GMS 200 Lecture Notes - Lecture 1: Southern African Development Community, North American Free Trade Agreement, Foreign Direct Investment

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

Document Summary

This section covers what management challenges are going global. Global economy: resources, markets, and competition are worldwide in scope. Globalization: the process of growing interdependence among elements of the global economy. World 3. 0: a world where nations cooperate in the global economy while still respecting different national characters and interests. Global management: involves managing operations in more than one country. Global manager: someone who is informed about international developments, transitional in outlook, competent in working with people from different cultures, and always aware of regional developments in a changing world. Pro ts - global operations offer greater pro t potential. Customers - global operations offer new markets to sell products. Suppliers - global operations offer access to needed products and services. Capital - global operations offer access to nancial resources. Labour - global operations offer access to lower labour costs. Global business: conducts commercial transactions across national boundaries.