ADM 1300 Chapter Notes - Chapter 3: Foreign Corrupt Practices Act, Fallacy, Global Sourcing

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: David Delcorde

Document Summary

We live in an age of global economy: global economy - resources, markets, and competition are worldwide in scope. We also live in a time where globalization is a big influence: globalization - it"s the pro(cid:272)ess of gro(cid:449)i(cid:374)g i(cid:374)terdepe(cid:374)de(cid:374)(cid:272)e a(cid:373)o(cid:374)g ele(cid:373)e(cid:374)ts of the glo(cid:271)al e(cid:272)o(cid:374)o(cid:373)(cid:455) World 3. 0 - it"s a (cid:449)orld (cid:449)here (cid:374)atio(cid:374)s (cid:272)ooperate i(cid:374) the glo(cid:271)al e(cid:272)o(cid:374)o(cid:373)(cid:455) (cid:449)hile still respe(cid:272)ti(cid:374)g differe(cid:374)t (cid:374)atio(cid:374)al characters and interests. Its basically globalization in which national identities remain strong even as the opportunities of the global economy are sought. Global management - it involves managing operations in more than one country. Success in international firms comes having a good global manager with strong global perspectives. Global businesses are the foundations of world trade. Profits - global operations offer greater profit potential. Customers - global operations offer new markets to sell products. Capital - global operations offer access to financial resources. Labour - global operations offer access to lower labour cost.