(P) L3: Market Integration (Transes-based) Flashcards
This is the result of the establishment of a global economy that involved the homogenization of trade and commerce
Global Market Integration
This refers to the process of making things uniform or similar, allowing different establishments, big or not, to work together globally
Homogenization
T or F: Many countries across the world are trading their products and/or services only to their domestic country
False
Enumerate the different companies
Conglomerate
International Companies
Transnational Companies (TNCs)
Multinational Companies
Global Companies
This is a corporation of several different (sometimes unrelated) business
Conglomerate
Refers to when one company owns a controlling stake in several smaller companies, conducting business separately and independently
Conglomerate
An example of this is Bench which handless Bench Barbers, Kashieca, Human
Conglomerate
These are those that sell their product in foreign countries by exporting and might as well involve importing
International companies
These don’t have any foreign direct investment in the countries (no establishments) and decision-making functions is always taken from the home country of the company
International companies (like Walmart which only exports)
These are more complex organizations that have investments in foreign operations, have a central corporate facility, but give decision-making, R&D, an marketing powers to each individual foreign markets
TNCs
T or F: TNCs differ from international companies as the latter lets their foreign countries decide
False (reverse, TNCs are the ones that let their foreign companies decide; International companies have decision-making in their home country)
An example of this would be Telus International
TNCs
These have facilities and other assets in at least one country other than its home country; generally has offices and/or factories in different countries and a centralized head office where they coordinate global management
MNCs
T or F: MNCs’ decision-making is more focused on adapting their quality servicces to each local market
True
An example of this type of company would be Nestle
MNC
T or F: Global companies and MNCs are almost the same
True
Which has a wider scope between global companies and MNCs?
Global companies
SM Prime Holdings is an example of which type of company?
Conglomerate and international company
Who founded SM?
Henry Sy
Term which refers to an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state
Capitalism
Term which refers to the working class/ wage-workers
Proletariat
Term which refers to a dominant position of an industry or a sector by one company, to the point of excluding all other viable competitors (Siya lang nagbebenta ng product or ganoong service)
Monopoly
T or F: Workers belong to the lowest or one of the lowest economic or social class
True
Term which refers to the priority to general rules applying equally to all persons, and therefore the rejection of particularistic preferences in most spheres
Universalism
Term which refers to a business organization that sells goods or services to make a profit
Firm
Term which refers to a company that belongs to another company, which is usually referred to as the parent company or the holding company
Subsidiary
T or F: In conglomerates, subsidiaries are those different types of business/branches
True
