GMS 200 Lecture Notes - Lecture 3: Masculinity, Cif, Nonverbal Communication

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

Document Summary

Gms 200 chapter 3/ lecture 3 part 1: Global economy: worldwide network of independent countries that share resource supplies, product markets and a comp business environment. Whatever happens in one country matters to all of us. Globalization: growing interdependence among the components of the global economy. How can companies effectively participate in global economy: direct exporting: sell product to foreign customers. Can establish and maintain a relationship w foreign customers. Cant make too many mistakes, managers need to learn about foreign markets. More risk, ex: loss on transaction: indirect exporting: sell product to foreign customer through agent or distributor abroad. Requires limited knowledge of foreign markets since agents are in charge. Costs of doing business abroad is low. No opportunity to develop relationship w foreign customers (if conflict happens with agent your business could fall apart) Tricky working with agent because they might want a lot of share of the company.