Chapter 1 Student P11

Chapter 1 Student P11 - Chapter1 Globalization...

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Chapter 1 Globalization
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Upon completion of this material,  you should be able to: Describe globalization and the challenges  globalization creates for businesses. Describe key events from the different  phases of globalization. Explain the 5 classifications of risks  businesses face in international business. Analyze the positive aspects of globalization  and the concerns about globalization.
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Globalization Globalization is the shift toward a  more integrated and interdependent  world economy.
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Components of Globalization Globalization of Markets The merging of distinctly separate  national markets into a global  marketplace. Globalization of Production The sourcing of goods and services  from locations around the world to  exploit national differences in the cost  and quality of factors of production.
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Globalization of Production Michaels, D., & Sanders, P. (2009, October 7). Boeing settles in for a bumpy ride. Wall Street Journal , p.
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Drivers of Globalization Declining Trade and Investment  Barriers Technological Change
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Technological Change Microprocessors and  Telecommunications The Internet and World Wide Web Transportation Technology
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Globalization in Action: IKEA IKEA’s home furnishings are designed to be  functional and good looking and sold at a low  price. There are 301 IKEA stores in 37 countries. IKEA uses the same retail concepts globally  and sells many of the same products. IKEA uses a global network of 1,220  suppliers in 55 countries to manufacture  products designed by the firm.
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Limits to Globalization of Markets Significant differences still exist  among national markets. The most global of markets are for  industrial goods and materials that  have universal applicability.
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Limits to Globalization of  Production Managing a global web of suppliers  and production facilities is complex. The costs of using a nation’s factors 
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This note was uploaded on 02/28/2011 for the course MGT 302 taught by Professor West during the Spring '10 term at ASU.

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Chapter 1 Student P11 - Chapter1 Globalization...

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