GMS 522 Lecture Notes - Lecture 3: Competition Law, Twelfth Grade, Masculinity

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Carlyle Farrell

Document Summary

9 elements of a business culture: relationship, language, body language, religion, values and. Terminology: trade literacy has become as important in modern business as the internet, countertrade. A general international trade term for a variety of methods to conduct reciprocal trade in which the seller is required to accept goods or other instruments of trade, in partial or whole payment for its products: barter. Trade in which merchandise is exchanged directly for other merchandise without the use of money: product buyback . Principally applicable for the construction and supply of plant and equipment. Major characteristic is its long-term aspect: counterpurchase. One of the most common forms of counter trade in which the seller receives cash but contractually agrees to buy local products or services as a percentage of cash received and over an agreed period of time. Relationships developed over a long period of time are the thing that reduces mistrust.