What you’ll learn to do: describe current trends in global business

Many people don’t understand the extent to which globalization influences their daily lives. Do you want an ice cream cone to cool off? Ben & Jerry’s is now owned by a Dutch and British firm. Brewing a nice cup of tea for an afternoon pick-me-up? Tata Group of India owns the Tetley Tea Company. Putting on your Nike running shoes for an early morning jog? Most Nike products are produced in China. There are very few large businesses today who can say they are “100 percent American owned and operated.”

This section looks at how politics and economics affect business globalization and the factors that influence global competition. It will also examine the role of global supply chains in reducing costs and the need for innovation in the rapidly changing world of business.