These are steps for the Bottom-Up method called Objective and task Method, except

None, all responses shown are steps for the method Objective and Task

Top-Down and Bottom-Up Budgeting

Cohesion and Adhesion Water molecules stick to each other as a result of hydrogen bond- ing. An attractive force that holds molecules of a single substance together is known as cohesion. Cohesion due to hydrogen bonding between water molecules contributes to the upward movement of water from plant roots to their leaves. Related to cohesion is the surface tension of water. The cohe- sive forces in water resulting from hydrogen bonds cause the mol- ecules at the surface of water to be pulled downward into the liquid. As a result, water acts as if it has a thin “skin” on its sur- face. You can observe water’s surface tension by slightly overfill- ing a drinking glass with water. The water will appear to bulge above the rim of the glass. Surface tension also enables small crea- tures such as spiders and water-striders to run on water without breaking the surface. Adhesion is the attractive force between two particles of differ- ent substances, such as water molecules and glass molecules. A related property is capillarity (KAP-uh-LER-i-tee), which is the attrac- tion between molecules that results in the rise of the surface of a liquid when in contact with a solid. Together, the forces of adhe- sion, cohesion, and capillarity help water rise through narrow tubes against the force of gravity. Figure 2-11 shows cohesion and adhesion in the water-conducting tubes in the stem of a flower. Temperature Moderation Water has a high heat capacity, which means that water can absorb or release relatively large amounts of energy in the form of heat with only a slight change in temperature. This property of water is related to hydrogen bonding. Energy must be absorbed to break hydrogen bonds, and energy is released as heat when hydrogen bonds form. The energy that water initially absorbs breaks hydro- gen bonds between molecules. Only after these hydrogen bonds are broken does the energy begin to increase the motion of the water molecules, which raises the temperature of the water. When the temperature of water drops, hydrogen bonds reform, which releases a large amount of energy in the form of heat. Therefore, during a hot summer day, water can absorb a large quantity of energy from the sun and can cool the air without a large increase in the water’s temperature. At night, the gradually cooling water warms the air. In this way, the Earth’s oceans stabilize global temperatures enough to allow life to exist. Water’s high heat capac- ity also allows organisms to keep cells at an even temperature despite temperature changes in the environment. As a liquid evaporates, the surface of the liquid that remains behind cools down. A relatively large amount of energy is absorbed by water during evaporation, which significantly cools the surface of the remaining liquid. Evaporative cooling prevents organisms that live on land from overheating. For example, the evaporation of sweat from a person’s skin releases body heat and prevents over- heating on a hot day or during strenuous activity. Adhesion Cohesion Hydrogen bonds Cohesion, adhesion, and capillarity contribute to the upward movement of water from the roots of plants. FIGURE 2–11 www.scilinks.org Topic: Hydrogen Bonding Keyword: HM60777 mb06se_cols03.qxd 5/18/07 10:47 AM Page 41 42 CHAPTER 2 Density of Ice Unlike most solids, which are denser than their liquids, solid water is less dense than liquid water. This property is due to the shape of the water molecule and hydrogen bonding. The angle between the hydrogen atoms is quite wide. So, when water forms solid ice, the angles in the molecules cause ice crystals to have large amounts of open space, as shown in Figure 2-12. This open space lattice structure causes ice to have a low density. Because ice floats on water, bodies of water such as ponds and lakes freeze from the top down and not the bottom up. Ice insulates the water below from the cold air, which allows fish and other aquatic crea- tures to survive under the icy surface.

