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Unit2: and or but

Phrase or sentence? conjunctions and or but

OR,AND,BUT

but/or/and/both

Management and Globalization Global Management Why companies go global How companies for global Global Business environments Global Business Types of global business Pros and cons of global businesses Ethnic Challenges for global business Culture and Global Diversity Cultural intelligence Silent language of culture Tight and loose cultures Values and national cultures Global Management Learning Are management theories universal? Intercultural competencies Global learning goals Key concepts of the challenges of globalisation: Global economy Resources, markets and competition are worldwide in scope Internationalisation The process of increasing involvement in international operations Globalization/Deglobalization Glob- the growing interdependence among elements in the global economy The worldwide interdependence of resource flows, product markets and business competition World 3.0 Different views: World flat vs. round Distance is a metaphor that represents the degree of dissimilarities between countries Balancing cooperation in the global Global Management Global management - managing things in different countries Managing business and organizations with interests in more than one country What do we expect from global Managers Knowing how to adapt Knowing the language Global Manager Is culturally aware and informed on international affairs International Business Conducting for-profit transactions of goods and services across national boundaries International Motive Why do firms internatioalize their activities Cheaper labour Labour tax Natural resources Enrolments to do business Clientele Exclusive materials Personal benefits: Taxes Reasons why businesses go global Customers Suppluers Capital During (1993) - 4 motive 1. Market seeking 2. Efficiency Seeking 3. Resource seeking 4. Strategic Asset Seeking Cuervo Cazurra, Narula and un (2015) - 4 motive s Internationalization Motives A company may also explore the opportunities in different markets in order to take advantage and in some cases extend the product life cycle What is a Market Entry Strategy Involves the sale of goods or services to foreign markets but do not require expensive investments Franchising Exporting and importing Involve the sale of goods or services to foreign markets but do Types of market entry strategies Global sourcing Exporting Importing Licensing agreement Franchising Types of Foreign Direct Investment (FDI) strategies: Joint venture Strategic alliance Owned Subsidiary (sometimes called WOS) How to go abroad What conditions will affect the decisions of firms on how to internationalize their activities? During (1978)- Eclectic paradigm OLI model OLI- Ownership, Location and Internalization Advantages Ownership advantages Resources owned by the organization that can be transferred across locations include trademarks, production techniques and processes, managerial skills and other resources not available to the competitors Location Advantages Represent the implications of choosing to produce or to perform activities in a specific location (country or region) Internalization Advantages: The ability to internalize or to incorporate activities that add value to its business Evolution of Concepts- New Elements Although economic factors are certainly important to explain the formation, growth and expansion of firms within and across national borders, they are not sufficient to explain the additional complexity when a firm decides to expand its activities across national borders Economic factors Investigate the economic elements that affect the internationalization of firms Behavioural Elements Explaining the additional challenges (and perhaps opportunities) a firm faces in foreign host countries when compared to indigenous (local) firms Behavioural theories Johanson and Wiedersheim-Paul (1975) and Johanson and Vahlne (1977) Included the psychic Distance concept (beckerman,1956) to explain the internationalization behaviour of firms The Uppsala internationalization model Psychic distance is: the sum of factors preventing the flow of infomatio from and to the market Psychic Distance is a broad concept that includes several elements such as: language, culture, political systems, level of education, level of industrial development Firms behave in a “Risk Averse” manner It means that when the perceived risk goes down, the firm increase its commitment to the foreign market \ The Haier Group Data Strategy Big DATA and Small DATA The use of small data to satisfy individual customers’ needs, however, the book mentions a huge cultural shock at the plant in Camden, south caroline Ex: top down, hard hat colors and hierarchy Culutral Differnces can have a huge impact on the internationalization of firms Kogut and Singh (1988)- Cultural Distance Index First statsical study on the implication of ciltiral distance to the selection of entry mode When investigating in culturally distant countries, foreign firms can choose to partner with foreign firms in order to gain local knowledge and share the risk associated to the investment (higher commitment = higher risk) How Companies Go Global Global sourcing The process of purchasing materials or services around teh world for local use Exporting Selling locally made products in foreign markets Importing Buying foreign made products and selling them domestically Exports correspond to what percentage of Candain GDP What countries are the major trending partners of Canada Management and Globalization How Companies Go Global Licensing Agreement One firm pays a fee for rights to make or sell another company’s products What are the potential risks associated to licesning The case of new balance in China Franchising A fee is paid for the rights to use another firms name, branding and methods Insourcing Insourcing: refers to local job creation that results from foreign direct investment Types of insourcing Joint ventures: operate in a foreign country through co-ownership by foreign and local partners Strategic alliances: A partnership in which foreign and domestic firms share resources and