CHAPTER 1 SUMMARY

CHAPTER 1 SUMMARY - CHAPTER 1 SUMMARY 1. Over the past two...

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CHAPTER 1 SUMMARY 1. Over the past two decades, we have witnessed the globalization of markets and production. 2. The globalization of markets implies that national markets are merging into one hug marketplace. However, it is important not to push this view too far. 3. The globalization of production implies that firms are basing individual productive activities at the optimal world locations for the particular activities. As a consequence, it is increasingly irrelevant to talk about American products, since these are being replaced by “global” products. 4. 2 factors seem to underlie the trend toward globalization: declining trade barriers and changes in communication, information, and transportation technologies. 5. Since the end of WWII, barriers to the free flow of goods, services, and capital have been lowered significantly. More than anything else, this has facilitated the trend toward the globalization of production and has enabled firms to view the world as a single market. 6.
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This note was uploaded on 05/09/2008 for the course MGMT 80 taught by Professor Walsh,kevin during the Spring '08 term at Santa Clara.

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CHAPTER 1 SUMMARY - CHAPTER 1 SUMMARY 1. Over the past two...

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