COB Notes Chapter 3 - Introduction to Business The Dynamic...

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Introduction to Business Chapter 3 The Dynamic Global Market World Population by Continent: Asia 60% South America 6% Africa 12% United States 1% Why Trade With Other Nations? No nation can produce all its needs Mutually beneficial exchange Natural Resources or technology – produce or buy? Leading Goods Exporters/Importers Country Exports/Imports (in billions) United States 928 1476 Germany 1016 717 Japan 539 402 France 443 420 United Kingdom 374 439 World Total 9099 8823 Strategies for Reaching Global Markets  (from easiest to hardest to do) Exporting – no money involved (no learning) Licensing – your expertise is lent to other countries (your fee is from what they  make) you don’t lose anything if they do poorly Franchising – they have to do as you say (they hold the name, the product and  the expectation) you lose money if they do bad Contract manufacturing – has nothing to do with gaining intelligence for market 
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COB Notes Chapter 3 - Introduction to Business The Dynamic...

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