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Chapter 3

Chapter 3 - Global Dimensions.docx

5 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
umrahhoward

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1
Global Dimensions
1. Management and globalization
a. Global economy
b. Globalization
c. Global management
i. Global manager
1. Culturally aware and informed on international affairs
ii. Why companies go global
1. Increasing reliance of other economies
2. More opportunity
a. Labour
b. Capital
c. Resources
d. Buyers/suppliers
e. Growth in global financing
iii. Reasons to globalize
1. Profit
2. Customers
3. Suppliers
4. Capital
5. Labour
iv. Made possible by
1. Technology
2. Communication networks
3. Internet access
4. Growth in economies
5. Collapse of communism
6. Movement of free trade
d. How companies go global
i. Market entry strategy
2
1. Global sourcing
a. Materials purchased round the world for local use
2. Exporting/importing
3. Franchising
a. Fee is paid to foreign firm for rights to make and sell its product while
using its name, branding and methods
4. Licensing agreement
a. Local firms pays foreign firm for rights to make product
ii. Direct entry strategy
1. Joint ventures and strategic alliances
a. Foreign direct investments
i. Building, buying, buying part ownership of a business in
another country
b. Insourcing
i. Job creation via foreign direct investments
c. Joint venture
i. Operates in a foreign country through co-ownership with
foreign partner
d. Global strategic alliance
i. Partnership in which foreign domestic firms share resources
share resources and knowledge for mutual gains
2. Foreign subsidiaries
a. Greenfield developments
i. Building extensive operations in a foreign country
e. Global business environment
i. Legal and political systems
1. Political risk
2. Political risk analysis
ii. Trade agreements and trade
1. WTO
2. Favoured nation statues
3. Tariffs

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Description
1Global Dimensions 1Management and globalization aGlobal economy bGlobalization cGlobal management iGlobal manager 1Culturally aware and informed on international affairs iiWhy companies go global 1Increasing reliance of other economies 2More opportunity aLabourbCapitalcResourcesdBuyerssuppliers eGrowth in global financing iiiReasons to globalize 1Profit 2Customers 3Suppliers4Capital 5Labour ivMade possible by 1Technology2Communication networks 3Internet access 4Growth in economies 5Collapse of communism 6Movement of free trade dHow companies go global iMarket entry strategy
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