MKT 400 Lecture Notes - Foreign Direct Investment, North American Free Trade Agreement, Franchising
26 Feb 2013
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Document Summary
Global economy: resources, markets, and competition are worldwide in scope. Globalization: is the process of growing independence among elements of the global economy. Global management: involves managing operations in more than one country. Global manager: is culturally aware and informed on international affairs. Global sourcing: the process of purchasing materials, manufacturing compoenents, or business services from around the world. The goal is to take advantage of the international wage gaps by sourcing products in countries that can produce them at the lowest costs. Exporting: selling locally made products in foreign markets. The goal for exporting is to find new customers and expanded markets by selling one"s products and services in other countries. Note: exporting creates job opportunities and government often helps promote such activities. President of richard industries doubled export sales in 10 years and expects india and china to account for 1/3 of firms revenue. Importing: buying forieng made products and selling them in domestic markets.
