Cognitive pillar Study guides, Class notes & Summaries

Cognitive pillar - the internalized (or taken-for-granted) values and beliefs that guide individual and firm behavior. Formal institutions - Institution represented by laws, regulations, and rules. Informal institutions - include norms, cultures, and ethics. Institutional framework - formal and informal institutions governing individual and firm behavior. Institution-based view - A leading perspective in global business that suggests that the success and failure of firms are enabled and c...

Base of the pyramid (BOP) Correct ans - Economies where people make less than $2,000 per capita per year. BRIC Correct ans - Brazil, Russia, India, and China. Emerging economies Correct ans - A term that has gradually replaced the term "developing countries" since the 1990s. Emerging markets Correct ans - A term that is often used interchangeably with "emerging economies." Expatriate manager Correct ans - A manager who works ...

Globalization The process by which businesses or other organizations develop international influence or start operating on an international scale Import quota A limit on the number of products in certain categories that a nation can import Emerging economy Nations with social or business activity in the process of rapid growth and industrialization Global economic pyramid Pyramid that consists of all of the world's economies, comprised of three parts New view of ...

WGU C211 Global Economics Terms Questions and Answers 100% Pass Foreign Direct Investment (FDI) - Correct Answer ️️ -Investment in, controlling, and managing value-added activities in other countries. Mercantilism/Theory of Mercantilism - Correct Answer ️️ -A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer. Strategic Trade Policy - Correct Answer ️️ -Government policy that provides companies a stra...

view that claims phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through MNE's new view that claims globalization is a long-run historical evolution since the dawn of humanity. Says it is nothing new and that it will always exist evolutionary view that claims globalization is swinging from one extreme to another from time to time pendulum investment in, controlling, and managing value-added activities in other co...

WGU C211 EXAM LATEST EXAM 300 REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS)|AGRADE Which two phrases represent the views of globalization? Choose two answers. - ANSWER- - A pendulum that swings from one extreme to another. - A competition among key financial centers and markets. What are two trade barriers? - ANSWER- - Nontariffs - Tarriffs What is the effect of tariff on a particular product for the country imposing the tariff? - ANSWER- Increases domestic product...

Foreign Direct Investment (FDI) Correct Answer Investment in, controlling, and managing value-added activities in other countries. Mercantilism/Theory of Mercantilism Correct Answer A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer. Strategic Trade Policy Correct Answer Government policy that provides companies a strategic advantage in international trade through subsidies and other supports. Transaction Risk...

3 views on globalization Globalization is when you do business internationally New, Evolutionary, and Pendulum "New" view on globalization A force sweeping through the world in recent times. Which view claims that the phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through multinational enterprises? "Evolutionary" view on globalization A long-run historical evolution since the dawn of human history "Pendulum...

Regulatory pillar The coercive power of governments (laws, regs, rules) Normative pillar Values, beliefs, and actions of other relevant players (norms, cultures, ethics) Cognitive pillar The internalized, taken-for-granted values and beliefs that guide behavior. (beliefs between right/wrong) Formal institution One that include laws, regulations and rules Informal institution One that includes norms, cultures and ethics What core propositions lie at the roo...

Views on Globalization - New, Evolutionary, and Pendulum "New" view on globalization - A force sweeping through the world in recent times. "Evolutionary" view on globalization - A long-run historical evolution since the dawn of human history "Pendulum" view on globalization - One that swings from one extreme to another from time to time Foreign Direct Investment - Direct investment in, control, and management of value-added activities in other countries Political views on FD...