Chapter 5 Global Business Today

In: Business and Management

Submitted By ainnes
Words 915
Pages 4
Andrea Innes
Review Questions
March 8, 2012

Global Business Management
Terri Brown

3. Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition. Is such competition “unfair?” Do you think that this argument is in the best interests of (a) the unions (b) the people they represent (c) The country as a whole

The Comparative advantage theory says that if a country should specialize in producing those goods that it can produce most efficiently, while buying goods that it can produce relatively less efficiently from other countries. It also says that opening a country to free trade stimulates economic growth. If a low-wage countries can produce certain products more efficiently than high wage countries, the low wage countries should produce and export those products. Trade barriers are supposed to protect workers and the companies, but they are only a short-term fix. By protecting industries the government is not encouraging companies to be more efficient. Consumers end up losing on this deal because they have to pay higher prices and have fewer choices.

4. What are the potential costs of adopting a free trade regime? Do you think governments should do anything to reduce these costs? What?

Having a free trade regime will create job loss in some industries. One thing the government could do is provide retraining programs. On the other hand jobs are lost every day and they don’t get government help to find a new job.

5. Reread the Country Focus on “Is China a Neo-Mercantilist Nation?”
a) Do you think China is pursuing an economic policy that can be characterized as neo-Mercantilist?
b) What should the United States, and other countries, do about this?

I do think China follows a neo-mercantilist…...

Similar Documents

Business Today

...pharmaceutical and medical device companies face a number of significant risks, all of which are exacerbated by industry practices.  Here are the top 5 corruption risks. 1.  State-Owned Enterprises The foreign healthcare business is worth billions of dollars in revenues.  Pharmaceutical and medical device companies depend on foreign sales to foreign hospitals and doctors.  These interactions are governed by the FCPA with limitations on giving anything of value to doctors, nurses or other healthcare professionals with a corrupt intent to increase or retain business.  Many of the enforcement actions involve direct payments made to foreign hospitals or doctors in exchange for commitments to purchase or recommend drugs or devices to hospitals and/or patients. 2.  Third Party Agents In many countries, particularly China, pharmaceutical companies have to rely on a network of third party agents, subagents and distributors to interact with public hospitals, doctors and other healthcare professionals.  In China, individual agents are required for each individual public hospital, who in turn will rely on subagents.  The number can quickly add up in these markets. Due diligence review, approval and monitoring can be a real challenge for any compliance department.  Third party agents rely on systems for making improper payments to further their business and companies have to be careful to avoid or restrict such possibilities. 3.  Sponsorship of Medical Conferences A continuing......

Words: 692 - Pages: 3

The Impact of the Global Recession Within Business Today

...------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate ------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Business Report The Impact of the Global Recession on CRM within business Elaine McGrath K00121928 (CRM) Customer relationship management is a business strategy for managing organisations interactions with their customers, their clients and their future sales prospects .It uses technology to organise and automate their business processes such as sales and marketing activities, customer service and technical support. According to a Goldman Sachs Study CRM is considered the second most important initiative after security for business. The overall goals of CRM are to seek out, find and win new clients and to implement strategies......

Words: 2609 - Pages: 11

Contemporary Business Chapter 5

...Introduction This paper provides an overview of the outline of the three legal forms of business ownership, and summarizes the features of businesses owned by employees and families, as well as not-for-profit organizations defining and describing the concepts application. Objectives The goal 7, in chapter 5 introduces the concepts of the levels of corporate management, outlining what are the three main legal forms of business ownership and summarize the features of businesses owned by employees and families, as well as not-for profit organizations. Methodology/Concepts: definition Regardless of its size, every business is organized according to one of three categories of legal structure: sole proprietorship, partnership, or corporation. A sole proprietorship is owned and operated by one person; while a partnership consists of two or more persons carrying on a business for profit. The business is not a separately taxed entity, but rather, a conduit where the profit or losses of the partnership flow through to the partners. Partnerships are relatively easy to set up, but they do not offer protection from liability. A corporation is a legal entity that is separate and distinct from its owners. Investors receive shares of stock in the firm. The most important aspect of a corporation is limited liability, what means owners have no legal and financial liability beyond their individual investments. In a businesses owned by employees are another alternative in creating...

