Globalization and Business

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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
The Global Corporation
Globalization and
Business
(continued)
Managing International Corporations
Globalization and Business > Globalization
Globalization
• Defining Globalization
• Benefits of Globalization
• Complications of Globalization
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
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/historical-developments-in-the-
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
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/international-trade-barriers-103/
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)
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/international-trade-agreements-
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
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/types-of-international-business-105/
Globalization and Business > The Global Corporation
The Global Corporation

• Definition and Challenges of a Global Corporation
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/the-global-corporation-106/
Globalization and Business > Managing International Corporations
Managing International Corporations

• Considerations when Managing a Global Corporation
www.boundless.com/management/textbooks/boundless-management-textbook/globalization-and-business-14/managing-international-
corporations-107/
Appendix
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.
• 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.
• 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.
• 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.
• 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].
• 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.
themselves.
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
European Union
European Union member countries
Wikimedia. "European Union." CC BY-SA http://commons.wikimedia.org/wiki/File:European_Union.svg View on Boundless.com
NAFTA countries
The members of NAFTA are the U.S., Canada, and Mexico.
Wikipedia. "North American Agreement (orthographic projection)." GNU FDL
http://en.wikipedia.org/wiki/File:North_American_Agreement_(orthographic_projection).svg View on Boundless.com
European Economic Community

Original member states (blue) and later members (green)
Wikipedia. "Expansion of the European Communities 1973-1992." Public domain http://en.wikipedia.org/wiki/File:Expansion_of_the_European_Communities_1973-
1992.png View on Boundless.com
Bartering
Bartering involves exchanging goods or services for other goods or services as payment.
Wikipedia. "1024px-Barter-Chickens_for_Subscription.jpg." Public domain https://en.wikipedia.org/wiki/Barter#/media/File:Barter-Chickens_for_Subscription.jpg
View on Boundless.com
WTO Membership, 2005

GATT was replaced by the World Trade Organization (WTO) in 1995. This map shows membership in the WTO in 2005.
Wikimedia. "WTO2005." GNU FDL http://commons.wikimedia.org/wiki/File:WTO2005.png View on Boundless.com
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.
Wikipedia. "WTO_members_and_observers.svg.png." CC BY-SA 4.0 https://en.wikipedia.org/wiki/World_Trade_Organization View on Boundless.com
Export-Import Bank of the United States

Seal of the Export-Import Bank of the United States.
Wikimedia. "US-ExportImportBank-Seal." Public domain http://commons.wikimedia.org/wiki/File:US-ExportImportBank-Seal.svg View on Boundless.com
IMF Headquarters
Washington, DC headquarters of the IMF
Wikimedia. "International Monetary Fund building." CC BY-SA http://commons.wikimedia.org/wiki/File:International_Monetary_Fund_building.JPG View on
Boundless.com
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.
Wikimedia. CC BY http://upload.wikimedia.org/wikipedia/commons/thumb/9/90/Archaic_globalization.svg/500px-Archaic_globalization.svg.png View on
Boundless.com
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.
Wikimedia. CC BY http://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Silk_Road.svg/500px-Silk_Road.svg.png View on Boundless.com
The United Nations Headquarters in New York City
Wikipedia. "The_United_Nations_Secretariat_Building 2.jpg." CC BY-SA 3.0
https://en.wikipedia.org/wiki/Globalization#/media/File:The_United_Nations_Secretariat_Building.jpg View on Boundless.com
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.
Wikipedia. "2014_Gini_Index_World_Map%2C_income_inequality_distribution_by_country_per_World_Bank.svg." CC BY-SA 3.0
https://upload.wikimedia.org/wikipedia/commons/0/0c/2014_Gini_Index_World_Map%2C_income_inequality_distribution_by_country_per_World_Bank.svg View on
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.
Wikipedia. "SingaporePort1." CC BY http://en.wikipedia.org/wiki/File:SingaporePort1.JPG View on Boundless.com
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.
Wikimedia. "Oil exports." GNU FDL http://commons.wikimedia.org/wiki/File:Oil_exports.PNG View on Boundless.com
World Bank Headquarters

Washington, DC headquarters of the World Bank
Wikimedia. "World Bank building." CC BY-SA http://commons.wikimedia.org/wiki/File:World_Bank_building.JPG View on Boundless.com
Sao Paulo, Brazil

