Olin

1.1 What is the value of goods and services that all nations of the world export every year?

Goods: 16.2 Trillion

Services: 4.7 Trillion

1.1 A business that has direct investments in marketing or manufacturing subsidiaries in multiple countries is called a what?

Multinational Corporation

1.1 A born global firm engages in international business from or near its inception and does what else?

They as well tend to have innovative cultures and knowledge-based organization skills.

1.2 Globalization causes the institutions and economies of nations to become what?

More free flow with how they do their business, or in other words, Denationalized.

1.2 What benefits might companies obtain from the globalization of markets?

Reducing Market Costs, Creates New Market Opportunities, Levels Uneven Income Streams, Local Buyer's needs, Global Sustainability

1.2 Sustainability is development that meets present needs without compromising what?

The needs of those in the future.

1.3 What global organizations have helped expand globalization?

World Trade Organization, The World Bank, The International Monetary Fund (IMF)

1.3 What technological innovations are helping to propel globalization?

e-business or e-commerce (Email, The Internet, Company Intranets and Extranets, Advancements In Transportation Technologies)

What nations rank high in terms of globalization?

1. Netherlands, Ireland, Belgium, Austria, Switzerland, Denmark, Sweden, United Kingdom, France, Hungary.

1.4 In the debate over jobs and wages, opponents of globalization say that it does what?

Eliminates Jobs In Developed Nations, Lowers Wages in Developed Nations, Exploits Workers In Developing Nations,

1.4 In the debate over jobs and wages, supporters of globalization say that it does what?

Increases Wealth and Efficiency of All Nations, Generates Labor Market Flexibility in Developed Nations, Advances The economies of Developing Nations

1.5 Evidence suggests that globalization can help developing nations boost incomes for their poorest citizens in what part of the debate over inequality?

Inequality Within Nations

1.5 In the debate over inequality between nations, evidence suggests that developing nations that are open to trade and investment do what?

Increasing personal incomes, extending life expectancies, improving education systems.

1.5 Regarding the debate over global inequality, experts tend to agree on what?

Global Inequality as a whole, and some might only disagree on the extent of the fall.

1.6 People Opposed to globalization say it does what to National Cultures?

It homogenizes the world and destroys the rich diversity of cultures.

Regarding national sovereignty, opponents of globalization say that it does what?

It erodes national sovereignty and encroaches on the authority of state and local governments.

With regard to the physical environment, what do globalization supporters argue?

They argue that it is not factually correct that globalization exploits weak environmental laws. Only about 5% of these firms in the world commit this.

1.7 What employability skills will this course help you to develop?

Critical thinking skills, A keener sense of of business ethics and social responsibility, communication skills, knowledge application and analysis

It helps to think about international business as four elements (Globalization, International, National, Firm) that occur within a what?

Global System

How does managing an International firm differ from managing a purely domestic business?

You must abide by different rules set by the country you are doing business in. You as well have to be in contact with your fellow employees or subordinates overseas. You must be knowledgeable of the nation that you are expanding into.