Exam (elaborations)
Finals Study Guide 6531
Finals Study Guide 6531
[Show more]
Seller
Follow
Content preview
D080 study for OAWhat is globalization? - ANS-as international integration arising from the exchange of
world views, products, ideas, and other aspects of culture.
What is Culture Globalization? - ANS-refers to the transmission of ideas, meanings, and
values around the world in such a way that extends and intensifies social relations.
What is Political Globalization? - ANS-Refers to the emergence of an increasing number
of global institutions such as the growth of both intergovernmental organizations and
nongovernmental organizations
What is Economic Globalization? - ANS-A process of increasing cross-border flows of
capital, goods, services, and people
What is International Business? - ANS-the buying, selling, and trading of goods and
services across national boundaries
What is intellectual property? - ANS-a work or invention that is the result of creativity,
such as a manuscript or a design, to which one has rights and for which one may apply
for a patent, copyright, trademark, etc.
What is the FIRST stage of going global? - ANS-Market entry- companies enter new
countries using business models similar to the ones deployed in their home markets. To
gain access to local customers, however, companies often need to establish a
production presence, either because of the nature of their businesses, such as
in-service industries like food, retail, or banking, or because of local countries' regulatory
restrictions, such as in the auto industry.
What is the SECOND stage of going global? - ANS-Product Specialization- companies
transfer the full production process of a particular product to a single, low-cost location
and export the goods to various consumer markets. In this scenario, different locations
begin to specialize in different products or components and trade in finished goods.
What is the THIRD stage of going global? - ANS-value chain disaggregation- represents
the next step in the company's globalization of the supply chain infrastructure. In this
stage, companies disaggregate the production process and focus on completing each
activity in the most advantageous location. Individual components of a single product
might be manufactured in several different places and assembled into final products
,elsewhere. Examples include the PC industry market and the decision by companies to
offshore some of their business processes and information technology services.2
What is the FOURTH stage of going global? - ANS-Value chain reengineering-
companies seek to further increase their cost savings by reengineering their processes
to suit local market conditions by substituting lower cost labor for capital. General
Electric's (GE) medical equipment division, for example, has tailored its manufacturing
processes abroad to take advantage of low labor costs. Not only does it use more
labor-intensive production processes, but it also designs and builds the capital
equipment for its local plants
What is the FIFTH stage of going global? - ANS-creation of new markets- the focus is
on market expansion. This allows companies to substantially lower their sticker prices in
both old and new markets and to expand demand. Significantly, the value of new
revenues generated in this last stage is often greater than the value of cost savings in
the other stages.
What are Globalization drivers? - ANS-*Market
*Cost
*Competition
*Government
What is a market globalization driver? - ANS-Opportunity for scale
Convergence of needs
What is a cost globalization driver? - ANS-Deals with economies of scale and scope,
Exploiting cost of factors of production
What is a competitive driver in globalization? - ANS-new markets
increase levels of trade
What is a government driver in globalization? - ANS-favorable policies
support for industry
What is economies of scale? - ANS-when the average cost of producing a good or
service falls as the quantity produced increases
What is economies of scope? - ANS--Lowering the initial price of production
-Multi-product production
, What are some issues that can arise when a company moves to another country? -
ANS-Ethical issues, governmental policies, and economic restrictions are all likely when
a company moves into an unfamiliar global space. A multinational company may also
face infrastructural and technological challenges in a developing country.
What is Anarchism? - ANS-which contends that individuals should control political
activities, and public government is both unnecessary and unwanted.
What is Totalarianism? - ANS-which contends that every aspect of an individual's life
should be controlled and dictated by a strong central government.
What is Pluralism? - ANS-which asserts that both public and private groups are
essential in a well-functioning political system. Although most countries are pluralistic
politically, they may lean more to one extreme than to the other.
What is a Authoritarian government? - ANS-centralize all control in the hands of one
strong leader or a strong small group of leaders who have full authority. These leaders
are not democratically elected and are not politically, economically, or socially
accountable to the people in the country.
What is a Monarchy? - ANS-A single person rules until he or she dies or abdicates the
throne.
Power can vary by type: absolute, constitutional, or a mix of both.
What is Oligarchy? - ANS-A small, elite group holds power
Status not achieved through noble ancestry
What is dictatorship? - ANS-A single person (or a very small group of people) holds
power.
Wields complete and absolute authority over a government and population.
What is a democracy? - ANS-Citizens organize political parties and elect leaders
Leaders power organized through constitution and term limits
What government do other countries favor in terms of having a high success rate? -
ANS-Authoritarian
What are the classifications of economic growth in countries? - ANS-industrialized,
developing, and less-developed nations.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.27. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77764 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now