GMS 520 Chapter Notes - Chapter 1: Consumerism, Citigroup, Mercosur

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In class worksheet: attitudes towards globalization, trends in nationalism and protectionism. The global business environment: societal obligation, politics, cultural differences, global competition, terrorism, and technology are main challenges, top two risks for management are income inequality and fiscal imbalances. Development of an increasingly integrated global economy make especially by free trade, the free flow of capital and cheap foreign labour markets. Invisible hand is electronically flattening the world, but doing so unevenly. Information technology, is making those networks of international linkages possible by boosting the efficiency of connectedness. The internet is propelling electronic commerce around the world. Companies around the world are linked electronically with employees, customers, distributors, suppliers, and alliance partners in many countries making the world a global marketplace. The explosive growth of information technology is both a cause and an effect of globalism. Has introduced new efficiencies: global meeting place, eliminates suppliers/intermediaries, gives power of choice and price to consumers.

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