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Business of Design - Week 3

by: Anastasia Penn

Business of Design - Week 3 DSN 143

Marketplace > Radford University > DSN 143 > Business of Design Week 3
Anastasia Penn
GPA 3.2

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About this Document

These notes speak on Global Trade and Business Organization
Business of Design
Dr. Robinson
Class Notes
business, Design
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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.


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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)


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