BA 3301 Lecture Notes - Lecture 80: Root Mean Square, Emerging Markets, General Agreement On Tariffs And Trade
Document Summary
Many historically dis/nct and separate na/onal markets are merging into one huge global marketplace. Implica/ons: tastes and preferences of consumers in di;erent na/ons are beginning to converge, today"s >rm operates in an environment that o;ers more opportuni/es, but is also more complex and compe//ve than that faced a genera/on ago. To take advantage of na/onal di;erences in the cost and quality of factors of produc/on: firms can this compete more e;ec/vely and egciently against their rivals. Implica/ons: improvement in transporta/on technology including het transport, temperature controlled containerized shipping and coordinated ship rail truck systems have made >rms beier able to respond to interna/onal customer demands. Liberalisa/on - reduc/on in the barriers to trade and foreign investment (coopera/on among na/ons: gatt, wto and regional trade agreements) Poli/cal environment changing ideologies, priva/sa/on and the emerging market economies. Rising disposable incomes economic development and demand for greater variety of products. Technological change transporta/on, communica/on, informa/on processing and the internet.
