Q3 a) Describe the factors that have contributed to globalization of the business? b) Free market economy stimulates greater economic growth, whereas state-directed economies stifle growth. Discuss the validity of this statement.

Q3 a) Describe the factors that have contributed to globalization of the business? b) Free market economy stimulates greater economic growth, whereas state-directed economies stifle growth. Discuss the validity of this statement.

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter6: International Management

Section6.7: The Necessity Of Global Markets

Problem 1DQ: Why did McDonalds choose to use strategic alliances to enter India? Why not use exporting or other...

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Concept explainers

Global supply chain management

Global supply chain management is a broad term that covers all aspects of a product's lifespan, from conception through distribution to consumers. The study of planning how goods and services will get from producer to consumer is known as global supply chain management (GSCM). The supply chain, as the name implies, is a group of network functions, organizations, and personnel. It begins with those who produce and supply raw materials or components to manufacturers, continues with logistics services that carry finished goods to warehouses and distribution centers, and ends with wholesalers and retailers purchasing the goods.

Question

Q3 a) Describe the factors that have contributed to globalization of the business?

b) Free market economy stimulates greater economic growth, whereas state-directed economies stifle growth. Discuss the validity of this statement.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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