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Globalization and International Business

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Globalization and International Business

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Questions and Answers

What opportunities does globalization create for international business?

Shift toward a more interdependent global economy (correct)

Increase in trade barriers

Limitations in sourcing goods and services from other countries

Decrease in buyer preferences

How do some managers view the definition of international business according to the text?

Involving a broad range of cross border exchanges

Related purely to marketing

Involving only industrial production

Focusing solely on business activities (correct)

What is included in the range of exchanges in international business?

International transfers of goods only

Only exchange of money for physical goods

Cross border exchanges of goods, services, or resources (correct)

Exchanges limited to intellectual property

What entities are involved in international business according to the text?

Large multinational firms and one-person companies Signup and view all the answers

In the context of international business, what do exchanges beyond physical goods include?

Exchanges of resources like people, intellectual property, and contractual assets Signup and view all the answers

How does globalization impact sourcing for companies?

Enables companies to source goods and services easily from other countries Signup and view all the answers

What does the broader definition of international business include?

Border-crossing transactions and nonfinancially motivated transactions Signup and view all the answers

Which area of knowledge will enhance understanding of international business?

Strategic management and entrepreneurship Signup and view all the answers

What is the main focus of strategic management?

Determinants of firm performance Signup and view all the answers

What does a SWOT assessment tool help with in strategy?

Analyzing internal characteristics of an organization Signup and view all the answers

What does a strategy focus on in an organization?

Future goals Signup and view all the answers

According to Mason Carpenter and William G. Sanders, what is a SWOT assessment?

A tool for evaluating an organization's internal characteristics Signup and view all the answers