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Globalization
Globalization and
Business
Historical Developments in the Global Economy

International Trade Barriers

International Trade Agreements & Organizations

Types of International Business

Globalization and Business

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The Global Corporation
Globalization and
Business
(continued)
Managing International Corporations

Globalization and Business

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Globalization and Business > Globalization

Globalization
• Defining Globalization
• Benefits of Globalization
• Complications of Globalization

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www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/globalization-101/
Globalization and Business > Historical Developments in the Global Economy

Historical Developments in the Global Economy


• Major Historical Developments in the Global Economy

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global-economy-102/
Globalization and Business > International Trade Barriers

International Trade Barriers


• Economics
• Ethical Barriers
• Cultural Barriers
• Technological Barriers
• The Argument for Barriers
• The Argument Against Barriers

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Globalization and Business > International Trade Agreements & Organizations

International Trade Agreements & Organizations


• Common Markets
• The Export-Import Bank of the United States
• The International Monetary Fund (IMF)
• The North American Free Trade Agreement (NAFTA)
• The World Bank
• The European Union
• The Asia-Pacific Economic Cooperation
• The General Agreement on Tariffs and Trade (GATT)

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organizations-104/
Globalization and Business > Types of International Business

Types of International Business


• Countertrade
• Direct Investment
• Franchising
• Multinational Firms
• Offshoring
• Joint Ventures
• Outsourcing
• Importing
• Licensing
• Contract Manufacturing
• Exporting

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Globalization and Business > The Global Corporation

The Global Corporation


• Definition and Challenges of a Global Corporation

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Globalization and Business > Managing International Corporations

Managing International Corporations


• Considerations when Managing a Global Corporation

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Appendix
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Globalization and Business

Key terms
• barter The exchange of goods or services without involving money.
• bloc A group of countries acting together for political or economic goals, an alliance (e.g., the eastern bloc, the western bloc, a
trading bloc).
• BRIC An acronym for the four largest emerging economies: Brazil, Russia, India, and China.
• capital market The market for long-term securities, including the stock market and the bond market.
• captive held prisoner; not free; confined
• collateral A security or guarantee (usually an asset) pledged for the repayment of a loan if one cannot procure enough funds to
repay. (Originally supplied as "accompanying" security. )
• comparative advantage The concept that a certain good can be produced more efficiently than others due to a number of
factors, including productive skills, climate, natural resource availability, and so forth.
• comparative advantage The concept that a certain good can be produced more efficiently than others due to a number of
factors, including productive skills, climate, natural resource availability, and so forth.
• Contract manufacturing Business model in which a firm hires a contract manufacturer to produce components or final products
based on the hiring firm's design.
• Contract manufacturing a business model where a firm hires another firm to produce components or products
• counter purchase Sale of goods and services to one company in another country by a company that promises to make a future
purchase of a specific product from the same company in that country.
• credit agency A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt
obligations as well as the debt instruments themselves. In some cases, the servicers of the underlying debt are also given
ratings.

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Globalization and Business

• cross-cultural knowledge Expertise in varying cultures across the globe.


• developing Of a country: becoming economically more mature or advanced; becoming industrialized.
• economies of scale The characteristics of a production process in which an increase in the scale of the firm causes a decrease
in the long run average cost of each unit.
• economies of scope Lowering average cost for a firm in producing two or more products through the common and recurrent
use of proprietary know-how or an indivisible physical asset.
• enterprise A company, business, organization, or other purposeful endeavor.
• euro The currency unit of the European Monetary Union. Symbol: €
• European Union A supranational organization created in the 1950s to bring the nations of Europe into closer economic and
political connection. At the beginning of 2012, 27 member nations were Austria, Belgium, Bulgaria, Cyprus, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The
Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.
• exploitation The act of depriving an entity of something they have a natural right to.
• export to sell (goods) to a foreign country
• exporting the sale of capital, goods, and services across international borders or territories
• exporting the act of selling to a foreign country
• Foreign direct investment investment directly into production in a country by a company located in another country, either by
buying a company in the target country or by expanding operations of an existing business in that country.

