AFM131 Chapter Notes - Chapter Chapter 3: Quality Control, Lululemon Athletica, Protectionism

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Manhhung David Nguyen Ha

Document Summary

Chapter 3/module 01 - competing in global markets (prep for quiz 1) ** green = things that may appear on a quiz/exam ** Summary: canada has a pop. of more than 35m people and the world market trade is huge. Consumer - increased access/connectivity and leads to more options. Employee - interacts w/ customers, clients, business partners in different parts of the world. Business owner - global competition drives innovation/increased access to resources allows businesses to focus on what they do best. More competition - more innovation/increased options for consumers. Access to additional expertise - cheaper resources/suppliers, allows for focus on what the business does best, potential loss of jobs. Consumer perspective: limited selection, lack of deals , expectations were unmet. Business perspective: underestimated complexity of market and led to high prices/inventory management issues. Over 90% of companies doing business globally believe it"s important for their employees to have experience working in different countries.