Exam 1: Globalization

Critics of globalization argue that it eliminates jobs and lowers wages in developed nations and exploits workers in developing countries.

Whereas relocating production to low-cost locales traditionally meant production of ________ almost exclusively, it increasingly applies to the production of ________.

A business that has direct investments (in the form of marketing or manufacturing subsidiaries) abroad in multiple countries is called a ________.

There was a first age of globalization that extended from ________.

Define imports and exports and explain the main ways in which they differ.

Why are entrepreneurs and small companies increasingly active in international trade and investment?

In this current age of globalization, small companies are increasingly active in international ________ and ________.

Scenario: Donna Bader, Global Executive Donna Bader is a successful global business executive with 15 years marketing experience throughout Europe. Donna is participating in a forum designed to prepare young executives for their initial forays into international business. -Which of the following statements would Donna argue AGAINST?

Results of studies support critics' allegations that economic openness and foreign investment contribute to lower labor standards.

In 1947, political leaders of 23 nations made history when they created the ________, a treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.

A key to international success for global managers is to ________.

Key characteristics of a ________ are an innovative culture and knowledge-based organizational capability.

The ________ is the international organization that enforces the rules of international trade.

There is very little or no export financing available for small businesses.

A "backlash to globalization" in the early 1800s helped usher in high tariffs and barriers to immigration.

Openness to international trade allows a nation's businesses to become more efficient and pass the resulting savings on to consumers.

Globalization benefits companies by allowing them to sell the same products worldwide with little or no ________.

What are several myths that keep small companies from engaging in exporting and the facts that dispel these myths?

Although studies tend to conclude that global inequality has risen in recent decades, they differ on the extent of the rise in global poverty.

________ are special areas in which companies engage in tariff-free importing and exporting.