GMS 200 Chapter Notes - Chapter 3: Most Favoured Nation, Franchising, Insourcing

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Lori Anne Heckbert

Document Summary

Global economy resources, markets, and competition are worldwide in scope. Globalization is the process of growing interdependence among elements of the global economy. World 3. 0 a world where nations cooperate in the global economy while still respecting different national characters and interests. Global management involves managing operations in more than one country. Global manager culturally aware and informed on international affairs. Profits global operations offer greater profit potential. Customers global operations offer new markets to sell products. Suppliers global operations access to needed products and services. Capital global operations offer access to financial resources. Labor global operations offer access to lower labor costs. Global business conducts commercial transactions across national boundaries. Global sourcing - materials or services are purchased around the world for local use. Exporting local products are sold abroad to foreign customers. Importing involves the selling in domestic markets of products acquired abroad.