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

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

While a degree of cultural imperialism may be at work, it is offset by the countertrend of ________.

To minimize globalization's harm and reap its benefits, governments should strive for nationalized economic regimes.

Countries that liberalize international trade and investment enjoy faster per-capita economic growth.

Firms that are more successful at global competition display each of the following qualities EXCEPT ________.

Which of the following stages comes before procurement in a firm's value chain?

In a short essay, discuss the impact of market globalization on consumer lifestyles and preferences around the world. Provide examples to illustrate your answer.

The relocation of manufacturing and other value-chain activities to cost-effective locations abroad is known as ________.

Mobile phones are the most transformative technology in developing economies.

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 ________.

Which of the following statements is true of technological advances?

Reduction in trade barriers is associated with the emergence of ________.

Financial market integration makes it possible for internationally active firms to ________.

Governments have facilitated economic integration by lowering barriers to international trade and investment, harmonizing their monetary and fiscal policies within regional economic integration blocs.

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

In a typical value chain, the firm ________.

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

As market globalization intensifies, ________.

The third phase of globalization was triggered by the development of personal computers, the Internet, and Web browsers.

Globalization Debate (Scenario) In his international business class, Professor Jang organizes a debate on the societal effects of market globalization. Juan Prince takes a position that highlights the negative effects of market globalization. He emphasizes how multinational enterprises can wield so much influence that they threaten national sovereignty. He also notes the prevalence of low wages and sweatshop conditions as firms utilize low-cost labor abroad. Juan then describes the detrimental effects of corporate pollution on the environment, and he ends his argument by explaining how market globalization helps homogenize national cultures. Rina Taylor is assigned to counter Juan's position. -Which of the following most likely supports Rina's argument over Juan's concerning wages and working conditions in developing countries?