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Midterm

GMS MIDTERM MATERIAL.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Franklin Ramsoomair
Semester
Fall

Description
GMS MIDTERM EXAMINATION Chapters 1, 2, 3, 6, 13. GMS 200 MIDTERM Your midterm examination will be written in class this week. Please bring your laptops only. The midterm will be based on Chapters 1, 2, 3, 6, 13. Chapter 6: Planning Processes Chapter 1: Introducing and Techniques Management Steps in the planning process Planning, Leading, Organizing, Diversity Controlling Time management Globalization Strategic and Tactical Plans Competitive advantage Operational plans Environmental uncertainty Integrity and ethical leadership at all Forecasting levels Contingency planning Sustainable development Scenario planning Natural environment protection Benchmarking Consumer protection Goal Setting Great goals are SMART: Human rights Set specific goals. Organizations are open systems Make sure goals are measurable. Who are managers and what do they do? Ensure goals are attainable. Four functions of management. Goals must be referred to regularly. Mintzberg’s 10 Managerial Roles. Goals must be timely. Katz’s Essential Managerial Skills Management by Objectives (MBO) Chapter 2 Management Learning from Past to Present Major branches in the classical approach to management- Hawthorne, Taylor, Fayol, Weber, Gilbreth, Follett, McGregor, Maslow, Argyris (Adult Personality). Contingency thinking Chapter 3: Global Dimensions of Management Global economy Resource supplies, product markets, and business competition are worldwide, rather than local Globalization Global management Management in organizations with business interests in more than one country Global manager Types of market entry strategies: Global sourcing Exporting Importing Licensing agreement Franchising  Foreign Direct Investment is building, buying all, or buying part ownership of a business in another country. • Insourcing Types of direct investment strategies: • Joint ventures • operates in a foreign country through co-ownership by foreign and local partners • Global strategic alliances • a partnership in which foreign and domestic firms share resources and knowledge for mutual gains. • Foreign subsidiaries • Regional Economic Alliances • NAFTA – North American Free Trade Agreement • EU – European Union • SADC – Southern Africa Development Community • Transnational corporation MNC  Culture • The shared set of beliefs, values, and patterns of behaviour common to a group of people.  Culture shock • Confusion and discomfort a person experiences in an unfamiliar culture.  Ethnocentrism • Tendency to consider one’s own culture as superior to others.  Cultural intelligence
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