MAN 4602 Lecture Notes - Lecture 1: Planned Economy, Nationstates
Document Summary
This chapter has shown how the world economy is becoming more global and reviewed the main drivers of globalization, arguing that they seem to be thrusting nation-states toward a more tightly integrated global economy. It looked at how the nature of international business is changing in response to the changing global economy, discussed concerns raised by rapid globalization, and reviewed implications of rapid globalization for individual managers. Over the past three decades, we have witnessed the globalization of markets and production. The globalization of markets implies that national markets are merging into one huge marketplace. However, it is important not to push this view too far. The globalization of production implies that firms are basing individual productive activities at the optimal world locations for the particular activities: as a consequence, it is increasingly irrelevant to talk about american products, Japanese products, or german products because these are being replaced by.
