GMS 200 Lecture 3: Chapter 5 Global Management and Cultural Diversity
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Common forms of international business -- from market entry to direct investment strategies business services around the world. Global sourcing process of purchasing materials, manufacturing components, or locating home access cheaper energy, stable wage rates, better quality control, and good public. Reduce outsourcing and do more reshoring--moving foreign manufacturing and jobs back relations by starting or expanding domestic operations. Exporting selling locally made products in foreign markets. Importing buying foreign-made products and selling in domestic markets. Licensing foreign firms pay a fee or rights to make or sell another company"s products in the. Franchising form of licensing in which a foreign firm buys the right to use another"s name and operating methods in its home country w. g. Sell facility designs, equipment, product ingredients, recipes and management systems to foreign investors, while retaining certain brand, product and operating controls. specified region, grants access to unique manufacturing technology, special patent or trademark.