WGU D080 MANAGING IN A GLOBAL
BUSINESS ENVIRONMENT
QUESTIONS & UPDATED COMPLETE
SOLUTIONS WELL PASSED
The key element of globalization is interdependence and interconnectedness among companies
and countries around the globe. Globalism is characterized by an increasing number of
worldwide connections, rapid and discontinuous change, an increasing number of diverse
participants, and growing complexity.
What is globalization?
economic: developed economies integrating with developing countries through foreign direct
investment, lowering the costs of doing business, reducing trade barriers, and, in many cases,
increasing cross-border migration.
political: globalization may ultimately reduce the importance of nation-states.
cultural: The spread of culture has added to processes such as commodity exchange and
colonization, which have a more extended history of carrying cultural meaning around the
globe. The circulation of cultures enables individuals to partake in extended social relations that
cross national and regional borders.
What are the economic, political, and cultural effects of globalization?
any nonprofit, voluntary citizens' groups that are organized on a local, national, or international
level
What is nongovernmental organization and how does it impact government public policy across
national boundaries?
,International business encompasses a full range of cross-border exchanges of goods, services, or
resources across two or more nations. These exchanges can go beyond the exchange of money
for physical goods to include international transfers of other resources such as people;
intellectual property such as patents, copyrights, brand trademarks, and data; and contractual
assets or liabilities. Such assets or liabilities include the right to use some foreign asset, provide
some future service to overseas customers, or execute a complex financial instrument. The
entities involved in international business range from large multinational firms with thousands
of employees doing business in many countries to a small one-person company acting as an
importer or exporter. This broader definition of international business also encompasses for-
profit, border-crossing transactions as well as transactions motivated by nonfinancial gains.
What are the features of international business?
- Exporting
- franchising
- joint ventures
- home-owned affiliates
- fully global ventures
What are the different forms of international business? Explain each form.
1. market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
What are the 5 stages of entering a global market? Explain each stage
,market, cost, competition, government
What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower labor costs, less expensive natural resources, and
other inputs to products.
What are the benefits and costs of global expansion from MNCs' perspective?
1.0: the first stage of globalism and is pushed forward by nationalism and religion.
2.0: the second stage of globalization and is characterized by advances in methods of
transportation.
3.0: the third stage of globalization and is characterized by advancements across the board,
especially technology and communication.
What are the characteristics of each stage of globalization?
Ethical issues, governmental policies, and economic restrictions are all likely when a company
moves into an unfamiliar global space. A multinational company may also face infrastructural
and technological challenges in a developing country.
What are the criticisms of globalization?
There are more than 13 major types of government, each of which consists of multiple
variations. At one end of the extremes of political ideologies is anarchism, which contends that
individuals should control political activities, and public government is both unnecessary and
unwanted. At the other extreme is totalitarianism, which contends that every aspect of an
individual's life should be controlled and dictated by a strong central government.
, Totalitarianism
Authoritarian
Monarchy
Democracy
Oligarchy
Dictatorship
What are different types of governments? Explain
Local policies, rules, and regulations can have a significant effect on the success rate of a
business. Depending on how long a company expects to operate in a country and how easy it is
for business to enter and exit, a firm may also assess the country's political risk and stability.
What impacts does a political system have on international trade and business?
- Industrialized nations have economies characterized by a healthy climate for private enterprise
(business) and by a consumer orientation, meaning the business climate focuses on meeting
consumers' long-term wants and needs.
- Less-developed nations, also known as least-developed countries (LDCs), have extensive
poverty, low per capita income and standards of living, low literacy rates, and minimal
technology.
- Developing nations are those that make the transition from economies based on agricultural
and raw materials production to industrialized economies.
What are the features of industrialized, less-developed, and developing nations?
- Traditional economies are found in rural countries where the primary occupation is farming.
- In a command economy found in a communist country, most of the economic system is
controlled by a centralized power.
BUSINESS ENVIRONMENT
QUESTIONS & UPDATED COMPLETE
SOLUTIONS WELL PASSED
The key element of globalization is interdependence and interconnectedness among companies
and countries around the globe. Globalism is characterized by an increasing number of
worldwide connections, rapid and discontinuous change, an increasing number of diverse
participants, and growing complexity.
What is globalization?
economic: developed economies integrating with developing countries through foreign direct
investment, lowering the costs of doing business, reducing trade barriers, and, in many cases,
increasing cross-border migration.
political: globalization may ultimately reduce the importance of nation-states.
cultural: The spread of culture has added to processes such as commodity exchange and
colonization, which have a more extended history of carrying cultural meaning around the
globe. The circulation of cultures enables individuals to partake in extended social relations that
cross national and regional borders.
What are the economic, political, and cultural effects of globalization?
any nonprofit, voluntary citizens' groups that are organized on a local, national, or international
level
What is nongovernmental organization and how does it impact government public policy across
national boundaries?
,International business encompasses a full range of cross-border exchanges of goods, services, or
resources across two or more nations. These exchanges can go beyond the exchange of money
for physical goods to include international transfers of other resources such as people;
intellectual property such as patents, copyrights, brand trademarks, and data; and contractual
assets or liabilities. Such assets or liabilities include the right to use some foreign asset, provide
some future service to overseas customers, or execute a complex financial instrument. The
entities involved in international business range from large multinational firms with thousands
of employees doing business in many countries to a small one-person company acting as an
importer or exporter. This broader definition of international business also encompasses for-
profit, border-crossing transactions as well as transactions motivated by nonfinancial gains.
What are the features of international business?
- Exporting
- franchising
- joint ventures
- home-owned affiliates
- fully global ventures
What are the different forms of international business? Explain each form.
1. market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
What are the 5 stages of entering a global market? Explain each stage
,market, cost, competition, government
What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower labor costs, less expensive natural resources, and
other inputs to products.
What are the benefits and costs of global expansion from MNCs' perspective?
1.0: the first stage of globalism and is pushed forward by nationalism and religion.
2.0: the second stage of globalization and is characterized by advances in methods of
transportation.
3.0: the third stage of globalization and is characterized by advancements across the board,
especially technology and communication.
What are the characteristics of each stage of globalization?
Ethical issues, governmental policies, and economic restrictions are all likely when a company
moves into an unfamiliar global space. A multinational company may also face infrastructural
and technological challenges in a developing country.
What are the criticisms of globalization?
There are more than 13 major types of government, each of which consists of multiple
variations. At one end of the extremes of political ideologies is anarchism, which contends that
individuals should control political activities, and public government is both unnecessary and
unwanted. At the other extreme is totalitarianism, which contends that every aspect of an
individual's life should be controlled and dictated by a strong central government.
, Totalitarianism
Authoritarian
Monarchy
Democracy
Oligarchy
Dictatorship
What are different types of governments? Explain
Local policies, rules, and regulations can have a significant effect on the success rate of a
business. Depending on how long a company expects to operate in a country and how easy it is
for business to enter and exit, a firm may also assess the country's political risk and stability.
What impacts does a political system have on international trade and business?
- Industrialized nations have economies characterized by a healthy climate for private enterprise
(business) and by a consumer orientation, meaning the business climate focuses on meeting
consumers' long-term wants and needs.
- Less-developed nations, also known as least-developed countries (LDCs), have extensive
poverty, low per capita income and standards of living, low literacy rates, and minimal
technology.
- Developing nations are those that make the transition from economies based on agricultural
and raw materials production to industrialized economies.
What are the features of industrialized, less-developed, and developing nations?
- Traditional economies are found in rural countries where the primary occupation is farming.
- In a command economy found in a communist country, most of the economic system is
controlled by a centralized power.
