Managing in a Global Business Environment- D080

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Managing in a Global Business Environment- D080 globalization ✔✔worldwide interconnections in virtually every sphere of activity including the spread of products, technology, info, and job oppo... rtunities 4 fundamental aspects of globalization ✔✔-trade and transactions -capital and investment movements -migration and movement of people -dissemination of knowledge outsource ✔✔to obtain goods or services from an outside or foreign supplier cultural globalization ✔✔the transmission of ideas, meanings, and values around the world in a way that extends/intensifies social relations 3 major areas of globalization ✔✔-economic -cultural -political economic globalization ✔✔the widespread, International movement of goods, capital, services, technology, and info NGOs (non-governmental organizations) ✔✔not for profit organizations that are independent of the government and are active in humanitarian causes 5 stages of going global ✔✔1. Market entry 2. Product specialization 3. Value chain disaggregation 4. Value chain reengineering 5. Creation of new markets foreign direct investment ✔✔when a firm invests assets directly into a foreign country's buildings, equipment, or organizations opportunities for scale ✔✔cost advantages due to an increase in the amount of output and a decrease in the cost per unit 4 industry globalization drivers ✔✔-market -cost -competition -government CAGE analysis ✔✔cultural, administrative, geographic, economic free trade zone ✔✔a geographic region that a country has opted to reduce barriers to trade with subsidies ✔✔when a government gives a tax break to a producer to increase their global competitiveness types of economy ✔✔-industrialized -less developed -developing planned economy ✔✔government controls factors of production free market ✔✔individuals own factors of production traditional economy ✔✔An economy in which production is based on customs and traditions and economic roles are typically passed down from one generation to the next command economy ✔✔economic effort is devoted to goals passes down from a ruler or a ruling class market economy ✔✔leaders mak [Show More]

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