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Globalization and International Linkages

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Globalization and International Linkages
Globalization and International Linkages
The specific objectives of this chapter are to 1. ASSESS the implications of globalization for countries, industries, firms, and communities. 2. REVIEW the major trends in global and regional integration. 3. EXAMINE the changing balance of global economic power and trade and investment flows among countries. 4. ANALYZE the major economic systems and recent developments among countries that reflect those systems.
International Management
International management involves
Applying management concepts and techniques in a multinational environment and
Adapting management practices to different economic, political, and cultural environments.
Multinational corporation (MNC)
Operations in more than one country
International sales
Nationality mix of managers and owners The World’s Top Nonfinancial MNCs Ranked by Foreign Assets, 2007 The World’s Top Nonfinancial MNCs from Developing Countries Ranked by Foreign Assets, 2007
Globalization and Internationalization
Globalization
Process of social, political, economic, cultural, and technological integration among countries around the world.
Hastened by
Offshoring
Process by which companies undertake some activities at offshore locations instead of their countries of origin.
Outsourcing
Subcontracting or contracting out of activities to external organizations that had previously been performed by the firm.
Map of the World

Globalization: Pros and Cons
Benefits of Globalization
Wealth
Jobs
Technology
Lower prices

Criticisms of Globalization off-shoring of business service jobs to lower-wage countries growing trade deficits slow wage growth environmental and social impacts Global and Regional Integration
Global Agreements
World Trade Organization (WTO)
General Agreement on Tariffs and Trade (GATT)

Regional Agreements
North American Free Trade Agreement
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