Exam (elaborations)
WGU Global Business FVC1 V2 and D080 Module 1-4.
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- NR 509 Final Exam
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- NR 509 Final Exam
WGU Global Business FVC1 V2 and D080 Module 1-4.
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WGU Global Business FVC1 V2 and D080Module 1-4
What is globalization? - ANS-i
international integration arises from the interchange of world views, products, ideas, and
other aspects of culture.
What are the economic effects of globalization - ANS-Trade
Investment
Information Technology
What are the political effects of globalization - ANS-Recue the importance of
nation-states
NGOs
What are the cultural effects of globalization - ANS-Transmission of ideas, meanings,
and values around the world.
What is International Business - ANS-Relates to any situation where the production or
dist og goods and svcs crosses country borders
Opportunity is boosted in globalization as trade and investment barriers are reduced
What are the different forms of international business - ANS-Organizations
Government Organizations
NGOs (Non-Government Org)
What is the 1st stages of going Global - ANS-Market Entry-Companies enter new
countries using business models similar to the ones deployed in their home markets.
What is the 2nd 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.
What is the 3rd stage of going Global - ANS-(value chain disaggregation) represents the
next step in the company's globalization of the supply chain infrastructure; companies
disaggregate the production process and focus on completing each activity in the most
advantageous location.
, What is the 4th 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.
What is the 5th stage of going Global - ANS-(creation of new markets), the focus is on
market expansion.
4 Industry Globalization Drivers - ANS-1. Market Opportunities - opportunity for scale
and scope; Convergence of needs
2.Cost Drivers-Economies of scale and scope; Exploiting cost of factors of production
3. Competitive Drivers- New Markets and increased level of trade
4. Government Drivers- Favorable Policies; Support for industries
Benefits of Global Expansion - ANS-Larger Markets
Lower Costs
Advanced technologies
Challenges of Global Expansion - ANS--Ethical business concerns
-Organizational structure
-Public Relations
-Leadership
-Legal and regulatory structure
Pros of Globalization - ANS--Economic Growth
-Increased well-being of human society
-increased trade and investment
Cons of Globalization - ANS--Benefits the rich at the expense of the poor
-Job loss in developed countries
-Environmental damage and unethical practices of labor
-Loss of power of local government
Globalization 1.0 - ANS-1st Stage of globalism started with Columbus's discovery of the
New World and continued from 1492 to about 1800 and is pushed forward by
nationalism and religion.
Globalization 2.0 - ANS-2nd stage of globalization 1800 to 2000, was disrupted by the
Great Depression and both world wars and was largely shaped by the emerging power
of huge MNCs and is characterized by advances in methods of transportation.
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