click below
click below
Normal Size Small Size show me how
Globalization
Unit 1
| Question | Answer |
|---|---|
| Globalization | Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. |
| General Agreement on Tariffs and Trade (GATT) | A treaty designed to promote free trade by reducing tariffs and nontariff barriers to international trade. |
| World Trade Organization (WTO) | An international organization that enforces the rules of international trade. |
| Regional trade agreement | The aims of each of these smaller trade pacts are similar to those of the WTO but are regional in nature. |
| Forces of globalization | A potent force transforming our societies and commercial activities in countless ways |
| International business environment | Influences how firms conduct their operations in both subtle and not so subtle ways. |
| National business environments | Composed of unique cultural, political, legal, and economic characteristics that define business activity within the nation borders. |
| International firm management | Vastly different from the management of a purely domestic business. |
| Multinational Corporation | Business that has direct investments abroad in multiple countries |
| Born-Global Firm | Takes a global perspective on its market and engages in international business from inception |