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Global Business
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Exam study book Global Business of Mike W. Peng - ISBN: 9789814844703 (Global Business)
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Solution Manual for Global Business, 5th Edition by PengMike, Verified Chapters 1 - 17, Complete Newest Version
Multinational Enterprise - ANSWER: Firm that participates in FDI (Foreign Direct
Investment)
Foreign Direct Investment (FDI) - ANSWER: Investment in, controlling, and managing
value-added activities in other countries
Global Business - ANSWER: Business around the globe (Both international and
domestic)
Negatives of MNE - ANSWER: -Possible negative economic and/or environmental
impact in foreign markets
-Possible negative economic impact in home country due to outsourcing jobs
Institution-based view - ANSWER: Formal and informal rules of the game
Resource based view - ANSWER: Firm Specefic resources and capabilities
What determines the success and failure of firms around the globe - ANSWER: Step
2- institution based view
Step 3- resource based view
Formal rules - ANSWER: Laws and regulations
Informal Rules - ANSWER: cultures, ethics, and norms play an important part in
shaping the success and failure of firms around the globe
What entities in an institution based view? - ANSWER: Laws, regulations, EU, World
Trade Org, US-Mexico-Canada-Agreement (USMCA)
What is Resources based view - ANSWER: -Firms take advantage of opportunities
using current resources in a new way rather than acquiring new skills for each
different oppurntunity
Globalization - ANSWER: The close intergration of countries and peoples of the world
Three major views of Globalization - ANSWER: -A new force sweeping through the
world in recent times
- A long-run historical evolution since the dawn of human history
- A pendulum that swings from one extreme to another from time to time
Emerging economies - ANSWER: Term that replaced the term "developing countries"
, BRIC - ANSWER: Brazil, Russia, India, China
BRICS - ANSWER: Brazil, Russia, India, China, South Africa
Reverse Innovation - ANSWER: Innovation that is adopted first in emerging
economies then diffused around the world
Risk Management - ANSWER: Indentification and assesment fo risks and the
preparation to minimize the impact of high-risk, unfortunate events
Black Swan Events - ANSWER: An unpredictable event that is beyond what is
normally expected and has severe consequences (COVID-19)
Semi Globalization - ANSWER: Perspective thats uggest barriers to market
integration at borders are high, but not high enough to insulate countries from each
other completely
GDP - ANSWER: The sum of value added by resident firms, households, and
governments operating in a economy
PPP (Purchasing power Parity) - ANSWER: A conversion that determines the
equivalent amount of goods and services that different currencies can purchase
GNP (Gross national Product) - ANSWER: GDP plus income from nonresident sources
abroad (Foreign)
GNI (Gross National Income) - ANSWER: Term used by the World Bank, to supersede
the term GNP, means the same thing as GNP
Democracy - ANSWER: A political system in which the supreme power lies in a body
of citizens who can elect people to represent them
Totalitarianism (dictatorship) - ANSWER: One person or party has absolute political
control over the population
Authoritariansim - ANSWER: A political system in which political plurality is
undermined and concentrated government power is imposed
Communism - ANSWER: Government owns and controls all major factors of
production
-employee unions exsist but controlled by the state
-individual righst give way to collectivist rights
Socialism - ANSWER: Ideology where government/state plays a strong role in the
economy and may own stakes in certain businesses
-Different classes exist, wants to share the wealth among classes
-disparities in income are less severe than in capatalism
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