Bus 162 - 1

Chapter One

Globalization and International Linkages

1. Assess - the implication of globalization for countries, industries, firms, and communities.
2. Review - The major trends in global and regional integration
3. Examine
4. Analyze

International Mgnt
* International management process:
-Applying management concepts and techniques in a multinational environment
-Adapting management practices to different economic, political, and cultural environments.
*Multinational corporation (MNC):
- Operations in more than one country
- International sales
- Nationality mix of managers and owners

Globalization: the process of integration among countries around the world with a vision of a single market entity: Social, Economic, Political, Technological, Cultural

Internationalization: the process of a business crossing national and cultural borders.

*Benefits of Globalization: Wealth, jobs, technology, lower prices.
*Criticisms of Globalization: off-shoring of business service jobs to lower wage country; growing trade deficits; slow wage growth; environmental and social impacts.

Global Agreement
World Trade Organization (WTO)
(General Agreement on Tariffs and Trade (GATT)
*Regional Agreements:
North American Free Trade Agreement (NAFTA)
U.S. - Central American Free Trade Agreement (CAFTA)
Europe Union (EU)
Association of Southeast Asian Nations (ASEAN)
Free Trade Agreement of the Americas (FTAA)

read ch 1-2