About This Chapter
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
|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.|
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. 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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Other chapters within the Business 100: Intro to Business course
- The Dynamic Business Environment
- Practicing Social Responsibility and Ethical Behavior in Business
- Economics and Business
- Forms of Business Ownership
- Entrepreneurship and Small Business
- Managing and Leading in Business
- Leadership Styles in Business
- Organizational Management
- Business Production and Operations
- Workplace Productivity & Motivation
- Basics of Human Resources
- Managing the Employer-Worker Relationship
- Business Marketing Basics
- Product Development and Retailing
- Product Distribution & Supply Chain Management
- Pricing Strategy in Marketing
- Product Promotion in Business
- MIS Basics in Business
- Implications of Information Technology
- Risk Management in Business
- Accounting Basics
- Financial Management in Business
- Securities Markets and Business
- Money and Financial Institutions
- Studying for Business 100