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Topic 5

Global Business

The focus of this topic is to examine the implications of globalisation on business structure, functions and management.

Outcomes:

The student:

H1.1    explains the impact of the global business environment on business role and structure

H1.2    critically analyses the role of business in Australia

H2.1    describes and analyses business functions and operations and their impact on business success

H2.2    evaluates processes and operations in global business

H3.2    evaluates the effectiveness of management in the organisation and operations of business and its responsiveness to change

H3.3    analyses the impact of management decision-making on stakeholders

H4.1    critically analyses the social and ethical responsibilities of management

H4.2    evaluates management strategies in response to internal and external factors

H5.1    selects, organises and evaluates information and sources for usefulness and reliability

H5.2    plans and conducts an investigation into business to present the findings in an appropriate business format

H5.3    communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms

Chapters:

19: Globalisation

20: Global business strategy 

21: Specific influences on global business

22: Managing global business

23: Management responsibility in a global environment

Terminology:

Chapter 19: Globalisation

  1. Global economy
  2. Globalisation
  3. Globalisation of markets
  4. Globalisation of production
  5. Merchandise exports
  6. Transnational corporation
  7. Tariff
  8. APEC
  9. Deregulation
  10. FDI
  11. Flow of FDI

Chapter 20: Global business strategy

  1. Exporting
  2. Indirect exporting
  3. Direct exporting
  4. Trading company
  5. Intracorporate exporting
  6. Greenfield strategy
  7. Acquisition strategy
  8. Joint venture
  9. Relocation of production
  10. Management contract
  11. Licensing
  12. Franchising
  13. Diversification
  14. Economies of scale
  15. Regulations
  16. Tax holiday
  17. Tax haven

Chapter 21: Specific influences on global business

  1. Foreign exchange market
  2. Foreign exchange rate
  3. depreciation
  4. Political risk
  5. Protectionism
  6. World trade organisation
  7. Trade agreement
  8. Economic community/trading bloc
  9. Regional economic integration
  10. Legal system
  11. Bureaucratic law
  12. Contract
  13. Common law
  14. Civil law
  15. Mediation
  16. Arbitration
  17. Intellectual property
  18. Patent
  19. Trademark
  20. Copyright
  21. Social and cultural characteristics
  22. Ethnocentricity
  23. Non-verbal communication

Chapter 22: Managing global business

  1. Payment in advance
  2. Letter of credit
  3. Clean payment
  4. Bill of exchange
  5. Open credit
  6. Spot exchange rate
  7. Hedging
  8. Derivatives
  9. Forward exchange contract
  10. Option
  11. Currency swap
  12. Eurocurrency
  13. Global branding
  14. Standardised approach
  15. Differentiated approach
  16. Sourcing decisions
  17. Outsourcing
  18. Vertical integration
  19. Global web
  20. Staffing
  21. Expatriate
  22. Staffing system
  23. Ethnocentric approach
  24. Polycentric approach
  25. Geocentric approach

Chapter 23: Management responsibility in a global environment

  1. Triple bottom line
  2. Tax haven
  3. Transfer pricing
  4. Labour standards

 

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