WGU C211|67 Study Guide Questions And Answers

Views of globalization (Chp 1.4) - ️️1. It's a new phenomenom, starting in the late 20th century. 2. It's a long term part of human history. 3. Neither recent nor one directional, it's a pendulum that swings back and forth. Strategic goal = Natural resource—seeking - ️️Location specific advantage = Possession of natural resources and related transport and communication infrastructure Strategic goal = Market-seeking - ️️Location specific advantage = Abundance of strong market demand and customers willing to pay Strategic goal = Efficiency-seeking - ️️Location specific advantage = Economies of scale and abundance of low-cost factors Strategic goal = Innovation-seeking - ️️Location specific advantage = Abundance of innovative individuals, firms, and universities Name first mover advantages: (Chp 10.3) - ️️1. Proprietary, technological leadership 2. Pre-emption of scarce resources 3. Establishment of entry barriers for late entrants 4. Avoidance of clash with dominant firms at home 5. Relationships with key stakeholders such as governments Name late mover advantages: (Chp 10.3) - ️️1. Opportunity to free ride on first-mover investments 2. Resolution of technological and market uncertainty 3. First mover's difficulty to adapt to market changes