Podcast
Questions and Answers
What has enabled fans to watch top players and teams in nearly any sport from almost anywhere on earth?
What has enabled fans to watch top players and teams in nearly any sport from almost anywhere on earth?
- Satellite television broadcasts (correct)
- Globalization of professional sports
- Sponsorships and advertisements
- Internet streaming
Why do sponsors and advertisers pay top dollar to be associated with professional sports?
Why do sponsors and advertisers pay top dollar to be associated with professional sports?
- To support their local communities
- To increase television ratings
- To increase their global brand recognition (correct)
- To attract more fans to the sport
How have successful teams generated more revenue?
How have successful teams generated more revenue?
- Through advertising on social media
- By hosting international tournaments
- Through television rights and sponsorships only
- By selling merchandise both domestically and internationally (correct)
How have teams and leagues sought income opportunities outside their home countries?
How have teams and leagues sought income opportunities outside their home countries?
How do professional teams find and develop talented athletes?
How do professional teams find and develop talented athletes?
What has the globalization of professional sports allowed professional athlete A to achieve?
What has the globalization of professional sports allowed professional athlete A to achieve?
What is a challenge of pursuing global interests?
What is a challenge of pursuing global interests?
Why do companies engage in international business?
Why do companies engage in international business?
What is a consequence of globalization?
What is a consequence of globalization?
What is a primary objective of international business?
What is a primary objective of international business?
What is a benefit of globalization?
What is a benefit of globalization?
What is a consequence of income inequality?
What is a consequence of income inequality?
What is the core concept of globalization?
What is the core concept of globalization?
What is international business?
What is international business?
Why do managers need to take into account international business?
Why do managers need to take into account international business?
What is a characteristic of international companies?
What is a characteristic of international companies?
What is an advantage of understanding international business?
What is an advantage of understanding international business?
What is a challenge in understanding globalization?
What is a challenge in understanding globalization?
What influences how and if international business takes place?
What influences how and if international business takes place?
What determines how earnings are taxed by all jurisdictions?
What determines how earnings are taxed by all jurisdictions?
What can managers study to better understand interpersonal norms of people in foreign countries?
What can managers study to better understand interpersonal norms of people in foreign countries?
What explains why countries exchange goods and services?
What explains why countries exchange goods and services?
What provides analytical tools to determine the impact of foreign operations on home and host countries?
What provides analytical tools to determine the impact of foreign operations on home and host countries?
What affects a firm's foreign operations?
What affects a firm's foreign operations?
What is the key characteristic of a multinational enterprise?
What is the key characteristic of a multinational enterprise?
What is the primary impact of geographic barriers on business operations?
What is the primary impact of geographic barriers on business operations?
Which of the following is an example of a demographic influence on international business operations?
Which of the following is an example of a demographic influence on international business operations?
What is the main purpose of examining institutional factors when implementing international strategies?
What is the main purpose of examining institutional factors when implementing international strategies?
Which of the following is NOT a type of factor that affects a company's ability to operate abroad?
Which of the following is NOT a type of factor that affects a company's ability to operate abroad?
What is the primary benefit of having a manager who is knowledgeable about geography?
What is the primary benefit of having a manager who is knowledgeable about geography?
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Study Notes
Globalization and International Business
- Globalization is the widening and deepening of interdependent relationships among people from different nations.
- International business consists of all commercial transactions between two or more countries.
- IB activities, including sales, investments, and transportation, create global connections between supplies and markets.
Impact of Globalization on Professional Sports
- The globalization of professional sports has far-reaching effects, including:
- Satellite television broadcasts allowing fans to watch top players and teams from anywhere on earth.
- Professional teams scouring the world to find and develop talented athletes.
- Players forsaking home country allegiances in pursuit of higher salaries.
- Increased revenue from sponsorships and merchandise sales.
Factors Affecting International Business Operations
- Understanding the environment and operations relationship is crucial for international companies.
- Making non-business decisions, such as choosing where to work and what policies to support, requires knowledge of IB.
The Study of International Business
- Companies engage in international business to:
- Expand sales and increase market potential.
- Acquire resources, such as products, services, and components, to improve competitiveness.
- Multinational enterprises (MNEs) take a global approach to foreign markets and production.
Factors Affecting Ability to Operate Abroad
- Physical factors:
- Geographic influences, such as uneven distribution of resources and geographic barriers.
- Demographic influences, such as population density, education, and age distribution.
- Institutional factors:
- Political policies, such as government leaders' influence on IB.
- Legal policies, including business law and international agreements.
- Behavioral factors, such as cultural norms and interpersonal relationships.
- Economic forces:
- Understanding why countries exchange goods and services.
- Analyzing the impact of foreign operations on home and host countries.
- Determining the effect of economic policies and conditions on domestic and foreign firms.
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