About This Chapter
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Topics from your homework you'll be able to complete:
- Importance of global markets
- Strategies for reaching global markets
- Forces that affect trade
- Hofstede's theory
- Regional integration
- Trade protectionism
- Characteristics of international managers
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.
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.
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.
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.
5. Hofstede's Cultural Dimensions Theory
Dimensions of culture are an important aspect of international business. Knowing how cultures view different aspects of business can help a manager navigate through the international business market.
6. Regional Integration: Definition, Influence & Purpose
Regional integration is when a group of countries get together and develop a formal agreement regarding how they will conduct trade with each other. There are many different levels of involvement, and in this lesson, we will review the types and how a manager should understand and match them to his or her company's international needs.
7. Advantages and Disadvantages of Trade Protectionism
Countries want to win the game of international trade by exporting more than they import. Some countries pursue trade protectionism to do this. In this lesson, you'll learn about the advantages and disadvantages of this strategy and related concepts.
8. 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.
9. Characteristics of the International Manager in Global Organizations
Managers need to be able to plan, control, organize, and lead their companies and departments. When we look at international business, there are some additional aspects that come into play for a manager to be successful.
10. What Is Globalization of Business? - Definition, Impact & Effects
What is globalization of business? In this lesson we'll discuss what it is, its impact on the global marketplace, and the effects of globalization on businesses worldwide.
11. Strategic Alliance in Business: Definition, Advantages & Disadvantages
Businesses create strategic alliances for different reasons. In this lesson, you'll learn what a strategic alliance is and explore its advantages and disadvantages. You'll also have a chance to take a short quiz after the lesson.
12. Domestic Environment in Business: Definition & Overview
Owning a business means you must decide if you want to enter international markets. This lesson reviews the domestic environment in business. You will see the advantages and disadvantages, as well as how it compares to the international environment.
13. Global Mindset in Business: Definition & Concept
In this lesson, we will cover the meaning of global mindset and how it can affect businesses around the world. Test your knowledge at the end by taking a short quiz.
14. Global Perspective of Management: Definition & Concept
Today's fast-paced, Internet-driven business environment calls for more than just a local perspective of management. Highly effective managers need to see things based on how their company functions in the big picture of the new global economy.
15. Global Standardization in Marketing: Definition & Strategy
In this lesson we will discuss global standardization. We will look at the pros and cons as well as examples of businesses that can, and cannot, use global standardization.
16. Global Strategy: Definition & Example
This lesson provides an overview of how companies transition from an international company to a global company using global strategy. We will use McDonald's, the largest food service retailer in the world, to demonstrate how and why global strategy is used.
17. International Market: Definition & Explanation
If you've sold a product on E-bay outside the United States, you sold your product in an international market. In this lesson, you'll learn what an international market is and explore some of its key concepts.
18. Trade Agreements: Definition & Effects
A country's economy can benefit from both importing and exporting goods. In this lesson you'll learn how countries use trade agreements to coordinate the exchange of goods between producers and consumers in both markets.
19. Trade Creation: Definition & Effect
In this lesson, we will look at trade creation. We will define the term, discuss how the process works and look at the concept in terms of real-life trade transactions before concluding with a summary and a quiz.
20. Trade Deficit: Definition, Benefits & Effects
In this lesson we will explore trade deficit. Specifically, we will define the term and discuss the benefits and effects. The lesson will then conclude with a summary and quiz.
21. Trade Discount: Definition & Formula
This lesson discusses the benefits of trade discounts. We will define the term, look at a few examples of trade discounts and explore how to calculate trade discount.
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