Management and Organizational Studies 4410A/B Study Guide - World Economy, Walmart, Cost Leadership

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

Chapter 7: international strategy creating value in global markets. Foreign markets provide many opportunities for firms to increase their revenue base and their profitability. Trade among nations has increased dramatically by 2015 the trade across nations will exceed the trade within nations. Rise of globalization and market capitalism around the world has contributed to the economic boom in the new economy where knowledge is the key source of competitive advantage and value creation. Taxes and decades of ill-designed economic policies have kept guatemala"s masses in poverty. Marketing to the bottom of the pyramid allows multinational firms to target their goods and services to the nearly 5 billion poor people in the world who live in developing countries. Michael porter there are 4 broad attributed of nations that constitute the diamond of national advantage : factor endowments. Nation"s position in factors of production such as skilled labour or infrastructure.