WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
1. What is globaliza- When international integration arises from the interchange of world views, prod-
tion? ucts, ideas and cultures.
2. What business Trade, transactions, capital, and investment movements. The migration and move-
opportunities are ment of people and the dissemination of knowledge.
presented by
globalization?
3. What are the eco- International movement of goods, capital, services and technology and informa-
nomic effects of tion.
globalization?
4. What are the po- Reduces importance of nation states
litical effects of
globalization?
5. What are the cul- Ideas, meanings, values. Decreased uniqueness by once-isolated communities.
tural effects of
globalization?
6. What are Access to broader market, gains access to cheap labor.
the arguments
for globalization
from a country's
perspective?
7. What are Needs to understand foreign legal and political policies.
the arguments
against global-
ization from a
country's per-
spective?
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
8. Explain the five 1. First stage (market entry),
stages of enter- Companies enter new country's using business models similar to the ones in
ing a global mar- home market.
ket. 2. Second stage (product specialization),
Companies transfer the full production process of a product to a single location.
3. Third stage (value chain disaggregation)
Desegregating the the production process and focus on completing each activity
in a better location. (different areas)
4. Fourth stage (value chain reengineering),
Companies seek to further increase their cost savings by reengineering their
production process
5. Fifth stage (creation of new markets)
Allows companies to lower their sticker prices in both new and old markets.
9. Explain Four dri- 1. Market - explain convergence of needs,
vers of globaliza- Allows companies to lower their sticker prices in both new and old markets.
tion. 2. Cost - define economies of scale and economies of scope
Refers to product development, manufacturing, and sourcing.
3. Competition - New markets, increased level of trade.
4. Government - Absence or presence of trade policies, technical standards,
policies and regulations.
10. What is the differ- Events that made the world smaller.
ence between CAGE analysis
the world is flat 1."C" is for culture - Shared beliefs, practices, norms.
view and the 2."A" is for administration - Similar country's trade with each other
CAGE analysis? 3."G" is for geography - Location
4."E" is for economic distance - Socioeconomic and demiographic.
11. What are the Unsaturated demand for new product
benefits of global Lower labor costs
expansion from
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
MNCs' perspec- Less expensive natural resources
tive? Higher revenue or lower structure cost
12. What are the Costs
costs of global Ethical business practice (labor, safety, environment)
expansion from Organizational structure (incorporating new regions to the value chain)
MNCs' perspec- Public relations
tive? Leadership
Legal and regulatory structure
13. List five different Anarchy
political systems Monarchy
and differentiate Democracy
them. Oligarchy
Dictatorship
14. Anarchy No govt is needed - individuals control the country
15. Monarchy King or Queen rules the country or Constitutional Monarchy: Aruba & Australia
16. Democracy Citizens organize political parties. Equal voice or vote in determining policy but
government is involved
17. Oligarchy Owned by a small group of people, achieves power due to military, economic or
other powers
18. Dictatorship Single person is in charge
19. Anarchy No countries are ruled by anarchy, but some regions in Afghanistan and Somalia
20. Absolute monar- single person ruling until death, such as the United Kingdom
chy
21. Australia
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
Constitutional
monarchy
22. Oligarchy Russia, S. Korea
23. Dictatorship Libya or Germany during WWI and WWII
24. Democracy United States of America
25. List four dif- 1. Traditional Economy
ferent economic 2. Market Economy
systems 3. Command Economy
4. Mixed Economies
26. Traditional Econ- The traditional economy uses methods of trade and exchange that are passed
omy through generations. It is the oldest of the four economic systems and can still be
found in parts of South America, Africa, and Asia. Occupations, usually farming,
are passed down through generations. People live off the products of their labor.
Traditional economies have very little economic evolution or growth.
27. Market Economy In a market (decentralized) economic system, leaders make decisions based on
consumer demands. Goods and services are produced and distributed according
to the rules of supply and demand. In other words, consumers influence how
many products and services are made available through their purchasing and
usage patterns.
28. Command Econ- Communist societies use a command or centrally controlled economy. Resources
omy and businesses are owned by the government, which decides which goods and
services will be produced and what prices will be charged. North Korea and Cuba
have command economies.
29. Mixed A mixed economy borrows the following characteristics from a market economy:
Economies It protects private property, the laws of supply and demand determine prices in
a free market, and it is driven by self-interest. A mixed economy, like a command
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
1. What is globaliza- When international integration arises from the interchange of world views, prod-
tion? ucts, ideas and cultures.
