Podcast
Questions and Answers
What has contributed to the increase in sponsorship and advertising revenue for sports teams?
What has contributed to the increase in sponsorship and advertising revenue for sports teams?
- Higher salaries for professional athletes
- More people watching sports tournaments on television and attending them (correct)
- Decrease in television broadcast rights
- Increase in tournament attendance
Why do professional teams search for athletes globally?
Why do professional teams search for athletes globally?
- To reduce costs on talent development
- To comply with international labor laws
- To increase team loyalty among local players
- To find and develop the most talented athletes (correct)
What has been a significant revenue source for successful sports teams?
What has been a significant revenue source for successful sports teams?
- Merchandise sales with their logos (correct)
- Ticket sales for international tournaments
- Sponsorship and advertising deals
- Television broadcast rights
Why have sports teams and leagues been seeking foreign investors?
Why have sports teams and leagues been seeking foreign investors?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
What is a negative consequence of the globalization of professional sports for an average player like professional athlete B?
What is a negative consequence of the globalization of professional sports for an average player like professional athlete B?
What influence do a nation's political policies have on international business?
What influence do a nation's political policies have on international business?
What determines international law in international business?
What determines international law in international business?
Why is it important for managers to study anthropology, psychology, and sociology?
Why is it important for managers to study anthropology, psychology, and sociology?
What does economics explain in international business?
What does economics explain in international business?
What determines how earnings are taxed by all jurisdictions?
What determines how earnings are taxed by all jurisdictions?
Why do laws and their enforcement affect a firm's foreign operations?
Why do laws and their enforcement affect a firm's foreign operations?
What is a potential positive effect of globalization on the environment?
What is a potential positive effect of globalization on the environment?
What is a challenge facing globalization?
What is a challenge facing globalization?
Why do companies engage in international business?
Why do companies engage in international business?
What is a result of globalization's focus on profit?
What is a result of globalization's focus on profit?
What is a potential negative effect of globalization on individuals?
What is a potential negative effect of globalization on individuals?
What is a primary objective of a firm engaging in international business?
What is a primary objective of a firm engaging in international business?
What financial benefits do sports teams and non-sports companies gain from partnering with famous athletes and teams?
What financial benefits do sports teams and non-sports companies gain from partnering with famous athletes and teams?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
What role do sponsors and advertisers play in the globalization of professional sports?
What role do sponsors and advertisers play in the globalization of professional sports?
How has the globalization of professional sports affected the career of an average player like professional athlete B?
How has the globalization of professional sports affected the career of an average player like professional athlete B?
What has enabled sports teams to sell merchandise and souvenirs globally?
What has enabled sports teams to sell merchandise and souvenirs globally?
What motivates sports teams and leagues to seek foreign investors?
What motivates sports teams and leagues to seek foreign investors?
How do international agreements influence the process of international business?
How do international agreements influence the process of international business?
What do managers need to study to better understand the interpersonal norms of people in foreign countries?
What do managers need to study to better understand the interpersonal norms of people in foreign countries?
How do a nation's economic policies influence international business?
How do a nation's economic policies influence international business?
Why do businesses need to consider the differences in laws and their enforcement in foreign countries?
Why do businesses need to consider the differences in laws and their enforcement in foreign countries?
How do economic forces influence the flow of goods and services between countries?
How do economic forces influence the flow of goods and services between countries?
What is the role of government leaders in international business?
What is the role of government leaders in international business?
How does globalization affect the career of a star athlete?
How does globalization affect the career of a star athlete?
What is a challenge facing athletes in the globalized sports industry?
What is a challenge facing athletes in the globalized sports industry?
How has globalization impacted the sponsorship and advertising revenue for sports teams?
How has globalization impacted the sponsorship and advertising revenue for sports teams?
Why do sports teams search for athletes globally?
Why do sports teams search for athletes globally?
How has the globalization of professional sports affected the career of a star athlete?
How has the globalization of professional sports affected the career of a star athlete?
What are the three types of factors that smart companies examine when developing international strategies?
What are the three types of factors that smart companies examine when developing international strategies?
How do demographic differences between countries impact international business operations?
How do demographic differences between countries impact international business operations?
What is the significance of geographic knowledge in international business?
What is the significance of geographic knowledge in international business?
Why do sports teams and leagues seek foreign investors?
Why do sports teams and leagues seek foreign investors?
How has the globalization of professional sports affected the career of athletes?
How has the globalization of professional sports affected the career of athletes?
What is the role of sponsors and advertisers in the globalization of professional sports?
What is the role of sponsors and advertisers in the globalization of professional sports?
What has enabled professional sports teams to expand their merchandise sales globally and increase their revenue?
What has enabled professional sports teams to expand their merchandise sales globally and increase their revenue?
What is a potential negative consequence of the globalization of professional sports for an average player like professional athlete B?
What is a potential negative consequence of the globalization of professional sports for an average player like professional athlete B?
Why do sports teams and non-sports companies alike pay famous athletes and teams generous sums to endorse their products?
Why do sports teams and non-sports companies alike pay famous athletes and teams generous sums to endorse their products?
