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? Define parochialism and explain why it can lead to problems. Contrast ethnocentric, polycentric, and geocentric attitudes towards global business. Describe the advantage and drawbacks of the three attitudes towards global business Understanding the Global Environment Describe the benefits from free trade. Tell why the European Union began Describe the current status of the European Union Discuss the North American Free Trade Agreement.