- Study guides, Class notes & Summaries

Globalization correct answerstrend away from distinct natural economic units and toward one huge global market Globalization of Markets correct answerstrend moving away from distinct national markets, toward a system where national markets are moving towards one global market Globalization of Production correct answerstrend by firms to disperse parts of their production process across the globe to minimize costs and maximize quality Factors of Production correct answersinputs into the p...

-

10 pages

Written in 2024/2025

Grade A+

HopeJewels

Business ethics correct answersaccepted principles of right or wrong governing the conduct of business people Ethical strategy correct answersA course of action that does not violate a company's business ethics Ethical Issues in International Business correct answersEmployment practices Human Rights Environmental pollution Foreign Corrupt Practices Act correct answersUS law regulating behavior regarding the conduct of international business in the taking of bribes and other uneth...

-

10 pages

Written in 2024/2025

Grade A+

HopeJewels

levels of economic integration (in order of increasing integration) correct answers1. free trade area 2. customs union 3. common market 4. economic union 5. political union free trade area correct answersall barriers to the trade of goods and services among member countries are removed (NAFTA) customs union correct answerseliminates trade barriers between member countries and adopts common external trade policy ex.) Andean community common market correct answersno barriers betwee...

-

8 pages

Written in 2024/2025

Grade A+

HopeJewels

Why Do Firms Internationalize? correct answers1. Expand the market for their domestic product offerings by selling those products in international markets -Leveraging core competencies: skills within the firm that competitors cannot easily imitate 2. Realize location economies by dispersing individual value creation activities to locations around the globe where they can be performed most efficiently and effectively 3. Realize greater cost economies from experience effects by serving an expan...

-

3 pages

Written in 2024/2025

Grade A+

HopeJewels

International Business correct answersBusiness activities that involve the transfer of resources (raw materials, capital, and people), goods (semi-finished and finished assembly products), services, skills (including property rights), or information across national boundaries Globalization correct answersthe shift towards a more integrated and interdependent world economy The two key facets of globalization are: correct answers-The globalization of markets -The globalization of production...

-

11 pages

Written in 2024/2025

Grade A+

HopeJewels

What are adaptation strategies? Type of firms? correct answersAdjusting to differences across countries e.g. firms with high advertising-to-sales ratio What are aggregation strategies? Type of firms? correct answersOvercoming some differences among countries by grouping them based on similarities e.g., firms with high R&D-to-sales ratio What are arbitrage strategies? Type of firms? correct answersExploiting selected differences across countries instead of treating them all as constraints e...

-

13 pages

Written in 2024/2025

Grade A+

HopeJewels