International Business Final Exam with complete solutions
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Course
International Business
Institution
International Business
Define Globalization
A trend towards greater economical, cultural, political and technological interdependence.
What happens when denationalization occurs?
National boundaries become less important.
What is the difference between denationalization and internationalization?
The natu...
International Business Final Exam with
complete solutions
Define Globalization - ANSWER-A trend towards greater economical, cultural, political
and technological interdependence.
What happens when denationalization occurs? - ANSWER-National boundaries
become less important.
What is the difference between denationalization and internationalization? - ANSWER-
The nature of interdependent relations. Denationalization = outgrowing national borders.
They cooperate for their well being. Internationalization = source of interdependence
comes from pressure.
What is meant by the Globalization of Markets? - ANSWER-The convergence of buyer
preferences, emergences of global producers, new market opportunities.
Globalization of Markets helps in... - ANSWER-Marketing and Production
What is the Globalization of Production? - ANSWER-Producing at locations where it is
low cost of quality maximizing. (Access to low cost workers, access expertise)
Globalization of production efficiency lowers... - ANSWER-Costs of production
Name 3 factors causing Globalization. - ANSWER-(1) Falling barriers to investment and
trade
(2) Technological innovations
(3) Increase in Global Competition
What is the WTO? - ANSWER-A contract between member nations to maintain fair and
open trade policies.
,What are the 3 goals of the WTO? - ANSWER-(1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation - ANSWER-(1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
Globalization impacts countries through....(5) - ANSWER-(1) Jobs and Wages
(2) Income inequality
(3) Labor and environment
(4) National sovereignty
(5) Culture
3 points to support "Globalization costs Jobs and lowers wages" - ANSWER-(1)
Eliminates Jobs in developed nations
(2) Wages lower in developed nations
(3) Exploits workers in developing nations
3 points to support "Globalization creates jobs and boosts wages" - ANSWER-(1)
Increases wealth and efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization. - ANSWER-(1) Inequality within
nations
(2) between nations
(3) Global inequality
Name 2 key players in International Business - ANSWER-International corporations,
entrepreneurs and small businesses
Multinational corporations are important in Globalization because... - ANSWER-They
employ many people
,Entrepreneurs are important in Globalization because... - ANSWER-They are more
active in international business (because of technology)
What is culture? - ANSWER-Backgrounds, assumptions, expectation, ways of
communication, values beliefs, rules.
Define ethnocentricity. - ANSWER-The belief that one's culture is superior to anothers.
Define Cultural Literacy. - ANSWER-Knowledge and understanding of anothers culture
which helps improve collaborative work.
What is National Culture? - ANSWER-Mostly linked to national territory. Governments
try to promote this.
What is subculture? - ANSWER-Groups of people who share unique ways of life within
a larger, dominant culture. Sometimes exists across national borders.
Define culture. - ANSWER-Set of values, beliefs, rules and institutions help by a specific
group of people.
What are 4 aspects in creating a Global-Mind-Set? - ANSWER-(1) Cultural Adaptibility
(2) Bridging the gap
(3)Building global mentaility
(4) Flexibility
Name 5 aspects of culture to consider when launching a product. - ANSWER-(1)
Aesthetics
(2) Social structure
(3) Values and attitudes
(4) Manners and customs
(5) Physical environments
Name 2 components of Aesthetics. - ANSWER-Symbols and colours, and wording.
Name 3 types of attitudes towards.......that can affect business (cultural aspects) -
ANSWER-(1) Time
(2) Work
, (3) Cultural change
Define Manners - ANSWER-Manners are appropriate ways of behaving, speaking,
dressing.
Define Customs - ANSWER-Customs are habits or ways of behaving which are passed
down through generations.
Name 3 important elements that differ across cultures. (Social ____(1,2,3)_____. -
ANSWER-Social Group, Social Status, Social Mobility.
Name 2 types of communication that can be misinterpreted - ANSWER-(1) Spoken
language
(2) Body Language
Name 6 aspects of the Kluckhohn-Strodtbeck Framework. - ANSWER-(1) Relation to
Nature
(2) Material or spiritual
(3) Time orientation
(4) Responsibility to others
(5) Trust and Control
(6) VIew of personal space
Name the 4 points of examining culture for the Hofstede Framework. - ANSWER-(1)
Individualism vs. Collectivism
(2) Power Distance
(3) Uncertainty avoidance
(4) Achievement vs. Nurturing
Define Political Systems - ANSWER-Structure, Processes, and Activities by which a
nation governs itself.
What are the extreme right, middle and left political ideologies? - ANSWER-
Totalitarianism
Pluralism
Anarchism
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