The key element of globalization is What is globalization?
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.
economic: developed economies integrating What are the economic, political, and cultural effects of
with developing countries through foreign globalization?
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.
,any nonprofit, voluntary citizens' groups that are What is nongovernmental organization and how does it impact
organized on a local, national, or international government public policy across national boundaries?
level
International business encompasses a full range What are the features of international business?
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.
,- Exporting What are the different forms of international business? Explain each
- franchising form.
- joint ventures
- home-owned affiliates
- fully global ventures
1. market entry What are the 5 stages of entering a global market? Explain each
2. product specialization stage
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
market, cost, competition, government What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower What are the benefits and costs of global expansion from MNCs'
labor costs, less expensive natural resources, perspective?
and other inputs to products.
, 1.0: the first stage of globalism and is pushed What are the characteristics of each stage of globalization?
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.
Ethical issues, governmental policies, and What are the criticisms of globalization?
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.
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.
economic: developed economies integrating What are the economic, political, and cultural effects of
with developing countries through foreign globalization?
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.
,any nonprofit, voluntary citizens' groups that are What is nongovernmental organization and how does it impact
organized on a local, national, or international government public policy across national boundaries?
level
International business encompasses a full range What are the features of international business?
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.
,- Exporting What are the different forms of international business? Explain each
- franchising form.
- joint ventures
- home-owned affiliates
- fully global ventures
1. market entry What are the 5 stages of entering a global market? Explain each
2. product specialization stage
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
market, cost, competition, government What are the 4 drivers of globalization? Explain
unsaturated demand for new products, lower What are the benefits and costs of global expansion from MNCs'
labor costs, less expensive natural resources, perspective?
and other inputs to products.
, 1.0: the first stage of globalism and is pushed What are the characteristics of each stage of globalization?
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.
Ethical issues, governmental policies, and What are the criticisms of globalization?
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.
