PSY 351 Chapter Notes - Chapter 1: Equity Sharing, Trade Bloc, Mercosur
Document Summary
Globalization - global strategy of the integration of worldwide operations and the development of standardized products and marketing approaches. Global competition characterized by networks of international linkages comprising economic, financial, political, and social markets that in turn bind countries, institutions, and people in an interdependent global economy. The linkages have resulted in the free movement of goods, people, money and information across borders. Economic integration - results form the lessening of trade barriers and the increased flow of goods and services, capital, labor, and technology around the world. De-globalization - retreat, or inversion, resulting from political crises, cyber theft, protectionism, and increasing trade barriers which in turn have resulted from the global trade slowdown. 5 key global trends that provide both challenges and opportunities for companies to incorporate into their strategic planning: Changing balance of growth toward emerging markets compared with developed ones, along with the growing number of middle- class consumers in those areas.
