ADM 2320 Chapter Notes - Chapter 17: Waste Management, Marketing Mix, Franchising
Document Summary
Globalization: refers to the increased flow of goods, services, people, technology, capital, information, and ideas around the world; has economic, political, social, cultural, and environmental impacts. Globalization of markets affects all companies large, small, medium, and entrepreneurial. Competition is no longer local/provincial/national, it is global. Growth of the global economy: globalization of marketing and. Globalization of production (offshoring): refers to manufacturers" procurement of goods and services from around the globe to take advantage of national differences in the cost and quality of various factors of production (e. g. , labour, energy, land, capital) General agreement of tariffs and trade (gatt): agreement established to lower trade barriers, such as high tariffs on imported goods and restrictions on the number and types of imported products that inhibited the free flow of goods across borders. International monetary fund (imf): established as part of the original general.