GMS 200 Lecture Notes - Lecture 3: Proxemics, Egalitarianism, Sustainable Development

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado

Document Summary

Key concepts in the challenges of globalization: global economy, globalization. Global economy: resource supplies, product markets, and business competition are world wide, rather than local. Globalization: the process of growing interdependence of these components in the global economy. Global management: management in organization with business interests in more than one country. Informed about international developments: transnational in outlook, competent in working with multicultural people, aware of regional developments in a changing world. Global businesses: conduct for-profit transactions of goods and services across national boundaries. Reasons why businesses go global: profits, customers, suppliers, capital, labor. Market entry strategies: involve the sale of goods or services to foreign markets but do not require expensive investments. Types of market entry strategies: global sourcing, exporting. Figure 3. 3 common forms of global business from market entry to direct investment strategies. Importing: buying foreign- made products and selling the domestically. Global sourcing: the process of purchasing materials or services around the world for local use.