Key Word Definition Aid Assistance in the form of grants or loans at below market rates. For example, the UK provided aid to Nepal after the 2015 earthquake to help with reconstruction efforts. Barriers to Trade Government constraints on the flow of international goods and services, such as tariffs and quotas. For example, the European Union imposes tariffs on certain agricultural products to protect its farmers. BRICS An acronym for an association of five major emerging nations: Brazil, Russia, India, China, and South Africa. For example, BRICS nations often meet to discuss economic cooperation and development strategies. Demographic Aging The rise in the median age of a population. For example, Japan is experiencing demographic aging, with a significant increase in the elderly population. Economic Core Region The most highly developed region(s) in a country. For example, London is considered an economic core region in the UK due to its high level of development and economic activity. GNP (Gross National Product) GDP plus overseas earnings, also known as GNI (Gross National Income). For example, the GNP of the United States includes the value of goods and services produced domestically and the income earned by its citizens abroad. HIC (Higher Income Country) A country with a high level of income and development. For example, Germany is classified as a higher income country due to its high GDP per capita and advanced infrastructure. NEE (Newly Emerging Economy) A country that is experiencing rapid economic growth and industrialisation. For example, China is an example of a newly emerging economy, having rapidly industrialised and grown economically over the past few decades. LIC (Lower Income Country) A country with a low level of income and development. For example, Malawi is considered a lower income country, with a low GDP per capita and limited access to healthcare and education. GDHI (Gross Disposable Household Income) The amount of money that households have available for spending and saving after taxes and social contributions. For example, in the UK, the GDHI varies significantly between regions, with London having one of the highest levels. Gini Coefficient A measure of income inequality within a population, ranging from 0 (perfect equality) to 100 (perfect inequality). For example, South Africa has a high Gini coefficient, indicating significant income inequality within the country. Trade Unions Organisations that promote trade between member countries, such as the East African Community (EAC). For example, the East African Community (EAC) works to promote economic integration and trade among its member states. Fair Trade A movement aimed at helping producers in developing countries achieve better trading conditions and promote sustainability. For example, Fairtrade coffee ensures that farmers receive a fair price for their product and work under safe conditions. FDI (Foreign Direct Investment) Investment made by a company or individual in one country in business interests in another country. For example, Toyota's investment in manufacturing plants in the UK is an example of foreign direct investment. Debt Relief The partial or total remission of debts, especially those owed by developing countries to external creditors. For example, the Heavily Indebted Poor Countries (HIPC) initiative provides debt relief to eligible countries to help them achieve sustainable development. International Aid Voluntary transfer of resources from one country to another, often in the form of financial assistance, goods, or services. For example, the UK provides international aid to various countries through its Department for International Development (DFID). Top-Down Development Large-scale development projects led by national governments or international organisations. For example, the construction of the Three Gorges Dam in China is an example of a top-down development project. Bottom-Up Development Small-scale development projects led by local communities or NGOs, focusing on the needs of the poorest and most vulnerable. For example, WaterAid's installation of hand pumps in rural villages in Africa is an example of a bottom-up development project. Urbanisation The increase in the proportion of people living in urban areas compared to rural areas. For example, rapid urbanisation in India has led to the growth of megacities like Mumbai and Delhi. Geopolitics The study of the effects of geography (human and physical) on international politics and relations. For example, the geopolitics of the Arctic region involves disputes over territorial claims and access to natural resources. Quality of Life The general well-being of individuals and societies, outlining negative and positive features of life. For example, Scandinavian countries are often ranked high in quality of life due to their strong social welfare systems and high levels of happiness. Poverty Cycle A set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention. For example, lack of education and healthcare can trap families in a poverty cycle, making it difficult for future generations to improve their living standards. Sustainable Development Economic development that is conducted without depletion of natural resources. For example, the use of renewable energy sources like wind and solar power is a key aspect of sustainable development. Humanitarian Aid Material or logistical assistance provided for humanitarian purposes, typically in response to crises including natural disasters and man-made disaster. For example, humanitarian aid was provided to Haiti after the devastating earthquake in 2010 to help with immediate relief efforts. Economic Growth An increase in the production of goods and services in an economy over a period of time. For example, China's economic growth over the past few decades has lifted millions of people out of poverty. Social Indicators Measures that describe the well-being of individuals or communities, such as health, education, and income. For example, life expectancy and literacy rates are common social indicators used to assess development. Environmental Sustainability Responsible interaction with the environment to avoid depletion or degradation of natural resources and allow for long-term environmental quality. For example, practices like recycling and conservation of natural habitats contribute to environmental sustainability. Infrastructure The basic physical and organisational structures and facilities needed for the operation of a society or enterprise. For example, good infrastructure, such as roads, bridges, and schools, is essential for economic development. Globalisation The process by which businesses or other organisations develop international influence or start operating on an international scale. For example, the globalisation of technology companies like Apple and Google has led to their products being available worldwide. Microfinance Financial services provided to low-income individuals or groups who are typically excluded from traditional banking. For example, microfinance institutions like Grameen Bank provide small loans to entrepreneurs in developing countries to help them start or expand their businesses.

