GMS 200 Chapter Notes - Chapter 3: Market Entry Strategy, Joint Venture, Pizza Hut

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

Document Summary

Chapter 3 part 1 global dimension of management. A global economy is a worldwide network of interdependent countries that share resource supplies, product markets and a competitive business environment. Globalization is the process of growing interdependence among the components of the global economy. Creating a borderless world where economic integration becomes so extreme that nations states hardly matter anymore. Involves managing operation in more than one country. Success of firms depends on ability to attract and hire truly global managers who have strong global perspectives, are culturally aware and always stay informed about international developments. Global businesses are the foundations of world trade, helping to move raw materials, finished products and specialize services from one country to another in the global economy. Why companies go global: profits greater profit potential, customers new markets to sell products, suppliers access to needed products and services, capital access to financial resources, labour access to lower labour costs.