Module 1 Flashcards
The International Business Imperative
MSA
More and more firms around the world are going global, including what?
Manufacturing firms
Service companies (i.e. banks, insurance, consulting firms)
Art, film, and music companies
International business causes the flow of what across the world?
ideas, services, and capital
What does international business offer consumers?
new choices
International business permits the acquisition of a wider variety of?
products
International business facilitates the mobility of?
labor, capital, and technology
It provides challenging employment opportunities.
Internation Business
International business reallocates resources, makes preferential choices, and shifts activities to what level?
global level
It consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations.
International business
ELMFF
What are the types of International Business?
Export-Import Trade
Licensing
Management Contracts
FDI
Franchising
2WHSS
List the 5 International Business Questions.
- What product adjustments are necessary to be responsive to local conditions?
- What are the threats from global competitors, and how can these threats be counteracted?
- How will an idea, good, or service fit into the international market?
- Should trade or investment be used to enter a foreign market?
- Should supplies be obtained domestically or abroad?
In International Business and the Roman Empire, what ensured that merchants were able to travel safely and rapidly?
Pax Romana or Roman Peace
In International Business and the Roman Empire, what simplified business transactions?
common coinage
The growth of the Roman Empire occurred mainly through what?
the linkages of business
IPDD
The decline of the Roman Empire can be attributed in part to?
- infighting and increasing decadence
- Pax Romana being no longer enforced
- decline of use and acceptance of the common coinage
- declining levels of communication
UAE
United States has developed a world leadership position due to what?
- use of market-based transactions in the Western world
- a broad flow of ideas, goods, and services across national borders
- encouragement of international communication and transportation
What do you call an American sponsored and enforced peace?
Pax Americana
What US law raised import duties to reduce the volume of goods coming into the U.S. ?
Smoot-Hawley Act
Why was Smoot-Hawley Act passed?in the hope that it would restore domestic employment
in the hope that it would restore domestic employment
What was the result of Smoot-Hawley Act?
worldwide depression and the collapse of the world financial system
In the past 30 years, the volume of international trade has expanded from what number to what number?
$200 billion to over $7.5 trillion
The sales of foreign affiliates of multinational corporations are how much of that as global exports?
twice as high
What was created by the international business that bind countries, institutions, and individuals with trade, financial markets, technology, and living standards?
global links
In the recent changes in international business, what happened to total world trade after 2000?
declined dramatically but is again on the rise
In the recent changes in international business, the rate of globalization is what?
accelerating
In the recent changes in international business, regionalization is taking place, resulting in what?
trading blocs
In the recent changes in international business, the participation of countries in world trade is what?
shifting
What happened to the manufactured goods and primary commodities between the 1960’s and the 1990’s?
importance of manufactured goods increased while the role of primary commodities (i.e. rubber or mining) had decreased
IBO
In the US, what is important in its macroeconomic level in terms of balancing the trade account?
international business outflows
In this level, participation in international business can help firms achieve economies of scale that cannot be achieved in domestic markets.
microeconomic level
Why are there the availability of international products and services accessed by individuals in many countries, from diverse economic backgrounds?
Because of globalization
