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Global Dimensions of Business

Global Dimensions of Business. Business 187 Prof. Robert Chapman WOOD. 1-1. Global Dimensions of Business. Business as it operates globally across vastly different cultures and institutions. International business is different

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Global Dimensions of Business

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  1. Global Dimensions of Business Business 187 Prof. Robert Chapman WOOD 1-1

  2. Global Dimensions of Business • Business as it operates globally • across vastly different cultures and institutions.

  3. International business is different • Different mechanisms – procedures for exporting, importing, setting up units in foreign countries • Different cultural experiences • Surprising principles for business strategy

  4. Globalization • ‘The shift toward a more integratedand interdependent world economy’ • Globalization is significantly changing life for the majority of the world’s people (including us)

  5. Importance of international business • International business is transforming the world • It can transform the world for the better • The fastest growing economies are the largest economies • China • India

  6. Hundreds of millions of people are living better today than 10 years ago • But we’ve learned that even before the recession, billions were not being reached • Are average people in China, India living better?

  7. When east Asia started developing, ordinary people gained • Japan • Korea • Taiwan • Singapore • growth in the 1980s in China • It is possible for development to benefit everybody

  8. Institutions: The ‘rules of the game’ • As we learned looking at Don Ciccio in The Godfather, Part II, the rules • vary a lot from place to place; • are very hard to change • We need to understand • what the rules arein places we work • what can do within the rules • maybe whether we can/should change the rules

  9. Learn international business to figure out our roles in the world • Think about how we can make better ways of living for everyone

  10. The course to date • First half - the systems that provide the environment for global business • Coming up - How to do global business • political economic • cultural, ethics • international trade • foreign exchange • global finance • business clusters • global strategy (principles last week) • choosing markets • exporting • marketing & distribution • logistics • human resource mgmt.

  11. Scary times • Both bad and good things are happening • Good: growth, new opportunities, people emerging from poverty • Bad: pollution, layoffs, lying executives, war • Really Bad: Huge recession • I hope this semester provides tools that help you create more of the good and get rid of some of the bad

  12. Why International Business is Growing • Liberal government policies on trade • Rapid improvement of technology • Transportation is quicker while costs are lower • Communication enables control from afar • New institutions to support trade Examples: • Global banking Federal Express • Consumer demand • Companies learning from each other

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