Globalization & International Business
- Offshoring: Relocating business processes to a different country, often to reduce costs.
- Global Supply Chain: A network of a firm’s outsourcing suppliers and contractors, which may involve operations spread across multiple countries.
- Localization: The adaptation of a product or service to meet the needs of a particular language, culture, or desired population’s “look-and-feel.”
- Protectionism: Government actions and policies that restrict or restrain international trade to protect local businesses and jobs.
- Trade Barriers: Government-imposed policies to control foreign trade and bolster domestic businesses, such as tariffs and quotas.
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