Camshaft: A rotating shaft in an engine that controls the opening and closing of the intake and exhaust valves. Aftercooler (air to air): A device that cools the compressed air from a turbocharger using outside air. Glow Plugs: Heating elements used to aid in starting diesel engines in cold temperatures. Timing Cover: The cover that protects the timing gears and belt or chain in an engine. Exhaust Manifold: A component that collects exhaust gases from multiple cylinders and directs them to the exhaust pipe. Oil Suction Tube: A tube that draws oil from the oil pan to the oil pump. Air Compressor: A device that increases the pressure of air and is often used to power air brakes or pneumatic tools. Oil Cooler: A device that cools the engine oil, helping prevent it from overheating. Supercharger/Blower: A device that increases the pressure of the air-fuel mixture entering the engine to boost power. Piston Rings: Rings around the piston that seal the combustion chamber, control oil consumption, and conduct heat. Crankshaft: A shaft that converts the linear motion of the pistons into rotational motion to power the vehicle. Oil Pan: A reservoir at the bottom of the engine that collects and holds the engine oil. Connecting Rod: Connects the piston to the crankshaft, converting the piston's motion into rotational motion. Stroke: The distance the piston travels within the cylinder, from top dead center to bottom dead center. 2 Cycle: A type of engine that completes a power cycle in two strokes of the piston. Crankshaft Main Bearing: The bearing that supports the crankshaft in the engine block. Aftercooler (water/coolant): A device that cools the compressed air from a turbocharger using water or coolant. Water Pump: A pump that circulates coolant through the engine and radiator to prevent overheating. Oil Filter: A filter that removes contaminants from the engine oil. Vibration Dampener: A device attached to the crankshaft to reduce engine vibrations. Piston Wrist Pin: The pin that connects the piston to the connecting rod. Valve Cover: The cover that protects the engine's valves and camshaft. Cylinder Block: The main structure of an engine that houses the cylinders and other components. ECM/ECU: Electronic Control Module or Electronic Control Unit, which controls various engine functions. Cylinder Head: The top part of the cylinder that contains the combustion chamber, valves, and spark plugs. Oil Pump: A pump that circulates oil through the engine to lubricate moving parts. Cylinder Liner: A sleeve inside the cylinder that protects it from wear and corrosion. TDC (Top Dead Center): The highest position the piston reaches in its stroke. Bore: The diameter of a cylinder in an engine. Flywheel: A heavy wheel that stores rotational energy to smooth out engine operation. Crankshaft Rod Bearing: The bearing that connects the crankshaft to the connecting rod. Push Tube / Push Rod: Rods that transmit motion from the camshaft to the valves. Piston: A cylindrical component that moves up and down within the cylinder to create power. Flywheel Housing: The casing that surrounds and supports the flywheel. Valve Lifter or Cam Follower: A component that follows the camshaft lobes to open and close the valves. Turbo: A device that increases the engine’s power by forcing more air into the combustion chamber. Intake & Exhaust Valves: Valves that control the intake of air and the exhaust of gases in the engine. Intake Manifold: A manifold that distributes the air-fuel mixture or air to the cylinders. Rocker Arm: A lever that transfers camshaft motion to the valves. Wastegate: A valve that controls the exhaust gases flowing to the turbocharger, preventing excessive boost pressure. Fuel Injector: A device that sprays fuel into the combustion chamber. Fuel Pump: A pump that moves fuel from the fuel tank to the engine. BDC (Bottom Dead Center): The lowest position the piston reaches in its stroke. 4 Cycle: A type of engine that completes a power cycle in four strokes (intake, compression, power, exhaust). Articulated Piston: A piston with two pieces (crown and skirt) joined by a pivot, allowing some flexibility in movement.

