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Exam (elaborations)

BUS 200 Exam 1 Study Deck * in progress || 100% correct solutions.

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  • Course
  • BUS 200
  • Institution
  • BUS 200

Globalization correct answers as processes by which products, people, companies, money and information are able to move quickly around the world as decision makers desire, with few cross-border impediments in their way. push factors (home market) correct answers drives the company out of its hom...

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  • August 14, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUS 200
  • BUS 200
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BUS 200 Exam 1 Study Deck * in progress || 100% correct
solutions.
Globalization correct answers as processes by which products, people, companies, money and
information are able to move quickly around the world as decision makers desire, with few
cross-border impediments in their way.

push factors (home market) correct answers drives the company out of its home country or
other countries where it currently does business.


-unemployment, lack of safety, lack of services, more efficient production, access to
technology and skills

pull factors (target market) correct answers attract the company to a foreign location

-potential for employment, a safer environment, greater wealth, fertile land

Why business globalize: correct answers Seek new customers

Seek to get away from competition *go to markets where markets aren't existing or where the
market is weak

Seek cheaper cost production * cheap labor, energy, transportation (distribution cost)


Following global customers * remember: companies who make paint for automotive
companies, the paint company would build a factory next to the car factory.

Saturation of market, start new curved function correct answers market starts to decline and
sales go down and profitability goes down

Which markets should a company enter? correct answers -Market Size (# of customers you
can realistically target, demographic/ potential market)

Market Homogeneity correct answers if buyers have the same tastes, buy a product in the
same amounts, and react the same way to marketing efforts, undifferentiated marketing is
appropriate

(lots of potential customers)

Consumer preferences vs. Product offering correct answers Do they align?

heterogeneity (united states)* correct answers

Geography correct answers Can you get your products in/ and out?

Is it logical to transport?

, Political/Legal System correct answers Is it stable? is it business friendly?

PESTLE analysis correct answers Political,
Economic,
Social,
Technological,
Legal,
Environmental

Globalization Modes of Entry

EXAMPLES OF EACH correct answers Sequencing, as you go up, its more risky and more
commitment, but potential for great reward.

lowest risk exporting

Production under license
-franchising
-outsourcing

foreign direct investment (more risk)
-acquisition
-greenfield

Market Categorization correct answers

What is industrialization? correct answers poverty vs. wealth within single market

What are developed countries? correct answers focused on the service industry???

The US, Australia, Germany, Sweden

Least Developed Countries correct answers Least developed countries are primary producers

Afghanistan, chad, Bangladesh, Cambodia

What are developing countries? correct answers Increased levels of industrialization

a poor agricultural country that is seeking to become more advanced economically and
socially.

Poland, Albania, Turkey, Ukraine

Emerging Economies (BRIC countries) correct answers BRIC: Brazil, Russia, India, China


what least developed, developed, and developed countries are. Be able to least examples that
are not the BRICs.

Economic Indicators correct answers -national wealth

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