GMS 200 Lecture 3: GMS200

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

Document Summary

Uncertainty avoidance (ppl in india avoid starting their own businesses bc too risky) Masculinity-femininity (feminine values- taking care of older ppl; masculine values- assertive) Resources supplies, product markets, and business competition are worldwide, rather than local. Process of growing interdependence of these components in global economy. Global sourcing: practice of sourcing from the global market for goods and services across geopolitical boundaries. Licensing agreement: license means to give permission. Franchising: the practice of using another firms successful business model. Foreign direct investment is a direct investment into production or business in a country by an individual or company of another county, either by. Buying a company in the target county or. 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. Operates in a foreign country through co-ownership by foreign and local partners. Foreign and domestic firms share resources and knowledge.