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Competing In A Global Context (1. A GLOBAL VILLAGE (AIMS OF GLOBAL TRADE,…

- - - - Makes sense of events and ideas
      - Guides decision making
      - Internally and externally understanding risks and possibilities
      - Applying knowledge
    - - Among countries
        
        Align differentiators
        
        Support comparative advantages
      - Among organisations
        
        Identify strengths and weaknesses
        
        Evaluate Suppliers, Buyers, Rivalry
      - Assess Dynamics: The diamond model The 5 forces
- - - - Challenges global and local cultures
      - Opportunity to respond quickly to idea
    - - Opt for own way of doing things
      - Products apply to more segmented groups
      - Opportunity to innovate but can miss out on converged innovations
    - - Follow same practices as others
      - Embrace common values
      - Adapt to local norms
      - Products apply to the masses
- - - - Fluctuations
      - Market forces of supply and demand
      - Affects costs of imports and exports
      - See equilibriam and fair trade
    - - Transfer Pricing = Fair trade
      - Mis-Pricing, Tax Avoidance = Unfair Trade
    - - Foreign Direct Investments
      - Portfolio Investements
    - - All needs to balance, current, capital and financial
      - Imbalances causes country deficits
    - - International Rules
      - Specific Country rules
      - Gives overview of economic state
      - Data for investors and stakeholders
    - - IASC International Accounting Standards
      - IFRS Standards
      - For Transparency, Accountability, Efficiency