WGU C211 Globalization (peng 1,5,6,11) Practice Exam Question |100% Correct|

WGU C211 Globalization (peng 1,5,6,11) Practice Exam Question |100% Correct| global business *Ans* business around the globe international business *Ans* business (firm) that engages in international (cross -border) economic activities and the action of doing business abroad. base of the pyramid *Ans* part of the view of the global economy as a pyramid. The vast majority of humanity, about four billion people, lives at the base making less than $2,000 a year BRIC *Ans* Brazil, Russia, India, China emerging economies *Ans* Developing countries, such as India or Singapore, that over the past two or three decades have begun to develop a strong industrial base. emerging markets *Ans* another name for emerging economies foreign direct investment (FDI) *Ans* direct investment in, control, and management of value-added activities in other countries Gross Domestic Product (GDP) *Ans* A nation's total output of goods and services Gross National Product (GNP) *Ans* GDP plus income from non-resident sources abroad Gross National Income (GNI) *Ans* GNI is the term used by the World Bank and other international organizations to supersede the term GNP but is the same. International Business (IB) *Ans* a business firm that engages in international (cross border) economic activities and/or the action of doing business abroad Multinational Enterprise (MNE) *Ans* a firm that engages in foreign direct investment by directly investing in, controlling, and managing value-added activities in other countries Purchasing Power Parity (PPP) *Ans* An adjustment in gross domestic product per capita to reflect differences in the cost of living reverse innovation *Ans* an innovation that is adopted first in emerging economies and then diffused around the world. triad *Ans* refers to the developed economies in the three regions that consist of North America, Western Europe, and Japan purpose of studying global business *Ans* to better compete in the corporate world that will require global expertise and to enhance your understanding of what is going on in the global economy Expatriate Manager *Ans* a manager who works in a country other than his or her home country Group of 20 (G-20) *Ans* The group of 19 major countries plus the European Union (EU) whose leaders meet on a biannual basis to solve global economic problems. international premium *Ans* Managers who work abroad (expats) often command a significant pay raise when working overseas what determines the success and failure of firms around the globe? *Ans* institution-based view and resource based view Institution-based view *Ans* Success and failure of firms are enabled and constrained by institutions institutions *Ans* structures that define the rules of the game Institutional framework *Ans* Formal and informal institutions governing individual and firm behavior in a country. liability of foreignness *Ans* The inherent disadvantage that foreign firms experience in host countries because of their non-native status. Globalization *Ans* the process by which businesses or other organizations develop international influence or start operating on an international scale. Risk Management *Ans*