knowledge for mutual gains Foreign subsidiaries: local operation completely owned by a foreign firm Criteria for choosing a joint venture partner: Familiarity with your firm’s major business String local workforce Values its customers Future expansion possibilities Strong local market for partner’s own products Good Profit potential Sound financial standing Global business environments Legal and poliical systems Trade agreements and trade barriers Regional economic alliances Legal and political systems Differing laws and practices regards Business ownership Negotiation and implementation of contracts Foreign currency exchange Protection of intellectual property rights Counterfeit merchandise Political risk Potential loss in value of foreign investment due to instability and political changes in the host country Political risk analysis (expertise/experience) Forecast political disruptions that threaten the value of a foreign investment Changes in the rules of the game Brexit US Trade Wars-mexico-China Other examples Bolivia, Venezuela, China De-globalization The process of weakening interdependence among nations Trade Agreements and trade Barriers World trade organization Most favourd nation status Tariffs Nontariss barriers (quotes, restrictions, etc.) Protectionism Regional Economic Alliances USMCA (replacment for the NAFTA-North American Free trade Agreement) EU- European Union APEC- Aisa Pacific Economic Copperation ASEAN - Association of Southeast Asian Nationas SADC - Southern Africa Development Community MERCOSUR- Chapter 5- Global Management and Cultural Diversity (part 2) Review Types of global business Global corporation MNE (multinational enterprise) or MNC (multinational corporation) with extensive business operations in more than one foreign country Transnational corporation A global corporation that operates worldwide on borderless basis Some host country complaints about MNCs Host Country companits about MNCs: Excessive profits Interference with local government Domination of local economy Interference with local government Hiring the best local talent Limited technology transfer Disrespect for local customers Examples - War in Ukraine Disruption in global -value chains and increased pressure and interference of MNCs with local government Fertilizer imports in Brazil (one of the major producers of agricultural commodities) We must consider the triple bottom line and the impact in society, the environment and the economy $2.5 billion invest in potash mine in Brazill What about Globalization gap Large multinationals adn industrilizednaitons gaining disporoportinonally form globalization Globalization gap: Large multinational and industrialized nations gaining disproportionally from Globalization Some MNC complaints about host countries MNC Complaints about host countries: Profiit limitations Laws and regulations Overpirce resources Exploitative rules Foreign exchange restriction Failure to uphold contracts Mutual benefits for host countries and multinational companies Mutual benefits for host country and global corporation of MNC: Shared growth opportunities Shared income opportunities Shared learning opportunities Share development opportunities Develop projects together What are some of the ethical challenges for global business Ethincal challenges for global business Child labour Employmnet of children for worl otherwise done by adults Sweatshops Employment of workers at very low wages for long hours in poor working conditions Ex: Nike bad labour prices Unsafe working conditions Corruption Illegal practices that further one’s business interests Corrupiotn of froeign public officials Act makes it illegal for Candain firms and their representatives to engage in corrupt practices overseas Bribes to foreign officials Excessive commissions Non-monetary gifts Sweatshops Conflict materials What is culture Culture : The shared set of beliefs, values, and patterns of behvaiourr common to a group of people Food preferences Values and traditions Language and beliefs Religion Art music Life style Hofstede defines culture as: “The collectiv programing of teh mind distinguishing the members of one group or category of people from others” What is culture shock Culture Shock: Confusion and discoumfert a person experiences in an unfaamiliar culture Stages to adjusting to a new culture Confusion Small vitorires The honeymoon Irritation and anger Reality Cultural Intelligence The ability to adapt and adjust to new cultures What is Ethnocentrism Tendency to consider one’s own culture as superior others Slinet languages of culture Contect Low context High context Space Proxemics Ex: personal space Time Monochronic Polychronic High and low contexts cultures Edward T.Hall (1959) Def: Part of a discourse that surround a word or passage and can throw on its meaning Low context cultures Emphizes communication via spoken or written words Countries like United States, Canada and Germany High context cultures Rely on nonverbal and situational cues as well as on spoken or written works Thailand Malaysia Time Monochronic cultures People tend to do one thing at a time Canda Polychronic cultures Time is used to accomplish many different things at once Egypt Space Proxemics Study of how people use space to communicate In North American people value “personal space’ Many Latin and Asian cultures expect much less personal space Tight and Loose Cultures Cultural tightness-looseness Tight = Strength of norms that govern social behvaviour Japan, Korea, Malaysia Loose = tolerance for any deviation from norms Australia, Brazil, Hungary Values and national cultures (Hofstede) Power distance Uncertainty avoidance Individalism-collectivism Masculinity-femininty Time Orientation Indulgence vs. Restraint Comparative management How management pratices systematically differ among countries and /or cultures Intercultural competencies Skills and personal characteristics that help us be successful in cross cultural situations Global Managers (know how to adapt) Need to successfully apply management functions across interantional boundaries Global Learning goals Not universal Engage critical thinking Look everywhere for new management ideas Always consider culture

