GMS 200 Lecture Notes - Lecture 3: Sustainable Development, Economic Migrant, Individualism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Lecture 3 + 4 global dimensions of management. Examples of global trade unions: europe european union (eu, the americas nafta, ftaa, asia & pacific, africa sadc (southern african development community, ecowas (economic community of west african states) Definition of multinational corporations: multinational corporation (mnc): business with extensive international operations in more than one foreign country. Interference with local government: excessive profits, domination of local economy, hiring the best local talent, limited technology transfer, disrespect for local customs. Stages in adjusting to a new culture: confusion, small victories, the honeymoon, reality. Popular dimensions of culture: language, low-context cultures and high-context cultures. Interpersonal space: time orientation, monochromic cultures and polychromic cultures, religion, contracts and agreements. How countries compare on hofstede"s dimensions of national culture: Understanding cultural differences (trompenaars): relationships with people, universalism vs particularism, individualism vs collectivism, neutral vs affective, specific vs diffuse, achievement vs prescription, attitudes toward time, sequential vs synchronic views, attitudes toward environment, inner-directed vs outer-directed cultures.