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Chapter 3 Business 150

by: Jessica D'Aniello

Chapter 3 Business 150 Bus 150

Marketplace > Pace University > Business > Bus 150 > Chapter 3 Business 150
Jessica D'Aniello
Contemporary Business Practice

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Chapter 3
Contemporary Business Practice
Class Notes
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This 5 page Class Notes was uploaded by Jessica D'Aniello on Tuesday September 29, 2015. The Class Notes belongs to Bus 150 at Pace University taught by Malki in Fall 2015. Since its upload, it has received 46 views. For similar materials see Contemporary Business Practice in Business at Pace University.


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Date Created: 09/29/15
Business Chapter 3 If the Federal Reserve decides to raise interest rate would that help speed up or would it lower the growth rate of GDP Why is a slow down in economy in china a scary thing for the stock market We the US have imports and stock in china Mergers Acquisitions ConcMann TH E GLOBAL MARKET the increasing tendency of the world to act as one market Increasing integration and interdependence of national economics around the world dependence between 2 or more people or groups companies to purchase goods or services from and outside supplier Has been an issue we have to train our workforce to work better World s most competitive countries 1 Switzerland 2 Singapore 3 Finland 4 United states 5 Sweden 6 Hong Kong 7 Germany 8 Netherlands 9 Japan 10 United kingdom What makes countries more competitive It s about social structure investment in infrastructure education that should be free and a right corporation between management and labor interdependence etc Why do Nations Trade Focusing on relative strengths Expanding markets Pursuing economics of scale Acquiring materials goods and services Keeping up with customers Keeping up with competitors Cost of production PER UNIT all expenses divided by the number of units produced How international Trade is measured total value of the production nation exports minus the total value of the products it imports calculated over a period of time a favorable trade balance created when a country exports more than it imports Having a trade surplus is always essential for an economy False an unfavorable trade balance is created when a country imports more than it exports Another way of balancing trade Balance of payments the sun of all payments a country receives from other countries minus the sum of all payments it makes to the other countries over some speci es period of time MIDTERM QUESTION What is the difference between the balance of trade and the balance of payment And which one is a cash ow idea rather than an income statement idea Foreign Exchange rates and currency valuations the rate at which the money of one country is trades for the money of another Would we export more or export less if the dollar was stronger Less If the dollar is high and therefore our imports are cheaper does this cause more or less in ation LESS INFLATION Strong and Weak Currencies Who Gains Who Loses MIDTERM QUESTION who gains who loses If the dollar is strong what are some consequences Globalizationtradehow we measure tradeexchange rate exports and imports with in ation Free trade International trade unencumbered by restrictive measures Supporters of free trade generally acknowledge that it produces winners and losers but the winners gain more than the losers lose so the net effect is positive Trade unions are suspicious of free trade because they want to have as many jobs for their members North American Free Trade Agreement Government intervention in international trade government policies aimed at shielding a country s industries from foreign competition Taxes levied on imports Limits placed on the quantity of imports a nation will allow for a speci es product a total ban on trade with a particular nation a sanction or of a particular product a form of nancial assistance in which producers receive enough money from the government to allow them to lower their prices in order to complete more effectively in the global market charging less than the actual cost or less than the homecountry price for goods sold in other countries permanent forum for motivating implementing and monitoring international trade procedures and for mediating trade disputes among the 150 member countries Question on midterm will be to de ne WTO The IMF was formed to monitor global nancial developments provide technical advice and training provide shortterm loans to countries that are unable to meet their nancial obligations and work to alleviate poverty in developing economies Will have a question on midterm Founded to nance reconstruction after World War 2 and is now involved in hundreds of projects around the world aimed Organizations of nations that remove trade barriers among their member countries and establish uniform barriers to trade with nonmember nations NAFTA and EU are both trading blocs what s the difference between them They have different currency READ ABOUT IT The Global Business Environment a shared system of symbols beliefs attitudes values expectations and norms for behavior judging all other groups according to the standards behaviors and customs of ones own group We have an idea of personal space that should not be violated other countries don t have that Every country is different Read about licensing Multinational corporations Multidomesctic strategy Transnational strategy Global strategy


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