The challenges of working in the new economy recognize: 1.1 Working Today Talent Talented people- What they know, what they learn and what they can achive The source of organisational performance Develop skills and improve What is intellectual capital The combined brain power and shared knowledge of an organization's employees TO orginzations: Intellectual capital resents a strategic asset as human creativity, insight and decision making can be converted into superior performance To individuals: Intellectual capital is a personal asset, one to be nurtured and continually updated Things evolve, make sure we keep updated Intellectual capital: The package on intellect skills and capabilities that set us apart making us valable to potential employers Maintaining your talent: There is no escaping the fact that your career success will require a lot of initiative, self awareness and continuous learning Technology Tech is in our everyday lives Latest developments Smart phone, smart apparel, smart cars, smart homes We struggle to keep up with social media ana staying connected with messaging, full of email and voicemail What happenings as younger workers advance into management Flexibility Work ethic It is critical to build and maintain a high Tech IQ! What is Tech IQ: The ability to use current technologies at work and in your personal life, combined with the commitment to keep yourself updated as technology continues to evolve Intellectual capi5la is a combination of: Commitment x Competency = Intellectual capital How to make the world a better place Globalisation The worldwide interdependence of resources flows, product markets and business competition Under the influence, government leaders worry and about the competitiveness of nations just as corporate leaders worry about business competitiveness Emerging markets will power global growth over the next 20 years. By 2025 overall global consumption is forecast to reach $62 trillion, twice its 2013 level and fully half of this increase will come from the emerging world Consequence: Going to fast in uses resources, inflation, corporate greed It's cheaper to have things made in different countries (wages are low and going down) Shamrock organization 1 leaf - full time employees- standard career paths 2 leaf - “freelancers” 3 leaf - Part times without benefits (first to lose their jobs when employers face economic difficulties) The rising of emerging markets Now account for 60% of all low and medium technology manufacturing worldwide Total value add in high tech manufacturing from a low 26% in the 1970s to 48% at present China strategy to upgrade its industries and move the manufacturing value ching by prioritising 10 sectors Information technology, robotic, aerospace, maritime equipment, modern railway equipment, alternative energy vehicles, power equipment, agriculture equipment, advanced materials, biopharma and medical products Ethics A code of moral principa;s that sets standards for conduct that is “good” and “right” as well as “bad” and “wrong” Enron company huge corruption even in elections same thing happened with The Mechanism 1.2 - Organizations Organizational Purpose An orgnizations is a collection of people working together to achieve a common purpose Unique social phenomenon that enables its members to perform tasks far beyond the reach of individual accomplishment (synergy) The broad purpose of any orginzation is to provide goods or services of value to customers and clients A clear sense of purpose tied to: Quality of products and services Customer satisfaction Social responsibility Can be an important source of organisational strength and performance advantage All organisations are open systems (Systems that interact with its environment for renewal and growth) Organizations as systems All organizations are open systems that interact with their environment Continual process of obtaining resource inputs-people, information, resources and capital- and transforming them into outputs in the form of finished goods and services for customers One simple way to assess the impact of any organisation is to ask the question: How is the world different because it existed Michal Porter - Value Chain Value Creation: Organisations create value when they use resources well to produce good products and take care of their customers One simple way to assess the impact of any organization is to ask the questions: How is the world different because it existed? Triple Bottom Line The 3 Ps of organizational performance Profit - is the decision economically sound? People - Does the decision treat people with respect and dignity? Planet - Is the decision good for the environment? Organizational Performance Productivity: An overall measure of the quantity and quality of work performance with recourse utilisation taken into account Performance effectiveness: