GMS 200 Lecture Notes - Lecture 3: Protectionism, Economic Community Of West African States, Regional Comprehensive Economic Partnership

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

Document Summary

Learning objectives: explain what the management challenges are in going global, define what a global business is and what things it undertakes. Global economy: resource supplies, product markets, and business competition are worldwide, rather than local. Globalization: the process of growing interdependence of these components in the global economy. Global management: management in organizations 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, labour. Market entry strategies: involve the sale of goods or services to foreign markets but do not require expensive investments. Global sourcing: the process of purchasing materials or services around the world for local use. Exporting: selling locally made products in foreign markets. Importing: buying foreign-made products and selling them domestically.