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International Management The Political Legal And Technological Environment Notes

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This is an extract of our International Management The Political Legal And Technological Environment document, which we sell as part of our International Management Notes collection written by the top tier of University Of Exeter (Business School) students.

The following is a more accessble plain text extract of the PDF sample above, taken from our International Management Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

The Political, Legal and Technological Environment

TERMS

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Individualism - The political philosophy that people should be free to pursue economic and political endeavours without constraint

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Collectivism - The political philosophy that views the needs or goals of society as a whole as more important than individual desires

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Socialism - A moderate form of collectivism in which there is government ownership of institutions and profit is not the ultimate goal.

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Democracy - A political system in which the government is controlled by the citizens either directly or through elections.

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Totalitarianism - A political system in which there is only one representative party which exhibits control over every facet of political and human life.

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Principle of Sovereignty - An international principle of law which holds that governments have the right to rule themselves as they see fit.

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Biotechnology - The integration of science and technology to create agricultural or medical products through industrial use and manipulation of living organisms.

POLITICAL ENVIRONMENT

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Domestic and international political environments have a major impact on MNC's. As government policies change MNC's must adjust their strategies and practices.

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Underlying the actions of a government is the ideology informing the beliefs, values, behaviour and culture of the nation and its political system.

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Effective management occurs when different ideologies and philosophies are recognised and understood.

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A political system can be evaluated along two dimensions o

Focuses on the rights of citizens under governments (ideology of the system)

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Measures whether the focus is on the individuals or broader collective (Degree of individualism/collectivism)

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Democratic = individualism

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Totalitarian = collectivism

Ideologies

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Idea is that working in in a group requires less energy per person to achieve the same goal, but an individual will work as hard as he or she has to in order to survive in a competitive environment.

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