GMS 200 Lecture Notes - Lecture 3: Southern African Development Community, Foreign Direct Investment, Economic Community Of West African States

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

Document Summary

Key concepts in the challenges of globalization: global economy, globalization, international management, global manager. Africa sadc (southern african development community), ecowas (economic community of west african. Global economy: resource supplies, product markets, and business competition are worldwide, rather than local or national in scope. Globalization: the process of growing interdependence among the component sin the global economy. World 3. 0: a world where nations cooperate in the global economy while still respecting one another"s national characters and special interests. Global management: management in businesses and organizations with interests in more than one country. Global manager: someone who is culturally aware and informed on international affairs. Reasons for engaging in international business: profits, customers, suppliers, capital, labour. Market entry strategies involved the sale of goods or services to foreign markets but do not required expensive investments. Types of market entry strategies: global sourcing: the process of purchasing materials, manufacturing components, or business services from around the world.