Global Business Today

Andres Chamorro Urcuyo MindMap

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Global Business Today by Mind Map: Global Business Today

1. Collectivism and Invididualism

1.1. Socialism

1.1.1. Communists Believe in revolution Totalitarin Dictatoriship

1.1.2. Social Democrats Democratic means Working to achieve a same goal

1.2. Individualism

1.2.1. Freedom over economic pursuit Individual Diversity

1.2.2. Freedom over polical pursuit Individual Freedom and self expression Democratic Systems and free markets

1.3. Collectivism

1.3.1. Needs of society more important than individual freedom Collective goal over individuals goals

2. Democracy and Totalirianism

2.1. Democracy

2.1.1. Goverment is by the people Freedom of speech Freedom to vote

2.1.2. Represented through elected or directly representatives Representative democracy The nation votes

2.2. Totalirianism

2.2.1. One person or politcial party have absolute control Communist Totalitarianism Achieve socialism through Totalitarianism Theocratic Totalitarianism Poltical power is monopolized Tribal Totalitarianism Political party that represents a particual tribe Right wing Totalitarianism Individual economic freedom allowed individual economic freedom is restricted

3. Economic Systems

3.1. Market Economy

3.1.1. Supply and Demand goods the country produces Consumers determine how much is produced services that country produces Free and fair competition between private producers

3.2. Command economy

3.2.1. Government controls goods and services produced all business are state owned little incentive to control costs and be efficient no private ownership little incentive to better serve consumer needs

3.3. Mixed Economy

3.3.1. Market economy free flow of goods and services protects producers and consumers

3.3.2. command economy goverment total control supply and demand dont determine anything

4. Legal Systems

4.1. Common law

4.1.1. Tradition

4.1.2. Precedent

4.1.3. custom

4.2. Civil Law

4.2.1. Detailed set of laws organized into codes

4.3. Theocratic law

4.3.1. Based on religious teachings

4.4. Contract Law

4.4.1. contract enforcement especific conditions between two parties exchange expected to occure

5. Property rights and Corruption

5.1. Property rights

5.1.1. Private Action Theft Piracy Blackmail

5.1.2. Public Action Extort income from property holders Extort resources

5.2. Corruption

5.2.1. High levels of Corruption Foreign Direct Investments fails International trade falls Economic growth falls

6. Economic Development

6.1. Innovation

6.1.1. Entrepreneurs New Products New Processes New Organizations

6.2. Geography

6.2.1. Economic Policy More free trade Economic Growth

6.3. Education Levels

6.3.1. More Investmetns More develop economy