well answered graded A+ 2025/2026
What is globalization? - correct answer ✔✔The international integration arising from the
exchange of world views, products, ideas, and other aspects of culture. It's a process to remove
barriers between countries to promote collaboration and interdependence.
What are the five types of globalization? - correct answer ✔✔Economic, Political, Cultural,
Environmental, and Social
What is international business? - correct answer ✔✔Any situation where the
production/distribution of goods/services crosses country borders
What are the positive cultural impacts of globalization? - correct answer ✔✔Awareness of
international community, blending of cultures, appreciation of languages/foods/religions, open
mindsets, exchange of ideas/values/morals
What are the negative cultural impacts of globalization? - correct answer ✔✔Loss of uniqueness
of country's culture, cultural appropriation, younger generations may lose connection with
original cultural traditions
What are the 5 stages of entering a global market? - correct answer ✔✔1) Market Entry -
Companies enter new countries with home business model 2) Production Specialization - Full
production moves to single low-cost location 3) Value Chain Disaggregation - Complete each
activity in best low-cost location 4) Value Chain Reengineering - Seek further cost savings
through labor substitution 5) Creation of New Markets