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Chapter 1 Globalization. Chapter Preview. Describe globalization Explain how globalization affects markets and production Identify the drivers of globalization Discuss the globalization debate List types of firms in international business Define the global business environment.

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chapter preview
Chapter Preview
  • Describe globalization
  • Explain how globalization affects markets and production
  • Identify the drivers of globalization
  • Discuss the globalization debate
  • List types of firms in international business
  • Define the global business environment

International Business 4e

globalization involves us all

We experience international

transactions daily

Imports and exports reach

even remote areas

Technology and e-biz

promote trade

Consumers and companies

pull markets closer

Globalization Involves Us All

International Business 4e

international business
International Business

International Business 4e

globalization
Globalization

Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies

Globalization of production

Dispersal of production activities worldwide to minimize costs or maximize quality

Globalization of markets

Convergence in buyer preferences in markets around the world

International Business 4e

benefits of globalization
Benefits of Globalization

Globalization

of markets

Globalization

of production

  • Reduces marketing costs
  • New market opportunities
  • Levels income stream
  • Access low-cost labor
  • Access technical expertise
  • Access production inputs

International Business 4e

advice of global managers
Advice of Global Managers
  • Know the customer
  • Emphasize global awareness
  • Develop world-class products
  • Market effectively
  • Improve logistics
  • Analyze problems correctly

International Business 4e

globalization drivers i

GATT

WTO

Regional trade

agreements

Globalization Drivers I

Remove barriers to trade

and investment

International Business 4e

trade exceeds output
Trade Exceeds Output

International Business 4e

globalization drivers ii technological innovation
Globalization Drivers IITechnological Innovation

E-mail and videoconferencing

Internet, intranets,

and extranets

Transportation

advancements

Better coordination and control

Improved communications and management

More efficient, dependable shipping

International Business 4e

slide11

Top 20 Global Nations

International Business 4e

globalization then and now
Globalization Then and Now

Highly mobile

labor market

Fear of jobs

moving abroad

Free-flowing

capital and trade

Backlash among

the disaffected

International Business 4e

challenges to business

Examine company

vulnerability and

create a disaster

recovery plan

Guard proprietary

information and

confidential

communications

Require ethical and

lawful behavior from

all employees and

business partners

Physical

security

Digital

security

Reputational

risk

Challenges to Business

International Business 4e

from anarchy to debate
From Anarchy to Debate

Rage

Reason

Violence

Legitimacy

Carnage

Civility

Exclusion

Debate

International Business 4e

jobs and wages
Jobs and Wages

Supporters

Opponents

  • Increases wealth and

efficiency

  • Generates labor market

flexibility

  • Creates jobs in

developed countries

  • Advances economies

of developing nations

  • Eliminates jobs in

developed nations

  • Forces wages lower

in developed nations

  • Exploits workers in

developing nations

International Business 4e

labor and environment
Labor and Environment

Opponents

Supporters

  • Investment raises

labor standards

  • Open economies most

environment friendly

  • Companies concerned

for future markets

  • Globalization lowers

labor standards

  • Weakens protection of

the environment

  • Exploits workers in

poor nations

International Business 4e

income inequality debate

Income Inequality

Income Inequality debate

1

Inequality within nations

Poor people in developing nations benefit most from

an open economy

2

3

Inequality between nations

Nations open to world trade and investment grow faster than rich nations

Global inequality

Inequality has fallen, but experts disagree on the extent of the decline

International Business 4e

national sovereignty
National Sovereignty

Opponents

Supranational institutions reduce autonomy of national, regional, and local governments

Supporters

Globalization has benefited societies by helping to spread democracy worldwide

International Business 4e

impact on culture
Impact on Culture
  • Supporters
    • Specialize and trade to obtain other goods
    • Import cultural goods from other nations
    • Protects deeper moral and cultural norms
  • Opponents
    • Destroys cultural diversity
    • Homogenizes our world
    • Bankrupts local small businesses

International Business 4e

culture matters is resistance futile
Culture Matters:Is Resistance Futile?

The Same Everything?

…or Cultures Flourishing?

Values Gone for Good?

…or a Force for Good?

Finding Common Ground

International Business 4e

slide21

Multinational

Corporation

Small Businesses

and Entrepreneurs

Born-Global Firm

Takes a global perspective on its market and engages in international business from inception

Small companies and individuals becoming increasingly active in international trade and investment

Business that has direct investments abroad in multiple countries

International Business Players

International Business 4e

how they stack up
How They Stack Up

Comparing revenue of the world's 10 most global firms to the gross domestic product of nations

International Business 4e

global business environment
Global Business Environment

International Business 4e

chapter review
Chapter Review
  • Describe globalization
  • Explain how globalization affects markets and production
  • Identify the drivers of globalization
  • Discuss the globalization debate
  • List types of firms in international business
  • Define the global business environment

International Business 4e