GMS 200 Chapter Notes - Chapter 3: North American Free Trade Agreement, World Trade Organization, Most Favoured Nation

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Franklin Gorospe

Document Summary

Global dimensions of management page 104 127. Global economy resources, markets, and compeiion are worldwide in scope. Globalizaion is the process of growing interdependence among elements of the global economy. World 3. 0 is a world where naions cooperate in the global economy while sill respecing diferent naional characters and interests. Global management involves managing operaions in more than one country. Global manager is culturally aware and informed on internaional afairs. Global business conducts commercial transacions across naional boundaries. Global sourcing materials or services are purchased around the world for local use. Exporing local products are sold abroad to foreign customers. Imporing involves the selling in domesic markets of products acquired abroad. Licensing agreement a local irm pays a fee to a foreign irm for rights to make or sell its products. Franchising a fee is paid to a foreign business for rights to locally operate using its name, branding, and methods.