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- Theory of Absolute AdvantageTheory of Absolute Advantage (Adam smith theory) Regarded as first formal theory in int’l trade Country’s wealth is based on its available goods/ services rather than gold Prescribes country to specialize in that product That give it competitive advantage. Advantage can be Natural/ Acquired. Natural adv. Considers climate and natural resources Acquired adv. Considers technology/Continue reading “Theory of Absolute Advantage”
- Positive affirmations
- Functional Area of International BusinessFunctional area of IB Global Production/ Operations mgmt. Global Prodn. / mfg. Outsourcing. Benefits of Outsourcing. Risks/ Challenges of Outsourcing/ Global Sourcing Logistics Managing global supply chain. Total Quality Mgmt. Quality circle. Six Sigma. Inventory Mgmt. Just In Time (JIT). Foreign Trade Zones (FTZs) Transport mgmt. Concept of Global marketing/ Marketing Strategy. GLOBAL MARKETING. GLOBALContinue reading “Functional Area of International Business”