{"id":2834,"date":"2023-02-19T16:10:53","date_gmt":"2023-02-19T16:10:53","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-3-2-participating-in-the-global-marketplace\/"},"modified":"2023-06-27T15:13:21","modified_gmt":"2023-06-27T15:13:21","slug":"apply-it-3-2-participating-in-the-global-marketplace","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-3-2-participating-in-the-global-marketplace\/","title":{"raw":"Apply It 3.2: Participating in the Global Marketplace","rendered":"Apply It 3.2: Participating in the Global Marketplace"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use importing, exporting, and countertrade in global trade&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use importing, exporting, and countertrade in global trade<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the difference between outsourcing and offshoring&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the difference between outsourcing and offshoring<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use licensing and franchising to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use licensing and franchising to reach global markets<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets<\/span><\/li>\r\n<\/ul>\r\n<\/section>The following video is an example of how a small business is doing business in China.\r\n\r\nhttps:\/\/youtu.be\/swZFYhe5Vjo\r\n\r\nYou can <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/ChineseManufacturingForAmericanProducts_transcript.txt\" target=\"_blank\" rel=\"noopener\">view the transcript for \"Chinese Manufacturing for American Products\" (opens in new window).<\/a>\r\n\r\n<section class=\"textbox tryIt\">[ohm2_question height=\"375\"]3819[\/ohm2_question]<\/section>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use importing, exporting, and countertrade in global trade&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use importing, exporting, and countertrade in global trade<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the difference between outsourcing and offshoring&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the difference between outsourcing and offshoring<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use licensing and franchising to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use licensing and franchising to reach global markets<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand how businesses use foreign direct investments, joint ventures, and foreign strategic alliances to reach global markets<\/span><\/li>\n<\/ul>\n<\/section>\n<p>The following video is an example of how a small business is doing business in China.<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Chinese Manufacturing for American Products\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/swZFYhe5Vjo?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>You can <a href=\"https:\/\/course-building.s3-us-west-2.amazonaws.com\/Intro+to+Business\/Transcriptions\/ChineseManufacturingForAmericanProducts_transcript.txt\" target=\"_blank\" rel=\"noopener\">view the transcript for &#8220;Chinese Manufacturing for American Products&#8221; (opens in new window).<\/a><\/p>\n<section class=\"textbox tryIt\"><iframe loading=\"lazy\" id=\"ohm3819\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=3819&theme=lumen&iframe_resize_id=ohm3819&source=tnh&show_question_numbers\" width=\"100%\" height=\"375\"><\/iframe><\/section>\n","protected":false},"author":21,"menu_order":15,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Chinese Manufacturing for American Products\",\"author\":\"Lumen 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