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Globalization and Business

• franchisee A holder of a franchise; a person who is granted a franchise.


• franchiser A franchisor, a company or person who grants franchises.
• free trade International trade free from government interference, especially trade free from tariffs or duties on imports.
• free trade International trade free from government interference, especially trade free from tariffs or duties on imports.
• GDP Gross Domestic Product (Economics). A measure of the economic production of a particular territory in financial capital
terms over a specific time period.
• global civics The notion that we have certain rights and responsibilities towards each other by the mere fact of being human on
Earth.
• globality The end result of globalization, an economy entirely without geographic borders.
• globality The end result of globalization, an economy entirely without geographic borders.
• Globalization The process of going to a more interconnected world.
• globalization The process of international integrating arising from the interchange of world views, products, ideas, and other
aspects of culture.
• guarantee To assume responsibility for a debt.
• import To bring (something) in from a foreign country, especially for sale or trade.

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Globalization and Business

• import To bring (something) in from a foreign country, especially for sale or trade.
• individualism The tendency for a person to act without reference to others, particularly in matters of style, fashion or mode of
thought.
• inflation An increase in the general level of prices or in the cost of living.
• insourcing The obtaining of goods or services using domestic resources or employees as opposed to foreign.
• integration The act of taking separate parts and combining them to make a whole.
• interdependent Two or more systems that depend or support one another, often achieving mutual benefit.
• isolationist Pertaining to a national (or group) policy of non-interaction with other nations (or groups).
• joint venture A cooperative partnership between two individuals or businesses in which profits and risks are shared.
• licensee In a licensing relationship, the buyer of the produce, service, brand or technology being licensed.
• licensor In a licensing relationship, the owner of the produce, service, brand or technology being licensed.
• loan A sum of money or other valuables or consideration that an individual, group, or other legal entity borrows from another
individual, group, or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a
later date (sometimes with interest).
• localization Act or process of making a product suitable for use in a particular country or region.

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Globalization and Business

• moral hazard The prospect that a party insulated from risk may behave differently from the way it would behave if it were fully
exposed to the risk.
• multilateral Involving more than one party (often used in politics to refer to negotiations, talks, or proceedings involving several
nations).
• Multinational corporation A corporation or enterprise that operates in multiple countries.
• neoliberalism A political movement that espouses economic liberalism as a means of promoting economic development and
securing political liberty.
• offshoring The location of a business in another country for tax purposes.
• offshoring The location of a business in another country for tax purposes.
• outsourcing The transfer of a business function to an external service provider.
• outsourcing The transfer of a business function to an external service provider.
• poverty The quality or state of being poor or indigent; want or scarcity of means of subsistence; indigence; need.
• quota a restriction on the import of something to a specific quantity.
• red tape A derisive term for regulations or bureaucratic procedures that are considered excessive or excessively time- and
effort-consuming.
• risk To incur risk [of something].

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Globalization and Business

• standard A level of quality or attainment.


• Switch trading Practice in which one company sells to another its obligation to make a purchase in a given country.
• Synergy The concept that a whole can derive more value than the combination of the individual parts. A common expression in
defining synergy is 1+1 = 3, or each piece derives more value that it would on it's own.
• tariff A system of government-imposed duties levied on imported or exported goods; a list of such duties, or the duties
themselves.
• tariff A system of government-imposed duties levied on imported or exported goods; a list of such duties, or the duties
themselves.
• tariff A system of government-imposed duties levied on imported or exported goods; a list of such duties, or the duties
themselves.
• trade bloc A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where
regional barriers to trade, (tariffs and non-tariff barriers) are reduced or eliminated among the participating states.
• trade war The practice of nations creating mutual tariffs or similar barriers to trade.
• transparency Open, public; having the property that theories and practices are publicly visible, thereby reducing the chance of
corruption.
• value-chain The series of operations necessary for a business to operate.
• World Bank a group of five financial organizations whose purpose is economic development and the elimination of poverty

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Globalization and Business

European Union
European Union member countries

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Globalization and Business

NAFTA countries
The members of NAFTA are the U.S., Canada, and Mexico.

