Business of Design - Week 3
Business of Design - Week 3 DSN 143
Popular in Business of Design
Popular in Department
This 5 page Class Notes was uploaded by Anastasia Penn on Thursday February 4, 2016. The Class Notes belongs to DSN 143 at Radford University taught by Dr. Robinson in Spring 2016. Since its upload, it has received 8 views.
Reviews for Business of Design - Week 3
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 02/04/16
Global Trade Trade balance: difference between exports and imports ($ amount) Balance = Exports – Imports Trade surplus: Exports > Imports (positive) Trade deficit: Imports > Exports (negative) U.S Trade 2015 Partners: 1. China 2. Canada 3. Mexico 4. Japan 5. Germany Government o Protectionism: protect domestic industry from import competition o Cheap labor = Cheaper goods (cost less than domestic goods) 1. Quotas: set amount of merchandise that can be imported 2. Duty: Tax on imported goods a. “tariff” b. A percent of value c. Raises cost of imports so domestic good cost less in comparison Trade Pacts “trade agreements”: How we trade with other countries Break down traditional barriers Allows free access to goods and services Trade Organizations: 1. GATT (General Agreement on Tariffs and Trade) a. 1947 – 1994 b. Trading rules between U.S and other countries c. Lower tariffs 2. WTO (World Trade Organization) a. Replaced GATT b. Ensures fair global trade c. 162 country members Trade Agreements 1. NAFTA (North American Free Trade Agreement) a. U.S, Canada, and Mexico eliminated quotas and tariffs 2. CAFTA (Central American Free Trade Agreement) a. 7 countries 3. CBI 4. ASEAN (Association of South East Asian Nations) Global Economies Defined by GDP (gross domestic product) Indicator of wealth – in dollar amount Value of output produced Global Company “multinational”: has operations in several countries 1. WalMart 2. Sinopec Group 3. Royal Dutch Shell 4. China National Petroleum 5. Exxon Mobile Global Retailers 1. WalMart 2. Costco 3. Kroger Globalization and Marketing Understanding world cultures and economies (essential tools) Globalization: combines global branding and localized marketing Business Organization Organizational Structure How people and jobs are arranged o Performance o Goals met Types of Structure Informal – small company or business Formal – larger companies or businesses o More procedures and responsibilities Depends on: o Work o Number of employees o Geographic location o Budget Developing an Organizational Structure 1. Divide jobs into specific 2. Group jobs together (departmentalization) → functional (by job) a. How many jobs → geographic b. How many people → product line 3. Distribution of authority → customer → combined Mazur Plan, 1927 (variations) Merchandising/Product development Financial control Business operations Human resources Promotion and marketing Things to Consider: Competitors (products, price, structure) Industry (organizational information) Goals (short and long term)
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'