,What is globalization?
CORRECT ANSWER:
When international integration arises from the interchange of world views,
products, ideas, and other aspects of cultures.
Different types of Globalization
CORRECT ANSWER:
1. Economic
2. Political
3. Cultural
What is Culture Globalization?
CORRECT ANSWER:
refers to the transmission of ideas, meanings, and values around the world in
such a way that extends and intensifies social relations.
What is Political Globalization?
CORRECT ANSWER:
Refers to the emergence of an increasing number of global institutions such as
the growth of both intergovernmental organizations and nongovernmental
organizations
What is Economic Globalization?
CORRECT ANSWER:
A process of increasing cross-border flows of capital, goods, services, and
people
Advantages of Economic globalization
CORRECT ANSWER:
more trade, investments, information technology, faster economic development,
and increased social being
Disadvantages of Economic globalization
CORRECT ANSWER:
benefits the rich at the expense of the poor, manufacturing job loss in developed
countries, environmental damage, and unethical practices of labor
,Advantages of Political globalization
CORRECT ANSWER:
more cooperation amount countries, formation of international or regional
organizations, NGOs
Disadvantages of Political globalization
CORRECT ANSWER:
reduce the importance of nation-states, loss of sovereignty and power of local
government
Advantages of Cultural globalization
CORRECT ANSWER:
awareness of international community
Disadvantages of Cultural globalization
CORRECT ANSWER:
loss of uniqueness of a country's culture
What is international business?
CORRECT ANSWER:
any situation where the production or distribution of goods or services crosses
country borders
What are opportunities for international business?
CORRECT ANSWER:
New and large international markets offers possible more revenues, lower
costs, and access to advanced technology
What are challenges for international business?
CORRECT ANSWER:
Ethical business practice concerns, organizational structure (create new
division), public relations (build customer loyalty), leaderships, and legal and
regulatory structure
What are the 5 stages of going global?
CORRECT ANSWER:
, 1. Market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
Market Entry
CORRECT ANSWER:
Companies enter new countries using business models similar to the ones
deployed in their home markets
Product specialization
CORRECT ANSWER:
Companies transfer the full production process of a particular product line to a
single, low-cost location and export the goods to various consumer markets
Value chain disaggregation
CORRECT ANSWER:
Companies disaggregate the production process and focus on completing each
activity in the most advantageous location
Value chain reengineering
CORRECT ANSWER:
Companies seek to further increase their cost savings by reengineering their
processes to suit local market conditions by substituting lower cost labor for
capital
Creation of new markets
CORRECT ANSWER:
creates new demand due to the reduction of ticket price
What are the 4 drivers of Globalization?
CORRECT ANSWER:
1. Market
2. Cost
3. Competition
4. Government
CORRECT ANSWER:
When international integration arises from the interchange of world views,
products, ideas, and other aspects of cultures.
Different types of Globalization
CORRECT ANSWER:
1. Economic
2. Political
3. Cultural
What is Culture Globalization?
CORRECT ANSWER:
refers to the transmission of ideas, meanings, and values around the world in
such a way that extends and intensifies social relations.
What is Political Globalization?
CORRECT ANSWER:
Refers to the emergence of an increasing number of global institutions such as
the growth of both intergovernmental organizations and nongovernmental
organizations
What is Economic Globalization?
CORRECT ANSWER:
A process of increasing cross-border flows of capital, goods, services, and
people
Advantages of Economic globalization
CORRECT ANSWER:
more trade, investments, information technology, faster economic development,
and increased social being
Disadvantages of Economic globalization
CORRECT ANSWER:
benefits the rich at the expense of the poor, manufacturing job loss in developed
countries, environmental damage, and unethical practices of labor
,Advantages of Political globalization
CORRECT ANSWER:
more cooperation amount countries, formation of international or regional
organizations, NGOs
Disadvantages of Political globalization
CORRECT ANSWER:
reduce the importance of nation-states, loss of sovereignty and power of local
government
Advantages of Cultural globalization
CORRECT ANSWER:
awareness of international community
Disadvantages of Cultural globalization
CORRECT ANSWER:
loss of uniqueness of a country's culture
What is international business?
CORRECT ANSWER:
any situation where the production or distribution of goods or services crosses
country borders
What are opportunities for international business?
CORRECT ANSWER:
New and large international markets offers possible more revenues, lower
costs, and access to advanced technology
What are challenges for international business?
CORRECT ANSWER:
Ethical business practice concerns, organizational structure (create new
division), public relations (build customer loyalty), leaderships, and legal and
regulatory structure
What are the 5 stages of going global?
CORRECT ANSWER:
, 1. Market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
Market Entry
CORRECT ANSWER:
Companies enter new countries using business models similar to the ones
deployed in their home markets
Product specialization
CORRECT ANSWER:
Companies transfer the full production process of a particular product line to a
single, low-cost location and export the goods to various consumer markets
Value chain disaggregation
CORRECT ANSWER:
Companies disaggregate the production process and focus on completing each
activity in the most advantageous location
Value chain reengineering
CORRECT ANSWER:
Companies seek to further increase their cost savings by reengineering their
processes to suit local market conditions by substituting lower cost labor for
capital
Creation of new markets
CORRECT ANSWER:
creates new demand due to the reduction of ticket price
What are the 4 drivers of Globalization?
CORRECT ANSWER:
1. Market
2. Cost
3. Competition
4. Government
