Terminology

No	Word	Definition
1	Multinational corporations (MNC)	Is a company that maintains significant operations in multiple countries simultaneously, but manages them all from one base in a home country.
2	A transnational corporation (TNC)	Is a company that maintains significant operations in more than one country simultaneously, but decentralizes management to the local country. It reflects the polycentric attitude.
3	Borderless Organization	Is a global type of organization in which artificial geographical barriers are eliminated so that the management structure can be more effectively globalized. It reflects the geocentric attitude.
4	Monolingual Attitude	Effectiveness is about doing the right things.
5	Parochialism	Is a narrow attitude of people thinking that their local ways are better than the foreign ways, and thus, such managers would find difficulty to compete with other companies that are seeking to understand differences.
6	Ethnocentric	Is a parochialistic belief that the best work approaches and techniques are those of the home country, the country in which the company's headquarters are located

Terminology

7	Polycentric	Is the view that the managers 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
8	Geocentric	Is a global attitude, which is world oriented that focuses on using the best approaches and people around the globe