D270 Midterm Garcia Exam UPDATED
QUESTIONS AND CORRECT ANSWERS
Offshoring - CORRECT ANSWER the relocation of business processes and services to
a lower-cost foreign location particularly white-collar, technical, professional, and clerical
services
Outsourcing - CORRECT ANSWER A decision by a corporation to turn over much of
the responsibility for production to independent suppliers.
Turnkey Operation - CORRECT ANSWER A company sets a contract with a company
abroad, trains local personnel, and then turns the key over to local management for a fee.
allows host country to use their trademark, brand
management contract - CORRECT ANSWER home country hires a host country to
hire, train, manage workers for their work and pays them a fee for dealing with operations
overseas. less risk, less costly, less complex
Foreign Direct Investment - CORRECT ANSWER investor takes controlling
investment in foreign country
joint venture - CORRECT ANSWER an agreement between two or more companies to
share an FDI
change agent - CORRECT ANSWER someone who is a catalyst in helping
organizations to deal with old problems in new ways. can also be brands changing
culture/brands in a country
opinion leaders - CORRECT ANSWER individuals who exert direct or indirect social
influence over others. influencers
Reshoring - CORRECT ANSWER moves jobs back from foreign to domestic locations
, Microprocessor - CORRECT ANSWER The central processing unit that is generally
made from a single integrated circuit.
Agglomeration - CORRECT ANSWER Clumping together of industries for mutual
advantage.
licensing agreement - CORRECT ANSWER an agreement in which one firm gives
another firm the right to produce and market its product in a specific country or region in
return for royalties
Royalties - CORRECT ANSWER A percentage of actual sales that a licensee pays to a
licensor, usually anywhere from 5 to 15 percent
prestige - CORRECT ANSWER a high standing achieved through success or influence
or wealth etc.
Acquired Group Membership - CORRECT ANSWER Defined by choice (political,
professional, religion)
civil strife - CORRECT ANSWER Civil War
most highly globalized countries are - CORRECT ANSWER small, high per capita
income, lots of imports
Born Global Company - CORRECT ANSWER Founded as international company ex.
soundcloud
Criticism of Globalization - CORRECT ANSWER 1. Threats to national sovereignty
2. Environmental stress
QUESTIONS AND CORRECT ANSWERS
Offshoring - CORRECT ANSWER the relocation of business processes and services to
a lower-cost foreign location particularly white-collar, technical, professional, and clerical
services
Outsourcing - CORRECT ANSWER A decision by a corporation to turn over much of
the responsibility for production to independent suppliers.
Turnkey Operation - CORRECT ANSWER A company sets a contract with a company
abroad, trains local personnel, and then turns the key over to local management for a fee.
allows host country to use their trademark, brand
management contract - CORRECT ANSWER home country hires a host country to
hire, train, manage workers for their work and pays them a fee for dealing with operations
overseas. less risk, less costly, less complex
Foreign Direct Investment - CORRECT ANSWER investor takes controlling
investment in foreign country
joint venture - CORRECT ANSWER an agreement between two or more companies to
share an FDI
change agent - CORRECT ANSWER someone who is a catalyst in helping
organizations to deal with old problems in new ways. can also be brands changing
culture/brands in a country
opinion leaders - CORRECT ANSWER individuals who exert direct or indirect social
influence over others. influencers
Reshoring - CORRECT ANSWER moves jobs back from foreign to domestic locations
, Microprocessor - CORRECT ANSWER The central processing unit that is generally
made from a single integrated circuit.
Agglomeration - CORRECT ANSWER Clumping together of industries for mutual
advantage.
licensing agreement - CORRECT ANSWER an agreement in which one firm gives
another firm the right to produce and market its product in a specific country or region in
return for royalties
Royalties - CORRECT ANSWER A percentage of actual sales that a licensee pays to a
licensor, usually anywhere from 5 to 15 percent
prestige - CORRECT ANSWER a high standing achieved through success or influence
or wealth etc.
Acquired Group Membership - CORRECT ANSWER Defined by choice (political,
professional, religion)
civil strife - CORRECT ANSWER Civil War
most highly globalized countries are - CORRECT ANSWER small, high per capita
income, lots of imports
Born Global Company - CORRECT ANSWER Founded as international company ex.
soundcloud
Criticism of Globalization - CORRECT ANSWER 1. Threats to national sovereignty
2. Environmental stress
