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Chapter One: Globalization

by: Lissy Perera

Chapter One: Globalization MAN4602

Lissy Perera
GPA 3.21
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About this Document

International Business, Chapter One: Globalization, Lecture Notes
International Business
Stav Fainshmidt
Class Notes
International Business; Globalization




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This 2 page Class Notes was uploaded by Lissy Perera on Sunday January 24, 2016. The Class Notes belongs to MAN4602 at Florida International University taught by Stav Fainshmidt in Spring 2016. Since its upload, it has received 16 views. For similar materials see International Business in International Business at Florida International University.

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Date Created: 01/24/16
Chapter 1: Globalization Lecture Notes LO­1: What is Globalization? I. Globalization defined.  Globalization: the trend toward a more integrated global economic system.  Globalization of Markets (Output/ sell anywhere)  Globalization of Production (Input/ produce anywhere)  Global institutions:  Manage and regulate global marketplace  Multinational treaties  Examples:  The World Trade Organization (WTO)  International Monetary Fund (IMF)  The World Bank  The United Nations (UN) LO­ 2: Drivers of Globalization I. How did globalization become possible?  Declining trade & investment barriers (Ex. Establishment of WTO)  Technological Change  Cost, Quality, More Markets, Mobility, Connectedness (Companies can now make better quality products at a lower cost and  sell them abroad.)  LO­ 3: Changing Demographics of the Global Economy I. How have economies changed throughout the years?  1960’s  U.S. dominated world trade and economy  About half the world was off­ limits to Western business  2011  U.S accounted for 23.1% of global manufacturing output  Rapid economic growth is now occurring in countries like China,  India, and Brazil  Companies may find new markets and new competitors in the developing  regions of the world. II. Foreign Direct Investment  Stock of foreign direct investment (FDI) generated by rich industrial countries is declining.   FDI is rising, in general.   Largest FDI recipient: China III. Multinational Enterprises and the Changing World Order  Multinational Enterprises (MNE): any business that has productive activities  in two or more countries (any combination of global markets or production  The Changing World Order:  Collapse of communism in Eastern Europe yields export and  investment opportunities.  Economic development in China  Free market reforms and democracy in Latin America yields  opportunity for new markets and sources of production  A more integrated global economy yields new opportunities but also the risk  for political and economic disruptions. LO­ 4: The Globalization Debate I. The Argument for Globalization  Globalization promotes greater prosperity in the global economy, more jobs,  and lower prices for goods and services, therefore a better standard of living. II. The Argument against Globalization  Manufacturing jobs are being lost to low­ wage nations  Free­trade encourages firms to off­shore to less developed countries  Economic power is shifting away from national gov. and toward supernatural  organizations  The gap between rich and poor is increasing LO­ 5: Managing in the Global Marketplace I. Managing an International Business  Country differences require companies to vary their practices by country  More complex range of problems and competitors  Must work within limits imposed by governmental intervention and the global trading system  International transactions require conversions of funds and are subject to  exchange rates


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