Intl Biz 1

Question 0

What is the most global of markets?

Answer 0

Markets for industrial goods and markets that serve universal need.

Question 1

What is meant by “globalization of markets”?

Answer 1

Merging separate national markets into one global market.

Question 2

How does international trade differ from international investments?

Answer 2

Trade equals exports, investments equals manufactured goods

Question 3

What was accomplished by the Uruguay round of GATT?

Answer 3

Reduce trade barriers, extended GATT to cover services

Question 4

How is technology change effected global trade and investment?

Answer 4

Made a tangible reality, telecommunication, the web, transportation.

Question 5

How is the source of world output changed since 1960?

Answer 5

US reduced in industrial countries

Question 6

How has FDI investment flows changed since 1980?

Answer 6

US well and 14%, France & developing raised. Hope to stifle US.

Question 7

What are the concerns voiced by globalization opponents?

Answer 7

Job loss, decrease in wage rates of unskilled workers, environmental Degradation, cultural imperialism of global media, multinational enterprises.

Question 8

What accounts for the economic stagnation of some of the world’s poor countries?

Answer 8

Totalitarian government, expanding population, large debts.

Question 9

How is managing an international business different from managing a purely domestic business?

Answer 9

Varies in market strategies, where it is placed, ethical issues of law labor, which country to enter/avoid, countries are different, wider/complex problems, within limits of barriers, regulations and other country policies, conversion of the dollar.

Question 10

How does collectivism differ versus individualism?

Answer 10

Collective goals, socialism versus freedom and self-expression.

Question 11

What are the various forms of totalitarianism?

Answer 11

Communist, theocratic, tribal and right wing.

Question 12

How does a command economy differ from market economy?

Answer 12

Command: goods/services, quantity, price by government, religious freedom, restrict’s individual political freedom to prevent communism

Question 13

What are three main types of legal systems in use around the world?

Answer 13

Common, civil, Theocratic

Question 14

What does the foreign corrupt practices act attempt to do?

Answer 14

Stop corruption: bribery, cheating, pressuring, etc.

Question 15

What are the various types of intellectual property?

Answer 15

Products of the mind protected by patents, copyrights, trademarks.

Question 16

What is it meant by “human development Index”?

Answer 16

Quality-of-life in a country based on life expectancy at birth, educational attainment, whether average income meets cost-of-living.

Question 17

How does deregulation differ from privatization?

Answer 17

Deregulation: removal of government restrictions concerning conduct of business. Privatization: state to private.

Question 18

How do first mover advantages contrast with late mover disadvantages?

Answer 18

First mover: build brand loyalty, gain experience in countries business transactions.

Question 19

What are three types of risk when doing business in another country

Answer 19

Political, economic, legal.

Question 20

How do cultural values differ from cultural norms?

Answer 20

Values: belief of good, right, desirable. Norms: rules to adhere too.

Question 21

How does the social structure of “the East” differ from “the West”?

Answer 21

The East: more group, social oriented. West: more individual.

Question 22

How does a caste system differ from a class system?

Answer 22

Case is based on family/a very nonremovable. Class more movility possible

Question 23

What is it meant by “class consciousness”?

Answer 23

Perceived in terms of class background used to shape relationships.

Question 24

What are the implications of the Protestant work ethic?

Answer 24

Work hard and systematically, frugality, capitalism

Question 25

What are the economic implications of Islam?

Answer 25

Prohibits interest, Pro free ent. And property rights.

Question 26

What is Hinduism?

Answer 26

Devoting life to spiritual rather than material quest.

Question 27

What is Buddhism?

Answer 27

Noble eight fold path for spiritual enlightenment; suffering from desire and pleasure.

Question 28

What are Hofstead’s for dimensions of culture?

Answer 28

Power distance, individualism versus collectivism, uncertainty avoidance, masculinity versus femininity

Question 29

What is the danger of ethnocentrism?

Answer 29

Disregard or contempt for the culture of other countries.