What legal risks do companies face? What legal responsibilities do businesses have?
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Business more involved with society, more obligated to follow legal rules.
-Liability for faulty products(or dangerous)
-noncompliance with country's regulations of business activities
-Breaking contract rules (Sued)
-Workplace accidents (explosion, building collapsed, injured workers)
-Sued for violating Intellectual property rights (other companies may claim
the same IP rights and prosecute)
-Instigate pollution/environment al damage (pay heavy fines to gov't)
-Engagement with corruption to do business (heavy gov't fines in foreign
country AND/OR host country)
List at least three economic indicators and explain why a business would want to be
aware of trends in a country's performance on these before entering a new market
,overseas. Be sure to use a country example.
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3 economic indicators: (1) Gross National Income, (2) Gross Domestic
Product, (3) Gini index. (Also, inflation, CPI, balance of payments, etc.)
Businesses want to be aware, so they choose to expand into countries
where they can have good business and/or make a profit. For example,
South Africa is one of the most industrialized countries in Africa with a GDP
of $419.9 billion, but it has as an unemployment rate of 33% and a Gini index
of ~63. These two indicators show an uneven distribution of wealth as well
as lack of jobs.
What are some characteristics of extreme nationalism in a country? Provide examples
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-Xenophobic: dislikes immigrants, dislikes minorities
- an "us vs them" ideology: believes their country is supreme over others
and rejects opposing ideologies.
Ex: Fascism->Germany & Italy (fascism is often represented by opposing
vote to an existing gov't and can gain significant political votes).
What criticisms might a company face when it shifts production from its home country
to a country where costs are much lower?
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, The main criticism faced is that they are taking away jobs from the home
country by going abroad.
Why have some countries prospered economically while others have not? Your
response should integrate at least three or four of the main themes and topics studied
in this class. Use specific examples of developed, developing, and least developed
countries in your response.
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Industrialization plays a big factor in economic growth. We see this take
place in China, where they were able to grow very quickly from the
resources from clothes to TVs and labor they had. From there, they were
able to use their resources to create an array of goods for western
companies. But take this with a grain of salt; they had to borrow a ot of
money to ramp up production, and trade tensions with the US tamp down
growth!
In addition to industrialization, countries (like Africa ) prosper economically
due to their exploitation of natural resources. Mali had 5.3% growth from
exporting gold and minerals and agricultural produce.
The ability to use factors of production (inputs) and a country's productivity
with labor and capital resources dictate economic growth.
Numbers that help us mesaure a country's wealth and growth are the GDP,
GNI, Gini, PPP (Purchasing power parity), and more.
How has the world's currency system changed over time? Explain how it was different
before and what events caused it to change.
Give this one a try later!
Give this one a try later!
Business more involved with society, more obligated to follow legal rules.
-Liability for faulty products(or dangerous)
-noncompliance with country's regulations of business activities
-Breaking contract rules (Sued)
-Workplace accidents (explosion, building collapsed, injured workers)
-Sued for violating Intellectual property rights (other companies may claim
the same IP rights and prosecute)
-Instigate pollution/environment al damage (pay heavy fines to gov't)
-Engagement with corruption to do business (heavy gov't fines in foreign
country AND/OR host country)
List at least three economic indicators and explain why a business would want to be
aware of trends in a country's performance on these before entering a new market
,overseas. Be sure to use a country example.
Give this one a try later!
3 economic indicators: (1) Gross National Income, (2) Gross Domestic
Product, (3) Gini index. (Also, inflation, CPI, balance of payments, etc.)
Businesses want to be aware, so they choose to expand into countries
where they can have good business and/or make a profit. For example,
South Africa is one of the most industrialized countries in Africa with a GDP
of $419.9 billion, but it has as an unemployment rate of 33% and a Gini index
of ~63. These two indicators show an uneven distribution of wealth as well
as lack of jobs.
What are some characteristics of extreme nationalism in a country? Provide examples
Give this one a try later!
-Xenophobic: dislikes immigrants, dislikes minorities
- an "us vs them" ideology: believes their country is supreme over others
and rejects opposing ideologies.
Ex: Fascism->Germany & Italy (fascism is often represented by opposing
vote to an existing gov't and can gain significant political votes).
What criticisms might a company face when it shifts production from its home country
to a country where costs are much lower?
Give this one a try later!
, The main criticism faced is that they are taking away jobs from the home
country by going abroad.
Why have some countries prospered economically while others have not? Your
response should integrate at least three or four of the main themes and topics studied
in this class. Use specific examples of developed, developing, and least developed
countries in your response.
Give this one a try later!
Industrialization plays a big factor in economic growth. We see this take
place in China, where they were able to grow very quickly from the
resources from clothes to TVs and labor they had. From there, they were
able to use their resources to create an array of goods for western
companies. But take this with a grain of salt; they had to borrow a ot of
money to ramp up production, and trade tensions with the US tamp down
growth!
In addition to industrialization, countries (like Africa ) prosper economically
due to their exploitation of natural resources. Mali had 5.3% growth from
exporting gold and minerals and agricultural produce.
The ability to use factors of production (inputs) and a country's productivity
with labor and capital resources dictate economic growth.
Numbers that help us mesaure a country's wealth and growth are the GDP,
GNI, Gini, PPP (Purchasing power parity), and more.
How has the world's currency system changed over time? Explain how it was different
before and what events caused it to change.
Give this one a try later!
