Test Review Page

Question 1

Global standardization strategy

Answer 1

This strategy involves offering standardized products or services across various markets with minimal customization

Question 2

localization or multi domestic strategy

Answer 2

This strategy emphasizes adapting products or services to meet the specific preferences, cultural nuances, and requirements of individual markets, or regions

Question 3

transnational strategy

Answer 3

The strategy combines elements of both global standardization and localization

Question 4

What are the advantages of a global standardization strategy?

Answer 4

Emphasis is on economies of scale, resulting in proportionate, cost savings gain through efficient, production of goods in large quantities

Question 5

what are the disadvantages of global standardization strategy?

Answer 5

It does not respond to individual cultures that it requires significant organization and communication between countries

Question 6

What is a multi domestic strategy?

Answer 6

It is a strategy where companies invest in other countries, but do not have coordinated product offering in each country decisions are decentralized made with local needs and customs in mind

Question 7

what are the advantages of a multi domestic strategy?

Answer 7

it involves less political risk and exchange rate risk increase product and a greater response to local needs

Question 8

What are the disadvantages of a multi domestic strategy?

Answer 8

it’s more expensive to implement and reduces economies of scale

Question 9

what is a transnational strategy

Answer 9

It’s a strategy where companies invest in foreign operations, maintaining central corporate facility, but giving decision-making, R&D and marketing powers to each individual foreign market

Question 10

what are the advantages of a trans international strategy?

Answer 10

It combines the best elements of global and multi domestic strategies with manufacturing taking place at the least expensive sources in human resources, and marketing managed at the local level

Question 11

what are the disadvantages of a transnational strategy?

Answer 11

Combining the best elements of a global and multi domestic strategy results in a much more complex organization

Question 12

What is the TPP?

Answer 12

The transpacific partnership was a proposed trade agreement on 12 Pacific Rim countries aimed at reducing trade barriers, promoting economic growth, and establishing common standards

Question 13

what is Luxx leaks?

Answer 13

Luxe leaks refers to the release of confidential documents in 2014 that revealed tax avoidance schemes in Luxembourg

Question 14

what is the purpose of the European Union?

Answer 14

The European Union aims to promote economic and political cooperation among its member states to peace, stability and prosperity

Question 15

what are the three governing bodies of the EU what is each one’s purpose?

Answer 15

European commission it proposes and enforces EU laws manages policies represents the EU internationally and manages the EU budget.

European council comprises the heads of state or government of EU member countries and sets the overall political direction and priorities

European Parliament, directly elected by citizens, it debates and passes laws overseas the commissions work and represents citizens

Question 16

List three expected benefits from CETA

Answer 16

increase trade CET aims to eliminate tariffs and facilitate trade, potentially boosting, economic growth.

Enhanced regulatory cooperation that promotes alignment of regulations and standards between and reducing barriers and trade and investment

Job creation expected to create new job opportunities, and increase market access for business, Canada and the EU

Question 17

What does the World Trade Organization do? (three points)

Answer 17

A forum for negotiations. The WTO is a place where countries can discuss their trade disparities and come to mutually agreeable solutions.

A set of rules the WTO rules or agreements have been negotiated and signed by the governments of member countries to set guidelines portrayed between countries, they promote the flow of goods and services across borders and eliminate barriers

Dispute settlement. The WTO is a form for countries to result mediate and arbitrate discrepancies in how countries have interpreted their trade agreements

Question 18

What is the Asia Pacific economic cooperation in short APEC

Answer 18

Asia, Pacific economic cooperation, APEC work focusses on three pillars
Trade and investment liberalization, business facilitation, economic, and technical operation

Question 19

Group 7 or G7

Answer 19

The purpose of G7 is to discuss macro economic issues, such as economic growth, trade, liberalization, and helping develop in countries. The G7 is also concerned the highway terrace of climate control, energy, arms, control, crime, and drugs.

Question 20

Group of 20 G20

Answer 20

The group of 20 was established during the economic crisis of the 1990s to provide a discussion form for the major economies of the world creation of G20 filled the need to develop beyond G7 acknowledge the influence that country, such as Brazil, Russia, Indian China have on world economics and trade

Question 21

what does BRICS stand for?

Answer 21

Brazil, Russia, India, China, South Africa

Question 22

Organization for economic cooperation, and development OECD

Answer 22

The organization for economic cooperation and development is a trade organization for the advancement of democracy and market economies

Question 23

what is the mission of the OECD?

