ADMS 1000 Study Guide - Final Guide: Mercosur, North American Free Trade Agreement, Foreign Direct Investment

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Paulette Burgher

Document Summary

Globalization is the process involving the integration of national economies and the process of generating a single world economic system. Can be considered a process that is expanding the degree and forms of cross-border transactions. Refers to the growth in direct foreign investment in regions across the world. Reflects the shift towards economic interdependence, the process of generating one world economic system or a global economy. Positive outcomes a business would gain from entering the global market. The forces that act on all businesses to create an environment where competing successfully means competing globally. Involves hiring an external organization to conduct work in certain functions of the company (e. g. accounting, payroll, etc) while focusing on core competency: provides access to cheap labour reduces cost of production versus using domestic labour in. Canada or u. s: offshoring involves outsourcing globally. Licensing is an agreement where the licensor or exporter grants a foreign firm the right to use intellectual property.