GMS 723 Study Guide - Midterm Guide: Outsourcing, Political Philosophy, Consumerism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 723
• Professor: Ricardo Reyes

Document Summary

Market standardization: standard marketing approach that can be used internationally. Being able to use it across different cultures and countries. Cross border integration: first this process refers to the existence of interactions between territories and is based on ow analysis and barrier effects. Second this process refers to the convergence of territorial characteristics and is based on analysis of homogeneity. Globalization: refers to the sourcing of goods and services, from locations around the world to take advantage of national differences, costs, quality of factors of production. Globalization refers to the shift toward a more integrated interdependent world economy. Consumerism: the protection of the consumer against useless, inferior, or dangerous products. Nationalization: a governments takeover of a private business. Melding of markets: when markets come together and combine. Integration of markets: occurs when prices among different locations or related goods follow similar patterns over a long period of time.