1. Explain the difference between globalization of markets and globalization of
ID: 389087 • Letter: 1
Question
1. Explain the difference between globalization of markets and globalization of production.
2. Falling barriers to international trade destroy manufacturing jobs in developed countries. Do you agree or disagree?
3. Why is it important for a firm to understand a country’s political system?
4. What is a state-owned nationalized company? Why do they usually perform poorly?
5. Describe the different types of economic systems a firm could encounter venturing into overseas markets.
6. Describe the different types of legal systems worldwide.
7. What are the ways businesses can protect intellectual property overseas?
8. Discuss the differences between deregulation and privatization.
9. List the determinants of culture.
10. How does the Koran view business?
11. What is meant by Confucian dynamism and why should business understand it?
12. What is meant by the spoken and the unspoken language?
13. What is business ethics and why is it important in overseas environments?
14. Are bribes always prohibited in overseas business transactions?
15. Are there problems with a firm adopting the “when in Rome do as the Romans” approach to ethics?
Explanation / Answer
1)
Globalization of market is the process of merging the different market in the world to a single market by identification of commonality in taste, values, products etc. so that common product can be circulated all across. It is the highly challenging job due to different preferences of people all over the world
Globalization of production means to shift the production units in different countries and supply from there to local market. There are various possible reasons for this which includes:
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