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WGU Global Business FVC1 V2 and D080 Module 1-4 Exam Graded A+
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WGU Global Business FVC1 V2 and D080 Module 1-4 Exam Graded A+
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WGU Global Business FVC1 V2 andD080 Module 1-4 Exam Graded A+
What is globalization? - ANSWER
international integration arises from the interchange of world views, products, ideas, and
other aspects of culture.
What are the economic effects of globalization – ANSWER Trade
Investment
Information Technology
What are the political effects of globalization – ANSWER Recue the importance of
nation-states
NGOs
What are the cultural effects of globalization – ANSWER Transmission of ideas,
meanings, and values around the world.
What is International Business – ANSWER 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 – ANSWER Organizations
Government Organizations
NGOs (Non-Government Org)
What is the 1st stages of going Global – ANSWER 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 – ANSWER (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 – ANSWER (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 – ANSWER (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.
, WGU Global Business FVC1 V2 and
D080 Module 1-4 Exam Graded A+
What is the 5th stage of going Global – ANSWER (creation of new markets), the focus
is on market expansion.
4 Industry Globalization Drivers - ANSWER1. 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 – ANSWER Larger Markets
Lower Costs
Advanced technologies
Challenges of Global Expansion - ANSWER-Ethical business concerns
-Organizational structure
-Public Relations
-Leadership
-Legal and regulatory structure
Pros of Globalization - ANSWER-Economic Growth
-Increased well-being of human society
-increased trade and investment
Cons of Globalization - ANSWER-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 - ANSWER1st 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 - ANSWER2nd 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.
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