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Principles of Management - Management in a Global Environment

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Study GuidePrinciples of Management–Management in a GlobalEnvironment1. The International EnvironmentManaging a business across national borders is challenging.International managersmust deal withmany differences that do not exist when working only within one country. To be successful, they needtraining, awareness, and constant attention to theforeign environment.In particular, international managers must carefully monitor five major areas:•Political•Legal•Economic•Sociocultural•TechnologicalEach of these can strongly affect how a business operates abroad.1.1The Political EnvironmentThepolitical environmentplays a major role in international business. It can eithersupport orrestrict economic growth and foreign investment, and it can change very quickly.Political risks include:•Sudden changes in government leadership•Unstable governments that lack public support•Citizen groups opposing foreign companies•Local governments that distrust foreign firmsPolitical decisions are oftenunwritten and unpredictable. Governments may impose:•Tariffs(taxes on imports)•Quotas(limits on how much can be imported)•Embargoes(complete bans on trade)

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Document Details

University
Texas A&M University
Course
Principles of Management
Subject
Management

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