GMS 200 Lecture Notes - Lecture 3: Greenfield Project, Global Sourcing, Insourcing

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

Document Summary

Process of growing interdependence of components in the global economy. Management in organizations with business interests in more than one country. Informed about international developments: up to date with economies. Transnational in outlook: looking at operations globally. Aware of regional developments in a changing world. Conduct for-profit transactions of goods and services across national boundaries. Market entry strategies: involve the sale of goods or services to foreign markets but do not require expensive investments. Figure 3. 3 common forms of global business from market entry to direct investment strategies. Global sourcing: the process of purchasing materials or services around the world for local use. Exporting: selling locally made products in foreign markets. Importing: buying foreign-made products and selling them domestically. Licensing agreement: o(cid:374)e fir(cid:373) pays fee for rights to (cid:373)ake or sell a(cid:374)other (cid:272)o(cid:373)pa(cid:374)y"s produ(cid:272)ts. Franchising: a fee is paid for rights to use a(cid:374)other fir(cid:373)"s (cid:374)a(cid:373)e a(cid:374)d operati(cid:374)g (cid:373)ethods.