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MGT 340 - Week 2 Notes

by: Rose_Esqui

MGT 340 - Week 2 Notes MGT 340 100


GPA 3.6
International Management

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MGT340 -- Week 2 notes for Professor Hwang's class. A detailed mixture of his power points and textbook material all simplified for easier understanding. Extremely straightforward with highlighted ...
International Management
Class Notes
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This 4 page Class Notes was uploaded by Rose_Esqui on Sunday October 4, 2015. The Class Notes belongs to MGT 340 100 at Pace University - New York taught by Hwang in Fall 2015. Since its upload, it has received 11 views. For similar materials see International Management in Business, management at Pace University - New York.

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Date Created: 10/04/15
Chapter 2 The Political Legal and Technological Environment 1 Ideolo ies A people should be free to pursue economic and political endeavors without constraint 1 Philosophers who stood by it a David Hume b Adam Smith c Aristotle 2 In business context similar to capitalism and connected to free market society a Private property more successful productive and progressive than communal property b Betterment of society related to level of freedom individuals have in pursuing economic oals B Views needs or goals of society as a whole as more important than individual desires 1 Philosophers who stood by it a Plato 2 Does not value individual as such 3 No rigid form of collectivism as societal goals differ greatly among cultures a Fascism nationalism authoritarianism militarism corporatism collectivism totalitarianism C a moderate form of collectivism in which there is government ownership of institutions and profit is not the ultimate goal 1 Philosophers who stood by it a Karl Marx b Friedrich Engels 0 Vladimir Ilyich Lenin 2 Practiced in a China b North Korea c Cuba 3 Democratic socialism is the more moderate form a Practiced by Great Britain s Labour Party France Spain and Greece 4 Communism is the extreme form of socialist thought 11 Political Environment A Ideologies underlie the actions of governments 1 Ideas that re ect beliefs and values in uence the behavior and culture of nations and political systems B Political systems can be evaluated along two dimensions 1 Rights of citizens based on a system of government ranges from democratic to totalitarian 2 Focus of political system on individualism vs collectivism C Democratic nations tend to emphasize individualism and totalitarian nations tend to emphasize collectivism 1 No pure form of government HI Political S stems A i system in which government is controlled by citizens either directly or through elections 1 European roots 2 A democratic society cannot exist without at least a twoparty system a Once elected a representative is held accountable to distribute the right to vote to the eo 1e which limits power of government B only one representative party which exhibits control over every facet of political and human life International Management Page 1 1 Power maintained by suppression of opposition a Dominant ideals include i Media censorship ii Political repression iii Denial of rights and civil liberties C Regional Examples 1 China a Emerging economic power b Government attempting to open up economy by i Speeding up conversion of state enterprises into corporations ii Making trade liberalization a top priority since joining WTO in 2001 iii Becoming a more open democratic society iv Developing a greater tolerance of individual freedoms v Worker retraining lowcost housing and other programs vi Seeking to unleash a more dynamic market economy 2 Europe a Privatization and economic liberalization reinforce EUwide political and economic integration i Political power is variable and complex ii Strong opposition to USled intervention in Iraq sometimes spill over into business relationships and dealings b Europe is a large interwoven region economically but contains vast cultural differences 3 The Middle East a Iran and Saudi Arabia laws and government based on Islamic principles b Business conduct in the Middle East is similar to Western in many ways i Worldwide fallout from war on terrorism have made the business environment risky and potentially dangerous 4 Russia a Neglect and confusing changes in economic policy b Infrastructure is weak and a political quagmire i a difficult situation c Corruption interferes with attraction of more foreign investment IV Legal amp Regulatory Environment A Confusion and challenge for the MNC due to many different laws and regulations in global business operations B MNCs must carefully evaluate legal framework in each market before doing business V Global Foundations of Law A Islamic Law 1 Derived from interpretation of the Qur an amp teachings of Prophet Muhammad 2 Found in Islamic countries a The Middle East b Central Asia B Socialist Law 1 Derives from the Marxist Socialist System 2 Requires most property to be owned by state or state enterprises 3 Continues to in uence regulations in former communist countries a Members of the Former Soviet Union b Peoples Republic of China c Vietnam d North Korea e Cuba C Common Law 1 Derives from English Law International Management Page 2 2 Foundation of legal system for a United States b Canada 0 England 1 Australia e New Zealand D Civil or Code Law 1 Derived from Roman Law 2 Found in nonIslamic and nonsocialist countries a France b Some Latin American countries c Louisiana VI Basic Principles of International Law A Sovereignty amp Sovereign Immunity 1 Principle of Sovereignty an international principle of law which holds that governments have the right to rule themselves as they see fit B International Jurisdiction 1 holds that every country has jurisdiction over its citizens no matter where the are located 2 holds that every nation has the right of jurisdiction within its legal territor 3 h holds that every country has jurisdiction over the behavior that adversely affects its national security even if that conduct occurred outside the country C Doctrine of Comity 1 Doctrine of Comity a jurisdictional principle of international law which holds that there must be mutual respect for the laws institutions and government of other countries in the matter of jurisdiction over their own citizens D Act of State Doctrine 1 Act of State Doctrine a jurisdictional principle of international law which holds that all acts of other governments are considered to be valid by US courts even if such acts are illegal or inappropriate under US law E Treatment amp Rights of Aliens 1 Treatment amp Rights of Aliens countries have the legal right to refuse admission of foreign citizens and to impose special restrictions on their conduct right of travel where they can stay and what business they may conduct 2 Nations can also deport aliens F Forum for Hearing amp Settling Disputes 1 Forum for Hearing amp Settling Disputes US courts can dismiss cases brought before them by foreigners 2 However they are bound to examine issues such as a Where the plaintiffs are located b Where the evidence must be gathered c Where property to be used in restitution is located VII Legal amp Regulatory Issues A Dominantly financial amp service regulations B Foreign Corrupt Practices Act states it is illegal to in uence foreign officials through 1 Personal Payment bribery to foreign o icials 2 Political Contribution type of contribution donation i e money service ideas etc made to some worthwhile government cause C Restrictive Bureaucratization 1 Prevents business growth and innovation D Privatization 1 The transfer of ownership property or business from the government to the private sector VIII Regulation of Trade amp Investment International Management Page 3 A Individual countries use legal and regulatory policies to affect the international management environment B Country is perceived to engage in unfair trade practices WTO and similar agreements 1 Government support subsidies 2 Require MNCs to accept local partners C Responses may be 1 Retaliatory tariffs 2 Restrictive trade regulations IX Technological Environment amp Global Shifts in Production A Technology Biotechnology Nanotechnology Satellites Automatic translation telephones Artificial intelligence and embedded learning technology Advancements in computer chip technology Supercomputers B Eb siness 1 Business to business B2B 2 Business to consumer B2C 3 Etailing 4 Financial services ecash C Telecommunications D Technology Outsourcing and Offshoring 1 Technology has reduced and eliminated middle management and White collar jobs 2 Global competition has forced some MNCs to outsource jobs to offshore productions 3 Emerging technology makes work more portable owewwr International Management Page 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