BADM 318 Chen Chapter 1 Overview Questions with Correct Answers
Question 1:
Globalization
Answer:
A shift toward a more integrated and interdependent world economy
Question 2:
Drivers of globalization
Answer:
The decline in barriers to the free flow of goods, services, and capital Technological change
Question 3:
Moore's Law
Answer:
as costs of microprocessors fall, their power increases
Question 4:
Globalization of Markets
Answer:
the merging of historically distinct and separate national markets into one huge global
marketplace
-The most global of markets are for industrial goods and materials that serve universal needs
around the world
(aluminum, oil, wheat, microprocessors)
Question 5:
Globalization of Production
Answer:
the sourcing of goods and services from locations around the globe to take advantage of
national differences in the cost and quality of factors of production
-lower overall cost structure
-improvement of the quality or functionality of a product to compete more effectively
, Question 6:
Globalization of Production continued
Answer:
-early outsourcing was primarily for manufacturing
Question 7:
-modern communications technology allows companies to outsource services Impediments to
globalization
Answer:
-Formal and informal trade barriers.
Question 8:
-Barriers to foreign direct investment. -Transportation costs. -Economic and political risk.
-Managerial challenge for coordinating a globally dispersed supply chain. Global institutions
Answer:
manage, regulate, and police the global marketplace,
Question 9:
created by voluntary agreement between individual nation-states Impediments to globalization
Answer:
Formal and informal trade barriers. Barriers to foreign direct investment. Transportation costs.
Economic and political risk.
Managerial challenge for coordinating a globally dispersed supply chain.
Question 10:
Factors of production
Answer:
labor energy, land, and capital
Question 11:
World Trade Organization
Answer:
polices world trading system and ensures nations adhere to the rules established in WTO
treaties
Question 1:
Globalization
Answer:
A shift toward a more integrated and interdependent world economy
Question 2:
Drivers of globalization
Answer:
The decline in barriers to the free flow of goods, services, and capital Technological change
Question 3:
Moore's Law
Answer:
as costs of microprocessors fall, their power increases
Question 4:
Globalization of Markets
Answer:
the merging of historically distinct and separate national markets into one huge global
marketplace
-The most global of markets are for industrial goods and materials that serve universal needs
around the world
(aluminum, oil, wheat, microprocessors)
Question 5:
Globalization of Production
Answer:
the sourcing of goods and services from locations around the globe to take advantage of
national differences in the cost and quality of factors of production
-lower overall cost structure
-improvement of the quality or functionality of a product to compete more effectively
, Question 6:
Globalization of Production continued
Answer:
-early outsourcing was primarily for manufacturing
Question 7:
-modern communications technology allows companies to outsource services Impediments to
globalization
Answer:
-Formal and informal trade barriers.
Question 8:
-Barriers to foreign direct investment. -Transportation costs. -Economic and political risk.
-Managerial challenge for coordinating a globally dispersed supply chain. Global institutions
Answer:
manage, regulate, and police the global marketplace,
Question 9:
created by voluntary agreement between individual nation-states Impediments to globalization
Answer:
Formal and informal trade barriers. Barriers to foreign direct investment. Transportation costs.
Economic and political risk.
Managerial challenge for coordinating a globally dispersed supply chain.
Question 10:
Factors of production
Answer:
labor energy, land, and capital
Question 11:
World Trade Organization
Answer:
polices world trading system and ensures nations adhere to the rules established in WTO
treaties
