Business Administration 3301K Lecture Notes - Lecture 18: Offshoring, General Agreement On Tariffs And Trade, World Trade Organization
17 Oct 2015
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Document Summary
The economies of the world are interconnected and interdependent and thus competition is global, the marketplace is global, and that to be successful, firms must look beyond their borders for opportunities to grow and expand. Canadian companies have to compete with other global companies not only for way materials, labour knowledge and other inputs, but also for markets for their products. Globalization: refers to the increased flow of goods, services, people, technology, capital, info, and ideas around the world; has political, social, cultural, and environmental impacts. Globalization has not only created economies of scale, but also made it possible for many market niches that are not profitable at the provincial or national level to become profitable at the global level. The world bank ranks countries according to their degrees of globalization on the basis of a composite measure that examines whether the factors necessary to participate in the global marketplace are present.
