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International Business Class Globalization – what does it all mean and why me?
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Globalization
After doing this review, you should be able to:
Discuss what globalization is
What are the key drivers
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WRONG
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4. Question #1
Globalization is the shift away from a more integrated and interdependent world economy.
TRUE
FALSE

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6. Question #2
What has made it easier to globalize business around the world?
Increase government protectionism
Falling trade barriers
Fewer companies going overseas, leading to a shrinking of the world marketplace

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8. Question #3 Tastes & Currency & Trading barriers Tastes Preference &
What two things are starting to converge into a global norm, thus helping to drive globalization?
Tastes &
Trading barriers
Currency &
Tastes
Preference &
Legislation
Tastes &
Preference

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10. Question #4 Who is the facilitators of a new, global “norm” trend?
governments
Individuals
multi-national firms

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12. Question #5
What is the percentage of companies that participate in exporting their products?
35%
70%
90%
80%

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14. Question #6
Which of the following is not a “push back” to globalization?
cultural value systems
consumer tastes
Legal regulations
Availability of improved transportation

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16. Agricultural Products
Question #7
Most global markets currently are markets for?
Consumer Products
Industrial products
Agricultural Products

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18. Question #8
The markets materials that serve a _____________ need are wanted the world over.
Consumer need
Universal need
Production need

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20. Question #9 What drives the growth of mini MNEs around the globe?
Improved Containerization
Improved transportation
Location
Improved communications

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22. Stable governmental structure
Question #10
Which one of these is NOT a characteristic of Latin American economies?
Low growth
Stable governmental structure
Hyperinflation
High debt

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24. Question #11 Which of the following is NOT a factor of production?
Land
Capital
Labor
Transportation

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26. Question #12 What has driven the global trade in services?
Decreased government regulations
Communications
Increased transportation
Reduced trade barriers

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28. Question #13
The dispersal of production facilities to separate geographical locations was driven by?
Improved containerization
Decreased transportation costs
Reduced production costs
Regional Trading Blocks

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30. Question #14
When conducting business transactions across national borders, the most important thing for managers is to?
Know regulations for specific trading blocks
Understand government requirements
Focus on currency conversion rates

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32. Question #15
Because of globalization, more nations are joining the ranks o/t developed economies.
TRUE
FALSE

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34. Environmental Pressure
Question #16
If a foreign company undertakes investments in the United States, this is done because of?
Political Pressure
Environmental Pressure
Trade barriers
Labor Pressure

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36. Question #17
The greatest majority of world out has taken place because of output in United States business has increased.
FALSE
TRUE

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38. Question #18
What has been the tangible cause of the globalization of world markets?
Technological change
Lowering of trade barriers
Improved transportation
Increasing formation of trade blocs

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40. Question #19 Decreased transportation costs have led to?
Geographically diverse production facilities
Longer transportation time
Regional trade blocks

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42. Question #20 The current economic trend in China is …
More government control
More trade barriers
free market activity
Less overall foreign investment

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44. Question #21 The attraction of firms to Eastern Europe is because?
Low trade barriers
More government control
Highly educated labor pool
More government control

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46. Question #22
Why do firms disperse parts of their production process to various parts of the world?
To offset legal regulation in the home market
Because environmental barriers in home markets have decreased
To take advantage of the differences in the cost of FoP

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48. Question #23 A global web of suppliers yields…
Stronger environmental laws
Lowering of trade barriers
Increased containerization technology
Better final product

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50. Question #24
In 2009 & 2010 drop in global consumer demand led to a 2.3% …
Increase in environmental laws
Contraction of the world economy
Increase in world trade
Decrease in trade barrier legislation

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52. Question #25
Globalization of markets result in a firms finding their home markets …
Increasing income potential
Under attack from competitors
Decreasing costs for labor

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54. Question #26
Even though global output has been shrinking, cross border trade is increasing. What does this tell us?
Production overseas has been declining
There is a decline in regional trade blocks
National economies are becoming more integrated

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56. Question #27
Which of following is NOT a result of strengthening economic policies…
Deregulation of environmental policies
Increased labor wages in the home market
Privatization of state owned industry
Increased market competition

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58. Question #28
What major country is seeing a reverse and moving away from the trend of globalization?
Canada
Brazil
Russia
Chad

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60. Question #29 The inability to finance international trade led to the …
Increasing in regional trade blocs
Contraction of the global economy
Reduced wages in home countries
Increasing income potential

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62. Question #30
The driving reason why non-U.S. firms move production activity to low cost labor countries is a desire to …
Become part of a regional trade bloc
Reduced wages in home countries
Be part of the first mover trade process
Participate in major foreign markets

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64. Question #31
Why do many Japanese firms invested in North America and Europe?
To offset changes in environmental laws in Japan
hedge against possible imposition of trade barriers
As a strategy to drive down labor costs in Japan

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66. Question #32
Why do former communist nations have such great market potential?
They are quickly joining regional trade block
The labor force is not developed, but has potential to learn
They have been traditionally under-served, especially in service markets

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68. Question #33
Which of the outsourcing functions is easiest for a company to do?
Marketing
Production facilities
Managerial operations
Customer service

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70. Question #34
Commercial jet aircraft have had little if any impact on globalization.
TRUE
FALSE

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72. Question #35
Most people in the political majority in industrialized countries favor a further reduction in trade barriers.
FALSE
TRUE

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74. Question #36
The risks associated with global contagion are because of?
Cross global labor production
Reduction of trade barriers
Interlocked financial markets

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76. Question #37 Who are the leaders in globalization trends? Governments
Companies
Individual Consumers

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78. Global transportation costs
Question #38
Super freighters and containerization have lead to a dramatic reduction in …
Trade barriers
Production Quotas
Global transportation costs
Foreign country wages

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80. Election of Ronald Reagan
Question #39
What world event was the “starting point” for the globalization and increased world trade?
End of World War One
End of World War Two
Election of Ronald Reagan
End of the Cold War

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82. Question #40
Foreign Direct Investment (FDI) is when a business takes a / an _______________ role in business activities outside of its home country.
Passive
Active

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84. Question #41 Moore’s Law tell us that…
Every 18 months microprocessor speed doubles and price is cut in half
Every 18 months microprocessor speed doubles and price doubles
Every 18 months microprocessor speed doubles and the price remains the same

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86. Question #42
The potential for business returns in the former communist countries is high because…
The governments are swinging back to totalitarian policies
The economies have been closed for more than a ½ century
Both young and old are coming together to make the economy work

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88. Within regional trading blocs
Question #43
Containerization has lead to a significantly lowering of shipping costs over …
Short Distances
Within regional trading blocs
Long distances
No effect at all

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GREAT JOB!
Good work completing the review. If you feel comfortable with these questions (and know the answers) you are ready for the test.
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91. Test Structure
I test will look like the review. Most questions will either be multiple choice or True / False. No essay or fill in the blank. Don’t forget to check the review over the weekend, as I will update info there.
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92. Good luck on the test!
May the force be with you.