Lit 9: Responsible business in a global environment
27 important questions on Lit 9: Responsible business in a global environment
What are the 4 questions internationally involved businesses deal with?
2. In what form should we set up responsible business infrastructure in different countries
3. How can we manage global business activities in a responsible manner
4. How can we deal responsibly with the issues posed by managers' international activity
What are the 4 phases of Globally responsible management?
2. Assessing the global position - benchmarking against globally responsible business codes
3. Mapping global business activity
4. Managing glocally
What are the 7 key drivers of globalisation?
2. Global communication technology and internet access
3. Global transportation
4. Emergence of global standards
5. Rise of BRICS
6. Anti-globalisation movements and global non-governmental organisations (NGOs)
7. Global challenges and opportunities
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What are the 5 main globalisation trends that affect businesses?
2. Tendency towards global personal identity and both personal and professional relations instead of affiliating with a specific country or culture
3. MNCs taking on country-level responsibilities (e.g. Provision of public services)
4. The rise of global stakeholder organisations (especially in NGOs)
5. Increase in number of self-regulatory organisations
What are the 2 main approaches to responsible business and CSR?
2. Implicit CSR - refers to the fact that the role of corporations includes a concern for societal interests. It is baed on values, norms and rules in collective terms
What are the 4 local dimensions of Porter and Kramer's diamond model on national competitive advantage?
2. Factor (production inputs) conditions
3. Local stakeholder demand conditions
4. Related and supporting networks and industries
What is international business
What are the 6 categories of international firms?
2. Export businesses - produce goods with the sole aim of selling them to foreign markets
3. International mentality businesses - prioritise adaption to national cultural differences
4. Global companies - produce standardised products to be sold in markets worldwide
5. Transnational firms - attempts to combine global efficiency with local responsiveness
What are Carroll's 4 phases to achieve global business responsibility?
2. Legal responsibility - obey the law (required by global stakeholders)
3. Ethical responsibility - be ethical (expected by global stakeholders)
4. Philanthropic responsibility (be a good global corporate citizen. Act in accordance with what is desired by global stakeholders)
What are the 4 main factors managers need to consider before engaging in international business decisions?
2. Global externalities
3. Fairness of distribution
4. International development
What is BoP sourcing?
In what ways could global trade be improved?
2. Sustainable trade
3. Fair trade
4. Ethical trade
What is responsible trade?
What is sustainable trade?
What is fair trade?
What is ethical trade?
What is foreign market seeking?
What are the 3 most popular forms of sustainable market entry?
2. Sustainable infrastructure provision
3. Based of the pyramid ventures
4. International subsidiaries (through mergers, acquisitions and foreign direct investments)
5. Global strategic alliances
What are international subsidiaries?
What are global strategic alliances?
What are the 3 main types of strategic alliances?
2. Link alliances - sharing of complementary assets to facilitate expansion into new markets
3. Vertical and horizontal alliances - cooperating by moving up the value chain or on the same value level
What is cross-national diversity management?
What is cultural competence?
What are cross-cultural ethics?
How should managers overcome cross-cultural ethical problems?
What are the 3 forms of cross-cultural ethical conflicts?
2. When a certain aspect is morally significant in one culture, but not to another
3. When cultures attach a similar level of importance to an ethical issue, but have different ideas on how it should be solved
What is the main task leaders have?
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