WEEK 3

MARKET INTEGRATION

WORKSHEET 1

Independent Learning activity:

Watch the film: “The Corporation” and answer the question, "What makes a corporation
global? In your Worksheet 1. (See the attached rubrics for rating in the lesson Plan)

The degree of creativity of the firm, heavily depends on the willingness and purpose of its
employees to experiment with new ideas and concepts, to create prototypes. To analyze
opportunities for new products and services. It depends on the degree of support that
experimentation society receives from the leaders of the firm

A global company is generally referred to as a multinational corporation (MNC). An MNC is a

company that operates in two or more countries, leveraging the global environment to approach
varying markets in attaining revenue generation. These international operations are pursued as a
result of the strategic potential provided by technological developments, making new markets a
more convenient and profitable pursuit both in sourcing production and pursuing growth.

Change to the innovation society is tough and costly. It hard depends both on the scheme of the
firm and the attitude of the workforce. The value structure in relation to research, cooperation,
expertise and knowledge sharing. The organization wants to begin, as a single entity, both
employees and organization, the manner of constant looking for opportunities for greater
products and services that have value to users, employees, the company, the market, the society.

1. Students explain the roles of the different international financial institutions in economic
globalization.

International financial institutions ROLES

General Agreement on Tariffs and Trade (GATT) The GATT was created to form rules to end or
restrict the most costly and undesirable features of
the prewar protectionist period, namely
quantitative trade barriers such as trade controls
and quotas. The agreement also provided a system
to arbitrate commercial disputes among nations,
and the framework enabled a number of
 multilateral negotiations for the reduction of tariff
barriers. The GATT was regarded as a significant
success in the postwar years.
World Trade Organization (WTO) It operates a global system of trade rules, it acts as
a forum for negotiating trade agreements, it settles
trade disputes between its members and it
supports the needs of developing countries.
The International Monetary Fund (IMF) It aims to work to foster global monetary co-
operation, secure financial stability, facilitate
international trade, promote high employment and
sustainable economic growth and reduce poverty
around the world
The Organization for economic cooperation and The mission of the Organization for Economic Co-
development (OECD) operation and Development (OECD) is to promote
policies that will improve the economic and social
well-being of people around the world. The OECD
provides a forum in which governments can work
together to share experiences and seek solutions to
common problems.
Organization of Petroleum Exporting countries To ensure price stability in the world oil market; to
(OPEC) obtain a stable revenue for oil-producing nations;
and to provide a regular, reliable, efficient and
economic supply to consuming countries and a fair
return to investors in the oil industry.
North American Free Trade Agreement to reduce barriers to trade
(NAFTA) to increase cooperation for improving working
conditions in North America
to create an expanded and safe market for goods
and services produced in North America
to establish clear and mutually advantageous trade
rules
to help develop and expand world trade and
provide a catalyst to broader international
cooperation
2. Students make a graphic organizer about the history of Global Market Integration.

AGRICULTURAL INDUSTRIAL
REVOLUTION REVOLUTION

The Agricultural
Revolution and
Industrial Revolution

PRIMARY LABOR
CAPITALISM
History of Global MARKET
Market
Integration
Capitalism and The Information
Socialism Revolution

SECONDARY
LABOR MARKET
SOCIALISM