FVC1 Global Business - WGU Study Guide
questions with verified answers
5 Stages of Integration Ans✓✓✓ Free Trade Area, Customs Union, Common
Market, Economic Union, Political Union
Channels of distribution Ans✓✓✓ Containerization - Shipments placed in trailer-
sized containers which can be moved from one type of transportation to another
without unloading and reloading; Freight forwarder - Agents who ship products to
international customers; Intermodal transport - Moving from one transportation
method to another; Giant-sized container ships - Moves large quantities of
products to international buyers at low per unit costs
How can countries successfully attract foreign direct investment? Ans✓✓✓ By
implementing transparent government structures
How do major international institutions facilitate globalization? Ans✓✓✓
International Monetary Fund system (IMF) - to Promote global financial stability;
World Bank - to help reconstruct developing nation economies and end extreme
poverty; World Trade Organization (WTO) - to promote trade in agriculture,
services, inventions and intellectual property
How do specific control systems affect global business? Ans✓✓✓ Bureaucratic
control - Rules, policies, hierarchy of authority, written documentation, reward
system to influence employee behavior and assess performance; Interpersonal
control - Personal contact; Output control - Involves establishing specific goals on
given metrics and then measuring to what extent these goals have been achieved
at certain time intervals
, How do the internet and enterprise resource planning systems affect global
supply chains? Ans✓✓✓ Integrate major business processes, Multi-language,
multi-national, multi-currency
How does global operations management function? Ans✓✓✓ Procurement - the
purchase of capital (raw material); Production; Logistic; Research and
development
How does organization culture influence organization activities in given scenarios?
Ans✓✓✓ Represents the implementation of a different business or culture path
for an organization, There will often be considerable resistance to such change,
Most effective when pushed form the top down
How to protect intellectual property? Ans✓✓✓ Patents - Grants
exclusive/monopoly rights to the inventor, excluding other from marketing,
selling or using the invention; Copyrights - Exclusive legal rights that authors,
playwrights, publishers, artists, composers, performers, photographers, and other
have to publish and disseminate their work. Trademarks - Unique identifiers of a
business - Phrase, name, word, picture, logo, symbol, etc
What are challenges involved in staffing foreign operations? Ans✓✓✓ Parent
country nationals (expatriates) - Issues with trust, language barriers, family issues
(home sick), culture shock. Can result in them failing assignment
What are considerations for locating and relocating production facilities in given
scenarios? Ans✓✓✓ How many facilities; Where to locate production facility for
components and raw materials; Where to locate production facility for products.
Relocating - Because costs have changed
questions with verified answers
5 Stages of Integration Ans✓✓✓ Free Trade Area, Customs Union, Common
Market, Economic Union, Political Union
Channels of distribution Ans✓✓✓ Containerization - Shipments placed in trailer-
sized containers which can be moved from one type of transportation to another
without unloading and reloading; Freight forwarder - Agents who ship products to
international customers; Intermodal transport - Moving from one transportation
method to another; Giant-sized container ships - Moves large quantities of
products to international buyers at low per unit costs
How can countries successfully attract foreign direct investment? Ans✓✓✓ By
implementing transparent government structures
How do major international institutions facilitate globalization? Ans✓✓✓
International Monetary Fund system (IMF) - to Promote global financial stability;
World Bank - to help reconstruct developing nation economies and end extreme
poverty; World Trade Organization (WTO) - to promote trade in agriculture,
services, inventions and intellectual property
How do specific control systems affect global business? Ans✓✓✓ Bureaucratic
control - Rules, policies, hierarchy of authority, written documentation, reward
system to influence employee behavior and assess performance; Interpersonal
control - Personal contact; Output control - Involves establishing specific goals on
given metrics and then measuring to what extent these goals have been achieved
at certain time intervals
, How do the internet and enterprise resource planning systems affect global
supply chains? Ans✓✓✓ Integrate major business processes, Multi-language,
multi-national, multi-currency
How does global operations management function? Ans✓✓✓ Procurement - the
purchase of capital (raw material); Production; Logistic; Research and
development
How does organization culture influence organization activities in given scenarios?
Ans✓✓✓ Represents the implementation of a different business or culture path
for an organization, There will often be considerable resistance to such change,
Most effective when pushed form the top down
How to protect intellectual property? Ans✓✓✓ Patents - Grants
exclusive/monopoly rights to the inventor, excluding other from marketing,
selling or using the invention; Copyrights - Exclusive legal rights that authors,
playwrights, publishers, artists, composers, performers, photographers, and other
have to publish and disseminate their work. Trademarks - Unique identifiers of a
business - Phrase, name, word, picture, logo, symbol, etc
What are challenges involved in staffing foreign operations? Ans✓✓✓ Parent
country nationals (expatriates) - Issues with trust, language barriers, family issues
(home sick), culture shock. Can result in them failing assignment
What are considerations for locating and relocating production facilities in given
scenarios? Ans✓✓✓ How many facilities; Where to locate production facility for
components and raw materials; Where to locate production facility for products.
Relocating - Because costs have changed
