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D080 Module 1 Questions and Answers Graded A globalization ✔✔process by which people and goods (products, technology, information, ideas, job opportunities) move across boarders regulate global economic environment ✔ ...

D080 Module 1 Questions and Answers Graded A globalization ✔✔process by which people and goods (products, technology, information, ideas, job opportunities) move across boarders regulate global economic environment ✔✔International Monetary Fund, World Bank, World Trade Organization globalization drivers ✔✔economics, transportation, international cooperation fundamental aspects of globalization ✔✔trade and transactions, capital and investment movements, migration and movement of people, the dissemination of knowledge areas of globalization ✔✔economy, politics, culture cultural globalization ✔✔transmission of ideas, meanings, values around the world - extends and intensifies social relations (formation of shared norms and knowledge with which people associate their individual and collective cultural identity) World Trade organization ✔✔provide framework for negotiation and formalizing trade agreements and a spite resolution process International Bank for Reconstruction and Development (The World Bank) ✔✔aid in economics development and cooperation financial instrument ✔✔a monetary contract between parties stages of going global ✔✔market entry, product specialization, value chain disaggregation, value chain reengineering, creation of new markets market entry ✔✔enter new countries using models similar to ones deployed in home markets product specialization ✔✔companies transfer production process of a particular product to a single low cost location and export the goods to different markets value chain disaggregation ✔✔companies separate the production process and focus on completing each activity in the most advantageous location value chain reengineering ✔✔companies seek to increase cost savings by rejigging their processes to suit local market conditions (lower cost labor for capital) creation of new markets ✔✔focus = market expansion//company able to lower sticker prices and to expand demand industry globalization drivers ✔✔underlie conditions in each industry and create potential for industry to become more global market, cost, competition, government opportunities for scale ✔✔cost advantages due to an increase in the amount of output and decrease in cost per unit market ✔✔opportunity for scale, convergence of needs cost ✔✔economies of scale and scope, e

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