Business Management Globalization

Today’s Objectives Describe the effect of a global marketplace on business, including Changes in American business operations Basic business concerns & variables in business competition

Globalization The worldwide movement toward _______, ________, ____, and ________ _________ Implies that we are more interconnected and interdependent

What does it mean for business? Emphasis on the transfer of _____, ______, and _______ across national frontiers

Here in the United States… You could purchase _______ goods that are products made by firms in the United States. You could purchase _______ goods that are products made by firms in other countries.

BINGO! How much of what you’re wearing is really Made in America? http://abcnews.go.com/Business/MadeInAmerica/made-america-clothes-clothing-made-usa/story?id=13108258

Think About It Why do we seem to have more foreign goods from some countries over others?

Trade Agreements Free-trade agreements are ___________ agreements that ______ almost all _____ _________and subsidies between individual _______ and groups of countries. http://export.gov/fta/index.asp

This helps with… Importing – _____ goods or services made in a ______ country Exporting – when a company ____ its goods and services to a _______ country http://www.census.gov/foreign-trade/statistics/product/enduse/imports/c3010.html#questions   http://www.econedlink.org/lessons/docs_lessons/400_imports1.pdf

Think About It Does the United States typically import or export more goods? ** balance of trade ** deficit

Effect on American Businesses More e-commerce _________________ Decrease of ___________ jobs Rapid growth of _________ jobs

Businesses are concerned with… ________ costs Product _______ _______ quality _____ volume _____ margins These variables are important to being competitive in the business market.