GMS 200 Lecture Notes - Lecture 4: Purchase, New York, Starbucks, Rolex

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

Document Summary

3. 1 explain what the management challenges are in going global. 3. 2 define what a global business is and what things it undertakes. 3. 3 explain what culture is and how it impacts global management. 3. 4 explain the benefits of developing global management skills. Is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Often aims to exploit global efficiencies in the delivery of a product/service. These efficiency include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. Involve the sale of goods or services to foreign markets but do not require expensive investments. The process of purchasing materials or services around the world for local use. Selling locally made products in foreign markets. Buying foreign-made products and selling them domestically. One firm pays fee for rights to make or sell another company"s products.