Critical thinking Skills quizlet

a countries economic enviorment that companies must consider when going global is defined by the

infrastucture that it has in place and the purchasing power of its citizens

Governance ESG

"good corporate governance" is itself inherently a social good. management/board transparency and accountability to shareholders reasonable compensation policy for all employees efforts to reduce the principal-agent problem greater board diversity Corporate Social Responsibility

how esg impacts product pricing

(bottom of the pyramid marketing, how to ethically price for a low income segment of the population)

regulatory and legal interventions

- Achieve greater strategic freedom through deregulation -Earn subsidies and government support

top line growth vs. underline growth

- bottom line growth- reducing costs - top-line growth - increasing sales and revenue

How management integrates

- diversity -labor management - governance (board of directors

Whats in it for me inclusive leadership? Why be an inclusive leader

- human beings are a social species, one species one race - The thriving ecosystems are those that are the most diverse -cultivating our inclusive leadership skills serves us all

Financial tie ins to esg

- stake holders vs. stockholders - This expands the responsibility of a company beyond expanding shareholder wealth - sustainability investing

How a strong esg position makes top line growth

-Attract B2B and B2C customers with more sustainable products -Achieve better access to resources through stronger community and government relations

Marketing

-Communicates values to the public -Must align with ESG strategy -Can impact product pricingPlace (distribution) -also relates to ESG in the same way as SCMT 4Ps

How accounting is integrated in esg

-Effective ESG increases a company's profitability -Economic responsibility is the foundation of ESG -Accounting firms can audit these reports in some cases

embargos

-Embargos aren't about the economy, they are political weapons -Apartheid ended bc America put sanctions( embargo, trade block) on South Africa

investment and asset optimization

-Enhance investment returns by better allocating capital for the long term (eg, more sustainable plant and equipment) -Avoid investments that may not pay off because of longer-term environmental issues

How esg makes cost reductions

-Lower energy consumption -Reduce water intake

Benefits of global trade

-Productivity grows more quickly when countries produce goods and services in which they have a comparative advantage. Living standards can increase faster. One problem is that big G20 countries have added more than 1,200 restrictive export and import measures since 2008. -Global competition and cheap imports keep prices down, so inflation is less likely to stop economic growth. However, in some cases, this is not working because countries manipulate their currency to get a price advantage. -An open economy spurs innovation with fresh ideas from abroad. -Through the infusion of foreign capital and technology, global trade provides poor countries with the chance to develop economically by spreading prosperity. -More information is shared between two trading partners that may not have much in common initially, including insight into local cultures and customs, which may help the two nations expand their collective knowledge and learn ways to compete globally.17

Unconciuous biases

-are human -do not necessarily align with our conscious declared beliefs -generally favor those who are most like us -con potentially hinder our decision making and influences inclusion

four critical thinking skills

-data literacy -Critical reasoning and evaluation -communication effectiveness -constructing and critiqueing an argument

Multinational's corporate social responsibility

-respecting local practices and customs, ensuring that there is harmony between the organization's staff and the host population, providing management leadership, and developing a solid group of local managers who will be a credit to their community. When -When a multinational firm makes an investment in a foreign country, it should commit to a long-term relationship.

what do the countries in green have in common

1,000 is written numerically as 1.000,0

Steps to demonstrate critical thinking step 1

1. Organize the information a. identify the data items provided b. read and interpret the data that you have c. consider how you might characterize or classify the data d. If appropriate, consider what data might be missing, or what additional information you need.

Step 2 to demonstrate critical thinking skills

2. Define the problem -may be articulated or not a. In a close-ended situation such as a class assignment, clarify what is being asked and what needs to be solved b. In an open-ended situation such as a case study, analyze the situational environment to define the problem

Step 3 to for demonstrating critical thinking skills

3. Analyze the data (explore and evaluate all of the facts, measurements, and other data to build corroborating evidence.) a. Identify data that move your interpretations toward a certain position. Look for and connect additional evidence that also supports this position. b. Identify data that move your interpretations toward an opposite or alternative position. Look for and connect additional evidence that also supports that position. c. Clarify the criteria for determining what is important and relevant in this situation. Which stakeholders' needs are the most important? d.For each data point ask: -Which position does it support, how stong is it, Is the data valid? (Does it measure what it intends to measure?) - Is the data reliable? (Is it complete and accurate? Does it come from a reputable source that provides consistent results?) -Is the data relevant? (Is the data needed to help solve the problem?) -Is there any underlying or hidden bias? -Is the data provided sufficient for supporting a position?

step 4 for displaying critical thinking skills

4. Construct arguments that address the problem (The outcome of this step is the preparation of alternative arguments that address the problem, question, or opportunity.) a. develop alternative solutions b. based on your corroborating evidence, develop 2 or three solutions to the problem c. Consider Stakeholder points of view and include those to support each solution d. For each solution: -List and prioritize the reasons that support it. Acknowledge the reasons that don't support it. -Differentiate facts from assumptions and opinions. -If appropriate, develop a pros and cons comparison. -Clarify the actions that would be taken and recognize the possible consequences.

