Summarize Mother Tongue using 3 to 4 sentences. Include a single citation at the end for your selected reading.
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The role of multinational corporations is to reduce prices and increase purchasing power for consumers worldwide
Best Buy is a huge retailer that did not quite make it as a multinational corporation. It failed to launch in China and in Europe because the people in those areas do not like “big box” stores. They prefer to get their items from small, more personal shops. Best Buy also let it slip two years in advance on their plans for opening in the U.K. This allowed for competitors to get ahead of them and launch earlier. Two recommendations I would give Best Buy if they were to try to re-enter the global market would be to 1. Open small stores to make it feel more personal and 2. only offer name brand products and products that are not really sold in the area. This will give locals a reason to shop at the big name stores.
I was excited to learn about the differences in economies because I do not get to travel a lot so to know that not every country has the same type of market system is pretty cool.
The role of multinational corporations in the global business environment is to have many different companies running at the same time.
Toyota Motor Corporation was founded by Kiichiro Toyoda and was incorporated on August 28, 1937. The manufacturer headquarters is in Toyota Aichi Japan, It is the largest automobile manufacturer in the world followed by Volkswagen group based 2020 on units sales. Toyota was one of the first automobile manufacturer to produce more than 10 million vehicles per year. Toyota motor corporation produces vehicles under five brands including Toyota, Hino, Lexus, Ranz, and Daihatsu. Hybrid cars are big right now and Toyota is one of the largest global market leaders in sales of hybrid electric vehicles. Their vehicles are sold in North America, Europe, Australia, and some parts of Asia. One of the reasons that Toyota has been around by many years is that they take time doing research of their products before building their cars. The second thing is that they listen to customers needs and wants and that right there is huge because its a car being built of customers inputs. All I would recommend Toyota to do is keep asking customers for their inputs I have not heard any negative comments about Toyota only great things. I have taken away lots information about all of the different business types there is also the different economic systems. This helps me a lot just in case I do want to open a small business sometime down the road I know what to look for and what I need to start the business.
Based on the information presented in this section, I am most subject to negativity bias as I give negative reasons greater weight than positive reasons. This makes me less likely to take risks as I focus on all of the things that could go wrong and discount the potential positive outcomes. Recently, I had the opportunity to change jobs and almost passed on the opportunity due to all of the reasons why I should not take the job even though there were very positive reasons to accept.
To compensate for this bias, I have to rely on others around me that do not share that same bias to help me to think logically about key decisions. I also have to be open to giving positive information a greater weight when making decisions. For the situation above, I discussed with two individuals the benefits and risks of taking the new role and they helped me to come to an unbiased conclusion. I switched jobs and it was the best decision. Without having others to assist, I would have made a different decision.
Hi class – After reading through the section on different cognitive biases , I believe I subject to negativity bias sometimes. After having a negative experience with something whether it be within relationships, a phobia, etc. I tend to avoid the situation completely. One can even be a bad experience with trust, so you struggle with trust in relationships going forward. I also call myself worst case scenario Sabrina. I tend to overthink a situation and warp it to the most negative way it could possibly turn out. A personal experience I had was a horrible experience with a health professional. Because of that I avoided taking care of my health, I was so fixated on the negative experience. I am now in a better place by having surrounded myself with positive people who motivate me. Working on this includes changing up verbiage. Notice negative dialogue and have more positive approaches. “Even if you are facing a multitude of objectively negative situations, you can try to appreciate the positive aspects of your life, regardless of how small they may be.” (Jaworski, M.).
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