IBUS 330 Chapter 3 Globalization Internationalization

What has been the result of making improvements to​ Nigeria's cell phone​ infrastructure?

Enhancing economic growth and productivity

Which of the following best explains the globalization of​ production?

Firms reduce manufacturing costs and retail prices by moving manufacturing activities to nations with lower costs of labor.

​________ refers to the steady assimilation and increasing interdependence of economies.

Globalization of markets

Many small enterprises are creating products for international markets using​ 3-D printers. Product plans and designs can be found simply by searching online. Using the Internet to design products is an example of which area of technological​ advancement?

Information technology

Which term describes the knowledge and process of creating and utilizing informational​ resources?

Information technology

Which of the following statements regarding information technology is​ accurate?

Information technology has created a competitive advantage for firms by allowing them more opportunities to outdo their competitors.

When a company transfers its​ value-chain activities by launching a subsidiary in a foreign​ country, it is called​ ________.

offshoring

India has become a prominent provider of software​ technologies, and Brazil has become a frontrunner in commercial aircraft development. Which cause of globalization is illustrated by these​ examples?

​Industrialization, economic​ growth, and innovation

Which of the following represents the trend of economic disaster spreading from one country to​ another?

Contagion

​Consumers' daily​ lives, partialities toward​ products, and spending habits all over the world are becoming increasingly similar. Popular brands now have global​ followings, and materials are becoming more standardized. This represents which dimension of​ globalization?

Convergence of customer preferences and standards

A grocer in Niagara​ Falls, Ontario, regularly bought vegetables from farmers in​ Rochester, New York. The invention of the telephone made it much easier for the grocer to call the New York farmers to ask about current prices and adjust her selling prices. In what phase of globalization did this situation​ occur?

1830 to the late 1800s

In​ 2015, which region had the smallest proportion of Internet​ users?

Africa

Which of the following is an example of globalizing​ manufacturing?

An Indian apparel company sets up a factory in Madagascar.

The trend of financial crises spreading from one country to another is known as​ ________.

Contagion

Which cause of globalization best explains why some emerging markets have increased their standards of living and become competitive producers and exporters of computers and​ software?

Economic development and industrialization

​________ involves a company paying external suppliers and​ contractors, who are located in foreign​ nations, to perform​ value-adding activities.

Global outsourcing

​________ inspires corporations to establish their​ sourcing, producing, and promoting activities on a worldwide scale in order to attain lower costs with higher efficiency.

Globalization

Which of the following is considered an important measure of economic development of a country that often characterizes lower levels of​ globalization?

Gross national income per person

Which dimension of market globalization is a result of the North American Free Trade​ Agreement, as well as other​ countries' agreements that have facilitated reduced trade barriers among their​ members?

Growth of regional economic integration blocs

​China, India, and Eastern Europe have become known as​ cost-effective places for producing goods and​ services, and they have attracted an increasing amount of foreign capital into their economies. Which driver of globalization best explains this​ occurrence?

Market liberalization and implementation of open markets

​________ involves companies transferring​ value-chain activities to more economical sites in foreign countries.

Offshoring

Which dimension of globalization involves the unrestricted movement of capital and the expanded networks of economies throughout the​ world?

Progression of international investments and financial activities

Which of the following globalization drivers increased monetary connectivity and simplified​ cross-border transactions?

The integration of global financial markets

What should governments do to reduce the harm of globalization while also acquiring the benefits associated with​ globalization?

Regulate financial institutions appropriately.

Which of the following is an upstream​ value-chain activity?

Research and development

ABC Enterprises transferred some of its manufacturing and other​ value-chain activities to a more​ cost-effective location in China five years ago.​ Recently, ABC Enterprises has undergone a change in​ management, and the new manager has decided to move those​ value-chain and manufacturing activities back to the home country. In which of the following is ABC​ participating?

Reshoring

Which phase of globalization is composed of the growth and supremacy of multinational enterprises in the industrial and agricultural​ industries?

Second Phase

​________ refers to the degree of competence a country has in overseeing its own matters. It implies that the laws of one country cannot be applied to another country.

Sovereignty

Which phase of globalization was triggered by the rise of electricity and steel​ production?

The second phase

Which of the following terms represents the arrangement of activities conducted by a company in the course of​ creating, manufacturing,​ promoting, and servicing a​ product?

Value chain

The​ ________ consists of approximately 150 countries worldwide and was created to control and safeguard fairness in international trade and investments.

WTO (World Trade Organization)

The formation of the WTO and the emergence of economic integration blocs led to​ ________.

a global decrease in barriers to trade

The sequence of activities implemented by a company in the course of​ creating, manufacturing,​ promoting, and servicing a product is known as​ ________.

a value chain

One of the most noteworthy influences on globalization has been​ ________.

advances in​ technology, including​ communications, data, and engineering

The spread of Starbucks around the world is an example of the​ ________ of markets.

globalization

The greatest significance of globalization is reflected directly in a​ company's ________.

value chain