ADMS 3960 Chapter : ADMS 3960 International Business Textbook Notes
22 Nov 2012
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Document Summary
Globalization- the integration of world economies through the elimination of barriers to movements of goods, services, capital, technology and people. Globalization enables us to get more variety, better quality, lower prices. Ib- all commercial transactions that take place between 2+ countries. Goal of private business is to make profits. Government business may or may not be motivated by profit. Managers need to consider where to obtain the inputs needed of the required quality at the best price. Companies operating internationally have more diverse and complex operating environments than those at home due to cultures and values. And also where they can best sell the product. Personal contact int"l travel/ tourism, int"l telephone traffic, personal transfers of funds abroad. Political participation in int"l orgs and gov monetary transfers. Import restrictions have been decreasing, and output from foreign-owned investments as a percentage of world production has increased. World trade has grown more rapidly than world production.