Words: 409 - Pages: 2

Todays Business

... Revision No. | Date | 0 | 10/1/2012 | Submitted By: Analytical Services, Inc. (ASI) 350 Voyager Way Huntsville, AL 35806 This document includes data that shall not be disclosed outside the Government and shall not be duplicated, used, or disclosed—in whole or in part—for any purpose other than contract execution. The Government shall have the right to duplicate, use, or disclose the data to the extent provided in the contract. This restriction does not limit the Government's right to use information contained in this data if it is obtained from another source without restriction. Table of Contents Government Property Management Plan Signature Page………………………………………... 4 Revision History………………………………………………………………………………….. 5 Government Property Management Plan…………………………………………………………. 6 1.0 Property Management..…………………………………………………………………… 6 1.1 Management and Applicability....………………………………………………………… 6 1.1.1 Distribution.……………………………...……………………………………………….. 6 1.1.2 Operations Manager (OM) Responsibilities..……..……………………………………… 6 1.1.3 OSAC COMMSS PSA/Property Custodian Responsibilities……..……………………… 7 1.1.4 Employee Responsibilities..……….……………………………………………………… 7 1.1.5 Meetings and Training.…………………………………………………………………… 7 1.2 Reporting of Loss, Damage, and Distribution of Property..……………………………… 7 1.2.1 Installation Accountable Government Property.………………………………………….. 8 1.2.2 Contractor......

Words: 4696 - Pages: 19

Global Busines Today

...Global Production, Outsourcing, and Logistics Chapter Outline OPENING CASE: Building the Boeing 787 INTRODUCTION STRATEGY, PRODUCTION AND LOGISTICS WHERE TO PRODUCE Country Factors Management Focus: Philips in China Technological Factors Product Factors Locating Production Facilities THE STRATEGIC ROLE OF FOREIGN FACTORIES Management Focus: Hewlett Packard in Singapore OUTSOURCING PRODUCTION: MAKE-OR-BUY DECISIONS The Advantages of Make The Advantages of Buy Trade-offs Strategic Alliances with Suppliers MANAGING A GLOBAL SUPPLY CHAIN The Role of Just-in-Time Inventory The Role of Information Technology and the Internet SUMMARY CRITICAL THINKING AND DISCUSSION QUESTIONS CLOSING CASE: Li & Fung Learning Objectives 1. Explain why production and logistics decisions are of central importance to many multinational businesses. 2. Explain how country differences, production technology and product features all affect the choice of where to locate production activities. 3. Discuss how the role of foreign subsidiaries in production can be enhanced over time as they accumulate knowledge. 4. Identify the factors that influence a firm’s decision of whether to source supplies from within the company, or from foreign suppliers. 5. Articulate what is required to efficiently coordinate a globally dispersed production system. Chapter......

Words: 6454 - Pages: 26

Business Policy Chapter 5-8

...Chapter 5 DISCUSSION QUESTIONS What is the relevance of the resource-based view of the firm to strategic management in a global environment? it permits the organization to be seen as a whole In doing so, the strengths and weaknesses within the firm can be examined.   This is done because as stated in the Hunger & Wheelen (2006, 106) text, "scanning and analyzing the external environment for opportunities and threats is not enough to provide an organization a competitive advantage." five-step, resource-based approach to strategy analysis: 1) Identify and classify the firm's resources in terms of strengths and weaknesses. 2) Combine the firm's strengths into specific capabilities and core competencies. 3) Appraise the profit potential of these capabilities and competencies in terms of their potential for sustainable competitive advantage and the ability to harvest the profits resulting from their use. 4) Select the strategy that best exploits the firm's capabilities and competencies relative to external opportunities. 5) Identify resource gaps and invest in upgrading weaknesses. How can value-chain analysis help identify a company’s strengths and weaknesses? You can use value chain analysis to ensure that each business activity you are involved in creates value for your customers and to help identify your company’s strengths and weaknesses. The value chain analysis process begins with examining each of the activities you and your employees do to create a......

