Business in a Global Environment Unit 1

<p>Loss of cultural identity and traditions (B)</p> Signup and view all the answers

<p>Changing company strategies (C)</p> Signup and view all the answers

<p>Impose strict regulations on host countries' economic activities (C)</p> Signup and view all the answers

<p>Consumer demand and preferences (C)</p> Signup and view all the answers

<p>Decision Making (A)</p> Signup and view all the answers

<p>Loss of economic sovereignty of the host country (B)</p> Signup and view all the answers

<p>Maximizing value while minimizing waste (A)</p> Signup and view all the answers

<p>Total Quality Management (TQM) (D)</p> Signup and view all the answers

<p>Difficulties in logistics (D)</p> Signup and view all the answers

<p>Increases Employee Turnover (D)</p> Signup and view all the answers

<p>Agriculture (A)</p> Signup and view all the answers

<p>To make sense of information, create direction, and share it with others to understand and follow (A)</p> Signup and view all the answers

<p>Profit maximization (C)</p> Signup and view all the answers

<p>Economic instability across the globe. (B)</p> Signup and view all the answers

<p>Private ownership of the core economic resources. (B)</p> Signup and view all the answers

<p>The process by which an activity or undertaking becomes worldwide in scope. (D)</p> Signup and view all the answers

<p>To expand their market reach and access new customer bases. (C)</p> Signup and view all the answers

<p>Environmental concerns. (A)</p> Signup and view all the answers

<p>The need for firms to adapt to changing market conditions and remain competitive. (B)</p> Signup and view all the answers

<p>The emergence of global capitalism and the dominance of free market principles. (A)</p> Signup and view all the answers

<p>The spread of market capitalism globally, interconnected across international borders. (A)</p> Signup and view all the answers

<p>The stages of a product's journey from introduction to decline. (C)</p> Signup and view all the answers

<p>To capitalize on a highly successful product in new markets. (C)</p> Signup and view all the answers

<p>Reduced risk by spreading investments across multiple countries. (C)</p> Signup and view all the answers

<p>Allowing goods to flow freely across borders without restrictions or tariffs. (A)</p> Signup and view all the answers

<p>Stable economic conditions (C)</p> Signup and view all the answers

<p>Companies see their activities as essentially MNCs. (C)</p> Signup and view all the answers

<p>Increased internal trade (C)</p> Signup and view all the answers

<p>It promotes fair competition based on quality and price. (A)</p> Signup and view all the answers

The setting within which businesses operate, influenced by trends and changes.

The rise of market capitalism that is interconnected across countries.

Factors such as technology, deregulation, and privatization that promote global capitalism.

The process of activities becoming worldwide in scope, integrating economies globally.

Integration of national economies into the global economy through trade and investment.

Business strategy to access broader markets, driven by inadequate domestic markets.

An economic system characterized by private ownership and market-based transactions.

The role technology plays in driving globalization and enhancing market efficiency.

A model explaining the stages products go through from introduction to decline, proposed by Raymond Vernon.

Progression from passive dealing with foreign interests to companies operating as multinational corporations.

The strategy of creating a diverse investment portfolio to optimize risk and return from multiple nations.

Trade without borders, free from tariffs and controls, based on quality and price.

The rapid changes in customer preferences and market conditions driven by economic and technological factors.

The increase in exchange of goods and services across national borders.

Consistent quality in products globally, using environmentally friendly tech and effective communication.

Unrestricted movement of capital, labor, technology, and management across countries.

Consumers are becoming more demanding, influencing market trends.

Economic advantages gained in host countries through globalization.

Host countries may lose control over their economic policies due to MNCs.

Obstacles faced by businesses operating globally, like competitiveness and diversity.

Movement of technology and skills from one country to another in globalization.

The risk of eroding local cultures due to the influence of multinational corporations.

Globalization supports cooperation and interdependence among nations.

The management of the flow of goods and services, including all processes that transform raw materials into final products.

A business model focused on maximizing value while minimizing waste and enhancing efficiency across processes.

A strategy for long-term success emphasizing customer satisfaction and quality in every process with employee involvement.

An inventory strategy that produces goods only as needed to enhance efficiency and reduce inventory costs.

A strategy focusing on optimizing production flow by addressing bottlenecks to improve resource utilization and delivery speed.

Key principles include whole optimization, waste elimination, quality building, rapid delivery, knowledge creation, and respect for people.

Includes increased efficiency, cost reduction, enhanced customer satisfaction, and adaptability to change.

Facilitates ongoing growth, enhances quality, reduces costs, and improves customer satisfaction.