CHAPTER 1 � GLOBALIZATION

CHAPTER 1 � GLOBALIZATION - CHAPTER 1 GLOBALIZATION...

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CHAPTER 1 – GLOBALIZATION Globalization the shift toward a more integrated and interdependent world economy several different facets including globalization of markets, globalization of production and globalization of consumers developments in communications technology and a homogenization of economies have resulted in the concept of a worldwide consumer Globalization of Markets refers to the merging of historically distinct and separate national markets into one huge global marketplace tastes and preferences of consumers in different nations are beginning to converge helping to create a global market offering a standardized product worldwide helps to create a global market most global markets currently are for industrial goods and materials that serve a universal need the world over (aluminum, oil, wheat) Globalization of Production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (land, labor, energy and capital) lowers companies overall cost structure and/or improves the quality or functionality of
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This note was uploaded on 10/12/2010 for the course MOS 1220A taught by Professor Giddens during the Spring '10 term at UWO.

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CHAPTER 1 � GLOBALIZATION - CHAPTER 1 GLOBALIZATION...

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