Sao Paulo, Brazil, is home to a growing middle class and significant direct investments.
Wikipedia. "1024px-Paulista_Avenue%2C_S%C3%A3o_Paulo%2C_Brazil.jpg." CC BY-SA 4.0
https://en.wikipedia.org/wiki/S%C3%A3o_Paulo#/media/File:Paulista_Avenue,_S%C3%A3o_Paulo,_Brazil.jpg View on Boundless.com
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.
Wikipedia. "SingaporePort1." CC BY http://en.wikipedia.org/wiki/File:SingaporePort1.JPG View on Boundless.com
International trade
International trade is the exchange of goods and services across national borders. In most countries, it represents a significant part of GDP.
Wikimedia Commons. "Storck Harbour scene.jpg." Public domain https://commons.wikimedia.org/wiki/File:Storck_Harbour_scene.jpg View on Boundless.com
Joint Venture
Sony Ericsson is a joint venture between Swedish telecom corporation Ericsson and Japanese electronics manufacturer Sony.
Wikimedia. "Sony Ericsson sign." CC BY-SA http://commons.wikimedia.org/wiki/File:Sony_Ericsson_sign.jpg View on Boundless.com
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.
Wikimedia. CC BY-SA http://upload.wikimedia.org/wikipedia/commons/e/e7/GDP_real_growth_rate_CIA_Factbook.PNG View on Boundless.com
Outsourcing
Outsourcing is the process of contracting an existing business process to an independent organization. The process is purchased as a service.
EQOD. "Business Outsourcing Services." CC BY http://www.eqod.com/business_outsourcing.html View on Boundless.com
Contract Manufacturing
Ness Corporation is a contract manufacturer in Seven Hills, Australia.
Wikimedia Foundation. CC BY-SA http://wikimediafoundation.org/wiki/File:Ness_Corporation_Manufacture.jpg View on Boundless.com
Hofstede's Cultural Dimensions Theory Example
Justin Paulsen. "Original figure by Justin Paulsen. Licensed CC BY-SA 3.0." CC BY-SA 3.0 View on Boundless.com
APEC member countries

APEC's member countries border both the east and the west of the Pacific Ocean.
Wikimedia. "APEC members 180E." Public domain http://commons.wikimedia.org/wiki/File:APEC_members_180E.svg View on Boundless.com
Worldwide Offshoring Business

The worldwide offshoring business is projected to equal $500 billion by 2020.
Wikimedia Foundation. "File:Worldwide-Offshoring-Business.JPG - Wikimedia Foundation." CC BY-SA http://wikimediafoundation.org/wiki/File:Worldwide-
Offshoring-Business.JPG View on Boundless.com
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.
Flickr. "WTO protests 10 | Flickr - Photo Sharing!." License: Other http://www.flickr.com/photos/djbones/125523970/ View on Boundless.com
Ford
Ford is a multinational corporation with operations throughout the world.
Wikimedia Foundation. "File:Ford logo.svg - Wikimedia Foundation." CC BY-SA http://wikimediafoundation.org/wiki/File:Ford_logo.svg View on Boundless.com
Licensing
The 1933 Fiat 508 was manufactured under a license in Poland by Polski Fiat.
Wikipedia. "1024px-MHV_Polski-Fiat_508_1933_01.JPG." CC BY 3.0 https://en.wikipedia.org/wiki/Licensed_production#/media/File:MHV_Polski-
Fiat_508_1933_01.JPG View on Boundless.com
Korea International Trade Association

KITA attempts to protect South Korean producers while finding international export markets.
Wikimedia. "KITAlogo." CC BY-SA http://commons.wikimedia.org/wiki/File:KITAlogo.jpg View on Boundless.com
Starbucks' Expansion
Starbucks operates with a wide variety of strategic alliances, including a franchising program.
Wikimedia. "Starbucks_stores_graph.png." CC BY-SA 3.0 https://upload.wikimedia.org/wikipedia/commons/a/ab/Starbucks_stores_graph.png View on
Boundless.com
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.
Wikipedia. "Gdp accumulated change." GNU FDL http://en.wikipedia.org/wiki/File:Gdp_accumulated_change.png View on Boundless.com
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.
Wikimedia. CC BY-SA http://upload.wikimedia.org/wikipedia/commons/7/79/Top_five_largest_economies_in_2050.jpg View on Boundless.com
Energy Consumption Estimates (1970 - 2025)

This chart shows the exponential growth in energy consumption that is caused by globalization.
Wikimedia. CC BY http://upload.wikimedia.org/wikipedia/commons/2/2e/World_energy_consumption,_1970-2025,_EIA.png View on Boundless.com
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.
Wikimedia. CC BY-SA http://upload.wikimedia.org/wikipedia/commons/1/10/US_GDP_per_capita.PNG View on Boundless.com
Attribution
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International Trade Barriers

International Trade Agreements & Organizations

Types of International Business