GMS 200 Lecture Notes - Lecture 3: Global Sourcing, Insourcing, Stamen

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Lori Anne Heckbert

Document Summary

Resource supplies, product markets, and business competition are worldwide, rather local. The process of growing interdependence of these components in the global economy. Management in organization with business interests in more than one country. Aware of regional development in a changing world. Conduct for-profit transaction of goods and service across national boundaries. Involves the sale of goods to service to foreign markets but not require expensive investments. Global sourcing: the process of purchasing materials of service around the world for local use. Exporting: selling locally made products in foreign markets. Importing: buying foreign-made products and selling the domestically. Licencing agreement: one firm pays fee for rights to make or sell another company product. Franchising: a fee is paid for rights to use anther firms name and operating methods. Foreign direct investment: building, buying, all, or buying part ownership of a business in another country. Joint ventures: operates in a foreign country through co-ownership by foreign and local partners.