International Management Session 2

The growing interconnectedness of economies, cultures, and populations worldwide due to cross-border trade, technology, and flows of investment, people, and information. It essentially means the world is becoming more integrated.

The systems of government that govern countries, including their political ideologies, structures, and processes. Examples include democracies, authoritarian regimes, and monarchies.

Legal rules and regulations imposed by governments on businesses within their jurisdictions, including regulations related to contracts, intellectual property, labor, and environmental protection.

A technological advancement that has significantly reduced the cost of communication, leading to a more connected global marketplace.

The interconnectedness of businesses across national borders, driven by factors like trade, investment, and technology. This leads to increased competition and the global spread of technological advancements.

The ability of even small and medium-sized enterprises (SMEs) to compete globally due to the availability of affordable and sophisticated information technology.

The growth of free trade and international economic integration, especially prominent in the 1990s.

The interconnectedness and interdependence of businesses and organizations across national boundaries, driven by various factors including globalization, technology, and the increasing complexity of operations.

Taxes imposed on imported goods to make them less attractive to consumers and protect domestic industries.

Policies designed to protect a country's domestic industries from foreign competition.

Hiring outside companies to perform tasks or produce goods previously done by in-house employees.

The practice of reducing an organization's size by eliminating jobs.

The combination of two companies into one, resulting in a single entity.

The takeover of one company by another, resulting in the acquiring company controlling the acquired company.

A significant global trade group that aims to reduce tariffs and make trade easier between member countries.

A trade agreement aimed at reducing trade barriers and promoting economic growth between Canada, Mexico, and the United States.

Determining if trading in a foreign market is beneficial and worthwhile considering its potential risks and rewards.

Developing a comprehensive strategy for expanding into global markets and ensuring successful implementation.

Knowing how to adapt products and services to meet the unique needs and preferences of a specific international market.

Understanding the importance of balancing marketing that generates demand with a strong sales plan to effectively capitalize on that desire.

Recognizing the significance of cultural differences and their impact on global trade, ensuring sensitivity and respect.

Knowing and adhering to all applicable legal regulations, both local and international, governing business operations in global commerce.

Proactively analyzing and considering economic, political, and legal factors to anticipate challenges and opportunities in global business.

Understanding the impact of economic changes, such as the decline of CD sales and the rise of streaming platforms, on global business.

The ability to understand and appreciate another culture's perspective.

A form of mental flexibility that allows individuals to consider multiple viewpoints and think beyond their own biases.

The ability to hold back one's own assumptions and biases to fully understand another person's perspective.

Actively listening to understand the nuances of someone's communication and the emotions behind their words.

The process of trying to understand another person's experience as if it were your own.

The process of building acceptance and understanding through active listening and empathy.

The ability to consider multiple viewpoints and adjust your communication style accordingly.

The ability to lead effectively by considering diverse perspectives and building empathy within a team.

The ability to cope with work stress by drawing strength from positive family connections. It's like a safe haven where you recharge and gain emotional energy.

Supporting family ties is crucial for managers. It's a vital resource for handling stress and regaining emotional balance.

A consistent, integrated way of seeing the world based on core values, guiding decisions, and defining meaning. It's about self-awareness and understanding others.

These are like the guiding principles that define what matters most to you. They shape your goals, relationships, and overall life direction.

Having a stable sense of purpose and a clear understanding of your values is key to a healthy and fulfilling life.

Emotional energy is vital for leading others, and it can be enhanced by strong, positive relationships.

Strong values and a unified philosophy of life are essential for managers to navigate complex situations and build meaningful connection with others.

A desire to continuously seek out new information and experiences. Successful international managers go beyond just curiosity and actively learn from their environment. They view each situation as a potential learning opportunity, even the seemingly mundane, to expand their knowledge and skills.

Not being afraid to admit what you don't know and actively seeking knowledge from diverse sources. This is the opposite of being defensive. International managers are open to learning from anyone and everyone.

International managers prioritize the present moment and focus on fully experiencing it. They view each moment as unique and appreciate even the simplest events.

The capacity to understand and learn from experiences. International managers are highly adaptable and apply what they learn to various situations.

Successful international managers are skilled at staying engaged in the present without completely neglecting the past or future. They integrate experiences into their present actions, making them more effective leaders.

International managers embrace opportunities to learn from others, often pursuing diverse activities beyond their immediate roles. They actively seek out new experiences to broaden their perspectives.

This is a valuable trait for international managers who need to adapt to different cultures and time zones. It involves recognizing the value of different perspectives and being flexible with time management.

Being aware of the importance of both formal and informal learning opportunities. International managers leverage diverse avenues to expand their knowledge and skills.