BSB119 Study Guide - Final Guide: Portfolio Investment, Total Quality Management, Forward Rate
Document Summary
*globalisation: shift towards a more integrated and interdependent world economy. International business: any business that has productive activities in two or more countries (multinational enterprise - mne). *globalisation of markets: merging of historically distinct and separate national markets into a global marketplace in which the tastes and preferences of consumers in different nations are beginning to converge. However, significant differences in culture, politics and economies exist between countries and adaption of products and strategies to local conditions is often necessary for international business to succeed. Example: boeing aircrafts use companies s for all over the world for different components (e. g uk, france, canada, sweden) Firms are better able to respond to international customer demand due to improvements in transportation technology e. g jet transport; temperature controlled containerized shipping and co-ordinated ship-rail truck systems. *globalisation of institutions: institutions are needed to help manage, regulate and police the global marketplace and promote the establishment of multinational treaties to govern the global business system.
