A polycentric attitude is the view that employees in the host country (the foreign country in which the organization is doing business) know the best work approaches and practices for running their business.
Managers with this attitude view every foreign operation as a different and difficult to understand. Thus, they’re likely to let employees in the host country figure out how best to do things.
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Benchmark is the standard of excellence against which to measure and compare.
- Joint ventures
A joint venture is an entity created when two or more firms pool a portion of their resources to create a separate, jointly owned organization.
- University of management
The reality that management is needed in all types and sizes of organizations, at all organizational levels, in all organizational areas, and in organizations no matter where located.
- Occurring agency problem
An agency problem that occurs because owners have limited access to company information, making executives free to pursue their own interests.
Leadership is what leaders do. It’s a process of influencing a group to achieve goals.
- Stalemate Business
Business with few some sources of advantage, most of them small. Skills in operational efficiency, low overhead and cost management are critical to profitability.
- Leverage Ratio
Leverage ratio identify the source of a firm’s capital-owners or outside creditors. The term leverage refers to the fact that using capital with a fixed interest charge will “amplify” either profits or losses in relation to the equity of holders of common stock.