How supply chain and Marketing integrates into esg

4ps

Step 5 For displaying critically thinking skills

5. Critique the Arguments An argument is an opportunity to develop and defend an idea. Once arguments have been developed, you evaluate and critique them by asking questions and applying logic. Evaluating strengths and weaknesses will help you prepare arguments that can be defended from the scrutiny of others. This step is also applied to the arguments prepared by others. a. Make sure the argument accurately addresses the original problem. b. Evaluate evidence for credibility and support of the argument. c. Identify the assumptions, biases, or gaps in reasoning that could weaken your argument. d. Consider and prepare counterarguments. e. If appropriate, as a final step, select the "best" or "strongest" argument as your position.

resume

A living document A teaser trailer of your candidacy, not the entire film Provides employers with enough information to decide if they'd like to learn more Should only include college experiences after completion of your freshman year

trade deficit

An excess of imports over exports

Business negotiators in this country have a reputation for toughness, yielding very little. Part of their immobility is because they are generally averse to risk. Personal relationships are far more important than corporate ones. Each time your company changes its representative, you will essentially be starting from scratch. New alliances must be built up before business can proceed.

Argentina

How the career center can help you

Career exploration Resume and cover letter reviews HireAggies Portal Interview preparation Offer & salary negotiation Workshops, webinars, class presentations Graduate and professional school advising

The native language in this country does not have grammatical tenses, therefore time indicators such as last/next week, yesterday/tomorrow, or specific dates/times are very important to clarify when something happens. Because of this, punctuality and reliability is highly regarded in meetings, deadlines, and deliverables.

China

SCMT intergration

Clean supply chains are a critical component of ESG from a social (i.e., labor) and environmental perspective.

Step 6

Communicate your conclusion (It is not enough to construct an organized and logical argument; you must also communicate your argument clearly and convincingly to others, so that it can stand up to their critiques and challenges.) a. Organize your ideas to flow in a logical order. Your communication choices will be situational, but a typical approach might follow this order: - Explain the context for the problem. - Clearly define the problem in a single statement. Succinctly state several alternatives for solving the problem. - Position your arguments for and/or against the alternatives, providing evidence and addressing counterarguments. -Summarize your position as a conclusion. b. Use effective communication. c. Avoid the pitfalls of poor communication that can weaken your position.

potential 3 ps answer

Consider 3M, which has long understood that being proactive about environmental risk can be a source of competitive advantage. The company has saved $2.2 billion since introducing its "pollution prevention pays" (3Ps) program, in 1975, preventing pollution up front by reformulating products, improving manufacturing processes, redesigning equipment, and recycling and reusing waste from production.

What is critical thinking?

Critical thinking is the objective analysis and evaluation of data to form a judgment.

how every company is a little government

Every company, which is itself a legal creation, requires governance.

When doing business in this country, it's best to avoid giving a "gig'em" in a picture with your business partners. The thumbs up gesture is considered extremely rude.

Greece

This country is one of the United States' most important trade partners. It is the third largest exporter to the US, and its international trade products include oil exports, tourism, and the products of its many assembly plants.

Mexico

4Ps of Marketing

Product, Price, Place, Promotion

shareholders and stakeholders in esg

Shareholders and stakeholders do not compete in a zero-sum game. Quite the opposite: building a strong connection with broad elements of society creates value, not least because it builds resilience into the business model.

As one of the most diverse countries in the world, this country has 11 official languages. English is generally the language in international business. When demonstrating a point, locals may use metaphors and sports analogies. So, it's important to learn what kind of sports they play in this country, or you may strike out in business

South Africa

global vision

The ability to recognize and react to international business opportunities, be aware of threats from foreign competition, and effectively use international distribution networks to obtain raw materials and move finished products to customers.

Free trade

The policy of permitting the people and businesses of a country to buy and sell where they please without restrictions.

