Exam 1: Globalization

Each national business environment is composed of unique cultural, political, legal, and economic characteristics that define business activity within that nation's borders.

Although multinational corporations are economically very powerful, the revenue of the world's largest business is still far below the gross domestic product of the smallest nation.

Research has found that only large companies can export successfully.

________ is a measure of a nation's income over a one-year period that excludes income generated from its international activities.

Scenario: Jeans, Unlimited Jeans, Unlimited produces clothing for young adults. It designs its clothes at its New York headquarters, and produces them at facilities in two Southeast Asian countries. The company recently received negative press after one of its facilities was found using questionable, albeit legal, labor practices including employing child labor and operating in a manner that damages the environment. -The facilities that Jeans, Unlimited operates in Southeast Asia are examples of ________.

Globalization is the trend toward greater economic, cultural, ________, and ________ interdependence among national institutions and economies.

Large companies from the least developed nations dominate international business.

The three main branches of the debate over income inequality are inequality within nations, inequality between nations, and ________.

In this current age of globalization, companies are ________ earlier and ________ faster, often with help from technology.

In the debate over inequality, studies suggest that developing nations are unable to boost incomes of their poorest members of society by integrating themselves into the global economy.

Few international firms support reasonable labor and environmental laws because future local markets for their goods and services are likely to be small.

A major flaw of the original General Agreement on Tariffs and Trade (GATT) was that it lacked the power to ________.

Intranets provide access to a company's computer network from distant locations using personal computers.