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Ch 4: Business in Global Markets

About This Chapter

Use these online videos to learn about the importance of global trade and strategies for doing business in the global market. Each lesson is accompanied by a short multiple-choice quiz you can use to check your understanding of these business topics.

Business in Global Markets - Chapter Summary and Learning Objectives

This chapter's lessons cover the strategies and concepts related to success as a manager in international business. Instructors define key terms, such as balance of trade and dumping, and explain strategies used to reach global markets. You will look at the forces that affect global trade. The lessons in the chapter should give you an understanding of topics that include:

  • Offshore outsourcing and its role in the changing global market
  • The role of multi-national corporations in the global market
  • The advantages of global trade

Video Objective
The Importance of the Global Market and Global Trade: Role & Advantages Recall the reasons why the global market is important and the roles of comparative and absolute advantage.
Importing and Exporting in a Global Market: Definition, Process & Importance Explain the importance of importing and exporting; define key terms, including balance of trade, trade deficit and balance of payments.
Strategies for Reaching Global Markets: Examples & Quiz Identify the strategies used to reach global markets, such as franchising, licensing and exporting.
Forces that Affect Trade in Global Markets Analyze the forces that affect trading in global markets.
The Changing Landscape of the Global Market Describe the changes in the global marketplace.

5 Lessons in Chapter 4: Business in Global Markets
The Importance of the Global Market and Global Trade: Role & Advantages

1. The Importance of the Global Market and Global Trade: Role & Advantages

We all need resources, products and service to live and thrive. Sometimes these things are not readily available locally. In this lesson, you'll learn about the importance of international trade and globalization in fulfilling our needs and wants.

Importing and Exporting in a Global Market: Definition, Process & Importance

2. Importing and Exporting in a Global Market: Definition, Process & Importance

The lifeblood of the global market is trade. In this lesson, you'll learn about the importance of importing and exporting and related concepts including trade deficits, balance of payments, and formal and informal barriers to trade.

Strategies for Reaching Global Markets: Examples & Types

3. Strategies for Reaching Global Markets: Examples & Types

In 2013, the global market had over seven billion potential consumers with needs and wants to be fulfilled. In this lesson, you'll learn about strategies businesses can use to tap this immense market.

Forces that Affect Trade in Global Markets

4. Forces that Affect Trade in Global Markets

The global marketplace is diverse. While diversity provides opportunity, it also provides challenges. In this lesson, you'll learn about the forces that affect trade in the global market. You'll also have a chance to take a short quiz after the lesson.

The Changing Landscape of the Global Market

5. The Changing Landscape of the Global Market

The global market is still developing, and a market that is developing is dynamic. The constant change offers opportunities and presents risks to countries and their domestic industries. In this lesson, you'll learn about some of these risks and opportunities.

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