An output measure of task or goal accomplishment Performance efficiency: An input measure of the resource costs associated with goal accomplishment. Workplace changes that impact management Focus on valuing human capital Demise of “Command and control” Emphasis on teamwork Pre-eminence of technology New workforce expectations Importance of networking Concern for sustainability 1.3 Managers Importance of human resources and manger People are not ‘costs to be controlled’ High performing organizations treat people as valuable strategic assets Three takeaways 1. Give leaders broad authority 2. Encourage them to think like CEO 3. Challenge strong performers easily with big opportunities Direct support, supervise and help activate the work efforts of others The people who managers help are the ones whose contributions represent the real work of the organisation Levels of management Types of managers Line managers are responsible for work activities that directly affect organization’s output Staff managers use technical expertise to advise and support the efforts of line workers Functional managers are responsible for a single area of activity Quality of work life (QWL) An indicator of the overall quality of human experiences in the workplace QWL Indicators Respect Fair pay Safe working conditions Opportunities to learn and use new skills Room to grow and progress in a career Protection of individuals rights The organization as an upside-down pyramid A manager’s job is to support worker’s efforts The best managers are known for helping and supporting Customers at the top served by worker who are supported by managers 1.4 The management Process Managers achieve high performance for their organizations by best utilizing its humans and material resources Management is the process of planning, organizing, leading and controlling the use of resources to accomplish performance goals All managers are responsible for the four functions The functions are carried on continually Four functions: Planning,organizing, leading and controlling Mintzberg’s 10 Managerial Roles Characteristics of managerial work Long hours Intense pace Fragmented and varied tasks Many communication media Filled with interpersonal relationships Managerial agendas and networks Agenda setting Develops action priorities for accomplishing goals and plans Networking Process of building and maintaining positive relationships with people who can help advance agendas Social Capital Capacity to attract support and help from others Learning The change in a behaviour that results from experience Lifelong learning The process of continuously learning from daily experiences and opportunities Katz’ Essential Managerial Skills

Chapter 8: The Worlds of North and South Geography Geography refers to the seasons, climate, soil, and physical features of a region (mountains, rivers, etc.) The differences in geography b/t the N and S is one of the major reasons slavery b/c entrenched in the S while it died out in the N. Geography of the North The N has diverse geography and experiences four distinct seasons including long, harsh winters. The Great Plains region has some of the best farmland in the country. New England has rocky, hilly wilderness, not well suited for farming. It has hundreds of bays and harbors along its coastline. States farther S had rich soil and coastal access through rivers. The N also experienced mass deforestation b/c of the need for lumber and to make room for farms. Geography of the South Climate: the S had mild winters, and a long, hot, humid growing season. It has fertile lowlands, marshes and swamps. It's ideal for growing tobacco, sugar, rice, indigo, and cotton (cash crops). B/c of the geography of the S, their whole way of life was based on agriculture and geography is one of the major reasons why slavery took off in the S. Economies Economy basically refers to the way people make and spend money. The Northern economy was far more diversified than the Southern. Economy of the North The North experienced the Industrial Revolution—the shift from handmade goods to machine-made goods. This resulted in new jobs, increased production, and improved efficiency in agriculture. IOW, you can make things faster, easier, and cheaper. More ppl get more stuff. Factories were almost always located next to rivers. The Reaper The Indust. Rev. changed northern agriculture with Cyrus McCormick’s reaper. It could cut 28xs more grain than a single man. The Sewing Machine Elias Howe's sewing machine; At 250 stitches a minute, Howe's lockstitch mechanism out-stitched the output of five hand seamstresses with a reputation for speed, completing in one hour what took the sewers 14.5 hours. The Textile Mill Francis Cabot Lowell's textile mill: essentially the first factory in the US, Lowell set the model for all future factories. Interchangeable