BUS 201 Chapter Notes - Chapter 5: Asia-Pacific, Comparative Advantage, Protectionism

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

Major world marketplaces: geographic clusters, north america. Split between eastern and western: pacific asia. Japan, china, thailand, malaysia, singapore, indonesia, south korea, International competitiveness refers to the ability of a country to generate more wealth than its competitors in world markets. Exchange rates: exchange rate is the rate at which currency of one nation can be exchanged for another, exchange rates and competition. Going international : gauging international demand, adapting to customer needs. International firms: conducts a significant portion of its business abroad, primary focus remains on their domestic market, multinational firms, planning and decision making are geared towards global markets. Independent agent: a foreign individual or organization that agrees to represent an exporter"s interests in foreign markets. Licensing arrangements: give individuals or companies in a foreign country the exclusive right to manufacture or market their product in that area, royalties.