GMS 200 Chapter Notes - Chapter 3: Most Favoured Nation, Foreign Direct Investment, Insourcing

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ricardo Reyes

Document Summary

New economy is characterized by worldwide interdependence of resource flow. Countries and people are interconnected in a globalized economy. Globalization process of growing interdependence among element of the global economy. Global economy- resource supplies, product markets and business competition are worldwide rather than purely local or national in scope. International management organizations with business interests in more than one country is rapidly becoming the norm. This has fueled the emergence of global managers. Global management involves managing operations in more than one country. Global managers are culturally aware and informed on international affairs. Customers new market to sell products. Market entry strategies involve the sale of goods and services to foreign markets. Global sourcing purchasing materials, manufacturing components, or business services around the world. Importing selling locally made products in foreign markets. Exporting buying foreign made products in domestic market. Licensing agreement foreign firms pay a fee for rights to make or sell another company"s products in a specified region.