[Management and Organizational Studies 2285] - Midterm Exam Guide - Everything you need to know! (56 pages long)

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2285
• Professor: Trevor Hunter

Document Summary

Corporations are separate legal entities, obligated to their. Why do firms internationalize lecture one: owners (shareholders, customers, employees, community. Legally required to make as much money as physically and legally possible. Profit is earned in two ways: lowering costs. Innovation new products or features that create more sales or higher sales prices. What works in one country may not work in another it goes beyond products ex. What facilitates globalization: the decline of barriers of movement of goods, services, investments, skills, etc, technology: computers, transportation, communications, etc. Businesses operate in complex environment, often full of uncertainty and turmoil. Uncertainty makes it difficult to operate efficiently. Four main aspects of the global business environment which differ and crease uncertainty and complexity: social systems, political systems, economic, systems, legal systems. The system of shared beliefs, values customs and behaviours culture. Different cultures have different perspectives toward many different issues including, religion, human rights, and role of business.