The extent to which trade and investments, information, social and cultural ideas, and political cooperation flow between countries.
a) Internationalism
b) Exporting
c) Globalization
d) Standardization
Answer: C
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Business Strategy Chapter 7
- Starting a new venture in a foreign country by constructing new operational facilities from the ground up. Also known as "wholly owned subsidiary"
- Some critics further suggest that globalization promotes a "___" that drives down wage rates and creates pressure to eliminate labor laws (particularly in developing countries)
- This works against treating the world as a single global marketplace.
- There are still major differences between nations in business systems, legal systems, infrastructure, and overall level of economic development.
- Consumer tastes and preferences vary across nations and cultures. However, consumer tastes and preferences can change over time.
- Like consumer tastes and preferences, these factors can also change over time.
- Business leaders insist that economic benefits flow back to the U.S. economy in the form of all except:
- Is another potential drawback of globalization
- (BOP) stands for:
- _______ companies are starting to adopt BOP strategies.
- More than ___ billion people make up the lowest level of the world's economic "pyramid".
- The United States' primary concerns is the
- ___ of Americans believe free trade has hurt the United States.
- A tendency to regard your own culture as superior
- Which one of these is NOT a cultural characteristic:
- People use communication primarily to exchange facts and information. Meaning derived primarily from words. Business more important than building relationships and trust Individual's welfare and achievement more important than group's.
- People are sensitive to circumstances surrounding social exchanges. Meaning derived form context (setting, status, nonverbal cues)Relationships and trust more important than business. Group's welfare and harmony more important than individual's
- Social rules and guidelines that prescribe appropriate behavior in particular situations.
- The system of values and norms that are held in common by people living in a society
- Licensing of a good or service and business model to partners for specified fees (usually a signing fee and a percentage of the franchisee's revenues or profits)
- The process of sending goods and services from one country to another for distribution, sale, and service.
- The process of entering an international market by leasing the right to use the firm's intellectual property to a firm doing business in the targeted international market.
- Local customization emphasized
- Uses decentralized structure
- The firm establishes a collection of relatively independent operating subsidiaries, each of which focuses on a specific domestic market.
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