GMS 200 Chapter 3: GMS CHAPTER THREE
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GMS 200 Full Course Notes
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Global economy resources, markets, and compeiion are worldwide in scope. Globalizaion process of growing interdependence among elements of the global economy. World 3. 0 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. Figure 3. 3 common forms of internaional business --- from market entry to direct investment strategies. 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.