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Exam 2: Globalization of Markets and the Internationalization of the Firm

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Question 31

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Which of the following reflects the major contribution of GATT to globalization?

A) It instituted strict controls on international currencies.
B) It simplified patent and copyright laws.
C) It reduced barriers to international trade and investment.
D) It eliminated the divide between the rich and the poor.

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Question 32

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Environmental destruction diminishes as economies develop, at least in the long run.

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Question 33

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Internationalization Conference (Scenario) At a conference on business internationalization strategies, representatives of three different businesses meet to discuss a joint venture between their companies. Business A is located in a country that internationalized during the second phase of globalization. Business B is based in a country that internationalized during the third phase of globalization. Business C is located in an emerging market country. -The representative from Business C is most likely from ________.

A value chain is ________.

Companies strive to drive down prices ________, among other strategies.

The initial phase of globalization was triggered by the introduction of the railroads and ocean transport.

Technological advances have helped make internationalization affordable for all sizes of firms.

The Internet has increased the cost of transmitting voices, data, and images.

Global Operations Report (Scenario) As Vice President of Global Expansion for Pax Telecom, Deva Mikiri is tasked with preparing a comprehensive report on the company's global operations over the past 20 years. Deva assigns three strategists to collaborate on the History portion of the report, which details the rationale behind Pax's decisions to expand operations in particular areas. Rashid Ahl focuses on early expansion to China, which occurred after China began to make its market more accessible to foreign companies. Markus Teller focuses on Pax's expansion to Eastern Europe, which was motivated by increased industry privatization in key countries. Lavonne Jackson focuses on expansion to Japan, which happened when the company's commercial bank expanded its service network to Asia. -Which of the following drivers of market globalization is Lavonne's research most likely to recognize as the factor responsible for the company's expansion to Japan?

Which of the following statements is TRUE about value chain and international business?

What is implied by industrialization? How does it bring about economic development?

What is meant by the internationalization of a firm's value chain?

The 2011 "Arab Spring" in the Middle East was facilitated in large part by social media.

Global Operations Report (Scenario) As Vice President of Global Expansion for Pax Telecom, Deva Mikiri is tasked with preparing a comprehensive report on the company's global operations over the past 20 years. Deva assigns three strategists to collaborate on the History portion of the report, which details the rationale behind Pax's decisions to expand operations in particular areas. Rashid Ahl focuses on early expansion to China, which occurred after China began to make its market more accessible to foreign companies. Markus Teller focuses on Pax's expansion to Eastern Europe, which was motivated by increased industry privatization in key countries. Lavonne Jackson focuses on expansion to Japan, which happened when the company's commercial bank expanded its service network to Asia. -To which of the following drivers of market globalization is Markus most likely to attribute his company's expansion to Eastern Europe?

Governments have facilitated economic integration by ________.

Early multinationals from the third phase of globalization originated in ________.

Stella manages the production team at Camden Inc., a manufacturer of heavy industry machinery in the United States. She needs to decide if her firm should export finished products or manufacture abroad. Which of the following would most likely help her evaluate the best alternative in this instance?

Nationalization refers to the gradual integration and growing interdependence of national economies.

In a short essay, explain the concept of sovereignty. How does globalization affect sovereignty?

In terms of international business, market globalization can be viewed as a ________.