What is driving professional teams and leagues to seek foreign investors?
What is driving professional teams and leagues to seek foreign investors?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
How has the globalization of professional sports affected the career of a star athlete like professional athlete A?
What has contributed to the increase in sponsorship and advertising revenue for sports teams?
What has contributed to the increase in sponsorship and advertising revenue for sports teams?
What motivates firms to seek foreign markets, and what advantages do they gain from participating in international business?
What motivates firms to seek foreign markets, and what advantages do they gain from participating in international business?
What are merchandise exports and imports, and how do they differ from service exports and imports?
What are merchandise exports and imports, and how do they differ from service exports and imports?
How do firms receive export earnings from service performances, and what are some examples of service performances?
How do firms receive export earnings from service performances, and what are some examples of service performances?
What is asset use, and how do firms receive export earnings from it?
What is asset use, and how do firms receive export earnings from it?
How do foreign investments in sports benefit sports teams and leagues?
How do foreign investments in sports benefit sports teams and leagues?
What is athlete migration, and what are its implications for international business?
What is athlete migration, and what are its implications for international business?
What type of group membership is usually determined by birth?
What type of group membership is usually determined by birth?
How does social stratification influence a person's financial rewards within a culture?
How does social stratification influence a person's financial rewards within a culture?
What is a common way to classify people's group memberships?
What is a common way to classify people's group memberships?
What type of aspect of culture affects business practices?
What type of aspect of culture affects business practices?
Which of the following is an example of an acquired group membership?
Which of the following is an example of an acquired group membership?
What is a challenge facing international business operations due to cultural differences?
What is a challenge facing international business operations due to cultural differences?
What is the main reason behind the employment quotas in Malaysia?
What is the main reason behind the employment quotas in Malaysia?
What is a characteristic of societies where family membership is more important than individual achievement?
What is a characteristic of societies where family membership is more important than individual achievement?
What is changing in some parts of the world?
What is changing in some parts of the world?
What is a common assumption in many cultures?
What is a common assumption in many cultures?
What is happening in the job market as jobs become less physical and more creative and/or technical?
What is happening in the job market as jobs become less physical and more creative and/or technical?
In which countries are small family-run companies generally quite successful, but often have difficulty expanding beyond the family?
In which countries are small family-run companies generally quite successful, but often have difficulty expanding beyond the family?
What is a significant cultural change in Saudi Arabia, as mentioned in the Java Lounge case?
What is a significant cultural change in Saudi Arabia, as mentioned in the Java Lounge case?
What is a key challenge faced by foreign firms in Saudi Arabia?
What is a key challenge faced by foreign firms in Saudi Arabia?
What is a paradox observed in Saudi Arabia's culture and business practices?
What is a paradox observed in Saudi Arabia's culture and business practices?
What is a potential opportunity for foreign firms in Saudi Arabia?
What is a potential opportunity for foreign firms in Saudi Arabia?
What is a significant aspect of Saudi Arabia's culture that affects business operations?
What is a significant aspect of Saudi Arabia's culture that affects business operations?
What is a challenge faced by foreign firms in Saudi Arabia in terms of workforce management?
What is a challenge faced by foreign firms in Saudi Arabia in terms of workforce management?
Study Notes
Globalization
- Globalization has both positive and negative effects on the environment and natural resources.
- Critics argue that profits from globalization have gone disproportionately to top executives, leading to growing income inequality and personal stress.
International Business
- Companies engage in international business to:
- Expand sales
- Acquire resources
- Reduce risk
- International business operating modes include:
- Merchandise exports and imports (tangible products)
- Service exports and imports (intangible products)
- Tourism and transportation
- Service performance (fees paid by foreign clients)
- Asset use (royalties from foreign clients)
Factors Affecting Ability to Operate Abroad
- Physical factors:
- Geographic influences (resource distribution, transportation, and communication)
- Demographic influences (population density, education, age distribution, and life expectancy)
- Institutional factors:
- Political policies (government influence on business operations)
- Cultural attitudes and values (social stratification, religion, and ethnicity)
- Legal policies (international law and domestic business law)
- Behavioral factors:
- Interpersonal norms and operating procedures in foreign countries
- Economic forces:
- Exchange of goods and services
- Flow of capital and people
- Currency valuation and exchange rates
National Environmental Differences
- Culture:
- Drives attitudes and values towards business practices
- Influences social stratification and group membership
- Affects ethnic and national identity
- Legal policies:
- International law and agreements between countries
- Domestic business law and regulations
- Enforcement of laws and their impact on foreign operations
- Economic forces:
- Country-specific economic policies and conditions
- Impact of foreign operations on home and host countries
Multinational Enterprise
- A multinational enterprise (MNE) is a firm that takes a global approach to foreign markets and production.
- Other terms used to describe MNEs include multinational corporation (MNC) and transnational company (TNC).
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Description
Take this quiz to test your knowledge of globalization in the context of professional sports. Learn how the process of globalization affects the sports industry, from satellite television broadcasts to the recruitment of talented athletes from around the world.
