MGT 125 Lecture Notes - Lecture 15: Mercosur, North American Free Trade Agreement, Closer Economic Relations
27 Oct 2020
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4 views of international business: ethnocentricism- ethnocentric attitude. Narrow view of the world with an inability to recognize differences between people. Parochialism: a belief that the best work approaches and practices are those of the home country: polycentricis- polycentric attitude. The view that the managers in the host country know the best work approaches and practices for running their business: geocentrism- geocentric attitude. A world-oriented vie that focuses on using the best approaches and people from around the globe. Also with usa, singapore, thailand and china n regional trading alliances: americas. Southern cone common market ( mercosur) ie argentina, brazil, paraguay, uruguay, and venezuela; with bolivia. North american free trade agreement ( nafta) ie united states, canada, and. A unified economic and trade entity ie belgium, denmark, france, greece, ireland, Economic and monetary union (euro) iii) africa. Initial members: indonesia, malaysia, the philippines, singapore and thailand. Membership has expanded to include brunei, burma (myanmar), cambodia, laos, and vietnam.
