WGU D080 Managing in a Global Business
Environment Questions and Answers latest Update
| 100% Correct
The key element of globalization is interdependence and interconnectedness
among companies and countries around the globe. Globalism is characterized by
an increasing number of worldwide connections, rapid and discontinuous change,
an increasing number of diverse participants, and growing complexity.
What is globalization?
economic: developed economies integrating with developing countries through
foreign direct investment, lowering the costs of doing business, reducing trade
barriers, and, in many cases, increasing cross-border migration.
political: globalization may ultimately reduce the importance of nation-states.
cultural: The spread of culture has added to processes such as commodity
exchange and colonization, which have a more extended history of carrying
cultural meaning around the globe. The circulation of cultures enables individuals
to partake in extended social relations that cross national and regional borders.
What are the economic, political, and cultural effects of globalization?
any nonprofit, voluntary citizens' groups that are organized on a local, national, or
international level
What is nongovernmental organization and how does it impact government
public policy across national boundaries?
International business encompasses a full range of cross-border exchanges of
goods, services, or resources across two or more nations. These exchanges can go
beyond the exchange of money for physical goods to include international
transfers of other resources such as people; intellectual property such as patents,
copyrights, brand trademarks, and data; and contractual assets or liabilities. Such
assets or liabilities include the right to use some foreign asset, provide some
future service to overseas customers, or execute a complex financial instrument.
The entities involved in international business range from large multinational
firms with thousands of employees doing business in many countries to a small
,one-person company acting as an importer or exporter. This broader definition of
international business also encompasses for-profit, border-crossing transactions
as well as transactions motivated by nonfinancial gains.
What are the features of international business?
- Exporting
- franchising
- joint ventures
- home-owned affiliates
- fully global ventures
What are the different forms of international business? Explain each form.
1. market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
What are the 5 stages of entering a global market? Explain each stage
market, cost, competition, government
What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower labor costs, less expensive natural
resources, and other inputs to products.
What are the benefits and costs of global expansion from MNCs' perspective?
1.0: the first stage of globalism and is pushed forward by nationalism and religion.
2.0: the second stage of globalization and is characterized by advances in
methods of transportation.
3.0: the third stage of globalization and is characterized by advancements across
the board, especially technology and communication.
What are the characteristics of each stage of globalization?
Ethical issues, governmental policies, and economic restrictions are all likely when
a company moves into an unfamiliar global space. A multinational company may
also face infrastructural and technological challenges in a developing country.
,What are the criticisms of globalization?
There are more than 13 major types of government, each of which consists of
multiple variations. At one end of the extremes of political ideologies is
anarchism, which contends that individuals should control political activities, and
public government is both unnecessary and unwanted. At the other extreme is
totalitarianism, which contends that every aspect of an individual's life should be
controlled and dictated by a strong central government.
Totalitarianism
Authoritarian
Monarchy
Democracy
Oligarchy
Dictatorship
What are different types of governments? Explain
Local policies, rules, and regulations can have a significant effect on the success
rate of a business. Depending on how long a company expects to operate in a
country and how easy it is for business to enter and exit, a firm may also assess
the country's political risk and stability.
What impacts does a political system have on international trade and business?
- Industrialized nations have economies characterized by a healthy climate for
private enterprise (business) and by a consumer orientation, meaning the
business climate focuses on meeting consumers' long-term wants and needs.
- Less-developed nations, also known as least-developed countries (LDCs), have
extensive poverty, low per capita income and standards of living, low literacy
rates, and minimal technology.
- Developing nations are those that make the transition from economies based on
agricultural and raw materials production to industrialized economies.
What are the features of industrialized, less-developed, and developing nations?
- Traditional economies are found in rural countries where the primary
occupation is farming.
- In a command economy found in a communist country, most of the economic
system is controlled by a centralized power.
, - In a planned economy found in a socialist country, the factors of production are
used for the common good.
- In an open economy, a democratic method is used to determine how to use the
factors of production.
- A market economy is a decentralized economy in which firms and households
determine how resources are allocated based on how best to satisfy their needs.
- A mixed economy has less government intervention than a command economy.
Supply and demand control the economy, and ideally, the government steps in
when needed.
What are different economic systems and how to differentiate them?
- Communisim is a system in which all property is publicly owned and the
government controls global trade
- Social ownership, central control of the means of production, and a cooperative
approach toward management of the economy are hallmarks of socialism.
- Capitalism is generally considered to be an economic system based on private
ownership of the means of production and on the creation of goods or services
for profit by privately owned business enterprises.
What is communism, socialism, and capitalism?
- civil law system is an inquisitorial system where the investigating judge
investigates the facts of the case. It is the most widespread legal system in the
world.
- Common law is based on traditions and precedence and can be traced to the
English monarchy. In common law systems, judges interpret the law, and judicial
rulings can set precedent.
- Religious law is also known as theocratic law and is based on religious guidelines.
Explain and differentiate common, civil, and theocratic legal systems.
- The IMF helps maintain liquidity of global funding by providing a straight-
forward method for nations to borrow and loan to each other through a
mechanism called the special drawing right.
- The World Bank's priorities are to help build sustainable economic growth,
invest in people, and build resilience for shocks and threats.
