Exam 1: Globalization

Scenario: Donna Bader, Global Executive Donna Bader is a successful global business executive with 15 years marketing experience throughout Europe. Donna is participating in a forum designed to prepare young executives for their initial forays into international business. -Suppose a company wanted to improve its ability to efficiently procure raw materials, supply components to manufacturing, and deliver products to customers in a timely fashion. Donna would advise this company to ________.

What does the balance of evidence suggest for each of the three branches in the debate over globalization and income inequality?

In the debate over inequality, poor nations open to world trade and investment appear to grow faster than rich nations.

National culture is a weak shaper of a people's values, attitudes, customs, beliefs, and communication styles.

Scenario: Donna Bader, Global Executive Donna Bader is a successful global business executive with 15 years marketing experience throughout Europe. Donna is participating in a forum designed to prepare young executives for their initial forays into international business. -According to Donna, a key to success in global markets is having detailed knowledge of what international customers want, and ensuring that the company is flexible enough to customize products to meet those needs. Donna is referring to the notion of ________.

________ is the use of computer networks to purchase, sell, or exchange products, service customers, and collaborate with partners.

Scenario: Jeans, Unlimited Jeans, Unlimited produces clothing for young adults. It designs its clothes at its New York headquarters, and produces them at facilities in two Southeast Asian countries. The company recently received negative press after one of its facilities was found using questionable, albeit legal, labor practices including employing child labor and operating in a manner that damages the environment. -Jeans, Unlimited has designed a new line of accessories and must build a new facility to produce them. To avoid paying tariffs when importing raw materials for processing and when exporting finished goods, the company should consider locating its assembly plant in a(n) ________.

Pro-globalization economists believe that globalization ________ wealth and efficiency in both developed and developing nations.

Flexible labor markets allow workers to be redeployed rapidly to sectors of the economy where they are highly valued and in demand.

Goods and services purchased abroad and brought into a country are called ________.

A main difference between the two sides in the globalization debate is whether overall gains that may accrue to ________ are worth the lost livelihoods that ________ may suffer.

The rise of a new international entity called the ________ suggests that any firm, regardless of age, experience, and resources, can engage in international business.

Identify all the different types of companies that participate in international business.

________ is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

Barriers facing some of the world's "least global" nations include ________.

We can speak in terms of ________ when we sum all individual nations' gross domestic product (GDP) figures.

The world's largest company, Wal-Mart, has ________ employees.

Companies that sell global products can reduce costs by standardizing various aspects of their marketing activities.

Globalization of production refers to convergence in buyer preferences in markets around the world.

Define globalization and identify its main characteristics.