WGU D080 Global Business Exam Questions With Complete Solutions (Graded A+ 2023/2024)

WGU D080 Global Business Exam Questions With Complete Solutions (Graded A+ 2023/2024) Cost - ANSWER-Economies of scale and scope. Exploiting cost of factors of production Competition - ANSWER-New Markets and increased levels of trade Government - ANSWER-Favorable policies and support for industry Subsidies - ANSWER-A sum of money granted by the government to assist an industry or business Patents - ANSWER-Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions Copyrights - ANSWER-A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period of time Trademarks - ANSWER-Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others Ethical business practices - ANSWER-Arguably the most substantial of the challenges faced by MNCs-ethical business practices in areas such as labor, product safety, environmental stewardship, corruption, and regulatory compliance-has historically played a dramatic role in the success or failure of global players Organizational structure - ANSWER-Another significant hurdle is the ability to efficiently and effectively incorporate new regions into the value chain and corporate structure Public relations - ANSWER-Public image and branding are critical components of most businesses Leadership - ANSWER-It can be difficult for businesses to find an effective organizational leadership having the appropriate knowledge and skills to approach a given geographic market successfully Legal and regulatory structure - ANSWER-Every nation has unique laws and regulations that govern business. MNCs need access to legal expertise that will help them understand in country laws and comply with applicable regulations Infrastructure - ANSWER-Infrastructure includes the basic physical and organizational structures needed for a society to operate and for an economy to function Technology - ANSWER-The level of technological development of a nation affects the attractiveness of doing business there and the type of operations that are possible Cultural distance refers to people's differences based on language, norms, national or ethnic identity, levels of trust, tolerance, respect for entrepreneurship and social networks, or other country specific qualities - ANSWERAdministration - ANSWER-Bilateral trade flows show that administratively similar countries trade much more with each other than dissimilar countries In Globalization 1.0 - ANSWER-nations dominated global expansion Globalization 2.0 - ANSWER-was driven by the ascension of multinational companies, which pushed global development In Globalization 3.0 - ANSWER-significant software advances have allowed an unprecedented number of people worldwide to work together with unlimited potential Authoritarian governments - ANSWER-Centralize all control in the hands of one strong leader or a strong small group of leaders who have full authority Totalitarianism - ANSWER-Contends that every aspect of an individual's life should be controlled and dictated by a strong central government. Tend to use more fear and corruption to maintain control Anarchism - ANSWER-Contends that individuals should control political activities, and public government is both unnecessary and unwanted