WGU D080 Enhanced Study Guide- Module 1 |Latest
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Module 1: Political, Economic, and Legal Systems (Lesson 1-6)
1. What..is..globalization?
Provide..the..definition..(Lesson..1)
when. . international. . integration. . arises. . from. . the. . interchange. . of. . world. . views,. . pro
ducts,..ideas,..and..other..aspects..of..culture...Advances..in..transportation..and..teleco
mmunication..infrastructure..have..been..major..factors..in..globalization,..thereby..gen
erating..the..furthering..interdependence..of..economic..and..cultural..activities..in..natio
ns..around..the..world.
2. What..business..opportunities..are..presented..by..globalization
?..(See..the..“Benefits..of..Global..Expansion”..section..of..Lesso
n..2)..Here’s..a..simplified..summary..in..bullet..points:
- Global..expansion..increases..access..to..more..products,..services,..technologie
s,..medicines,..and..knowledge..for..a..larger..number..of..people.
- It..can..lead..to..higher..sales,..greater..economic..growth..(GDP),..and..empow
er..individuals..and..governments..through..more..resources..and..capital.
- The. . benefits. . aim. . to. . provide. . the. . greatest. . good. . for. . the. . largest. . number. . of.
. people..(utilitarian..view).
- Multinational..corporations..(MNCs)..benefit..from:
- New,. . unsaturated. . markets. . with. . demand. . for. . products.
- Lower..labor..costs..and..cheaper..natural..resources.
- Advances..in..technology..making..international..business..easier.
- MNCs..expand..globally..to..either:
- Increase..revenues..by..selling..in..more..countries.
- Lower. . their. . production. . costs. . by. . sourcing. . from. . cheaper. . regions.
- Strategies..include:
- Economies..of..scale..(mass..production..at..lower..costs).
- Economies..of..scope..(offering..a..wider..variety..of..products).
- Strong..business..growth..often..happens..in..developing..markets..where..incomes..
are..rising..and..more..people..can..afford..new..goods..and..services.
- Global..companies..that..successfully..enter..these..markets..can..gain..higher..profits..a
nd..long-term..growth.
.
3. What..are..the..economic,..political,..and..cultural..effects..of..globalization?
a) Describe..economic..globalization..and..its..effects..(See..“Economi
c..Globalization”..section..in
Lesson..1)
□ What..it..is:..The..growing..global..interconnection..of..economies..through..trade,..investme
, nt,..and..the..movement..of..goods,..services,..and..information.
□ How..it..happens:..By..reducing..trade..barriers,..increasing..foreign..investment,..a
nd..leveraging..advances..in..transportation,..communication,..and..technology.
□ Effects:
Update with Complete Solution
Module 1: Political, Economic, and Legal Systems (Lesson 1-6)
1. What..is..globalization?
Provide..the..definition..(Lesson..1)
when. . international. . integration. . arises. . from. . the. . interchange. . of. . world. . views,. . pro
ducts,..ideas,..and..other..aspects..of..culture...Advances..in..transportation..and..teleco
mmunication..infrastructure..have..been..major..factors..in..globalization,..thereby..gen
erating..the..furthering..interdependence..of..economic..and..cultural..activities..in..natio
ns..around..the..world.
2. What..business..opportunities..are..presented..by..globalization
?..(See..the..“Benefits..of..Global..Expansion”..section..of..Lesso
n..2)..Here’s..a..simplified..summary..in..bullet..points:
- Global..expansion..increases..access..to..more..products,..services,..technologie
s,..medicines,..and..knowledge..for..a..larger..number..of..people.
- It..can..lead..to..higher..sales,..greater..economic..growth..(GDP),..and..empow
er..individuals..and..governments..through..more..resources..and..capital.
- The. . benefits. . aim. . to. . provide. . the. . greatest. . good. . for. . the. . largest. . number. . of.
. people..(utilitarian..view).
- Multinational..corporations..(MNCs)..benefit..from:
- New,. . unsaturated. . markets. . with. . demand. . for. . products.
- Lower..labor..costs..and..cheaper..natural..resources.
- Advances..in..technology..making..international..business..easier.
- MNCs..expand..globally..to..either:
- Increase..revenues..by..selling..in..more..countries.
- Lower. . their. . production. . costs. . by. . sourcing. . from. . cheaper. . regions.
- Strategies..include:
- Economies..of..scale..(mass..production..at..lower..costs).
- Economies..of..scope..(offering..a..wider..variety..of..products).
- Strong..business..growth..often..happens..in..developing..markets..where..incomes..
are..rising..and..more..people..can..afford..new..goods..and..services.
- Global..companies..that..successfully..enter..these..markets..can..gain..higher..profits..a
nd..long-term..growth.
.
3. What..are..the..economic,..political,..and..cultural..effects..of..globalization?
a) Describe..economic..globalization..and..its..effects..(See..“Economi
c..Globalization”..section..in
Lesson..1)
□ What..it..is:..The..growing..global..interconnection..of..economies..through..trade,..investme
, nt,..and..the..movement..of..goods,..services,..and..information.
□ How..it..happens:..By..reducing..trade..barriers,..increasing..foreign..investment,..a
nd..leveraging..advances..in..transportation,..communication,..and..technology.
□ Effects:
