MGMT 3P98 Chapter Notes - Chapter 1: Containerization, Foreign Direct Investment, General Agreement On Tariffs And Trade

• School: Brock University
• Department: Business - Management
• Course: MGMT 3P98
• Professor: Tansu Barker

Document Summary

National economies are merging together into an interdependent global economic system, a process called globalization. Daily volumes in forgein exchange markets averaged about 5 trillion dollars. Best time for businesses despite the economic slowdown, increase in revenue through worldwide sales and reduce cost through cheaper labour in different countries. After communisum ended in 1980"s, free markets became the new thing. Merging distinct and separate national markets into one global marketplace. Companies like apple creating a standardize products to facillate a global marketplace. Differences different marketing strategies, operating policies, and product features to best match the conditions of the new country the company is about to enter into. Global markets is not for the consumers products, but for industrial goods and services. Consistency across the markets: globalization of production. Sourcing goods and services from around the world to take advantage of national differences in the cost of production. Still informal, formal barriers to trading between certain countries.