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International Business and Globalization

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International Business and Globalization

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Questions and Answers

What is one of the benefits of globalization for developing areas?

It creates a culture of fear.

It leads to job transfers to lower cost areas.

It increases poverty among the poor.

It opens up opportunities for development. (correct)

What is a significant difference when managing an international business compared to a domestic business?

International businesses must adapt to different government limits. (correct)

The range of problems is narrower in international business.

International businesses have standardized regulations.

Domestic businesses involve transactions solely in one currency.

Which statement accurately reflects a disadvantage of globalization?

It results in higher job security for workers.

It may trap the poor deeper in poverty. (correct)

It can lead to increased standards of living in all countries.

It enhances the ability to communicate globally.

What does Containerization primarily facilitate?

<p>The efficient loading and shipping of goods.</p> Signup and view all the answers

What defines a Multinational Enterprise (MNE)?

<p>A company with productive activities in multiple countries.</p> Signup and view all the answers

Study Notes

Globalization

Involves sourcing goods to take advantage of cost and quality differences in factors of production
Can lead to increased trade and job opportunities
May help develop poorer areas of the world
Potentially increases standards of living
Facilitates communication, collaboration, and knowledge sharing globally

Cons of Globalization

May lead to job displacement due to lower cost areas
Can trap people in poverty
Fosters a culture of fear for some
May create a race to the bottom in terms of wages

Managing International Business

Requires consideration of cultural differences
Involves a wider and more complex range of problems
Requires navigating government regulations and restrictions
Involves currency conversion for transactions

Containerization

Refers to the loading and shipping of containers on ships
Has led to a decline in break-of-bulk shipping

Foreign Direct Investment (FDI)

Involves a firm investing resources into business activities outside its home country

Multinational Enterprise (MNE)

A business that has productive activities in two or more countries

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Description

This quiz explores the dynamics of globalization, including its benefits and drawbacks. It covers aspects of international business, such as managing cultural differences and foreign direct investment. By understanding these concepts, learners can appreciate the complexities of global trade and investment.