Parts Eli Whitney's interchangeable parts; considered the "dawning of a new age" of machinery. This concept was applied to pretty much all manufacturing. Economy of the South The South's economy was based on AGRICULTURE. Most southerners were agrarians. Most had small farms, some owned plantations. Slavery beginning to decline in late 1700s; prices went down (tobacco, indigo) and cotton was difficult. King Cotton Cotton was South’s most important crop. Earned more money than all other exports combined. The S would go on to supply 75% of the world's cotton demand. Cotton Gin Eli Whitney invented the cotton gin in 1794 and forever changed the US. The gin made cotton incredibly profitable. We start to see the effects of the cotton gin around 1820. Slavery and Cotton Southerners put all their money into slaves and land, and almost none into building factories. With the spread of cotton, demand for slaves increased. 1790 to 1850, number of slaves rose 600%. Transportation Again, the N was far more inventive in their approach to transportation than the S. Transportation in the North National Road National Road stretched from the East (the Potomac), over the Appalachians, to the West (Illinois), over 620 miles. Steamboat In 1807, Robert Fulton invented the steamboat. It traveled 150 miles UP the Hudson River at a speed of 5 mph. Erie Canal Built b/t 1817 and 1825, the canal spanned 363 miles and connected Lake Erie to the Hudson River. This connected farms in the W to cities in the E and the Atlantic Ocean. Clipper Ship Clippers were narrow w massive sails that were built for speed. They cut the time it took to cross the Atlantic in half. Locomotive The fastest and cheapest way to move goods was by steam-powered trains. The first RR was the B&O which was built in 1827. Transportation in the South Most people and goods in the South traveled by rivers in steamboats. The South had trains, but less than half the amount of railroad track than the North had. Society (The People) The people who made up the N and S could not have been more different. The S was primarily agrarian while the N was b/c urbanized. The S was holding on to the past, while the N was embracing change. Society in the South Society was organized into 3 distinct classes of people: rich plantation owners at the top; then white farmers and workers; slaves on the bottom. This rigid social class system was the result of a slave-based agricultural system. Power Structure Only 1 in 4 whites owned a slave. Plantation owners, who owned more than 20 slaves, dominated politics and the economy. Society in the North 7 of 10 Northerners still lived on farms by the 1840s (6 of 10 by 1860), but urbanization was growing fast in the N. The N relied on wage labor as opposed to slave labor, so most blacks in the N were free. N blacks were not treated equally and the N was about as racist as the S. Immigration Compared to the S, the N population was exploding, in large part bc of immigration. Between 1845 and 1860, 4 million immigrants came to the North. Most were German and Irish. Irish--a potato famine; German--a failed revolution. Ethnic neighborhoods developed as a result.

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

Create a multiple choice quiz with the following information: Earth’s Sphere Everything on Earth can be placed into one of four major subsystems: land, water, living things, and air. These four subsystems are called "spheres." Specifically, they are the "geosphere" (land), "hydrosphere" (water), "biosphere" (living things), and "atmosphere" (air). Geosphere All the rock, soil and sediments that makeup Earth’s land. It comes from the word “Geo” which means “Earth.” Hydrosphere All the oceans, rivers, lakes and water on Earth. It comes from the word “Hydro” which means “water.” Atmosphere All the gasses surrounding the earth. It comes from the word “Atmos” which means “air.” Biosphere All the living things on Earth. It comes from the word “Bio” which means “life.” Interact act in such a way as to have an effect on another; Freshwater naturally occurring water that is not salty, and is suitable for consumption if clean or processed. Groundwater water held underground in the soil or in pores and crevices in rock Recycling To reuse something that would have otherwise been thrown out or to turn it into something usable again instead of sending it to a landfill. Erosion After pieces of the earth are broken down through weathering, those pieces are moved through Erosion. Erosion is the process of moving things from one place to another. Mushroom Rocks Naturally occurring rocks that look like a mushroom. They can be formed when sand gets carried by wind and hits the rock. This weathers the bottom of the rock more than the top. Dry Ice A solid form of carbon dioxide that is very cold and turns directly from a solid to a gas.

