GMS 200 Lecture 3: GMS 200 Week 3

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Global economy resource supplies, product markets, and business competition are worldwide, rather than local. Globalization the process of growing interdependence of these components in the global economy. Black swan large scale in the unpredictable irregular events. We are living in a manmade complex that tend to develop cascade chains of reaction that decrease or completely eliminate predictability and cause of large events (n. taleb) Global management management in organizations with business interests in more than one country. In multicultural environment, with different sets of experience is very difficult thus the communication needs to be in low context: rebuild yourself at work which can help bring people together. Aware of regional developments in a changing world. Global business conduct for-profit business trans incomplete slide. Strong local market for partner"s own products. Political risk: potential loss in value of a foreign investment due to instability and changes in host country. Local legal systems: complex and unfamiliar laws can create problems.