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Chapter 3

Chapter 3 - Global Dimensions of Management.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Shavin Malhotra
Semester
Fall

Description
Chapter3GlobalDimensionsofManagementWe currently live in the age of the global economy where resource supplies product markets and business competition are on a worldwide level as opposed to local or nationaloIt is heavily influenced by the forces of globalization the process of growing interdependence among elements of the global economyGlobal Management involves managing operations in more than one countryoGlobal Managers are increasingly sought after now This is someone informed about international developments transnational in outlook competent in working with people from different cultures and always aware of regional developments in a changing worldWhy Companies Go GlobaloProfitsglobal operations offer greater profit potentialoCustomersnew markets to sell productsoSuppliersOffer access to needed products and services for cheaperoCapitalOffers access to financial resources ex foreign investorsoLabourAccess to lower labour costs A global business conducts commercial transactions across national boundaries Thereare 3 Market Entry strategies Global sourcing exporting and importing licensing and franchising There are also 2 direct investment strategies Joint Ventures and Foreign Subsidiaries Each of these has increased ownerships and involvement in foreign operations In the list below it goes form least involvement to highest involvementoGlobal SourcingThe first step towards international businessMaterials and services are purchased around the world for local use This saves money by taking advantage of international wage gaps by sourcing products in countries that can produce them at the lowest cost ex ChinaoExporting and Importing
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