Management and Organizational Studies 2320A/B Study Guide - North American Free Trade Agreement, Association Of Southeast Asian Nations, International Monetary Fund

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Kenneth Bowlby

Document Summary

Globalization increased flow of goods, services, people, technology, capital, Global marketing information, and ideas around the world; has economic, political, social, and environmental impacts. Global markets are a result of: reduction/elimination of trade barriers, decrease of concerns of distance and time with regard to moving products/ideas, standardization of laws across borders, and a global production process. Globalization creates great interdependency among firms and divisors spread around the world. The world bank ranks countries on their globalization degree. Growth of the global economy: globalization of marketing and production. Changes in technology have been the driving force in globalization (communication) goods and services from around the globe to take advantages of national differences in cost and quality of various factors of production (labor, energy, land, and capital) Offshoring now includes knowledge economy (medical, financial, technological, and consulting services) Globalization of production (offshoring) manufactures procurements of. Wto has 153 members and controls 97% of global trade.