Words: 880 - Pages: 4

Information Systems in Global Business Today

...information technology) that people and organizations use to collect, filter, process, create, and distribute data.[1][2][3][4][5] The study bridges business and computer science using the theoretical foundations of information and computation to study various business models and related algorithmic processes within a computer science discipline.[6][7][8][9][10][11][12][13][14] Computer Information System(s) (CIS) is a field studying computers and algorithmic processes, including their principles, their software and hardware designs, their applications, and their impact on society[15][16][17] while IS emphasizes functionality over design.[18] Any specific Information System aims to support operations, management and decision making.[19] In a broad sense, the term is used to refer not only to the information and communication technology (ICT) that an organization uses, but also to the way in which people interact with this technology in support of business processes.[20] Some authors make a clear distinction between information systems, computer systems, and business processes. Information systems typically include an ICT component but are not purely concerned with ICT, focusing instead on the end use of information technology. Information systems are also different from business processes. Information systems help to control the performance of business processes.[21] Alter argues for an information system as a special type of work system. A work system is a system in......

Words: 352 - Pages: 2

Information Systems in Global Business Today

... Chapter 1 Information Systems in Global Business Today Learning Objectives 1. How are information systems transforming business and what is their relationship to globalization? 2. Why are information systems so essential for running and managing a business today? 3. What exactly is an information system? How does it work? What are its management, organization, and technology components? 4. What are complementary assets? Why are complementary assets essential for ensuring that information systems provide genuine value for an organization? 5. What academic disciplines are used to study information systems? How does each contribute to an understanding of information systems? What is a sociotechnical systems perspective? Chapter Outline 1.1 The Role of Information Systems in Business Today How Information Systems Are Transforming Business What’s New in Management Information Systems? Globalization Challenges and Opportunities: A Flattened World The Emerging Digital Firm Strategic Business Objectives of Information Systems 2. Perspectives on Information Systems What Is an Information System? Dimensions of Information Systems It Isn’t Just Technology: A Business Perspective on Information Systems Complementary Assets: Organizational Capital and the Right Business Model 3. Contemporary Approaches to Information Systems Technical Approach Behavioral Approach Approach of This Text: Sociotechnical Systems 1.4 Hands-On......

Words: 7278 - Pages: 30

Global Business Today

...\ eighth edition Global Business Today CharlesW. L Hill University of Washington McGraw-Hill Irwin contents PREFACE xiii PART ONE Chapter One Introduction 4 What Is Globalization? 6 The Globalization of Markets 6 The Globalization of Production 7 The Emergence of Global Institutions 9 Drivers of Globalization 11 Declining Trade and Investmen t Barriers 11 The Role of Technological Change 14 The Changing Demographics of the Global Economy 16 The Changing World Output and World Trade Picture 16 The Changing Foreign Direct Investment Picture 18 The Changing Nature of the Multinational Enterprise 19 The Changing World Order 22 The Global Economy of the Twenty-First Century 23 The Globalization Debate 24 Antiglobalization Protests 24 Globalization, Jobs, and Income 26 Globalization, Labor Policies, and the Environment 28 Globalization and,National Sovereignty 29 Globalization and the World's Poor 30 Managing in the Global Marketplace 31 Key Terms 33 Chapter Summary 33 Critical Thinking and Discussion Questions 34 Research Task 34 Closing Case: Legal Outsourcing 35 Introduction and Overview 2 Globalization 3 PART TWO Chapter Two Country Differences 36 National Differences in Political Economy 37 Opening Case: Ghana: An African Dynamo 37 Introduction 38 Political Systems 39 Collectivism and Individualism 39 Democracy and Totalitarianism 42 Economic Systems 44 Market Economy 44 Command Economy 45 Mixed Economy 45 Legal Systems 46 Different Legal Systems 46 Differences...

