow faster than develop)


--> immigration will continue (environmental problems)

Q:

Describe and explain the five cultural dimensions of Geert Hofstede (5)

A:

- power distance = how less powerful members accept and expect the uneuqal distribution of power

(high --> Asia, Central America; low --> Germany, Australia, USA)


- individualism vs. collectivisim = degree to wich individuals are integrated into groups

(individualistic societies --> USA, Europe; collectivist societies --> Serbia, Venezuela, African Countries)


- uncertainty avoidance = tolerance for uncertainty and ambiguity; fear the unknown or feel stressed by change

(high --> Germany, Japan; low --> Singapore, Jamaica, Nordic Countries)


- masculinity vs. femininity

(maculine = competitive, materialistic, power distance --> Germany, China, Japan;

feminine = relationship, quality of life --> Sweden, Norway)


- long-term vs. short-term orientation

(long-term = focus on future, perseverance and thrift --> China;

short-term = value tradition, fulfilling social responsibilities --> Latin America)

Q:

What are the business and economic implications of cultural differences between countries? (4)

A:

- different business customs (manners gestures, ...)


- communication (directness and brevity = Finnland, indirect and nuanced communication = India; handshakes, direct eye contact, kissing cheek)


- workplace etiquette (names and titels, punctuality, working hours)


- organizational hierachy (strong hierachies = Japan, flat hierachy = Norway)

Q:

What is meant by „culture” of a society? (5)

A:

- sum of characetristics of a praticular group


- collective actions includes language, religion, cuisine, social habits, music and arts


- value system lasts longer than an individuals life


- cultural behavior is predictable


- transferred through symbols, social interaction, subconscious learning, conflicts, rewards, punishment, negotiations

Q:

Which role do values and social norms play in international business? (4)

A:

- respect in order to make business and profit

- treat business partners respectful and appropriate

- know social norms to offer right products and promote in right way

- adapt to external environment -> social needs (length of skirt) or fail

Q:

What are the causes of unethical behavior of managers (in international context)? (5)

A:

- competitiveness -> lowest cost possible results in bad working conditions

- bribery can lead to advantages for the company

- adaption to the practices to keep up competitiveness

- don’t know what is right or wrong or adequate in a country

- uncertainty of managers whether adapting to the local standards (longer workdays, less pay) is alright

Q:

Globalization - Opportunities (4)

A:

+ lower prices

+ more jobs globally, outsourcing to cheaper countries

+ technical advancements spread more quickly -> innovations

+ cost savings in production due to lower labor cost

International Management

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