GMS 200 Chapter Notes - Chapter 3: Culture Shock, Small Victories, Organizational Learning

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Masoomeh Moharrer

Document Summary

Resource supplies, product markets, business competition are worldwide, rather than local. Process of growing interdependence of these components in the global economy. Management in orgs w/ business interests in more than one country. Global manager culturally aware and informed on international affairs. Aware of regional developments in changing world. Customers new markets to sell products. Global businesses conduct for profit transactions national boundaries. Involve sale of goods/serv to foreign markets but don"t require expensive investments. Global sourcing process of purchasing materials/serv around world for local use. Exporting selling locally made products in foreign markets. Importing buying foreign-made prods and selling them domestically. Licensing agreement one firm pays fee for rights to make/sell another company"s prods. Franchising a fee paid for rights to use another firm"s name/operating methods. Building, buying all/part ownership of a business in another country (insourcing job creating through foreign direct investment) Joint ventures operates in a foreign country through co-ownership by foreign & local partners.