10 Questions
What is the definition of international?
Involves two or more nations or countries
What is the effect of globalization on international business according to the text?
It creates greater opportunities for international business
Where does globalization take place according to the text?
In terms of markets, where trade barriers are falling, and buyer preferences are changing
What is the definition of strategy?
The central, integrated, and externally oriented concept of how an organization achieves its performance objectives
What best defines strategic management?
The body of knowledge that answers questions about the development and implementation of good strategies
What is the primary focus of entrepreneurship?
Recognizing opportunities
Which of the following is a key characteristic of an entrepreneur?
Engaging in entrepreneurship
What is the primary aim of stakeholder theory?
To examine the connection between stakeholder interests, management practices, and organizational goals
Which of the following is considered a stakeholder?
One who is involved in or affected by a course of action
What can enhance one's understanding of international business?
The knowledge in strategic management and entrepreneurship
Study Notes
International Business
- Involves two or more nations/countries.
Globalization and International Business
- Creates greater opportunities for international business due to:
- Falling trade barriers
- Changing buyer preferences
Strategy and Strategic Management
- A central, integrated, and externally oriented concept aimed at achieving an organization's performance objectives.
- Strategic management is the body of knowledge that answers questions about developing and implementing good strategies.
Entrepreneurship
- Recognizing opportunities
- An entrepreneur is a person who engages in entrepreneurship.
Stakeholders and Stakeholder Theory
- A stakeholder is an individual involved in or affected by a course of action.
- Stakeholder theory examines the connection between:
- Stakeholder legitimate interests
- Stakeholder management practices
- The achievement of an organization's goals
Explore the impact of globalization on international business and the concept of strategic management. Test your knowledge on how globalization affects markets and creates opportunities for organizations to achieve their objectives through strategic planning.
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