- WTO reviews the trade policies of all nations to ensure that each country is
Environment Questions and Answers latest Update
| 100% Correct
The key element of globalization is interdependence and interconnectedness
among companies and countries around the globe. Globalism is characterized by
an increasing number of worldwide connections, rapid and discontinuous change,
an increasing number of diverse participants, and growing complexity.
What is globalization?
economic: developed economies integrating with developing countries through
foreign direct investment, lowering the costs of doing business, reducing trade
barriers, and, in many cases, increasing cross-border migration.
political: globalization may ultimately reduce the importance of nation-states.
cultural: The spread of culture has added to processes such as commodity
exchange and colonization, which have a more extended history of carrying
cultural meaning around the globe. The circulation of cultures enables individuals
to partake in extended social relations that cross national and regional borders.
What are the economic, political, and cultural effects of globalization?
any nonprofit, voluntary citizens' groups that are organized on a local, national, or
international level
What is nongovernmental organization and how does it impact government
public policy across national boundaries?
International business encompasses a full range of cross-border exchanges of
goods, services, or resources across two or more nations. These exchanges can go
beyond the exchange of money for physical goods to include international
transfers of other resources such as people; intellectual property such as patents,
copyrights, brand trademarks, and data; and contractual assets or liabilities. Such
assets or liabilities include the right to use some foreign asset, provide some
future service to overseas customers, or execute a complex financial instrument.
The entities involved in international business range from large multinational
firms with thousands of employees doing business in many countries to a small
,one-person company acting as an importer or exporter. This broader definition of
international business also encompasses for-profit, border-crossing transactions
as well as transactions motivated by nonfinancial gains.
What are the features of international business?
- Exporting
- franchising
- joint ventures
- home-owned affiliates
- fully global ventures
What are the different forms of international business? Explain each form.
1. market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
What are the 5 stages of entering a global market? Explain each stage
market, cost, competition, government
What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower labor costs, less expensive natural
resources, and other inputs to products.
What are the benefits and costs of global expansion from MNCs' perspective?
1.0: the first stage of globalism and is pushed forward by nationalism and religion.
2.0: the second stage of globalization and is characterized by advances in
methods of transportation.
3.0: the third stage of globalization and is characterized by advancements across
the board, especially technology and communication.
What are the characteristics of each stage of globalization?
Ethical issues, governmental policies, and economic restrictions are all likely when
a company moves into an unfamiliar global space. A multinational company may
also face infrastructural and technological challenges in a developing country.
,What are the criticisms of globalization?
There are more than 13 major types of government, each of which consists of
multiple variations. At one end of the extremes of political ideologies is
anarchism, which contends that individuals should control political activities, and
public government is both unnecessary and unwanted. At the other extreme is
totalitarianism, which contends that every aspect of an individual's life should be
controlled and dictated by a strong central government.
Totalitarianism
Authoritarian
Monarchy
Democracy
Oligarchy
Dictatorship
What are different types of governments? Explain
Local policies, rules, and regulations can have a significant effect on the success
rate of a business. Depending on how long a company expects to operate in a
country and how easy it is for business to enter and exit, a firm may also assess
the country's political risk and stability.
What impacts does a political system have on international trade and business?
- Industrialized nations have economies characterized by a healthy climate for
private enterprise (business) and by a consumer orientation, meaning the
business climate focuses on meeting consumers' long-term wants and needs.
- Less-developed nations, also known as least-developed countries (LDCs), have
extensive poverty, low per capita income and standards of living, low literacy
rates, and minimal technology.
- Developing nations are those that make the transition from economies based on
agricultural and raw materials production to industrialized economies.
What are the features of industrialized, less-developed, and developing nations?
- Traditional economies are found in rural countries where the primary
occupation is farming.
- In a command economy found in a communist country, most of the economic
system is controlled by a centralized power.
, - In a planned economy found in a socialist country, the factors of production are
used for the common good.
- In an open economy, a democratic method is used to determine how to use the
factors of production.
- A market economy is a decentralized economy in which firms and households
determine how resources are allocated based on how best to satisfy their needs.
- A mixed economy has less government intervention than a command economy.
Supply and demand control the economy, and ideally, the government steps in
when needed.
What are different economic systems and how to differentiate them?
- Communisim is a system in which all property is publicly owned and the
government controls global trade
- Social ownership, central control of the means of production, and a cooperative
approach toward management of the economy are hallmarks of socialism.
- Capitalism is generally considered to be an economic system based on private
ownership of the means of production and on the creation of goods or services
for profit by privately owned business enterprises.
What is communism, socialism, and capitalism?
- civil law system is an inquisitorial system where the investigating judge
investigates the facts of the case. It is the most widespread legal system in the
world.
- Common law is based on traditions and precedence and can be traced to the
English monarchy. In common law systems, judges interpret the law, and judicial
rulings can set precedent.
- Religious law is also known as theocratic law and is based on religious guidelines.
Explain and differentiate common, civil, and theocratic legal systems.
- The IMF helps maintain liquidity of global funding by providing a straight-
forward method for nations to borrow and loan to each other through a
mechanism called the special drawing right.
- The World Bank's priorities are to help build sustainable economic growth,
invest in people, and build resilience for shocks and threats.
- WTO reviews the trade policies of all nations to ensure that each country is
