Bee Cheng Hiang

Topics: Free trade area, International trade, Southeast Asia Pages: 2 (387 words) Published: February 14, 2013
Bee Cheng Hiang

Lower Trade Barriers
Integrated economic markets
Changing World Output and World Trade Picture
Technological Innovations
Changing demographics

Management across cultures
Culture refers to the values and expectations of a group of people.* It is important for managers to ascertain the culture of the host country and adapt the organization. One way to manage the organisation in one country may not be appropriate in another. When managing the operations in a particular subsidiary an approach needs to be developed in line with cultural values to ensure greater cooperation and participation of employees as well as ease of dealings with local firms and national institutions. *Gooderham & Nordhaug (2003, p. 131).

Globalisation of production
The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labor, energy, land, and capital). By doing this, companies hope to lower their overall cost structure or improve the quality or functionality of their product offering, thereby allowing them to compete more effectively. (Hill, 2011)

Global Consumer Preferences
Consumer tastes and preferences are converging, even though some national differences persist. Part of the reason for the development of worldwide tastes and preferences is the presence of the mass media, exposure to goods from various countries, and marketing strategies of multinational firms that tend to offer standardized products worldwide, because doing so costs less than customizing goods to local conditions. Luis R. Gomez-Mejia. Management. P.41

Integrated economic markets
The objective of economic integration is to reduce or eliminate barriers to the free flow of goods, services, labor, capital, and other inputs of production between member nations. Two major regional economic groups are present in Asia. The oldest is the...
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