GMS 200 Lecture Notes - Lecture 3: Market Entry Strategy, International Business, International Trade

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

Document Summary

Chapter 3 - global dimensions of management part 1. Global economy: a worldwide network of interdependent countries that share resource supplies, product markets and a competitive (exam as blank) Globalization: process of growing interdependence (connecting countries, more linked to each other) among the components of the global economy. International trade, labor such as people moving countries for jobs, good and services, buying assets by converting currency to buy what you want to buy, talented immigrants. Direct exporting: sell your product directly to foreign customers. Indirect exporting: sell your product to foreign customers through an agent or distributor abroad. Can establish and maintain a relationship with foreign customers. Can control the pricing of your product. Get a larger share of the profit, it any. Managers have to learn about foreign markets. No opportunity to develop a relationship with foreign customers. Pay another company a fee for the right to make or sell a product in particular country or region.