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Wikipedia. "North American Agreement (orthographic projection)." GNU FDL
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Globalization and Business

European Economic Community


Original member states (blue) and later members (green)

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1992.png View on Boundless.com
Globalization and Business

Bartering
Bartering involves exchanging goods or services for other goods or services as payment.

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Globalization and Business

WTO Membership, 2005


GATT was replaced by the World Trade Organization (WTO) in 1995. This map shows membership in the WTO in 2005.

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Globalization and Business

Members of the World Trade Organization


Most countries are now part of the World Trade Organization. Those that are not are concentrated in northeast Africa, Oceania, and the Middle East. The
European Union is its own bloc within the W.T.O.

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Globalization and Business

Export-Import Bank of the United States


Seal of the Export-Import Bank of the United States.

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Globalization and Business

IMF Headquarters
Washington, DC headquarters of the IMF

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Globalization and Business

Global Trade in the 13th Century


Different regions of trade overlapped; for instance the Mongol Empire's area of influence interacted with Southern European trade interests.

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Globalization and Business

The Silk Road


The Silk Road stretched across Asia from the Mediterranean Sea to the Pacific Coast of China, making it one of history's strongest examples of
international trade development.

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Globalization and Business

The United Nations Headquarters in New York City

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Globalization and Business

Income Inequality as of 2014


This map demonstrates levels of income inequality across the globe utilizing a Gini coefficient as of 2014. The very real divide between developed and
developing nations underscores a core weakness in globalization, as benefits are not shared equally and wages do not reflect norms across regions.

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Wikipedia. "2014_Gini_Index_World_Map%2C_income_inequality_distribution_by_country_per_World_Bank.svg." CC BY-SA 3.0
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Globalization and Business

Singapore
The Port of Singapore is one of the busiest ports in the world. Singapore has to import most of its food and consumer goods.

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Globalization and Business

Oil Exports 2006


The map shows barrels of oil exported per day in 2006. Russia and Saudi Arabia exported more barrels than any other oil-exporting countries.

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Globalization and Business

World Bank Headquarters


Washington, DC headquarters of the World Bank

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Globalization and Business

Sao Paulo, Brazil


Sao Paulo, Brazil, is home to a growing middle class and significant direct investments.

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Globalization and Business

A port in Singapore
International trade barriers can take many forms for any number of reasons. Generally, governments impose barriers to protect domestic industry or to
"punish" a trading partner.

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Globalization and Business

International trade
International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of GDP.

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Wikimedia Commons. "Storck Harbour scene.jpg." Public domain https://commons.wikimedia.org/wiki/File:Storck_Harbour_scene.jpg View on Boundless.com
Globalization and Business

Joint Venture
Sony Ericsson is a joint venture between Swedish telecom corporation Ericsson and Japanese electronics manufacturer Sony.

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Globalization and Business

GDP Growth Rate by Country


This map highlights where the strongest growth opportunities currently are, as of 2010. In that year China and India had the highest GDP growth rates.

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Globalization and Business

Outsourcing
Outsourcing is the process of contracting an existing business process to an independent organization. The process is purchased as a service.

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Globalization and Business

Contract Manufacturing
Ness Corporation is a contract manufacturer in Seven Hills, Australia.

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Globalization and Business

Hofstede's Cultural Dimensions Theory Example

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Globalization and Business

APEC member countries


APEC's member countries border both the east and the west of the Pacific Ocean.

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Globalization and Business

Worldwide Offshoring Business


The worldwide offshoring business is projected to equal $500 billion by 2020.

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Globalization and Business

Criticism of the Global Capitalist Economy


Demonstrations, such as the mass protest at the 1999 WTO meeting in Seattle, highlight ethical questions on the effects of international trade on poor
and developing nations.

