Week 2 Notes on Globalization and Internationalization
Week 2 Notes on Globalization and Internationalization MGT 340
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This 1 page Class Notes was uploaded by Delphie Notetaker on Thursday September 24, 2015. The Class Notes belongs to MGT 340 at Pace University taught by Chowdhury in Summer 2015. Since its upload, it has received 41 views. For similar materials see International Management in Business, management at Pace University.
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Date Created: 09/24/15
International Management MGT 340 Week 1 Notes Globalization I What is Globalization It is the process of interaction between a variety of people that are generally driven by international trade and information technology Examples of Globalization a The opening ofborders b An increase in ows specifically people information money or goals rhg39DQO The integration of companies countries and governments Outsourcing costsaving strategy Global brands such as McDonald s Coca Cola Financial standards in the US have turned global such as GAAP Generally Accepted Accounting Principles detailed standards and rules issued by the Financial Accounting Standards Board FASB IFRS International Financial Reporting Standards set of accounting standards set by the IASB International Accounting Standards Board 11 What are the positives and negatives of Globalization POSITIVES NEGATIVES New markets or opportunities Loss of traditional industries New employment opportunities The authenticity of language is taken away More access to natural I39CSOUI CCS Loss of traditional forms of entertainment Increases attention to negative behavior and human rights Employees lose high paid jobs then turn to other employment opportunities that offer low wages Mixing cultures innovative ways of thinking Increase in inequality rich getting richer International organizations maintaining serenity and dialogue The potential of con ict increases An increase in choices for consumers Terrorism Decrease in prices Environmental issues causing waste production in the US