GMS 200 Lecture Notes - Lecture 3: Economic Community Of West African States, Southern African Development Community, Canada Border Services Agency

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

Document Summary

Key concepts in the challenges of globalization: global economy, globalization, international. Europe- european union (eu) 28 countries management, global manager. Euro zone- countries solely using euro as legal tender. Schengen- 26 countries. need only one visa for all. Dumping- selling your product cheaper in the foreign market than the domestic. Africa- sadc ( southern african development community) 15 countries. Ecowas (economic community of west african states) 15 countries (10 francophone and 5 anglophone) Eac(east african community)- 5 countries, wants to join schengen. Reasons for engaging in international business: pro ts, customers, suppliers, capital, labour. Market entry strategies involve the sale of goods or services to foreign markets but do not require expensive investments. Direct investment strategies: require major capital commitments but create rights of ownership and control over foreign operations. Types of direct investment strategies: joint ventures, foreign subsidiaries. Strong local market for partner"s own products. Environment is complex, dynamic, and highly competitive.