Answer 23

Promote economic growth, expand employment, improve the standard of living, sustain financial stability help countries, economic development, enhance world trade

Question 24

World bank

Answer 24

Main activities would include lending money to developing countries, and providing training and banking regulations and exchange rates

Question 25

International monetary fund IMF

Answer 25

The international monetary fund is an organization that tracks, economic trends, analyzes countries, financial performance one’s governments a political financial problems provides expertise to governments and provides a forum for discussion

Question 26

IMF purpose

Answer 26

To promote financial stability, prevent and solve economic crisis, encourage growth and prevent and relieve poverty

Question 27

IMF accomplishes three activities

Answer 27

encouraging countries to adopt responsible, economic policies, Lending money to emerging in development countries, Providing technical training in area, such as banking regulations, and exchange rate policies

Question 28

what is the organization of petroleum?

Answer 28

OPEC

Question 29

What’s Grexit

Answer 29

refers to the hypothetical scenario of greece leaving the eurozone due to its financial troubles during sovereign debt crisis

Question 30

what’s brexit

Answer 30

stands for “british exit” from the european union which occurred when the united kingdom voted in a referendum to leave the EU in 2018

Question 31

five main purposes of the UN

Answer 31

maintain international peace and security protect human rights deliver humanitarian aid support sustainable development and climate action uphold international law

Question 32

what is general assembly

Answer 32

the assembly is the policymaking and representative body of UN

Question 33

what is the paris agreement

Answer 33

the Paris agreement is a legally vid ing international treaty on climate change

Question 34

what do countries do under the paris agreement to address greenhouse admissions

Answer 34

countries communicate actions they will take to reduce their greenhouse gas emissions in order to reach the goals of paris agreement

Question 35

what do countries include in their NDCs (Nationally Determined Contributions) regarding climate change adaption

Answer 35

countries communicate actions they will take to build resilience and adapt to the impacts of climate change

Question 36

what is the vision of the Paris Agreemnt regarding technology development and transfer

Answer 36

envisions fully realizing technology development and transfer to both improve resilience to climate change and reduce greenhouse gas emission

Question 37

what is CSR

Answer 37

The duty of the companies management is to work in the best interest of the society relies on for resources, human material and environmental to advance the welfare of society and act as a global citizen through its policies

Question 38

benefits of corporate social responsibility

Answer 38

Companies use CSR as a marketing tool being socially responsible to situates governments from implementing regulations that might interfere with business companies attract and retain excellent employees if they have a solid CSR practice

Question 39

some criticism of corporate social responsibility

Answer 39

Being socially responsible cost companies money which reduces profit companies spend valuable time and employee energy and CSR instead, they could concentrate on maximizing shareholders wealth

Question 40

what is a stakeholder?

Answer 40

Individuals or groups affected by the organization that have a stake in its success and profitability

Question 41

primary stakeholder and example

Answer 41

Stakeholders, including custom suppliers, competitors and employees directly affect the company, and it’s probability. These stakeholders are of critical importance, and their interest should be considered first.

Question 42

secondary stakeholders and examples

Answer 42

Stakeholders also have an impact on the company, but do not directly includes success, or contribute to its profitability

Question 43

Provide a list of primary stakeholders

Answer 43

Primary day holders include employees, management, customers, and stakeholders

Question 44

provide a list of secondary stakeholders

Answer 44

Competitors, creditors, banks, foreign and domestic governments, and labour unions media

Question 45

if two examples of primary stakeholders in a sentence

Answer 45

employees and customers are essential primary stakeholders who directly impact in our impacted by the companies operations 

Question 46

give two examples of secondary stakeholders

Answer 46

competitors and foreign governments are secondary stakeholders who influence and are influenced by external environment

Question 47

what is corporate social responsibility

Answer 47

Corporate social responsibility refers to a companies commitment to conduct business in an ethical manner, considering its social environmental and economic impact CSR initiatives aim to contribute positively to society while ensuring sustainable business practises

Question 48

give two examples of primary stakeholders, the rise and fall of times in a sentence explain what CSR is and how the company either has positive or negative CSR

Answer 48

and rise and fall of Tom’s employees who believed in the companies, mission and customers who supported the one for one model, are crucial primary stakeholders as their engagement and loyalty, directed impact directly impacted Tom’s profitability and growth. Tom had a positive CSR initially, with its mission to donate a pair of shoes for every pair sold