Podcast
Questions and Answers
Which factor does not significantly contribute to the increasing globalization of businesses?
Which factor does not significantly contribute to the increasing globalization of businesses?
- Strict regulations imposed by international governing bodies. (correct)
- The relative ease and affordability of international travel.
- Increased cross-border trade due to efficient transportation and communication.
- Instantaneous communication facilitated by information communication technology (ICT).
How does migration contribute to the globalisation of demand for goods and services?
How does migration contribute to the globalisation of demand for goods and services?
- Migrants always prefer goods and services from their home country, creating niche markets.
- Migrants rarely retain cultural preferences once they move to a new country.
- Migrants bring elements of their culture with them, diversifying local cultures and influencing demand for diverse goods and services. (correct)
- Migration has no impact on the globalisation of demand.
What is a common strategy used by multinational financial services providers like HSBC to expand their global presence?
What is a common strategy used by multinational financial services providers like HSBC to expand their global presence?
- Focusing exclusively on domestic markets before venturing internationally.
- Acquiring local financial services providers and rebranding them. (correct)
- Avoiding international business altogether due to complexities.
- Relying solely on government funding to establish overseas branches.
How has internet shopping contributed to globalisation?
How has internet shopping contributed to globalisation?
Which of the following scenarios best illustrates the impact of ICT on globalization?
Which of the following scenarios best illustrates the impact of ICT on globalization?
A company sources raw materials from Asia, manufactures goods in the US, and exports them to Europe. Which aspect of globalization does this exemplify?
A company sources raw materials from Asia, manufactures goods in the US, and exports them to Europe. Which aspect of globalization does this exemplify?
What is the most likely impact of increased cultural diversity within a country due to migration?
What is the most likely impact of increased cultural diversity within a country due to migration?
What is a key difference between a business that operates only domestically and one that has expanded to span national borders?
What is a key difference between a business that operates only domestically and one that has expanded to span national borders?
How do takeovers and mergers between financial service providers contribute to globalisation?
How do takeovers and mergers between financial service providers contribute to globalisation?
What is a likely consequence of faster communication speeds enabled by ICT?
What is a likely consequence of faster communication speeds enabled by ICT?
Flashcards
Globalisation
Globalisation
Increased interconnectedness and interdependence among countries through flows of goods, services, capital, information, and people.
Information Communication Technology (ICT)
Information Communication Technology (ICT)
Facilitates global interaction through instant communication and information sharing.
Cross-border Trade
Cross-border Trade
Buying and selling of goods and services across national borders.
Migration
Migration
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Multinational Organisations
Multinational Organisations
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Takeovers and Mergers
Takeovers and Mergers
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Study Notes
- Events in one nation increasingly impact others due to globalization.
Factors Fueling Globalization
- Easier and cheaper international travel allows for quick movement across the globe.
- Rapid communication via information communication technology (ICT) enables almost instant contact between people and financial markets.
- Businesses engage in cross-border trade because goods can be easily transported and people can easily stay in contact.
- Migration leads to diverse local cultures, influencing demand for various goods and services like food and fashion.
- Businesses, especially financial services, have expanded internationally, operating and having offices in multiple countries.
- Takeovers and mergers have resulted in large multinational organizations.
- HSBC, originally the 'Hongkong and Shanghai Banking Corporation,' has expanded into over 65 countries and territories through establishing offices and acquiring local financial services providers.
- Internet shopping has simplified overseas purchases for consumers, with air transport ensuring swift delivery.
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