About This Chapter
The Changing Global Business Environment - Chapter Summary
Enjoy exclusive access to lessons that can help you better understand the changing global business environment. Top instructors have developed entertaining lessons you can review as often as needed to gain greater insight into the history of capitalism and free trade. Lessons also explore the impact of international companies developing and maintaining business relationships. Once you've reviewed lessons in this chapter, you will be ready to:
- Define tariffs, and explain the pros and cons of free trade
- Share the history, purpose and members of GATT
- Describe globalization, capitalism and free trade since 1990
- Provide the definitions and history of NAFTA and CAFTA
- Explain the impact globalization has on organizational culture
- Discuss the effects of culture and society on global business
- Give details about Hofstede's cultural dimensions theory
- Detail what it takes to be a manager in an international company
Use the resources in this chapter to make it easy to understand the changing global business environment. Lessons are accessible any time and in any sequence you desire. Review them as often as you'd like until you understand the concepts they examine. Any time, feel free to test your knowledge of the lessons by taking short quizzes. If you have questions about chapter concepts, don't hesitate to submit them to our experts.
1. What Are Tariffs? - Overview
Nations have an inherent interest in protecting their own producers from foreign competitors. In this lesson, you'll learn how tariffs accomplish that, as well as some of the economic and political implications of tariffs.
2. What is Free Trade? - Definition, Pros, Cons & Examples
There are advantages and disadvantages to free trade, which refers to the importing and exporting of goods between countries without restrictions. Learn the definition of free trade, and examine the pros and cons of free trade with examples of each.
3. GATT: Definition, History, Purpose & Members
The General Agreement on Tariffs and Trade (GATT) is a legal agreement made between many different countries in 1947 to promote international trade by eliminating barriers. Learn more about the definition of GATT, its history and purpose, the GATT member countries, and explore the impact of the trade agreement known as the World Trade Organization since 1994.
4. Globalization, Capitalism & Free Trade since 1990
Globalization, the exchange of goods worldwide, has been a staple for free trade development since 1990. Learn how different organizations have contributed to globalization with capitalism, and the effects of their economic decisions.
5. What Is NAFTA? - Definition, Effects & History
NAFTA stands for the North American Free Trade Agreement and was designed to eliminate all tariffs between the United States and Mexico. Explore the definition of NAFTA, the effects or implications of NAFTA, and the history and criticisms of NAFTA.
6. What Is CAFTA? - Definition, History & Effects on Globalization
This lesson will provide an overview of the Central American Free Trade Agreement, its history, and its effect on globalization among participating countries.
7. Globalization and Organizational Culture
The culture of organizations is heavily influenced by national culture, which is impacted by aspects of globalization. Learn about Hofstede's cultural dimensions of Power Distance, Individualism versus Collectivism, Masculinity versus Feminity, Uncertainty Avoidance and Long-term versus Short-term Orientation, and about how transporting business culture contributes to the globalization that influences organizational culture.
8. Effects of Society & Culture on Global Business
The effects of society and culture have an impact on global business due to globalization that increases the visibility of different communities throughout the world. Learn about the market environment and cultural challenges that affect global markets.
9. Hofstede's Cultural Dimensions Theory
As culture influences societal norms and practices, so does it influence business interactions, especially between those from different cultures. Explore Hofstede's cultural dimensions theory and how it applies to international business.
10. Managing in International Companies
To ensure the greatest success, managers of international companies must consider the various aspects of each market in which their companies operate. Explore the main five factors of managing in international companies.
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Other chapters within the CM Foundations of Management Exam Study Guide - Certified Manager course
- Fundamentals of Management
- Management in Today's World
- Managing in a Global Market
- Leadership vs. Management
- Influential Leaders in Management
- Business Ethics & Stakeholders
- Organizational Social Responsibility
- Conducting Business in a Global Environment
- Managing for Sustainability
- Management Actions for Sustainability
- Communication & Management
- Technology & Communication in Business
- Communication Skills for Managers
- Making Business Decisions
- Use of Technology in Business
- Business Laws & Regulations
- Fair & Competitive Business Practices
- Insurance & Risk Management
- Business Economics & Free Markets
- Indicators of a Healthy Economy
- Monetary & Fiscal Policy
- CM Foundations of Management Exam Study Guide - Certified Manager Flashcards