GMS 200 Lecture Notes - Lecture 4: North American Free Trade Agreement, Ethnocentrism, Protectionism

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

Document Summary

Gms 200: ch. 3 global dimensions of management total 900 words, diagrams, essay (creative assignment) 12, double space, cover page, name and student number pg 495. =resource supplies, product markets and business competition are worldwide, rather than local. =the process of growing interdependence of these components in the global economy. Global sourcing: the practice of sourcing from the global market for goods and services across geopolitical boundaries. Franchising: is the practice of using another firm"s successful business model. Foreign direct investment: direct investment into production or business in a country by an individual or company of another country, either by. Buying a company in the target country or. By expanding operations of an existing business in that country. Insourcing:having people within the company do jobs that would normally be done by contractors. Joint ventures: operates in a foreign country through co-ownership by foreign and local partners. Global strategic alliances: foreign and domestic firms share resources and knowledge.