BUS 390 Midterm GCU fully solved
& updated
Drivers of Globalization - answer Politics, Technology, Market, Costs,
Competition
Controllable Forces - answer Management can control ex: HR,
marketing, production
Uncontrollable Forces - answer management can't control ex:
economics, legal, socioeconomics
External Forces - answer uncontrollable forces
Internal Forces - answer Controllable Forces
Environments - answer Foreign, domestic, international
Exporting - answer producing goods in one country and selling them
in another
Importing - answer buying products domestically that have been
produced or grown in foreign nations
foreign business - answer The operations of a company outside its
home or domestic market
international business - answer all business activities that involve
exchanges across national boundaries
, Foreign Direct Investment (FDI) - answer Direct investment in
business operations in a foreign country
Association of Southeast Asian Nations (ASEAN) - answer a trade
alliance that promotes trade and economic integration among
member nations in Southeast Asia
Bretton Woods - answer An international conference in New
Hampshire in July 1944 that established the World Bank and the
International Monetary Fund (IMF). They came together because
they didn't want another world war
European Union (EU) - answer An economic association established
in 1957 by a number of Western European countries to promote free
trade among its members
Common Market - answer agreement of a group of countries that act
as a single market, without trade barriers between member
countries
Customs Union - answer A group of countries committed to (1)
removing all barriers to the free flow of goods and services between
each other and (2) the pursuit of a common external trade policy.
Economic Integration - answer -an economic arrangement between
different regions
-put in place to reduce/eliminate trade barriers, and the
coordination of monetary and fiscal policies.
-purpose is to reduce costs for both consumers and producers, as
well as to increase trade between the countries taking part in the
agreement.
Free Trade Area (FTA) - answer Area in which tariffs among members
have been eliminated, but members keep their external tariffs
& updated
Drivers of Globalization - answer Politics, Technology, Market, Costs,
Competition
Controllable Forces - answer Management can control ex: HR,
marketing, production
Uncontrollable Forces - answer management can't control ex:
economics, legal, socioeconomics
External Forces - answer uncontrollable forces
Internal Forces - answer Controllable Forces
Environments - answer Foreign, domestic, international
Exporting - answer producing goods in one country and selling them
in another
Importing - answer buying products domestically that have been
produced or grown in foreign nations
foreign business - answer The operations of a company outside its
home or domestic market
international business - answer all business activities that involve
exchanges across national boundaries
, Foreign Direct Investment (FDI) - answer Direct investment in
business operations in a foreign country
Association of Southeast Asian Nations (ASEAN) - answer a trade
alliance that promotes trade and economic integration among
member nations in Southeast Asia
Bretton Woods - answer An international conference in New
Hampshire in July 1944 that established the World Bank and the
International Monetary Fund (IMF). They came together because
they didn't want another world war
European Union (EU) - answer An economic association established
in 1957 by a number of Western European countries to promote free
trade among its members
Common Market - answer agreement of a group of countries that act
as a single market, without trade barriers between member
countries
Customs Union - answer A group of countries committed to (1)
removing all barriers to the free flow of goods and services between
each other and (2) the pursuit of a common external trade policy.
Economic Integration - answer -an economic arrangement between
different regions
-put in place to reduce/eliminate trade barriers, and the
coordination of monetary and fiscal policies.
-purpose is to reduce costs for both consumers and producers, as
well as to increase trade between the countries taking part in the
agreement.
Free Trade Area (FTA) - answer Area in which tariffs among members
have been eliminated, but members keep their external tariffs
