January 2019
Intermediate to advanced
576 pages
33h 19m
English
2.5 Understand the firm-level consequences of market globalization.
The most direct consequence of market globalization is on the firm’s value chain. Globalization compels firms to organize their sourcing, manufacturing, marketing, and other value-adding activities on a global scale to achieve cost advantages and time efficiencies. In a typical value chain, the firm conducts research and product development (R&D), purchases production inputs, and assembles or manufactures a product or service. Next, the firm performs marketing activities such as pricing, promotion, and selling, followed by distribution of the product in targeted markets and after-sales ...