Unit 4 Course Materials

Welcome to Unit 4: Global Business. This week we will learn about why it matters for organizations to think beyond the confines of their local customer base and market their products and services more broadly. We’ll also examine the challenges that arise from global expansion, and how organizations and marketers need to be sensitive to cultural differences across country borders.

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 these Open Educational Resources (free to access): 

2. 2. Watch this Crash Course in Globalization on YouTube (embedded below)3

3. Watch this video4 (also embedded below) about how cultural differences across country lines may affect an organization’s decision to expand globally.

As always, if you need more information, you can ask me a question. For information on due dates, check our Course Schedule.

Sources:

1CC LICENSED CONTENT, ORIGINAL Why It Matters: Global Environment. Authored by: Linda Williams and Lumen Learning. License: CC BY: Attribution

2“Human Resource Management” by eLearning Support Initiative, University of Minnesota Libraries Publishing is licensed under CC BY-NC-SA 4.0

3Explainer on YouTube (Globalization easily explained explainity® explainer video): https://www.youtube.com/watch?v=QXN_jl2abEE

4Knovva Academy on YouTube: https://youtu.be/78haKZhEqcg