2. What business Trade, transactions, capital, and investment movements. The migration and move-
opportunities are ment of people and the dissemination of knowledge.
presented by
globalization?
3. What are the eco- International movement of goods, capital, services and technology and informa-
nomic effects of tion.
globalization?
4. What are the po- Reduces importance of nation states
litical effects of
globalization?
5. What are the cul- Ideas, meanings, values. Decreased uniqueness by once-isolated communities.
tural effects of
globalization?
6. What are Access to broader market, gains access to cheap labor.
the arguments
for globalization
from a country's
perspective?
7. What are Needs to understand foreign legal and political policies.
the arguments
against global-
ization from a
country's per-
spective?
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
8. Explain the five 1. First stage (market entry),
stages of enter- Companies enter new country's using business models similar to the ones in
ing a global mar- home market.
ket. 2. Second stage (product specialization),
Companies transfer the full production process of a product to a single location.
3. Third stage (value chain disaggregation)
Desegregating the the production process and focus on completing each activity
in a better location. (different areas)
4. Fourth stage (value chain reengineering),
Companies seek to further increase their cost savings by reengineering their
production process
5. Fifth stage (creation of new markets)
Allows companies to lower their sticker prices in both new and old markets.
9. Explain Four dri- 1. Market - explain convergence of needs,
vers of globaliza- Allows companies to lower their sticker prices in both new and old markets.
tion. 2. Cost - define economies of scale and economies of scope
Refers to product development, manufacturing, and sourcing.
3. Competition - New markets, increased level of trade.
4. Government - Absence or presence of trade policies, technical standards,
policies and regulations.
10. What is the differ- Events that made the world smaller.
ence between CAGE analysis
the world is flat 1."C" is for culture - Shared beliefs, practices, norms.
view and the 2."A" is for administration - Similar country's trade with each other
CAGE analysis? 3."G" is for geography - Location
4."E" is for economic distance - Socioeconomic and demiographic.
11. What are the Unsaturated demand for new product
benefits of global Lower labor costs
expansion from
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
MNCs' perspec- Less expensive natural resources
tive? Higher revenue or lower structure cost
12. What are the Costs
costs of global Ethical business practice (labor, safety, environment)
expansion from Organizational structure (incorporating new regions to the value chain)
MNCs' perspec- Public relations
tive? Leadership
Legal and regulatory structure
13. List five different Anarchy
political systems Monarchy
and differentiate Democracy
them. Oligarchy
Dictatorship
14. Anarchy No govt is needed - individuals control the country
15. Monarchy King or Queen rules the country or Constitutional Monarchy: Aruba & Australia
16. Democracy Citizens organize political parties. Equal voice or vote in determining policy but
government is involved
17. Oligarchy Owned by a small group of people, achieves power due to military, economic or
other powers
18. Dictatorship Single person is in charge
19. Anarchy No countries are ruled by anarchy, but some regions in Afghanistan and Somalia
20. Absolute monar- single person ruling until death, such as the United Kingdom
chy
21. Australia
, WGU - D080 FVC1 Enhanced Study Guide
WGU - D080/ FVC1 Enhanced Study Guide
Study online at https://quizlet.com/_ck4p47
Constitutional
monarchy
22. Oligarchy Russia, S. Korea
23. Dictatorship Libya or Germany during WWI and WWII
24. Democracy United States of America
25. List four dif- 1. Traditional Economy
ferent economic 2. Market Economy
systems 3. Command Economy
4. Mixed Economies
26. Traditional Econ- The traditional economy uses methods of trade and exchange that are passed
omy through generations. It is the oldest of the four economic systems and can still be
found in parts of South America, Africa, and Asia. Occupations, usually farming,
are passed down through generations. People live off the products of their labor.
Traditional economies have very little economic evolution or growth.
27. Market Economy In a market (decentralized) economic system, leaders make decisions based on
consumer demands. Goods and services are produced and distributed according
to the rules of supply and demand. In other words, consumers influence how
many products and services are made available through their purchasing and
usage patterns.
28. Command Econ- Communist societies use a command or centrally controlled economy. Resources
omy and businesses are owned by the government, which decides which goods and
services will be produced and what prices will be charged. North Korea and Cuba
have command economies.
29. Mixed A mixed economy borrows the following characteristics from a market economy:
Economies It protects private property, the laws of supply and demand determine prices in
a free market, and it is driven by self-interest. A mixed economy, like a command
