WGU
C211
Globalization
(peng
1,5,6,11)
global
business
-
ANSWER-business
around
the
globe
international
business
-
ANSWER-business
(firm)
that
engages
in
international
(cross
-border)
economic
activities
and
the
action
of
doing
business
abroad.
base
of
the
pyramid
-
ANSWER-part
of
the
view
of
the
global
economy
as
a
pyramid.
The
vast
majority
of
humanity ,
about
four
billion
people,
lives
at
the
base
making
less
than
$2,000
a
year
BRIC
-
ANSWER-Brazil,
Russia,
India,
China
emerging
economies
-
ANSWER-Developing
countries,
such
as
India
or
Singapore,
that
over
the
past
two
or
three
decades
have
begun
to
develop
a
strong
industrial
base.
emerging
markets
-
ANSWER-another
name
for
emerging
economies
foreign
direct
investment
(FDI)
-
ANSWER-direct
investment
in,
control,
and
management
of
value-added
activities
in
other
countries
Gross
Domestic
Product
(GDP)
-
ANSWER-A
nation's
total
output
of
goods
and
services
Gross
National
Product
(GNP)
-
ANSWER-GDP
plus
income
from
non-resident
sources
abroad
Gross
National
Income
(GNI)
-
ANSWER-GNI
is
the
term
used
by
the
W orld
Bank
and
other
international
organizations
to
supersede
the
term
GNP
but
is
the
same.
International
Business
(IB)
-
ANSWER-a
business
firm
that
engages
in
international
(cross
border)
economic
activities
and/or
the
action
of
doing
business
abroad
Multinational
Enterprise
(MNE)
-
ANSWER-a
firm
that
engages
in
foreign
direct
investment
by
directly
investing
in,
controlling,
and
managing
value-added
activities
in other
countries
Purchasing
Power
Parity
(PPP)
-
ANSWER-An
adjustment
in
gross
domestic
product
per
capita
to
reflect
dif ferences
in
the
cost
of
living
reverse
innovation
-
ANSWER-an
innovation
that
is
adopted
first
in
emerging
economies
and
then
dif fused
around
the
world.
triad
-
ANSWER-refers
to
the
developed
economies
in
the
three
regions
that
consist
of
North
America,
W estern
Europe,
and
Japan
purpose
of
studying
global
business
-
ANSWER-to
better
compete
in
the
corporate
world
that
will
require
global
expertise
and
to
enhance
your
understanding
of
what
is
going
on
in
the
global
economy
Expatriate
Manager
-
ANSWER-a
manager
who
works
in
a
country
other
than
his
or
her
home
country
Group
of
20
(G-20)
-
ANSWER-The
group
of
19
major
countries
plus
the
European
Union
(EU)
whose
leaders
meet
on
a
biannual
basis
to
solve
global
economic
problems.
international
premium
-
ANSWER-Managers
who
work
abroad
(expats)
often
command
a
significant
pay
raise
when
working
overseas
what
determines
the
success
and
failure
of
firms
around
the
globe?
-
ANSWER-institution-based
view
and
resource
based
view
Institution-based
view
-
ANSWER-Success
and
failure
of
firms
are
enabled
and
constrained
by
institutions
institutions
-
ANSWER-structures
that
define
the
rules
of
the
game
Institutional
framework
-
ANSWER-Formal
and
informal
institutions
governing
individual
and
firm
behavior
in
a
country .
liability
of
foreignness
-
ANSWER-The
inherent
disadvantage
that
foreign
firms
experience
in
host
countries
because
of
their
non-native
status.
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