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WGU D080 questions and verified answers newest review guaranteed success
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WGU D080 questions and verified answers newest review guaranteed success
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WGU D080 questions and verified answersnewest review guaranteed success
What is globalization? - ANS When international integration arises from the interchange of
world views, products, ideas, and other aspects of cultures.
different types of Globalization - ANS 1. Economic
2. Political
3. Cultural
Advantages of Economic globalization - ANS more trade, investments, information
technology, faster economic development, and increased social being
Disadvantages of Economic globalization - ANS benefits the rich at the expense of the
poor, manufacturing job loss in developed countries, environmental damage, and unethical
practices of labor
Advantages of Political globalization - ANS more cooperation amount countries, formation
of international or regional organizations, NGOs
Disadvantages of Political globalization - ANS reduce the importance of nation-states, loss
of sovereignty and power of local government
Advantages of Cultural globalization - ANS awareness of international community
Disadvantages of Cultural globalization - ANS loss of uniqueness of a country's culture
What is international business? - ANS any situation where the production or distribution of
goods or services crosses country borders
What are opportunities for international business? - ANS New and large international
markets offers possible more revenues, lower costs, and access to advanced technology
What are challenges for international business? - ANS Ethical business practice concerns,
organizational structure (create new division), public relations (build customer loyalty),
leaderships, and legal and regulatory structure
What are the 5 stages of going global? - ANS 1. Market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
, 5. creation of new markets
Market Entry - ANS Companies enter new countries using business models similar to the
ones deployed in their home markets
Product specialization - ANS Companies transfer the full production process of a particular
product line to a single, low-cost location and export the goods to various consumer markets
Value chain disaggregation - ANS Companies disaggregate the production process and
focus on completing each activity in the most advantageous location
Value chain reengineering - ANS Companies seek to further increase their cost savings by
reengineering their processes to suit local market conditions by substituting lower cost labor for
capital
Creation of new markets - ANS creates new demand due to the reduction of ticket price
What are the 4 drivers of Globalization? - ANS 1. Market
2. Cost
3. Competition
4. Government
Market - ANS Opportunity for scale and convergence of needs (foreign consumers have the
same demand as domestic consumer, no need to redesign)
Cost - ANS - Economies of scale & scope: use same production facility for multiple
procedures.
- Exploiting cost of factors of production: labor cost reductions, natural resources cost reduction
Competition - ANS New markets & increased levels of trade
Government - ANS Favorable policies, support for the industry ((can use tax bracket to
attract FDI and subsidies (free money) can help domestic business reduce cost and charge
lower price))
What did Thomas Friedman propose? - ANS The world is flat view - the use of technology
and internet has made it easier for businesses to conduct global operation
What did Ghemawat propose? - ANS The world is a multi-domestic world
What is CAGE analysis? - ANS Culture, Administration, Geography, and Economics
Culture (CAGE) - ANS Cultural difference could reduce country's trade volume
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