GMS 200 Chapter Notes -Ecological Fallacy, Culture Shock, Proxemics

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GMS 200 Full Course Notes
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GMS 200 Full Course Notes
Verified Note
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Document Summary

Globalization is the process of growing interdependence/mutuality among elements of global economy. Global management: involves managing operations in more than one country. Global managers are culturally aware and informed on international affairs, working with people from different cultures, and always aware of regional developments in a changing world. Why companies go global: global businesses are the foundations of world trade, helping to move raw materials, finished products, and specialized services from one country to another in the global economy. The reasons are: profits better profit potential, customers new markets to sell products to, suppliers access to needed products and services, capital access to financial resources and lastly labour access to lower labour costs. How companies go global: global businesses conduct commercial transactions across national boundaries. Market-entry strategies involve the sale of goods or services to foreign markets without expensive investments; some of the strategies are: global sourcing, exporting & importing, and licensing & franchising.

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