4–2 L E A R N I N G O U T L I N E Follow this Learning Outline as you read and study this chapter. What Your Global Perspective? Contrast ethnocentric, polycentric, and geocentric attitudes towards global business. Explain why it’s important for managers to be sensitive to global differences Understanding the Global Environment Describe the current status of the European Union. Discuss the North American Free Trade Agreement and other regional trade alliances in Latin America. Tell about the Association of Southeast Asian Nations. Explain the interdependence that globalization involves. Discuss the role of the WTO. 4–3 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. Doing Business Globally Contrast MNCs, TNCs, and anizations. Describe the three anizations go through as they go global. Define exporting, importing, licensing, and franchising. Describe global strategic alliances, joint ventures, and foreign subsidiaries. Managing in a Global Environment Explain how the global legal-political environment affects managers. Discuss Hofstede’s five dimensions for assessing cultures. 4–4 L E A R N I N G O U T L I N E (cont’d) Follow this Learning Outline as you read and study this chapter. Managing in a Global Environment (cont’d) Explain the nine GLOBE dimensions for assessing cultures. Discuss the challenges of doing business globally in today’s world. 4–5 Managing in a Global Environment Challenges Coping with the sudden appearance of petitors Acknowledging cultural, political, and economic differences Dealing with increased uncertainty, fear, and anxiety Adapting to changes in the global environment Avoiding parochialism 4–6 Adopting a Global Perspective Ethnocentric Attitude The parochialistic belief that the best work approaches and practices are those of the home country. Polycentric Attitude The view that the managers in the host country know the best work approaches and practices for running t