Words: 2427 - Pages: 10

Business Today

...1 1.2 Research contributions 3 2. Theory 4 2.1Trust vs. customer trust 5 2.2 Customer trust vs. online trust 8 2.2.1 Define customer trust in online shopping 8 2.2.2 The importance of customer trust in online shopping 9 2.2.3 Findings from past studies 9 2.3 E-business Vs E-drugstore 12 2.3.1 A glance of pharmaceutical industry & drugstore sector 14 2.4 Website factors that might affect the perceptions of customers’ online trust 18 2.4.1 Website factors VS consumer factors 18 2.4.2 Discussion of website factors 19 3. Methodology, data, and model 36 3.1 Methodology and data collection 36 3.2 Model & analysis 37 3.2.1 Variance analysis 37 3.2.2 Factor analysis 40 4. Results and discussion 43 4.1 Results for research questions 43 4.2 Results from factor analysis 47 5. Managerial implications 49 6. Limitation and further research 54 7. Conclusion 56 Appendix A: Customer trust survey 57 Appendix B: Factor analysis of attributes of websites factors (Heavy Loadings) 58 Appendix C: Frequency table 59 References 60 1. Introduction 1.1 Research motivation and objectives It is commonly accepted that e-business is beneficial to the further growth and success of businesses, government, and not-for-profit organizations (Sultan et al, 2002). Specifically, the advent of the Internet has brought new business opportunities to the retail industry. However, no matter how wonderful e-business is, many small businesses still cannot participate in the online market......

Words: 16013 - Pages: 65

Mkt 505 Assignment 1 Global Business Today

...505 ASSIGNMENT 1 GLOBAL BUSINESS TODAY To purchase this visit here: http://www.activitymode.com/product/mkt-505-assignment-1-global-business-today/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 505 ASSIGNMENT 1 GLOBAL BUSINESS TODAY MKT 505 Assignment 1 - Global Business Today – The Hofstede Study Refer to Hofstede model in Chapter 4 of the Textbook and the Global Business Today Interaction, and complete this assignment.Note: the Global Business Today Interaction can be found in the online course shell. Write a three to four (3-4) page paper in which you: 1. Create a problem statement for the client, Azure Sky Tea, based on the Hofstede model. 2. Classify possible combinations of countries for location of the Azure Sky Tea’s offices based on the Hofstede model. Include a discussion of the home country’s (U.S.) relative position on the Hofstede scales as compared to other countries.Note: Utilize the Hofsetede module to include all parameters (i.e., individualism, uncertainty, power distance, masculinity) for the classification. 3. Choose two (2) countries as potential locations for the Azure Sky Tea’s new international offices. Next, develop a set of specific recommendations for the company. In your recommendations: a. Include the preliminary data that you gathered in the previous question. More Details hidden... Activity mode aims to provide quality study notes and tutorials to the students of MKT 505 Assignment 1 Global Business Today in order to ace......

Words: 715 - Pages: 3

Chapter 5

...Personality and Values Organizational Behavior Chapter Outline I. Personality A. B. Definition of Personality Personality Determinants II. The Myers-Briggs Type Indicator A. B. C. D. Extraverted/Introverted Sensing/Intuition Thinking/Feeling Judging/Perceiving III. The Big 5 Personality Model A. B. C. D. E. Openness Conscientiousness Extraversion Agreeableness Emotional Stability or Neuroticism Chapter Outline IV. Other Personality Traits Relevant to Organizational Behavior A. B. C. D. E. F. G. Core Self-Evaluation Machiavellianism Narcissism Self-Monitoring Risk Taking Proactive Personality Other Orientation V. Values A. B. Definition and Importance Terminal vs Instrumental Values 1. Rokeach Value Survey Chapter Outline VI. Generational Values A. B. Dominant Values in the Workplace Linking an Individual’s Personality and Values to the Workplace 1. Person-Job Fit 2. Person-Organization Fit VII. International Values A. B. Hofstede’s Five Dimensions of National Culture 1. Power Distance 2. Individualism vs Collectivism 3. Masculinity vs Femininity 4. Uncertainty Avoidance 5. Long-term vs Short-term Orientation The GLOBE Framework for Assessing Cultures I. Personality ● Personality includes the relatively stable feelings, thoughts, and behavioral patterns a person has ○ ● makes us distinct from other people, and understanding someone’s personality gives us......

