GMS 200 Lecture Notes - Lecture 5: Turnitin, Mccain Foods, Franchising

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

Document Summary

Chapter 3, mini-assignment # 1: there are many different forms of global business, all of which can be effective if performed and executed properly. Global sourcing; materials or services are purchased around the world for local use. Imports/exports; respectively, selling in domestic markets of products acquired abroad and local products that are sold abroad to foreign customers. Licensing agreement; a local firm pays a fee to a foreign firm for rights to make or sell its products. Franchising; a fee is paid to a foreign business for rights to locally operate its name, branding, and methods. Foreign direct investment; is building, buying all, or buying part ownership of a business in another country. Joint venture; operates in a foreign country through co-ownership by foreign and local partners. Greenfield investment; builds an entirely new operation in a foreign country: the definition of a multinational corporation is a business with extensive operations in more than one foreign country.