WGU Global Business FVC1 V2 and D080 Module 1-4 Already Passed

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WGU Global Business FVC1 V2 and D080 Module 1-4 Already Passed What is globalization? ✔✔international integration arises from the interchange of world views, products, ideas, and other aspects ... of culture. What are the economic effects of globalization ✔✔Trade Investment Information Technology What are the political effects of globalization ✔✔Recue the importance of nation-states NGOs What are the cultural effects of globalization ✔✔Transmission of ideas, meanings, and values around the world. What is International Business ✔✔Relates to any situation where the production or dist og goods and svcs crosses country borders Opportunity is boosted in globalization as trade and investment barriers are reduced What are the different forms of international business ✔✔Organizations Government Organizations NGOs (Non-Government Org) What is the 1st stages of going Global ✔✔Market Entry-Companies enter new countries using business models similar to the ones deployed in their home markets. What is the 2nd stage of going Global ✔✔(product specialization), companies transfer the full production process of a particular product to a single, low-cost location and export the goods to various consumer markets. What is the 3rd stage of going Global ✔✔(value chain disaggregation) represents the next step in the company's globalization of the supply chain infrastructure; companies disaggregate the production process and focus on completing each activity in the most advantageous location. What is the 4th stage of going Global ✔✔(value chain reengineering), companies seek to further increase their cost savings by reengineering their processes to suit local market conditions by substituting lower cost labor for capital. What is the 5th stage of going Global ✔✔(creation of new markets), the focus is on market expansion. 4 Industry Globalization Drivers ✔✔1. Market Opportunities - opportunity for scale and scope; Convergence of needs 2.Cost Drivers-Economies of scale and scope; Exploiting cost of factors of production 3. Competitive Drivers- New Markets and increased level of trade 4. Government Drivers- Favorable Policies; Support for industries Benefits of Global Expansion ✔✔Larger Markets Lower Costs Advanced technologies Challenges of Global Expansion ✔✔-Ethical business concerns -Organizational structure -Public Relations -Leadership -Legal and regulatory structure Pros of Globalization ✔✔-Economic Growth -Increased well-being of human society -increased trade and investment Cons of Globalization ✔✔-Benefits the rich at the expense of the poor -Job loss in developed countries -Environmental damage and unethical practices of labor -Loss of power of local government Globalization 1.0 ✔✔1st Stage of globalism started with Columbus's discovery of the New World and continued from 1492 to about 1800 and is pushed forward by nationalism and religion. Globalization 2.0 ✔✔2nd stage of globalization 1800 to 2000, was disrupted by the Great Depression and both world wars and was largely shaped by the emerging power of huge MNCs and is characterized by advances in methods of transportation. Globalization 3.0 ✔✔3rd stage of globalization began around 2000 and is characterized by advancements across the board, especially technology and communication. What is the World is Flat Theory by Friedman? ✔✔10 factors had influential roles in making the world smaller, but each worked in isolation until, the convergence of three more powerful forces: new software and increased public familiarity with the internet, the incorporation of that knowledge into business and personal communication, and the market influx of billions of people from Asia and the former Soviet Union who want to become more prosperous quickly. What is the Cage analysis by Ghemawat? ✔✔1. Cult [Show More]

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