Words: 1296 - Pages: 6

Succeeding in Business Using Excel 2013 Chapter 5

...Chapter 5: Retrieving Data for Computation, Analysis, and Reference TRUE/FALSE 1. A data list that categorizes values you want to retrieve is called a linkup table. ANS: F PTS: 1 REF: 291 2. A vertical lookup table is a lookup table in which the data to be searched is organized in columns. ANS: T PTS: 1 REF: 294 3. When you write a VLOOKUP formula, you indicate the value you want to look up in a table. ANS: T PTS: 1 REF: 294 4. If a lookup_value is smaller than the smallest value in the first column of table_array, VLOOKUP opens up the Lookup Wizard. ANS: F PTS: 1 REF: 297 5. When using a VLOOKUP function it’s not always obvious when a returned value is incorrect. ANS: T PTS: 1 REF: 298 6. When you use a lookup type of TRUE, the VLOOKUP function looks only for an exact match of the lookup value. ANS: F PTS: 1 REF: 299 7. Headings at the top of each column should be included as part of the lookup_range in the VLOOKUP formula. ANS: F PTS: 1 REF: 301 8. When creating a vertical lookup table with the TRUE type, be certain to start with the lowest possible value, such as 0, so that the table covers all the possible data. ANS: T PTS: 1 REF: 301 9. The syntax of the HLOOKUP function is as follows: HLOOKUP(lookup_value,table_array,row_index_num,range_lookup) ANS: T PTS: 1 REF: 303 10. The rules for an HLOOKUP function with a TRUE lookup type test the values down the first column. ANS: F PTS: 1 REF: 304 11. A...

Words: 3779 - Pages: 16

Information Systems in Global Business Today

...Chapter 1 Information Systems in Global Business Today Case 1: UPS Global Operations with the DIAD IV Tags: UPS global operations; handheld computers; wireless mobile platform; digital firm; integration of business; customer value generation. Summary How IT drives the UPS operation worldwide. Using smart people and smart technology, UPS delivers over 14 million packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wirelessly connected to UPS main databases located in seventeen major data centers throughout through out the world. L= 3:15. URL: http://careertv.com/video.php?mediaid=5Kb0tr9e-mNWk3iIvp3GZQ Case United Parcel Service's global operations are driven by its information systems technology. What UPS can do is largely a function of its information technology investments. Beginning as a local delivery service in 1907, UPS expanded on the West coast initially, reached New York in the 1930s, and went international in the 1970s.Today, UPS delivers over 14 million packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wireless connected to UPS main databases located in seventeen major data centers throughout through out the world. A multi-year, multibillion dollar investment in technology drove the growth of UPS over the last twenty five years beginning in 1990. This investment enabled the development of the DIAD, the Delivery Information Acquisition Device. DIAD is a key......

Words: 1013 - Pages: 5

Information Systems in Global Business Today

...Chapter 1 Information Systems in Global Business Today Case 1: UPS Global Operations with the DIAD IV Tags: UPS global operations; handheld computers; wireless mobile platform; digital firm; integration of business; customer value generation. Summary: How IT drives the UPS operation worldwide. Using smart people and smart technology, UPS delivers over 14 million packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wirelessly connected to UPS main databases located in seventeen major data centers throughout through out the world. L= 3:15. URL: http://careertv.com/video.php?mediaid=5Kb0tr9e-mNWk3iIvp3GZQ Case United Parcel Service's global operations are driven by its information systems technology. What UPS can do is largely a function of its information technology investments. Beginning as a local delivery service in 1907, UPS expanded on the West coast initially, reached New York in the 1930s, and went international in the 1970s.Today, UPS delivers over 14 million packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wireless connected to UPS main databases located in seventeen major data centers throughout through out the world. A multiyear, multi-billion dollar investment in technology drove the growth of UPS over the last twenty five years beginning in 1990. This investment enabled the development of the DIAD, the Delivery Information Acquisition Device. DIAD......

Words: 1015 - Pages: 5