GMS 200 Chapter Notes - Chapter 3: Masculinity, Geert Hofstede, World Trade Organization

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

We currently live in the age of the global economy, where resource supplies, product markets, and business competition are on a worldwide level as opposed to local or national. It is heavily influenced by the forces of globalization, the process of growing interdependence among elements of the global economy. Global management involves managing operations in more than one country: global managers are increasingly sought after now. This is someone informed about international developments, transnational in outlook, competent in working with people from different cultures, and always aware of regional developments in a changing world. A global business conducts commercial transactions across national boundaries. Market entry strategies: global sourcing, exporting and importing, licensing and franchising. There are also 2 direct investment strategies, joint ventures and foreign subsidiaries. Each of these has increased ownerships and involvement in foreign operations. In the list below it goes form least involvement to highest involvement: global sourcing.