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BMG215 > BMG > Flashcards

BMG Flashcards

1
Q

What are the factors/drivers influencing globalization?

A 
Internet 
Jet engine 
Lower taxes 
Free trade agreement 
End of Cold War
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2
Q

Types of Global Value Chains

A

Buyer Driven GVC
Outsource
Producer driven GVC
Off shore

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3
Q

Governance of GVC

A 
Hierarchical structure 
Captive value chains 
Relational structure
Modular structure 
Market structure
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4
Q

Measures of globalization

A

Economic integration
Cultural integration
Technological integration
Political integration

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5
Q

Why are the four factors of globalization of business enterprises

A

Globalization of markets
Value chain
Capital
Knowledge and talent

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6
Q

Factors influencing globalization

A

Rapid industrialization of emerging markets
Liberalization of international trade and investment
Advancement of information, telecommunication and transport technologies

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7
Q

Ecuadorian roses

A

Some of the best roses in the world
Rich countries sell the most, they create the market
Ecuador has a great environment to grow roses
Benefits for Ecuador include more income, empowering woman worker and economic boost
Negative consequences include poor working conditions and child labour

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8
Q

Costs of globalization and benefits of globalization

A 
Costs 
Erodes cultural diversity 
Exploitation of labour 
Environmental degradation 
Loss of sovereignty 
Rising unemployment 
Rising income disparity 
Benefits 
Economic growth 
Trade expansion 
Higher standard of living 
Poverty reduction 
Greater transparency 
Higher productivity
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9
Q

Factors that make up values,

Norms and attitudes

A 
Education 
Religion 
Communication and language 
Aesthetics and symbols 
Political philosophy 
Social structure
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10
Q

4 levels of culture

A

National culture
Business culture
Organizational culture
Occupational culture

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11
Q

Measures of culture

A 
Power distance 
Masculinity vs femininity 
Universalism vs particularism 
Uncertainty avoidance 
Individualism vs collectivism 
Long term vs short term
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12
Q

Cultural intelligence

A

Capability of an individual to recognize cultural differences, adapt and successfully interact with people of different cultures

Cultural adaptation Cultural knowledge
Cultural curiosity Cultural sensitivity

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13
Q

Characteristics of culture

A 
Culture is shared 
Learned
Taken for granted 
Relative 
Interrelated 
Adaptive 
Symbolic 
Pervasive
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14
Q

3 types of international managerial orientation

A

Polycentric mindset: adapt to foreign culture

Ethnocentric mindset: change everything to the root culture

Geocentric mindset: combine foreign and root culture

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15
Q

Suggested factors influencing institutional transformation in Eastern Europe

A 
Religious divide 
  Muslim and Eastern Orthodox 
      Respect for authority 
      Disregard for legal rules 
Imperial history 
  Austro Hungarian empire 
      European values 
  ottoman and Russian empire
      Rejected path to democracy
      Autocratic 
Dominance of major ethnic groups

Level of urbanization

Dependence on natural resources

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16
Q

Factors influencing the rise of authoritarian tendencies

A 
Anti globalization sentiment
Global financial crisis and euro zone crisis 
Austerity measures 
Income inequality
Global terrorism 
Immigration 
Fear
17
Q

Ways of managing political risks

A 
Assessment of political system 
Adapting to host country
Collaboration with foreign stakeholders 
Splitting the product value chain
Purchase of foreign direct investment insurance 
Lobbying policy makers
18
Q

Managing intellectual property rights

A

Ensure legal protection through patents, trade marks and copy rights
Prosecute any violation of intellectual property
Careful selection of host country business partners
Careful selection of employees
Split global value chain
Fair product prices

19
Q

Government trade policy instruments

A 
Tariffs 
Embargo/sanctions
Quotas
Subsidies 
Local content requirements 
Low interest loans
20
Q

What is mercantilism

A 
A country's wealth is measured by its holdings of treasure 
Ex>imports 
Tariffs to reduce imports 
Subsidies to increase exports 
Zero sum game
21
Q

Explain the theory of factor proportions

A

Sources of comparative advantages include endowments of land, labour and capital

22
Q

Explain New trade theory

A

Trade between countries with similar endowment

Specialization and increasing returns to scale

Imperfect competition due to first mover advantage

Barriers to entry

23
Q

Explain the porter diamond theory

A

Theorizes that national competitive advantage is embedded in four determinants

Factor endowments
Demand conditions
Related and supporting industries
Firm strategy, structure and rivalry

24
Q

Name 3 business implications

A

Location implications
Disperse production activities to countries where they can be produced more efficiently -national competitive advantages matter

First mover implications

Policy implications
Promoting free trade in best interests of home country

25
Q

Why governments interfere with international trade?

A

Humanitarian reasons

Military threats

Security

Cultural

Economic

26
Q

3 ways of analyzing national economic opportunities

A

Economic system

Macroeconomic environment

Industry environment

27
Q

Name and explain the Distinguishable economies

A

Command economies:government owns production and distribution, price controls

Mixed economies : government & private ownership, distribution by price mechanism, higher taxes

Market based economies: entirely private ownership, distribution through PM, free market entry exit, no government intervention

Economies in transition : command to market based, changing regulations, privatization, economic liberalization

28
Q

Failure of command economics

A

Too complex
Misallocation of resources
Poor quality of goods and services slow economic growth
Lack of innovation

29
Q

Success of market economic system

A

Competition
Higher productivity
Efficient allocation of resources
Encourages innovation

30
Q

Categories of economic development

A

Developed countries : highly industrialized, well developed health care, well developed banking

Newly industrializing countries: high rates of economic growth

Developing countries : extraction industries and tourism, high debt, underdeveloped infrastructure and social sector

BMG215 (1 decks)

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