MGTA02H3 Lecture Notes - Accounting Software, Tax Treaty, Double Taxation
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MGTA02H3 Full Course Notes
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Globalization: movement of goods, services, technology, investment, ideas, and people around the world. Happened when trade barriers are reduced after wwii. Globalization strategies: companies use different strategies with different parts of the world. Global strategy: regards world as one big market with decisions made in headquarters. Adv: massive economic scale (produce bulk quantities) Disadv: require rapid syncing of global countries, and little care for individual cultures. Ethnocentric: the idea that everyone will want and respond to the product the same way. Multidomestic strategy: customizes products and marketing for local culture. Adv: better political, product, and responsiveness from local people. Polycentric: local management is best strategy for whats best. Transnational strategy: combines the best of global and multidomestic. Maintains needs of local culture, but still stay cohesive to the global scale. Products made cheap centrally, then marketing customizes locally. Geocentric: values both local differences and whats best for company. Often very difficult to maintain the balance between the 2 however.