GMS 200 Chapter Notes - Chapter 3: Ethnocentrism, Ikea, Cultural Intelligence

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

Document Summary

Chapter 3- global dimensions of management ( important: the questions from this chapter will be double than other chapters) In 1987, the first chinese kfc was opened in tiananmen square, with 15,070 square fee and 500 seats. Implemented a supplier rating system to find suppliers that perform best. Local food r&d team and a test kitchen. Kfc"s management impressively adapted its business model to better suit china recently and it"s in no danger of losing momentum. Global sourcing the process of purchasing materials or services around the world for local use. Licensing agreement one firm pays fee for rights to make or sell another company"s products (e. g. coca-cola bottlers) Franchising a fee is paid for rights to use another firm"s name and operating methods (e. g. kfc) Joint ventures operates in a foreign country through co-ownership by foreign and local partners. Foreign subsidiaries local operation completely owned by a foreign firm.