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Globalization and Business

Ford
Ford is a multinational corporation with operations throughout the world.

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Globalization and Business

Licensing
The 1933 Fiat 508 was manufactured under a license in Poland by Polski Fiat.

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Globalization and Business

Korea International Trade Association


KITA attempts to protect South Korean producers while finding international export markets.

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Globalization and Business

Starbucks' Expansion
Starbucks operates with a wide variety of strategic alliances, including a franchising program.

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Globalization and Business

Change in GDP
This graph shows growth in gross domestic product in various advanced economies, accumulated over the periods 1990–1999 and 1990-2006. China
shows the most notable change in GDP, from 125% growth over 1990–1999 to 325% growth over 1990–2006. India, Ireland, Korea, and Singapore
show substantial respective increases from around 50% growth to around 150% growth.

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Globalization and Business

Top 5 Economies by 2050


This highlights the importance of the BRIC group of countries. Projections for the economic growth of those four states outstrip other countries by tens of
thousands of dollars.

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Globalization and Business

Energy Consumption Estimates (1970 - 2025)


This chart shows the exponential growth in energy consumption that is caused by globalization.

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Globalization and Business

US GDP Per Capita 1929-2010


This illustrates the rapid economic success of the US; from $9,000 per capita in 1929, to almost $50,000 per capita in 2010.

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Globalization and Business

Attribution
• Wikipedia. "EU." CC BY-SA 3.0 http://en.wikipedia.org/wiki/EU
• Wiktionary. "euro." CC BY-SA 3.0 http://en.wiktionary.org/wiki/euro
• Wiktionary. "European Union." CC BY-SA 3.0 http://en.wiktionary.org/wiki/European_Union
• Wiktionary. "transparency." CC BY-SA 3.0 http://en.wiktionary.org/wiki/transparency
• Wikipedia. "trade bloc." CC BY-SA 3.0 http://en.wikipedia.org/wiki/trade%20bloc
• Wikipedia. "Nafta." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Nafta
• Wiktionary. "free trade." CC BY-SA 3.0 http://en.wiktionary.org/wiki/free_trade
• Wiktionary. "tariff." CC BY-SA 3.0 http://en.wiktionary.org/wiki/tariff
• Wikipedia. "European Economic Community." CC BY-SA 3.0 http://en.wikipedia.org/wiki/European_Economic_Community
• Wikipedia. "Common markets." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Common_markets
• Wikipedia. "European Free Trade Association." CC BY-SA 3.0 http://en.wikipedia.org/wiki/European_Free_Trade_Association
• Wiktionary. "free trade." CC BY-SA 3.0 http://en.wiktionary.org/wiki/free_trade
• Wikipedia. "European Economic Area." CC BY-SA 3.0 http://en.wikipedia.org/wiki/European_Economic_Area
• Wikipedia. "Counter trade." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Counter_trade
• Wikipedia. "counter purchase." CC BY-SA 3.0 http://en.wikipedia.org/wiki/counter%20purchase
• Wikipedia. "Switch trading." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Switch%20trading
• Wikipedia. "Countertrade." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Countertrade

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Globalization and Business

• Wiktionary. "barter." CC BY-SA 3.0 http://en.wiktionary.org/wiki/barter


• Wikipedia. "General Agreement on Tariffs and Trade." CC BY-SA 3.0
http://en.wikipedia.org/wiki/General_Agreement_on_Tariffs_and_Trade
• Wiktionary. "tariff." CC BY-SA 3.0 http://en.wiktionary.org/wiki/tariff
• Wiktionary. "multilateral." CC BY-SA 3.0 http://en.wiktionary.org/wiki/multilateral
• Wiktionary. "standard." CC BY-SA 3.0 http://en.wiktionary.org/wiki/standard
• Wiktionary. "enterprise." CC BY-SA 3.0 http://en.wiktionary.org/wiki/enterprise
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Globalization and Business

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Globalization and Business

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Globalization and Business

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