Mizzou MANGMT 3000 - Globalization (4 pages)

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Lecture number:
Lecture Note
University of Missouri
Mangmt 3000 - Principles of Management

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MANGMT 3000 1st Edition Lecture 6 Outline of Last Lecture I Goals II Plans III MBO Outline of Current Lecture I Globalization Current Lecture Globalization Trend of the world economy toward becoming a more interdependent system Global village the shrinking of time and space as air travel and the electronic media have made it much easier for the people of the globe to communicate with one another E commerce buying and selling of products and services through computer networks U S retail e commerce sales were estimated at 48 2 billion in the third quarter of 2011 Global economy increasing tendency of the economies of the world to interact with one another as one market instead of many national markets Positive effects more markets for American exports Negative effects vast surplus funds form global investments flowed into US that were invested badly in subprime mortgages Minifirms operating worldwide Small companies can get started more easily Small companies can maneuver faster Megafirms large cross borders Industries ill suited for small medium size oil telecommunications These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Why learn about international management Multinational corporation business firm with operations in several countries Multinational organization nonprofit org with operations in several countries You may deal with foreign customers or partners You may deal with foreign employees or suppliers You may work for a foreign firm in the US You may work for an American firm outside the US or a foreign one Ethnocentric managers believer that their native country culture language and behavior are superior to all others Parochialism narrow view in which people see things solely through their own perspective Polycentric manager take the view that native managers in the foreign offices best understand native personnel and practices and so the home office should

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