Management MGT 3303 Chapter Notes - Chapter 1: Global Sourcing, Ingroups And Outgroups, Kfc

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Global village - a boundaryless world where goods and services are produced and marketed worldwide. The reality and challenge of today"s global environment is that your product, your competition, and even your workforce can be found anywhere and at any time. Although the world is still a global village, how managers do business in that global village is changing. To be effective in this boundaryless world, managers need to adapt to this changed environment, as well as continue to foster an understanding of cultures, systems, and techniques that are different from their own. And what"s more, even if you don"t ever anticipate working internationally, you need to learn all you can about globalization so you can recognize opportunities and threats that have the potential to impact your career. What does it mean to be "global": exchanging goods and services with consumers in other countries, using managerial and employee talent from other countries, using financial sources and resources outside home country.

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