LEARNING OBJECTIVES: 1. Describe the process of globalization and how it affects markets and production. 2. Identify the two forces causing globalization to increase. 3. Summarize the evidence for each main argument in the globalization debate. 4. Identify the types of companies that participate in international business. 5. Describe the global business environment and identify its four main elements. CHAPTER OUTLINE: Introduction International Business Involves Us All Technology Makes It Possible Global Talent Makes It Happen Globalization Globalization of Markets Reduces Marketing Costs Creates New Market Opportunities Levels Uneven Income Streams Yet Local Needs Are Important Globalization of Production Access Lower-Cost Workers Access Technical Expertise Access Production Inputs Forces Driving Globalization Falling Barriers to Trade and Investment World Trade Organization Regional Trade Agreements Trade and National Output Technological Innovation E-mail and Videoconferencing Internet and World Wide Web Company Intranets and Extranets Advancements in Transportation Technologies Measuring Globalization Untangling the Globalization Debate Today’s Globalization in Context Introduction to the Debate Globalization’s Impact on Jobs and Wages Against Globalization Eliminates Jobs in Devel