Explain the elements involved in integrating the global economy into businesses as well as outsourcing as means of operating internationally.

1. Explain the elements involved in integrating the global economy into businesses as well as outsourcing as means of operating internationally. 

2. Explain the pressures of vertical (global) versus horizontal (local) integration.

3. Explain the differences between international, multinational, global, and transnational models by giving examples. 

4. Explain the differences between licensing, franchising, joint venture, and wholly owned subsidiaries in the global market.