WGUD080 COMPLETED2023 WITHCORRECT ANSWERS.What is globalization?-Answer When international integration arises from theinterchange of world views, products, ideas and cultures.What are business opportunities that are presented by globalization?-AnswerTrade, transactions, capital andinvestment movements. The migration andmovement of people and the dissemination of knowledge.Culture effects of globalization-Answer Ideas, meanings, values. Decreaseduniqueness by once isolated communities.Political effects of globalization-Answer Reduces importance of nation statesEconomic effects of globalization-Answer International movement of goods, capital,services and technology and information.What are arguments for globalization?-Answer Access to broader market, gainsaccess tocheap labor.What are arguments against globalization?-Answer Needs to understand foreignlegal and political policies.Market entry (Five stages of entering a global market)-Answer Companies enternew country's using business models similar to the ones in home market.Production Specialization (Five stages of entering a global market)-AnswerCompanies transfer the full production process of a product to a single location.Value Chain Desegregation (Five stages of entering a global market)-AnswerDesegregating the the production process and focus on completing each activity in abetter location. (different areas)Value Chain Reengineering (Five stages of entering a global market)-AnswerCompanies seek to further increase their cost savings byreengineering theirproduction process.Creation of New Markets (Five stages of entering a global market)-Answer Allowscompanies to lower their sticker prices in both new and old markets.Cost Driver (4 drivers of globalization)-Answer Refers to product development,manufacturing, and sourcing.Competitive Driver (4 drivers of globalization)-Answer New markets, increased levelof trade.Market Driver (4 drivers of globalization)-Answer Customer needs. Preferencesvary by product.Preview Mode
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