Global Business Defined Copyright © Texas Education Agency, All Rights Reserved.

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3 Purpose of Assignment SWBAT (Student Will Be Able To)  Define global business.  Describe the position of the United States in global trade.  Identify advantages and problem areas for United States firms wanting to enter global business. Copyright © Texas Education Agency, All Rights Reserved.

4 Need to Know Terms Chapters 1 and 2  Culture  Domestic Business  Exports  Global Dependency  Imports  International Business  Trade Barriers  Absolute Advantage  Balance of Trade  Comparative Advantage  Consumer Price Index (CPI)  Economics  Economic System  Factors of Production  Foreign Debt  Gross Domestic Product (GDP)  Gross National Product (GNP)  Infrastructure  Privatization  Scarcity  Supply Copyright © Texas Education Agency, All Rights Reserved.

5 Need to Know Terms Chapters 3 and 4  Body Language  Class System  Collectivism  Cultural Baggage  Culture Shock  Ethnocentrism  Extended Family  Individualism  Nonverbal Communication  Nuclear Family  Subculture  Boycott  Common Market  Democracy  Economic Nationalism  Expropriation  Free Trade Agreement  Free Trade Zone  Home Country  Host Country  MFN Status  Political System  Protectionism  Quota  Tax Holiday  Trade Embargo Copyright © Texas Education Agency, All Rights Reserved.

6 Discovery  What kinds of things do you like to spend your money on?  What kinds of things do you have to spend your money on?  What kind of product is it…a good or a service?  Do you know who provides that good or service?  Do you know where it comes from (what country)? Copyright © Texas Education Agency, All Rights Reserved.

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8 Notes/Lecture/Discussion Chapter 1-We Live in a Global Economy  What is international business?  Why is it important?  What are the fundamentals of international trade?  What does the international business environment look like?  What are some business skills needed to thrive in international business?  What does international business look like to a citizen, a worker, and a consumer? Copyright © Texas Education Agency, All Rights Reserved.

9 Notes/Lecture/Discussion Chapter 2-Our Global Economy  What is the basic economic problem?  What role does the basic decision-making process play in global business?  How does price affect global business?  What are economic resources?  Why are economic resources important to global business? Copyright © Texas Education Agency, All Rights Reserved.

10 Notes/Lecture/Discussion Chapter 3-Cultural Influences on Global Business  Does a country’s cultural influences affect global business? If so, how?  What are some different types of cultural influences?  Subcultures  Variations in business subcultures  Family relationships  Society’s institutions  Language differences  Direct and indirect communication  Values among cultures  How do cultural influences affect global business? Copyright © Texas Education Agency, All Rights Reserved.

11 Notes/Lecture/Discussion Chapter 4-Government and Global Business  Does politics affect global business? If so, how?  How does government discourage global business?  Worker and consumer laws  Trade barriers  Trade sanctions  Expropriation  Economic nationalism  Civil unrest or war  International taxes  How does government encourage global business?  Government protection  Tax incentives Copyright © Texas Education Agency, All Rights Reserved.

12 Review  Can you define international business and its importance?  Can you explain the position of the United States in Global Trade by identifying how we encourage and discourage global business?  Can you identify the advantages and problem areas for the United States firms wanting to enter global business? Copyright © Texas Education Agency, All Rights Reserved.

13 Extensions  Chapter 1 Extensions  What actions might a country take to encourage other countries to buy its goods and services?  Describe some laws in foreign countries that are different from those in the United States  Chapter 2 Extensions  How can a nation create an absolute advantage through its investment activities?  Select one or more economic statistics for several countries (5). Prepare a graph comparing these data.  Chapter 3 Extensions  How long do you think it would take you to learn to communicate in a foreign language like a native speaker does?  Use the Internet to research methods of nonverbal communication and their uses in business situations around the world.  Chapter 4 Extensions  How does a common-market agreement benefit citizens of a member country?  Locate a website for your state department of commerce and find out what tax and financial incentives are available to attract foreign companies to invest in your state. Copyright © Texas Education Agency, All Rights Reserved.

14 Formal Assessment Rubric Copyright © Texas Education Agency, All Rights Reserved.