BUSI 303 EXAM 1 EXAM SCRIPT 2026
COMPLETE QUESTIONS SOLUTIONS
APPROVED A+
◉ Glocalization. Answer: Product or service is adapted specifically to
each locality or culture to which it is marketed
◉ Prime Characteristics of Globalization. Answer: -Interdependency
among nations
-Transparency
-Seamless international marketplace
-Blending/merging of cultures
◉ Integration vs. Assimilation. Answer: -assimilation: progression
where a minority culture eventually assumes and resembles the
characteristics of the prevailing culture
◉ Importance of International Trade. Answer: -Maximizing
production & efficiency
-Increasing market audience
-Receiving foreign direct investments
,◉ Global vs Domestic business. Answer: -Scope (territory)
-Culture (shared attributes, values, goals, and practices that
characterize a particular category)
-Market factors (demographic, sociological, and economic forces that
vary)
-Management skills
◉ International transaction. Answer: occurs when a firm in one
nation exchanges products, services, resources, or capital with a firm
located in another nation
◉ Pax Romona. Answer: Roman peace - a period of peace and
prosperity in the Roman Empire that lasted from 27 BC to AD 180.
◉ Magna Carta Libertatum. Answer: chartered as a way to formally
recognize the legal limitations of a king's power. sometimes credited
with stimulating the growth of free trade during this time period.
◉ Industial Revolution. Answer: heralded the introduction of mass
production, improved transportation, technological progress, and
the industrial factory system.
◉ Information Age. Answer: era in which information is considered
to be a valuable resource and its capture and distribution generates
competitive advantage to organizations.
, ◉ Pax Americana. Answer: "American Peace," period of relative
peace in the Western world since the end of WWII in 1945, which
coincided with the dominant military and economic position of the
United States
◉ Driving forces of globalization. Answer: -Barriers to trade
-Foreign investment
-Communication/transportation
-Multinational corporations
◉ International Organization for Standardization (ISO). Answer:
Specify the requirements for state-of-the-art products, services,
processes, materials and systems, and for good conformity
assessment, managerial and organizational practices. ISO standards
are designed to be implemented worldwide. ISO cargo containers
aka isotainers.
◉ Corporate Integration. Answer: -Vertical
-Horizontal
-Diversified
◉ Political risks. Answer: -transfer
-operational
COMPLETE QUESTIONS SOLUTIONS
APPROVED A+
◉ Glocalization. Answer: Product or service is adapted specifically to
each locality or culture to which it is marketed
◉ Prime Characteristics of Globalization. Answer: -Interdependency
among nations
-Transparency
-Seamless international marketplace
-Blending/merging of cultures
◉ Integration vs. Assimilation. Answer: -assimilation: progression
where a minority culture eventually assumes and resembles the
characteristics of the prevailing culture
◉ Importance of International Trade. Answer: -Maximizing
production & efficiency
-Increasing market audience
-Receiving foreign direct investments
,◉ Global vs Domestic business. Answer: -Scope (territory)
-Culture (shared attributes, values, goals, and practices that
characterize a particular category)
-Market factors (demographic, sociological, and economic forces that
vary)
-Management skills
◉ International transaction. Answer: occurs when a firm in one
nation exchanges products, services, resources, or capital with a firm
located in another nation
◉ Pax Romona. Answer: Roman peace - a period of peace and
prosperity in the Roman Empire that lasted from 27 BC to AD 180.
◉ Magna Carta Libertatum. Answer: chartered as a way to formally
recognize the legal limitations of a king's power. sometimes credited
with stimulating the growth of free trade during this time period.
◉ Industial Revolution. Answer: heralded the introduction of mass
production, improved transportation, technological progress, and
the industrial factory system.
◉ Information Age. Answer: era in which information is considered
to be a valuable resource and its capture and distribution generates
competitive advantage to organizations.
, ◉ Pax Americana. Answer: "American Peace," period of relative
peace in the Western world since the end of WWII in 1945, which
coincided with the dominant military and economic position of the
United States
◉ Driving forces of globalization. Answer: -Barriers to trade
-Foreign investment
-Communication/transportation
-Multinational corporations
◉ International Organization for Standardization (ISO). Answer:
Specify the requirements for state-of-the-art products, services,
processes, materials and systems, and for good conformity
assessment, managerial and organizational practices. ISO standards
are designed to be implemented worldwide. ISO cargo containers
aka isotainers.
◉ Corporate Integration. Answer: -Vertical
-Horizontal
-Diversified
◉ Political risks. Answer: -transfer
-operational
