GMS 522 Chapter Notes - Chapter 1-5: Special Drawing Rights, Ad Valorem Tax, Monopolistic Competition

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: John Currie

Document Summary

Chapter 1 economies of scale economies of scope foreign direct investment. A production condition where an increase in the quantity of the product results in a decrease of the production cost per unit. The reduction in cost per unit as the firm spreads its total costs (production, marketing, and r & d) over a larger number of brands, product lines, or target markets. Capital funds that flow from abroad; company is held by non-citizens; foreign ownership is typically undertaken for longer-term participation in an economic activity. global marketing the planning, coordination, and integration of marketing activities across multiple country markets. globalization. The increased integration of the world"s economies. glocal marketing a strategic orientation that reflects the need for balance between global marketing, with its focus on standardization, and local marketing, with its focus on adaptation to country differences. international marketing.