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