Welcome to Unit 3: Global Business Environment! In this unit, we will describe the characteristics, opportunities, and challenges of the global business environment and how organizations must be sensitive to cultural differences as they expand operations across country borders. We will examine why the US does considerable business with other countries, and identify the advantages and disadvantages of going global and outsourcing/offshoring. We will discuss how global trade is measured and learn how to identify and describe forces that affect global trade.
By the end of this unit, you should be able to:
- Explain the concept of globalization and its impact on global business
- Differentiate between comparative and absolute advantage
- Explain the roles of absolute and comparative advantage in global business
In order to successfully complete this unit, you’ll need to do the following:
1. Read this Open Educational Resource (free to access): Module 3: Global Environment¹
2. Watch this Crash Course in Globalization on YouTube (embedded below)2
3. Watch the full feature film “The Founder” about the establishment of a restaurant chain we all know — McDonald’s! This is available for free through Swank, a service through the BMCC Library. You will need to sign in with your BMCC credentials to access this film. If you don’t know your credentials, you can visit this link to learn more about how to reset your password.
4. Complete our Unit 3 Assignment. You can find more details here.
As always, if you need more information, you can ask me a question. For information on due dates, check our Course Schedule.
Sources:
1Why It Matters: Role of Business. Authored by: Linda Williams and Lumen Learning. License: CC BY: Attribution
2Explainer on YouTube (Globalization easily explained explainity® explainer video): https://www.youtube.com/watch?v=QXN_jl2abEE
