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GMS 200 Lecture Notes - Lecture 3: Greenfield Project, Proxemics, Individualism

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School
Ryerson University
Department
Global Management Studies
Course
GMS 200
Professor
Ahmed Mawashi

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GMS 200 Full Course Notes
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GMS 200 Full Course Notes
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Document Summary

Main reason of globalization: comparative advantage. Is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low cost raw material and other economic factors like tax breaks and low trade tariffs. Reasons for global sourcing: cost, quality, availability. Global sourcing challenges: language differences, cultural differences, standards and regulations, fluctuation of currency, shipping procedures, time zones (time differences) How can you sell your products overseas. (video) Key concepts in the challenges of globalization: global economy, globalization. Reasons why businesses go global: profits, customers, suppliers, capital, labour. Importing: buying foreign- made products and selling them domestically. One firm pays fee for rights to make or sell another company"s products.

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Related Questions

Select the statement that best substantiates why we say, "The role of management is changing."
 
a) Future managers must have their ear and eye toward domestic issues because the goal is to bring jobs back to the U.S. by eliminating outsourcing.
 
b) Managers will evolve toward measuring and evaluating individual employee performance and eliminate employees who prefer not to work independently.
 
c) Contemporary managers will focus on global issues and green issues, and continue to emphasize the team approach to work.
 
d) Contemporary managers will emphasize structure and less creative thinking, particularly during recessionary times.
 
 
Which of the following factors help determine a manager's span of control? 
 
A)the number of global competitors
B)the level of standardization of the work to be done
C)method of accounting for production
D)form of business ownership

4. Which of the following is a capability likely to be provided by an applicant tracking system? a) Multilingual support for global locations b) Generating applicant confirmation letters c) Pre-screening applications and résumés for education, specific competencies, and experience d) All of the above e) Only a) and b)