Musical Texture Texture Musical texture is the element of music that analyzes musical layers in terms of number and function. The most basic texture is called monophonic. Oh mama, I'm in fear for my life from the long arm of the law. Monophonic texture has only one layer, a melody. With monophony, it doesn't matter how many instruments and or voices are present if they are all singing or playing the same thing at the same time. It also doesn't matter if the voices or instruments are on the exact same frequency, or if they are singing in octaves. An octave is the distance between two musical pitches that sound almost the same, but one is higher and one is lower. It also doesn't matter if drums are present or not. In most cases, drums, the rhythmic layer, are neither melody nor harmony, and therefore are generally not considered when determining texture type. Too much monophony can be boring, so most music has another kind of layer, harmony. When a melody is supported by a harmony, the texture is homophonic. No one may ever know the feelings inside my mind. All the lines I ever write are running out of time. One layer grabs your attention, and the other layer is just hanging out in the background. Most popular music is homophonic. Notice how there was only one instrument in the previous example, a piano, but there were two different things happening on that instrument, a melody, and a harmony. What if a piece of music has multiple independent layers happening at the same time, and you're not sure which one is the melody? This is called polyphony. Polyphony can occur if you take the same melody but start it at staggered intervals. This is called a round. ♪ The last texture is called heterophony. Heterophony is relatively rare in Western music but is very common in non-Western music. It occurs when there are two or more versions of the same melody happening at the same time. Usually, one of the melody lines has more notes than the other, a kind of musical decoration, and or a slightly different rhythmic pattern. Songs will often use a variety of textures to keep the piece interesting. Come on, I need you, I swear, at this moment, you need everything. Come on, I need you, I swear, at this moment, you need everything. Start trying to identify the musical textures in your favorite music.

Risky environments occur when there is potential for injury, unsafe practices and the surrounding are considered hazardous or reliable. In a sporting and physical activity context, this can be due to a variety of factors such as: playing surface, isolation, water, unpredictability and equipment. A playing surface is the environment in which physical activity takes place. A playing surface can be dangerous or hazardous when the ground is uneven, wet/slippery and debris is present. This can be risky for participants as it can lead to severe injury and or death. An example of this is when physical activity or sport is called off due to wet weather. This puts participants at risk as its presents the possibility of the participants slipping over and cutting themselves or fracturing/breaking a bone. Isolation occurs when a person, people or event is held far away from first aid or a significant population, which can contribute to a risky environment. Acquiring an injury in an isolated location makes it difficult for help, and assistance may take longer to arrive, further putting yourself at risk. For example, bushwalking by yourself at night, the walker could slip and break an ankle. It may then take a while for aid to locate or reach you, further putting yourself at risk. Also, an isolated location makes it difficult to fully assess potential risks leading to an unsafe location for physical activity. With the example of the ultra- marathon, organisers were not able to fully assess the potential risk of bushfires leading to serious injury for their competition therefore isolation is a significant contributing factor to a risky environment. Water is a factor which influences risks in sport and physical activity. The lack of water can lead to dehydration and other health issues. On the other hand, the presence of water can result in slippery surfaces as well as altered or unknown conditions. This can be seen when an athlete takes part in a triathlon. Water is required to remain hydrated, however it can become hazardous. During the run and bike legs, water or rain can result in slippery surfaces and can therefore be dangerous for participants. In the swim leg, water depth and conditions can be unknown, rough or altered creating danger for participants. Evidently, water is an influential factor of the risks in physical activity and sport. Unpredictability will always play a role in sport and physical activity. Situations will never be completely foreseeable nor will risks be avoidable. The optimum risk identification processes cannot completely eliminate risks, simply reduce them. It is important for sporting associations to establish plans and processes not only to identify risk environments but to manage risks should unpredictable circumstances arise. Equipment is a factor that can contribute to a risky environment. If there is a lack of the correct and required equipment in physical activity, or if the equipment is ill-fitting or faulty, participants are then at risk of getting injured. For example, if a cricket player isn’t wearing a helmet and the cricket ball hits their head, they are at risk of serious head injury or death. Therefore, if proper and suitable equipment is available, participants can partake in physical activity safely without risk of injury.

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