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Questions and Answers
What type of business arrangement involves the sale of the right to use intellectual property or manufacture a product for royalty?
What type of business arrangement involves the sale of the right to use intellectual property or manufacture a product for royalty?
Which of the following is NOT a characteristic of globalization?
Which of the following is NOT a characteristic of globalization?
What is the primary purpose of a joint venture?
What is the primary purpose of a joint venture?
What is the term for the discovery of the New World in 1492, which marked the beginning of the first stage of global development?
What is the term for the discovery of the New World in 1492, which marked the beginning of the first stage of global development?
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Which type of business arrangement involves conducting business as an independent branch of the franchisor?
Which type of business arrangement involves conducting business as an independent branch of the franchisor?
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What is the term for a certain percentage of sales paid to the licensor for the use of intellectual property or a product?
What is the term for a certain percentage of sales paid to the licensor for the use of intellectual property or a product?
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According to the World Health Organization, what are the two interrelated elements of globalization?
According to the World Health Organization, what are the two interrelated elements of globalization?
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What type of business arrangement involves maintaining an office in a foreign country?
What type of business arrangement involves maintaining an office in a foreign country?
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What is the primary focus of international business and trade?
What is the primary focus of international business and trade?
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What is the objective of trade agreements or treaties?
What is the objective of trade agreements or treaties?
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What is corporate social responsibility primarily concerned with?
What is corporate social responsibility primarily concerned with?
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What is international investing an example of?
What is international investing an example of?
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What are the three components of the triple bottom line?
What are the three components of the triple bottom line?
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What is the formula for calculating total trade?
What is the formula for calculating total trade?
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What is the primary objective of technology transfer?
What is the primary objective of technology transfer?
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What is globalization closely related to?
What is globalization closely related to?
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What is a Wholly owned subsidiary?
What is a Wholly owned subsidiary?
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What is the term for the creation of products or services for the global market by adapting them to local cultures and environment?
What is the term for the creation of products or services for the global market by adapting them to local cultures and environment?
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What is the Philippines-Japan Economic Partnership Agreement (PJEPA)?
What is the Philippines-Japan Economic Partnership Agreement (PJEPA)?
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What is an example of a rebellious reaction to globalization?
What is an example of a rebellious reaction to globalization?
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What is an example of glocalization?
What is an example of glocalization?
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What is the term for the period of globalization from about 1800 to 2000?
What is the term for the period of globalization from about 1800 to 2000?
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Which of the following European countries is NOT a member of the European Free Trade Association (EFTA)?
Which of the following European countries is NOT a member of the European Free Trade Association (EFTA)?
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What year did the free trade agreement between the Philippines and the European Free Trade Association (EFTA) take effect?
What year did the free trade agreement between the Philippines and the European Free Trade Association (EFTA) take effect?
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Study Notes
Types of Investments
- Licensing: a contractual arrangement where the licensor sells the right to use intellectual property or manufacture a product to the licensee for royalty.
- Franchising: a contractual arrangement in which the franchisor permits the franchisee to use the business model or brand name for a fee.
- Joint Venture (JV): a joint undertaking by two or more parties, which otherwise retain their distinct identities, to accomplish a specific task or project.
- Wholly Owned Subsidiary: a company whose common stock is 100% owned by the parent company.
- Establishing a Branch: maintaining an office in a foreign country.
Globalization
- Globalization: the increasing connectedness, integration, and interdependence of world cultures, economies, politics, and environment.
- Globalization 1.0: started with Columbus’ discovery of the New World in 1492.
- Globalization 2.0: from about 1800 to 2000, was largely shaped by the emerging power of huge multinational corporations.
- Globalization 3.0: began around 2000 with advances in global electronic interconnectivity through the internet.
Glocalization
- Glocalization: the creation of products or services for the global market by adapting them to local cultures and environment.
- Opportunistic reaction: creating hybrids, where mixed cultures take advantage of the opportunities provided by international business and trade.
- Rebellious reaction: fostering a resistance identity defending local history, traditions, and authentic cultures.
International Business and Trade
- International business and trade: any activity or endeavor among nations around the globe involving the buying, selling, and exchanging of goods, services, capital, labor, resources, technology, and the like.
- Trade: a basic economic concept involving the buying, selling, or exchange of goods and services.
- Types of business: international investing, exporting, importing, and labor migration.
- Trade agreements or treaties: contractual arrangements between countries concerning their trade relationships.
Other Concepts
- Triple bottom line (TBL): profit (economy), people (society), and the planet (environment).
- Corporate social responsibility: businesses have an obligation to society and the environment beyond what is prescribed by law and above making a profit.
- Technology transfer: the process of conveying results stemming from scientific and technological research to the marketplace and a wider society.
- Foreign direct investment: a firm is investing assets directly into a foreign country’s buildings, equipment, or organizations.
- Philippines-Japan Economic Partnership Agreement (PJEPA): the first bilateral free trade agreement of the Philippines, signed in 2006.
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Description
This quiz covers the factors that attract foreign direct investment, including the spread of technology, strong institutions, and more. Test your knowledge on what makes a country an attractive destination for foreign investors.