MGT 420 Study Guide - Final Guide: Nathan Johnson (Musician)
Document Summary
Mgt 420 exam 1 (chapters 1,2,3,4,5,7, & 11) Ethnocentric staffing model primarily uses parent-country nationals to staff higher-level foreign positions. Polycentric staffing model calls for heavy use of host-country nationals throughout the organization. Geocentric staffing model puts parent-country nationals, and third-country nationals all in the same category, with the firm attempting to always hire the best person available for a position. Culture is the set of values, symbols, beliefs, and languages that guide human behavior within that culture (country). Exporting is the process of making a product in the firm"s domestic marketplace and then selling it in another country. Licensing involves one company granting its permission to another company in a foreign country to manufacture and/or market its products in its local market. Direct investment occurs when a firm headquartered in one country builds or purchases operating facilities or subsidiaries in a foreign country.
