Bus. Mang. Ch 4 Flashcards
(5 cards)
0
Q
Global village
A
Shrinking of time and space as air travel and electronic media have made it easier for the people of the globe to communicate with one another
1
Q
Globalization
A
The trend of the world economy toward becoming a more interdependent system
2
Q
Global economy
A
Increasing tendency of the economies of the world to interact with one another as one market instead of many national markets
3
Q
Licensing
A
A company allows a foreign company to pay it a fee to make or distribute the first company’s product or service
4
Q
Franchising
A
A form of licensing in which a company allows a foreign company to pay it AC and a share of the profit in return for using the first company’s brand name and a package of materials and services
