CH. 2 1/2 MKT 4446

International management: the process of accomplishing the global objectives of a firm doing business in more than one country by:

• Effectively coordinating the procurement, allocation and utilization of human resources of the organization

• Maintaining a state of dynamic equilibrium in the global environment

• Achieving efficiency & effectiveness: doing the right things right

• Accept that “best practices” will differ according to context

4 management elements exist in all environments: these represent the managerial thinking process

• planning

• organizing

• leading

• controlling

• coordinating

Planning: the process of thinking about what the firm should do to garner good market share, to meet consumer need, etc.

• true

• false

organizing: arranging firm assets to best serve planned objectives

• true

• false

controlling: coordinating and directing firm activities and human resources to organize planned objectives

• true

• false

controlling: checking to make sure that plans were actually implemented

• true

• false

Planning environments considered: home, host, third country and global environments, political, economic, social, legal and cultural environments

• true

• false

organizing involves defining the organization’s mission, establishing goals and objectives and a strategy to achieve them

• true

• false

Major approaches to planning can be culturally determined, for example, by different approaches: master-of-destiny or fatalistic, individualist or collectivist, strong or low uncertainty avoidance, etc. (ch. 7)

• true

• false

a potentially flawed global strategy, inefficient allocation of human and physical assets, assurance of resource availability and product distribution, this can cause...

• Failure of good planning results

• good planning results