ADM 1300 Lecture Notes - Lecture 2: Southern African Development Community, North American Free Trade Agreement, Multinational Corporation

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Devinder Gandhi

Document Summary

Key concepts in the challenges of globalization: global economy, globalization. Global economy: resource supplies, product markets, and business competition are worldwide, rather than local. Globalization: the process of growing interdependence of these components in the global economy. Global management: management in organizations with business interests in more than one country. Informed about international developments: transnational in outlook, competent in working with multicultural people, aware of regional developments in a changing world. Global businesses: conduct for-profit transactions of goods and services across national boundaries. Market entry strategies: involve the sale of goods or services to foreign markets but do not require expensive investments. Types of market entry strategies: global sourcing. Global sourcing: the process of purchasing materials or services around the world for local use. Exporting: selling locally made products in foreign markets. Importing: buying foreign-made products and selling them domestically. Licensing agreement: one firm pays fee for rights to make or sell another company"s products.