MKT 310 Lecture Notes - Lecture 2: Communitarianism, Planned Economy, Foreign Corrupt Practices Act
Document Summary
Factors of production: land, labor, capital, entrepreneurship, your country has an abundance of scientists entrepreneurship, highly trained/skilled people fall under entrepreneurship. Drivers of globalization: reduction of transaction costs, reduction of transportation costs, globalization has been sped up by information technology. Individualism vs. collectivism: individualism stresses democratic systems and free market, collectivism stresses the gain of the group over an individual. In most totalitarian regimes: there is widespread political repression, media is censored. Foreign corrupt practices act: limits corruption in the united states, illegal to bribe a foreign government official, all publicly traded companies must keep detailed records. State governance: m form: organization of the country is decentralized (china, u form: everything is produced in one factory and shipped out (russia) Regulatory vs. developmental: regulatory: lots of rules but everyone is treated the same, developmental: treating different groups differently (not always foreign vs. domestic, developmental: use laws to achieve purpose.
