GMS 200 Lecture Notes - Lecture 2: Foreign Direct Investment, Global Sourcing, Insourcing

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

Document Summary

Types of market entry strategies: maple syrup, wood, oil, lobster. Global sourcing: global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Global economy: resource supplies, product markets, and business competition are worldwide, rather than local, the process of growing interdependence of these components in. Franchising: is the practice of using another firm"s successful business model. Is a direct investment into production or business in a country by an individual or company of another country, either by: buying a company in the target country, by expanding operations of an existing business in that country. Insourcing: having people within the company do jobs that would normally be done by contractors. Outsourcing: having contactors outside your company to do jobs that would normally be done by people within the company. Joint venture: operates in a foreign country through co-ownership by foreign and local partners. Foreign and domestic firms share resources and knowledge.