Globalization Market Globalization

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  1. Globalization - the shift toward a more integrated and interdependent world economy

  2. The world is moving away from self-contained national economies toward an interdependent, integrated global economic system


  • Market Globalization.

Decline in barriers

Easier enter a foreign market

Global product

  • Production Globalization

Gain advantage from price differences in different nations

Less cost of produce, low price

Jobs shift from one country to another country

  • Historically distinct and separate national markets are merging

  • It no longer makes sense to talk about the “German market” or the “American market”

  • Instead, there is the “global market”

    • falling trade barriers make it easier to sell globally

    • consumers’ tastes and preferences are converging on some global norm

    • firms promote the trend by offering the same basic products worldwide

  • Firms of all sizes benefit and contribute to the globalization of markets

    • 97% of all U.S. exporters have less than 500 employees

    • 98% of all small and mid-sized German companies participate in international markets

  • Firms source goods and services from locations around the globe to capitalize on national differences in the cost and quality of factors of production like:

    • land,

    • labor,

    • energy,

    • capital

  • 3 Companies can

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