Management and Organizational Studies 2275A/B Lecture Notes - Lecture 1: Product Differentiation, Outsourcing, Economic Nationalism

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Chris Torrence

Document Summary

It is the process of nations and corporation moving into one common culture and market place. In economic context, globalization is the movement of goods, services, technology, investment, ideas and people throughout the world: has increased drastically due to, trade barriers being reduced, rapid growth of technology, communication and travel after ww2. Positive effects of globalization: outsourcing, lower prices, more jobs. Negative effect: lost canadian jobs, fear of job loss, loss of canadian productivity, exploitation of cheap labor, unhealthy products, spread of disease. Positive effects on canada: loss of jobs (more higher position jobs, less jobs in total, north america more powerful as a whole. Increase product differentiation: greater responsiveness to local needs, advantages, examples (cid:523)mcdonald"s(cid:524) Multidomestic strategy (polycentric mnc: tries to customize product, service, and marketing for the local culture, polycentric mnc: the idea that local management is most capable of determining what is best for the local subsidiary.