Podcast
Questions and Answers
Technological change has made the globalization of markets a reality through advances in microprocessors, telecommunications, the Internet, and ______ technology.
Technological change has made the globalization of markets a reality through advances in microprocessors, telecommunications, the Internet, and ______ technology.
Transportation
Purchasing power parity (PPP) is a money conversion rate used to express the purchasing powers of different currencies in common ______.
Purchasing power parity (PPP) is a money conversion rate used to express the purchasing powers of different currencies in common ______.
units
Since the 1960s, there has been a rise in non-US multinationals and a growth of ______-multinationals.
Since the 1960s, there has been a rise in non-US multinationals and a growth of ______-multinationals.
mini
Globalization refers to the shift toward a more integrated and interdependent world ______
Globalization refers to the shift toward a more integrated and interdependent world ______
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The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global ______
The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global ______
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Institutions created over the past half century to help manage, regulate, and police the global marketplace included the General Agreement on Tariffs and Trade (GATT), World Trade Organization (WTO), International Monetary Fund (IMF), World Bank, United Nations (UN), and Association of Southeast Asian Nations (ASEAN). International Monetary Fund (IMF) and the World Bank were created in ______
Institutions created over the past half century to help manage, regulate, and police the global marketplace included the General Agreement on Tariffs and Trade (GATT), World Trade Organization (WTO), International Monetary Fund (IMF), World Bank, United Nations (UN), and Association of Southeast Asian Nations (ASEAN). International Monetary Fund (IMF) and the World Bank were created in ______
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Culture and competitive advantage are influenced by the value systems and norms of a ______.
Culture and competitive advantage are influenced by the value systems and norms of a ______.
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One danger for a company going abroad is being ill-informed due to lack of cross-culture ______.
One danger for a company going abroad is being ill-informed due to lack of cross-culture ______.
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Ethical issues in international business are rooted in the variations in political systems, law, economic development, and ______.
Ethical issues in international business are rooted in the variations in political systems, law, economic development, and ______.
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Ethical dilemmas faced by multinational corporations include employment practices, human rights, environmental regulations, and ______.
Ethical dilemmas faced by multinational corporations include employment practices, human rights, environmental regulations, and ______.
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Study Notes
Globalization of Markets
- Technological advancements in microprocessors, telecommunications, the Internet, and other technologies have made the globalization of markets a reality.
- The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global market.
Purchasing Power Parity (PPP)
- PPP is a money conversion rate used to express the purchasing powers of different currencies in common terms.
- It enables the comparison of currencies across different countries.
Rise of Multinationals
- Since the 1960s, there has been a rise in non-US multinationals and a growth of regional-multinationals.
- This shift indicates a more integrated and interdependent world economy.
International Institutions
- Institutions created to help manage, regulate, and police the global marketplace include:
- General Agreement on Tariffs and Trade (GATT)
- World Trade Organization (WTO)
- International Monetary Fund (IMF)
- World Bank
- United Nations (UN)
- Association of Southeast Asian Nations (ASEAN)
- The IMF and World Bank were created in 1944.
Culture and Competitive Advantage
- Culture and competitive advantage are influenced by the value systems and norms of a country.
- Cross-cultural differences can affect business operations and decision-making.
Ethical Issues in International Business
- Ethical issues in international business are rooted in the variations in political systems, law, economic development, and culture.
- Multinational corporations face ethical dilemmas including:
- Employment practices
- Human rights
- Environmental regulations
- Corruption
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Description
Test your understanding of the key concepts of globalization, focusing on the globalization of markets and the globalization of production. Explore how national markets are merging into a global marketplace and how goods and services are sourced globally to leverage differences in factors of production.
