Intro to global business
Global business
What is global business?
Ability to conduct value-adding activities on a global scale in business
Why is global business important?
Expand markets and customers
Reduce costs
Become more competitive
Increase sales
global Industry examples
Engineering
entertainment
retail
Banking
Transportation
clothing
Nature of global business
Value-adding activities
Sourcing
buying the raw materials or components that go into a company’s products from around the world
Manufacturing
Buying manufactured components, sub-assemblies, and finished products
Marketing
Application of marketing principles to satisfy varied needs and wants of different people residing around the world
Subjects of global trade
Products
Services
labor
Technology
Knowledge
activity
Take 15 minutes to search amongst your peers nearby to find an example of a global company and tell us why you chose this company and what they do on a global scale
CONTINUED READING
Read chapter 1 on your own time
