MGT491H5 Midterm: Midterm Study Notes - Chapter 1-Globalization

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12 Oct 2010
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N globalization the shift toward a more integrated and interdependent world economy. There are several facets, including globalization of markets and globalization of production. N globalization of markets the merging of historically distinct and separate national markets into one huge global marketplace. N falling barriers to cross-border trade make it easier to sell internationally. N tastes and preferences of consumers in different nations are beginning to converge into a global norm, helping to create a global market: ex. Coca-cola, sony playstation, ikea, starbucks, macdonalds: these firms are also facilitators of this trend, by offering the same product worldwide they help to create a global market. In the us, 90% of firms that export are small businesses employing less than 100 people. N 072,389047/8,70890547907 98% of its small and mid-sized companies have exposure to international markets (via either exports or international production)

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