Result of Comparative Advantage

The result is more goods at lower prices than if each country produced by itself everything it needed.

stranded investments

The rules of the game are shifting: regulatory responses to emissions will likely affect energy costs and could especially affect balance sheets in carbon-intense industries. And bans or limitations on such things as single-use plastics or diesel-fueled cars in city centers will introduce new constraints on multiple businesses, many of which could find themselves having to catch up. One way to get ahead of the future curve is to consider repurposing assets right now

the united states

We export a fifth of our industrial production and about a third of our farm crops.

pyramid of corporate social responsibility

a model that suggest corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that the firm's economic performance supports the entire structure

the majority of corporations

act legally and try to be socially responsible

secondary diversity dimension

appearance, working style, language/accent, parental/ family status.], communication style, marital family status, geographic location, education/ religion

Sustainable development goals

are not specifically tailored to a country they are broad and universally applicable - they are not mandatory

The "OK" gesture (a circle of index finger and thumb with other fingers pointed out) is considered vulgar in this country and a few others.

brazil

as a business student, you will apply critical thinking towards case studies...

but as a business professional you will apply these to real world situations and make decisions that impact your organization's strategy, employee engagement, customer satisfaction, operational efficiency, and financial performance.

stake holder value esg

companies should try to serve the interest of all stakeholders instead of maximizing stockholder value

free trade

comparative advantage and absolute advantage acts work to stimulate trade When nations allow their citizens to trade whatever goods and services they choose without government regulation, free trade exists. Free trade is the policy of permitting the people and businesses of a country to buy and sell where they please without restrictions. - Barriers to free trade- tarriffs, protective tariffs, quotas, embargo,

cultural diversity dimension

conflict resolution, traditions observations, flexible or structured, individual or team, personal space, time, being or doing, time, competition or cooperation, body language, power and authority

Illegal and irresponsible behavior

creates financial ruin for some companies

inclusive leadership is a

critical skill to being a purpose lead and values driven person in the 21st century and beyond

critical thinking definition

critical thinking is the objective analysis and evaluation of data to form a judgement

organizational diversity dimension

division department, work experience, industry, management status, location, level, role in company, union affiliation,

Having a global vision and supply chain cross over in that

having a global vision is effectively using international distribution networks to obtain raw materials and move finished products to the customer.

core values vs. aspirational values

if your not living in congruence with our values, (actions, association, career choices,) then can we really call them values?

Intersectionality

individual lived experiences are influenced by their multi-layered dimensions of diversity and self identification

intrinsic values

intangible rewards related to motivation or satisfaction - being able to help other -feeling respected or loved -working for a cause you believe in - helping society - able to express self and creativity

Critical thinking

is a framework for how to reason through problems

2 basic dimensions in esg

legality and responsibility

triple bottom line

people, planet, and profit; measures an organization's social, environmental, and financial performance

Diversity dimensions

personality, primary, secondary, organizational, cultural

inclusive leadership

mindset and behaviors that create and maintain a culture of care and belonging that strives to support all ppl so every person has the same oppurtunities to reach their full potential

adaptation in globalization

mixing standardization and customization in a way that minimizes costs while maximizing satisfaction -essence of segmentation -think globally, act locally or vice versa

distribution relates to esg in the same way as scmt

primary suppliers may hire irresponsible subtractors.

How ESG overlaps the supply chain (found in productivity uplift section)

productivity constraints can also manifest outside of your company's four walls, across the supply chain. Primary suppliers often subcontract portions of large orders to other firms or rely on purchasing agents, and subcontractors are typically managed loosely, sometimes with little oversight of workers' health and safety.

primary diversity dimension

race gender, identity, ethnicity, mental/ physical ability, sexual orientation, sex, age

Extrinsic values

relating to rewards to "perks" - having control or power - being rewarded monetarily - traveling - having prestige and recognition

systematic advantage

social structures conferring benefits that are not accissable to all but are accessible to some by the virtue of their dimensions to diversity

ally (noun)

someone willing to use their power to advocate for and support people in less advantaged situations

balance of trade

the difference between a country's total exports and total imports

Intersectionality

the interconnected nature of race social categorizations such as race, class, and gender as they apply to a given individual or group, regarded as creating overlapping and interdependent systems of discriminations

unconscious bias

the patterns our brains create based on our experiences that influence how we make decisions and how we influence the world

what do the countries in red all have in common

they all use the dd/mm/year format

comparative advantage

this specialization ensures Greater product availability at lower prices, thus acts to stimulate trade

ally(verb)

use one's power to advocate for and support people in less advantaged positions

ways to understand culture

use your objective and subjective knowledge

inclusion

what we do

belonging

what we feel

diversity

what we have

trade surplus

when a country exports more than it imports

Critical thinking skills

will be your key objective in business when they expect you to make decisions and take actions that contribute to your intended results

Standardization

you don't adapt your product or service for the market

Reasons for going global

• Earn additional profits-If a firm has a unique product or technological advantage not available to other international competitors, this advantage should result in major business successes abroad. • Unique product or technological advantage - • Exclusive market information leading to a competitive advantage • Saturated domestic markets • Excess capacity • Potential for cost savings