PASSIVE TRANSPORT Cell membranes help organisms maintain homeostasis by controlling what substances may enter or leave cells. Some substances can cross the cell membrane without any input of energy by the cell in a process known as passive transport. DIFFUSION The simplest type of passive transport is diffusion. Diffusion is the movement of molecules from an area of higher concentration to an area of lower concentration. This difference in the concentration of molecules across a distance is called a concentration gradient. Consider what happens when you add a sugar cube to a beaker of water. As shown in Figure 5-1, the sugar cube sinks to the bottom of the beaker. This sinking makes the concentration of sugar mole- cules greater at the bottom of the beaker than at the top. As the cube dissolves, the sugar molecules begin to diffuse slowly through the water, moving towards the lower concentration at the top. Diffusion is driven entirely by the molecules’ kinetic energy. Molecules are in constant motion because they have kinetic energy. Molecules move randomly, traveling in a straight line until they hit an object, such as another molecule. When they hit some- thing, they bounce off and move in a new direction, traveling in another straight line. If no object blocks their movement, they con- tinue on their path. Thus, molecules tend to move from areas where they are more concentrated to areas where they are less concentrated, or “down” their concentration gradient. In the absence of other influences, diffusion will eventually cause the molecules to be in equilibrium—the concentration of molecules will be the same throughout the space the molecules occupy. Returning to the example in Figure 5-1, if the beaker of water is left undisturbed, at some point the concentration of sugar molecules will be the same throughout the beaker. The sugar concentration will then be at equilibrium. SECTION 1 OBJECTIVES ● Explain how an equilibrium is established as a result of diffusion. ● Distinguish between diffusion and osmosis. ● Explain how substances cross the cell membrane through facilitated diffusion. ● Explain how ion channels assist the diffusion of ions across the cell membrane. VOCABULARY passive transport diffusion concentration gradient equilibrium osmosis hypotonic hypertonic isotonic contractile vacuole turgor pressure plasmolysis cytolysis facilitated diffusion carrier protein ion channel Sugar Water 1 2 3 FIGURE 5-1 Sugar molecules, initially in a high concentration at the bottom of a beaker, , will move about randomly through diffusion, , and eventually reach equilibrium, . At equilibrium the sugar concentration will be the same throughout the beaker. Diffusion occurs naturally because of the kinetic energy the molecules possess. 3 2 1 Copyright © by Holt, Rinehart and Winston. All rights reserved. 98 CHAPTER 5 It is important to understand that even at equilibrium the ran- dom movement of molecules continues. But because there is an equal concentration of molecules everywhere, molecules are just as likely to move in one direction as in any other. The random movements of many molecules in many directions balance one another, and equilibrium is maintained. Diffusion Across Membranes Cell membranes allow some molecules to pass through, but not others. If a molecule can pass through a cell membrane, it will diffuse from an area of higher concentration on one side of the membrane to an area of lower concentration on the other side. Diffusion across a membrane is also called simple diffusion, and only allows certain molecules to pass through the membrane. The simple diffusion of a molecule across a cell membrane depends on the size and type of molecule and on the chemical nature of the membrane. A membrane can be made, in part, of a phospho- lipid bilayer, and certain proteins can form pores in the membrane. Molecules that can dissolve in lipids may pass directly through the membrane by diffusion. For example, because of their nonpolar nature, both carbon dioxide and oxygen dissolve in lipids. Molecules that are very small but not soluble in lipids may diffuse across the membrane by moving through the pores in the membrane.

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