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BUSMHR 2000 Exam 1 Questions and Correct Answers the Latest Update and Recommended Version
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BUSMHR 2000 Exam 1 Questions and Correct Answers the Latest Update and Recommended Version
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2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!BUSMHR 2000 Exam 1 Questions and
Correct Answers the Latest Update and
Recommended Version
• Globalization
→ The trend toward increased cultural and economic connectedness between people,
businesses, and organizations throughout the world.
Global Institutions
→ (1) -Help manage, regulate, and police the global marketplace.
→ -Promote the establishment of multinational treaties to govern the global business
system.
→ - General Agreement on Tariffs and Trade (GATT), World Trade Organization
(WTO), International Monetary Fund (IMF), World Bank, United Nations (UN).
WTO
→ The World Trade Organization - an international body that enforces agreements that
reduce barriers to international trade; successor to the GATT
IMF
→ International Monetary Fund//a United Nations agency to promote trade by
increasing the exchange stability of the major currencies
International Business
→ The business activites necessary for creating, shipping, and selling goods and services
across national borders.
International firm
→ Any firm, regardless of size, that is engaged in international business
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, 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel!
MNE
→ Multinational Enterprise. a global firm that has corporate units located in foreign
countries.
Market motives
→ the motivation of a company to seize through trade and/or investment or stand it's
ground in the face of competitive international business
Economic Motives
→ the motivation to increase return through higher revenues or lower costs through
international raw materials, natural resources, a cheap labor supply for manufacturing
goods
Strategic Motives
→ the motivations leading firms overseas to capitalize on distinctive resources and
capabilities developed at home. These can include technologies and Economies of
Scale.
Economies of Scale
→ as a company produces larger numbers of a particular product, the cost of each of
these products goes down
International versus Domestic Business
→ the variations in business seen locally versus overseas including environmental dynamics
and operational nature
Environmental Dynamics
→ Currency, inflation, interest rates, accounting practices, cultures, social customs, laws,
political stability of another country
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