Global Business Issues Butler Exam 2 With Error-Free Solutions
7 views 0 purchase
Course
Biology
Institution
Biology
Employment Practice - Correct Answer When workplace standards in the country of operation are inferior to those in the home country, which standards should apply
Sullivan Principles - Correct Answer ethically justified to operate in a country where human rights are violated if:
-Companies...
Global Business Issues Butler Exam 2 With Error-Free
Solutions
Employment Practice - Correct Answer When workplace standards in the country of
operation are inferior to those in the home country, which standards should apply
Sullivan Principles - Correct Answer ethically justified to operate in a country where
human rights are violated if:
-Companies will not obey local laws
-Company will promote an end to human rights violations
Tragedy of the commons - Correct Answer occurs when resources owned in common
(no single owner) are overused, resulting in degradation
4 categories of ethical issues - Correct Answer -Employment practices
-Human rights
-Pollution
-Corruption
Corruption - Correct Answer Gaining economic advantage through payment to officials
Corporate Social Responsibility - Correct Answer -Business should consider social
consequences of their business objectives
-Businesses should prioritize actions that have both good economic and social
consequences
-CSR implies philanthropic focus
Sustainability - Correct Answer -Addressing the needs of the current generation
without compromising the ability for the future generations to meet their needs
-Balance of 3 Ps: People, Planet, Profit
Phillips and sustainability - Correct Answer healthy people, sustainable planet
Green innovation - Correct Answer products that offer a signifigant improvement of
one or more of the following:
-energy
-packaging
-elimination of restricted substances
Free Trade Controversies - Correct Answer -Macro-benefits/micro-pain
-Is free trade fair trade?
-Global citizens vs national sovereignity
, Mercantilism - Correct Answer -It is in a countries best interest to maintain a trade
surplus (exports>imports)
-Advocated government intervention to achieve a trade surplus
absolute advantage - Correct Answer -What a country does better than their trading
partners
-Specialization: never produce a good locally when you can buy it for a lower cost
elsewhere
Comparative Advantage - Correct Answer -Specialize in the goods and services you
produce the most efficiently
-Import goods a country produces less efficiently, even it can produce the more
efficiently than another country
Principles of International Trade Theory - Correct Answer -free trade is positive for all
countries
-world production
Limitations of International Trade Theory - Correct Answer -not all resources can move
from one product to another
-people in less efficient areas of work will be adversely affected
-Diminishing returns: all resources are not the same quality, the more you need, the
lower quality of incremental resource
Offshoring - Correct Answer the practice of moving certain business activities to
foreign countries as a way to reduce costs, avoid taxes
Outsourcing - Correct Answer obtaining goods or services from an outside supplier of
an internal source
first-mover advantage - Correct Answer Economic and strategic advantages that
accrue to early entrants to an industry
Flattener #6: What happened? - Correct Answer -China joined WTO
Flattener #6: why was China joining WTO signifigant? - Correct Answer -China agreed
to follow the rules for international trade
-All WTO members would be treated equally by the Chinese
Flattener #6: Benefits and Costs of offshoring to China - Correct Answer -Benefits:
access to low cost of labor/overhead, access to the market, global competitiveness,
mitigate trade barriers
-Costs: Loss of IP, unfair competition, management, treated like Chinese
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victoria108. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
