GMS 522 Chapter Notes - Chapter 1: Scotiabank, Capitalism

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 522
• Professor: Helene Moore

Document Summary

We are witnessing the abolition of state monopolies. China, even with strong communist roots is slowly embracing free enterprise and moving toward a more liberalized economy. Scotiabank invested in chinese financial services company. International firms of all sizes pay significantly higher wages than domestic-only firms. International goods and services are within the reach of consumers in developing and emerging countries. Markets are becoming more global with convergence of cultural and national preferences. Canada was ranked third most globalized country in the world. Global marketing: marketing activities that take place across national borders and outside of the firm"s home country. A firm has to have the breadth of coverage in all markets around the world to be considered truly global. Coordination and integration of marketing strategy with an emphasis on standardization are central tenets of global marketing.