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IB 320F Globalization

by: Mrinalini Vijalapuran

IB 320F Globalization IB 320F

Mrinalini Vijalapuran
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About this Document

These notes are from the first class of IB 320F, Foundations of International Business, specifically on the topic of Globalization.
Foundations of International Business
Dr. Roberts
Class Notes
International Business, IB 320F, Globalization




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This 2 page Class Notes was uploaded by Mrinalini Vijalapuran on Sunday January 24, 2016. The Class Notes belongs to IB 320F at University of Texas at Austin taught by Dr. Roberts in Winter 2016. Since its upload, it has received 40 views. For similar materials see Foundations of International Business in International Business at University of Texas at Austin.

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Date Created: 01/24/16
IB 320F Class 1: Globalization What does Star Wars have to do with this class?  Internationalization within production. Actors are from the UK, it was filmed in London, Abu Dabi, edited both in Hollywood and London  Marketing EVERYWHERE  Merchandising  Every part of this movie has an international aspect What is Globalization?  Typical Economic Definition - Shift toward a more integrated and interdependent world economy  Wider Definition - the act or process of becoming more globally integrated or interconnected  Converse - the incremental elimination of traditional economic, geopolitical, and cultural barriers Aspects of Economic Globalization  Globalization of Markets - the merging of historically distinct and separate national markets into one huge global market  Globalization of Production (i.e. World-wide sourcing) - the sourcing of Factors of Production from locations around the globe Factors of Production  Classical view o Land (i.e. natural resources) o Labor o Capitol  Additional Factors o Enterprise  Technology  Intellectual property  Human capital (education)  Entrepreneurship  Culture Drivers of the Globalization  Declining barriers  Technological Change o Information Technology o Transportation  International organizations  Developing countries o Growth of/increase competition Agents of Globalization  States  International Governmental Organizations (IGO's o Interpol  Supranational Organizations o European Union  International Nongovernmental organizations (NGO's) o Red Cross o Green Peace o Doctors without Boarders o UNICEF  Multinational Companies (MNC's) o Referred to as "MNE's" by book Global Economic Trends  Increasing trade and FDI  Reduced trade barriers  Shift from Developed to Developing  Greater wealth and economic convergence/greater poverty and economic divergence  International Business no longer purview of large MNCs So why is Globalization important in terms of this class?  The whole point of the class!  Cant talk about international business without globalization!


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