Group 1 - 4 Flashcards
(26 cards)
Is the process by which economies, societies, cultures, and politics become more interconnected and integrated across national borders.
Globalization
This network of trade routes connected Europe, Africa, and Asia and the facilitated the exchange of goods, technologies, and ideas.
Silk Road
In the 18th and 19th centuries led to the emergence of global markets and increased trade between Europe, America, and Asia.
Industrial Revolution
International organizations
Aimed to promote economic cooperation and development between countries.
Are the interconnected systems enabling the global of goods, services, capital, and people.
Structures of Globalization
Refers to the fragmentation of production processes across different countries and the increasing internationalization of production.
Globalization of Production
This refers to the practice of contracting out specific business processes or functions to external service providers, typically in other countries.
Outsourcing
This refers to the practice of relocating a part or all of a company’s production processes to another country, typically to take advantage of lower labor cost or other factors such as favorable tax laws or regulation
Offshoring
Refers to the process where companies expand their operations beyond their domestic market and operate in multiple countries around the world.
Globalization of Corporation
Refers to a company or corporation that operates in more than one country which has significant investments and facilities in multiple countries and is usually headquartered in one country.
Global Corporation
A more general term that can refer to any type of business that operates internationally, whether it is a corporation, a small business, or a sole proprietorship.
Global Business
Refers to the spread of technological innovations and advances across national borders.
Globalization of Technology
Refers to the movement of people across national borders in search of employment opportunities.
Globalization of Labor
Refers to the increasing interconnectedness of markets across national borders.
Globalization of Markets
Refers to the flow of capital and corporate investments between various countries.
Globalization of Finance
Refers to the spread of management practices, organizational structure, and standards across national boundaries.
Globalization of Organizational Regimes
Refers to the process of bringing different regional or national markets together to from a single, larger market that is more efficient, effective and competitive.
Market Integration
Is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company.
Vertical Integration
Is a business strategy in which one company grows its operations at the same level in an industry.
Horizontal Integration
Is a form of vertical integration in which a company expands its role to fulfill tasks formerly completed by businesses up the supply chain.
Backward Integration
Happens when a business improves its production cycle by taking control of all the stages in the supply chain to create its product. It takes place inside of the distribution channel.
Forward Vertical Integration
Any merger that is not horizontal or vertical; in general, it is the combination of firms in different industries or firms operating in different geographic areas.
Conglomerate Merger
Year of the creation of the German Customs Union, or Zollverein.
1834
Year where regional trade agreements were formed, including the Benelux Customs Union(Belgium, Netherlands, and Luxembourg) and the Scandinavian Monetary Union(Denmark, Norway, and Sweden).
Late 19th and early 20th centuries
