BU352 Chapter Notes - Chapter 16: Franchising, Global Entry, International Monetary Fund
Document Summary
Globalization: refers to the increased flow of goods, services, people, technology, capital, information and ideas around the world; has economic, political, social, cultural and environmental impacts. Result of fundamental changes (reduction of trade barriers, decreasing concerns with moving products and ideas across countries, standardizations of laws across borders, globally integrated production processes) Globalization of production (offshoring): manufacturers" procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of various factors of production (labour, energy, land, capital) International monetary fund (imf): established as part of the original gatt; primary purpose is to promote international monetary cooperation and facilitate the expansion and growth of international trade. World bank group: a development bank that provides loans, policy advice, technical assistance, and knowledge sharing services to low and middle income countries in an attempt to reduce poverty. Assessing global markets- 4 sets of factors are used to assess a country"s market:
