Podcast
Questions and Answers
Which term refers to goods and services purchased abroad and brought into a country?
Which term refers to goods and services purchased abroad and brought into a country?
What is the main driver of the decrease in the cost of global communication and travel?
What is the main driver of the decrease in the cost of global communication and travel?
What is the role of technology in facilitating societal and commercial changes?
What is the role of technology in facilitating societal and commercial changes?
What is the purpose of head hunting firms?
What is the purpose of head hunting firms?
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How do some companies tap into global talent?
How do some companies tap into global talent?
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Which of the following is NOT a characteristic of globalization?
Which of the following is NOT a characteristic of globalization?
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What is the term used to describe the dispersal of production activities worldwide to minimize costs or maximize quality?
What is the term used to describe the dispersal of production activities worldwide to minimize costs or maximize quality?
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What is the main effect of globalization on markets?
What is the main effect of globalization on markets?
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What are global products?
What are global products?
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How can companies reduce costs through globalization of markets?
How can companies reduce costs through globalization of markets?
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Study Notes
International Trade and Globalization
- Imports refer to goods and services purchased abroad and brought into a country.
Globalization Drivers
- The main driver of the decrease in the cost of global communication and travel is advancements in technology.
Technology and Globalization
- Technology plays a crucial role in facilitating societal and commercial changes by increasing global connectivity and accessibility.
Talent Acquisition
- The purpose of head hunting firms is to identify and recruit top talent globally for companies.
- Some companies tap into global talent by using head hunting firms or by establishing international recruitment offices.
Characteristics of Globalization
- Protectionism, or the practice of protecting domestic industries through tariffs and trade restrictions, is NOT a characteristic of globalization.
Global Production
- The term used to describe the dispersal of production activities worldwide to minimize costs or maximize quality is outsourcing.
Global Markets
- The main effect of globalization on markets is to create increased competition and interconnectedness.
Global Products
- Global products are products that are designed and marketed for a global audience, often with a consistent brand image and uniform packaging.
Cost Reduction through Globalization
- Companies can reduce costs through globalization of markets by outsourcing production, reducing labor costs, and taking advantage of economies of scale.
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Description
Test your knowledge of international business and cross-border transactions with this quiz! Learn about imports, exports, and the impact of technology on global communication. Explore the traits and practices of different cultures in the business world. Are you ready to expand your understanding of the international marketplace? Take the quiz now!
