GMS 200 Lecture : GMS200 - Chapter 5 Notes

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Jian Guan

Document Summary

Study question #1"s answer: key concepts in the challenges of globalization, global economy, globalization, international management, global manager, europe, european union (eu) Political and economic alliance european countries that agreed to support mutual economic growth. Expanding to 22 member countries with 375 million consumers: the americas, north american free trade agreement (nafta) Agreement for free flow of goods and services between canada, Illegal practices that further one"s business interests: sweatshops. Employing workers at low wages for long hours and in poor working conditions: child labor. Full-time employment of children for work otherwise done by adults: sustainable development. Meeting current needs without compromising future needs. Low-context cultures and high-context cultures: interpersonal space, time orientation. Mono-chronic cultures and poly-chronic cultures: religion, contracts and agreements, values and natural cultures (hofstede), power distance, uncertainty avoidance, individualism-collectivism, masculinity-femininity, time orientation, understanding cultural differences (trompenaars), relationships with people: Achievement vs. prescription: attitudes toward time sequential and synchronic views, attitudes toward environment inner-directed and outer-directed cultures.