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ARBUS 101 chapter 3 and 4.docx

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Arts and Business
Robert Sproule

ARBUS 101AFM 131CHAPTER 3 COMPETING IN GLOBAL MARKETSLisa Olfman and Joy Rosen Began with a spare bedroom Borrowed type writer and a 15000 bank loanWanted to produce and export worldclass TV programsFounded Portfolio Entertainment inc in 1991Both has experience in the industryOne of Canada leading independent producers and distributers of TV programsProduces and exports 20 million worth of programming a yearPromote through trade showsKeep in contact with all clients on the regularExport success lines in its strong relationships Joy RosenHead of Distribution and Marketing for Venture Entertainment GroupServed in international sales and marketing positions at Sullivan Entertainment Lisa OlfmanServed as General Manager and Executive Producer for Venture Entertainment GroupUsed to be supervising producer for Lorne Greenes New Wilderness Launched own television career as Associate producer on a number of game showscreated one of the first trivia based game shows on CTV YOU TELL USTHE DYNAMIC GLOBAL MARKET Idea of global business is now commonCanada is a market for 336 million people But there s 68 potential customers in 195 different countries MAKES UP GLOBAL MARKETLess than 74 live in developing countries technology education per capita income is lowBoth small and large companies are going globalGlobal markets offers ideas that work well elsewhere ex Pariss Velib programCompanies constantly review global operations to ensure theyre profitingGlobal trends hits companies hard ex Auto industrygas use of less large vehiclesGlobal trends cause effects that lead to lay offs loss of jobs or even the growth of jobs and suchGlobal market is dynamic and progressiveCompanies must ensure they are taking advantage of the opportunities and minimizing threatsCanada is a large exporting nationEXPORTING is sellings goods and services in another countryIMPORTING buying goods and services from another countryCompetition in exporting is intenseCanadian companies face aggressive competition GERMANY CHINA JAPANDemand for students with training in global business increases as number of businesses in global market increaseWhy trade with Other Nations No country can produce all of the products that its people want and needOther countries require the help of self sufficient countries to meet the needs and wants of its peopleAbundance of natural resources and lack of technological things China and Russia vice versa Japan and SwitzerlandGlobal trade allows one country to produce more of what it can produceBuying what a country needs from another country is a mutually beneficial changeFREE TRADE the movement of goods and services among nations without political or economic obstructionPROS OF FREE TRADECONS OF FREE TRADEGlobal market contains6million potential customers for goods andDomestic workers can lose services there jobs because of increased imports orComparative advantage production shifts to low allows productivity to grow wage global marketsGlobal competition andWorkers may be forced to cheap imports keep prices accepts wage cutsdown aka inflation does not curtail economicLoss of service and whitegrowth collar jobsInspires innovation for newDomestic companies can products and keeps firms lose their comparative competitively challenged advantage when competitors build advancedUninterrupted flow of production operations in capital gives countries lowerwage countries access to international investments keeping rates low
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