Samenvatting van de lessen International trade in het 2e jaar Bedrijfsmanagement. Het vak International Trade die ik heb gevolgd zijn gegeven door meneer Bolleire en meneer Van Beveren. Deze lessen en het examen zijn in het engels gegeven, dus het volledige document is ook samengevat in het engels.
LESSEN MR. BOLLEIRE ................................................................................................ 8
0. CHAPTER 1: GLOBAL MARKETING ................................................................................... 8
1. International business ............................................................................................................................. 8
1.1. Views on international business............................................................................................................ 8
2. Globalization vs. localization ................................................................................................................. 10
2.1. Glocalization ........................................................................................................................................ 10
3. The global marketing concept................................................................................................................ 13
3.1. Global marketing: definition ............................................................................................................... 13
1. CHAPTER 2: INTERNATIONALIZATION IN THE FIRM ........................................................ 14
1. Should we internationalize? .................................................................................................................. 14
1.1. Should we internationalize? Depends on 2 crucial dimensions ......................................................... 14
1. SME’s vs LSE’s ........................................................................................................................................ 18
2. A model for international selection ....................................................................................................... 19
2.1. Determinants for the selection of foreign markets ............................................................................. 19
3. Socio-cultural factors ............................................................................................................................. 32
3.1. What is culture .................................................................................................................................... 32
3.2. Classification of culture ....................................................................................................................... 32
3.3. Levels of culture .................................................................................................................................. 35
3.4. Elements of culture to be researched ................................................................................................. 36
3. Investment modes ................................................................................................................................. 51
3.1. Acquisition or Greenfield?................................................................................................................... 52
6. CHAPTER 7 – ADAPTING THE MARKETING MIX ............................................................. 53
1. Place (distribution) ................................................................................................................................ 53
1.1. Determinants of channel decisions ..................................................................................................... 53
1.2. Structure of the channel ..................................................................................................................... 54
1.3. Managing distribution channels .......................................................................................................... 56
3. Price ...................................................................................................................................................... 62
3.1. International vs. domestic pricing ....................................................................................................... 62
3.2. Factors influencing pricing .................................................................................................................. 62
3.3. International pricing strategies ........................................................................................................... 64
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, 3.4. Product line pricing ............................................................................................................................. 65
4. Promotion ............................................................................................................................................. 67
4.1. standardization vs localization ............................................................................................................ 67
4.2. The product-communication mix ........................................................................................................ 68
4.3. Factors influencing communication .................................................................................................... 69
4.4. Communication tools .......................................................................................................................... 70
LESSEN MR. VAN BEVEREN ...................................................................................... 72
7. CHAPTER 1 – INTRODUCTION TO INTERNATIONAL TRADE ............................................. 72
1.1. Remark 1 ............................................................................................................................................. 72
1.2. Remark 2: can we maintain growth in a sustainable way?.................................................................. 73
1.3. Remark 3: since ca. 2016, we see a renewed increase in protectionism ............................................ 74
2. Why international trade? ...................................................................................................................... 75
2.1. Again, why international trade? .......................................................................................................... 76
3. World Trade ........................................................................................................................................... 77
4. Belgium’s status..................................................................................................................................... 79
4.1. Reasons for choosing an open economy ............................................................................................. 79
1. What is globalization? ........................................................................................................................... 81
2. Drivers of globalization .......................................................................................................................... 82
2.1. Declining Trade and Investment Barriers ............................................................................................ 82
2.2. Role of technological change .............................................................................................................. 82
3. Trade policies & agreements ................................................................................................................. 83
3.1. The 6 main instruments of trade policy .............................................................................................. 83
4. The emergence of Global Institutions .................................................................................................... 84
9. CHAPTER 3 – STRATEGY OF INTERNATIONAL BUSINESS ................................................. 86
1. Strategy and the firm ............................................................................................................................. 86
2. Cost pressures & pressures for local responsiveness.............................................................................. 87
3. Choosing a strategy ............................................................................................................................... 88
3.1. Global standardization strategy .......................................................................................................... 89
3.2. Localization strategy ............................................................................................................................ 90
3.3. Transnational strategy ......................................................................................................................... 90
3.4. International strategy .......................................................................................................................... 90
3.5. The evolution of strategy .................................................................................................................... 90
10. CHAPTER 4 – MANAGING THE SUPPLY CHAIN ............................................................ 91
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