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ADMS 4570 (9)
Lois King (5)
Lecture

CHAPTER 7.docx

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Department
Administrative Studies
Course
ADMS 4570
Professor
Lois King
Semester
Fall

Description
CHAPTER 7 Competing internationally present many problems but it can also provide many opportunities for firms to increase their revenue base and profitabilityYou must create value and a competitive advantage in the global marketplaceIt is estimated that by 2015 trade across nations will exceed the trade within nationsGlobalization has helped to transfer nearly 2 trillion from rich countries to poor countries through equity bond investments and commercial loansThere is still a lot of poverty and disparities in wealth Factors affecting a Nations CompetitivenessFactor EndowmentsoThe nations position in factors of production such as skilled labour and infrastructure necessary to compete in a given industry labour and capitaloFactors of production must be industry and firm specificoThe speed and efficiency with which resources are deployed is more important than how much you haveoA firms specific knowledge and skills created within a countrythat are rare valuable difficult to imitate and rapidly and efficiently deployed is what gives a nation its competitive edgeoEx Japanese has little land mass for warehouses But by employing a Just In Time Inventory system they were able to not deal with storage costs and got a competitive edgeDemand ConditionsoThe nature of home market demand for the industrys product or service oWhen there are very demanding consumers in your market you must constantly innovate and upgrade the quality fo your products and servicesoEx Denmakr is known for its environmental awareness Consumers demand environmentally safer products so Danish manufacturers became leaders in water pollution control equipmentRelated and supporting industries
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