Midterm Guide MNGT 350
Chapter 1
Goods & Services
As people, firms, and other organizations have expanded their access to resources, goods, services, and markets across wider geographical areas, they have also become more deeply affected (positively and negatively) by conditions outside their home countries. Globalization refers to the broadening set of interdependent relationships among people from different parts of a world that happens to be divided into nations.
International business involves all commercial transactions, including sales, investments, and transportation—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment.
Influences on Consumers to use foreign-made products
Because of innovations in transportation and communications technology, consumers are well-informed about and often able to access foreign products. Thus competitors the world over have been forced to respond to consumers’ demand for increasingly higher quality and more cost-competitive offerings.
The first view, that further globalization is inevitable, is based largely upon the premise that technical advances in transportation and communications are pervasive, that consumers demand the best products for the best prices regardless of their country of origin.
Conflict of global v Country’s interests
In addition, recent anti-globalization interests have successfully promoted a variety of causes in numerous countries that span the globe. The impact of other uncertainties also impacts the future of globalization. Some examples of these uncertainties include the impact of oil prices on global transportation, the general economic recession and concerns about product safety. Whether institutions and people can work together to effectively manage the complexities of today’s interconnected world remains to be seen.
Goods & Services
As people, firms, and other organizations have expanded their access to resources, goods, services, and markets across wider geographical areas, they have also become more deeply affected (positively and negatively) by conditions outside their home countries. Globalization refers to the broadening set of interdependent relationships among people from different parts of a world that happens to be divided into nations.
International business involves all commercial transactions, including sales, investments, and transportation—private and governmental—between parties of two or more countries. Global events and competition affect almost all firms—large or small. However, the international environment is more complex and diverse than a firm’s domestic environment.
Influences on Consumers to use foreign-made products
Because of innovations in transportation and communications technology, consumers are well-informed about and often able to access foreign products. Thus competitors the world over have been forced to respond to consumers’ demand for increasingly higher quality and more cost-competitive offerings.
The first view, that further globalization is inevitable, is based largely upon the premise that technical advances in transportation and communications are pervasive, that consumers demand the best products for the best prices regardless of their country of origin.
Conflict of global v Country’s interests
In addition, recent anti-globalization interests have successfully promoted a variety of causes in numerous countries that span the globe. The impact of other uncertainties also impacts the future of globalization. Some examples of these uncertainties include the impact of oil prices on global transportation, the general economic recession and concerns about product safety. Whether institutions and people can work together to effectively manage the complexities of today’s interconnected world remains to be seen.