Princes Janine Tupasi

38513

1. What is globalization?

Globalization making the world into more integrated global economic system

2. Differentiate Globalization of Market and Globalization of production.

Globalization of market is where you sell, then in Globalization of production is how you make the
product. In market, there is a merge between distinct and separate national markets into one huge global
marketplace. In production, it is where the sourcing of goods and services from locations around the globe
to take advantage of national differences in the cost and quality of factors of production.

3. What are the implications of technological change in the globalization of production?

• Make a geographically dispersed production

• Allow firms to better respond to customer demands

4. What is driving the move toward greater globalization?

Economic, Financial, Technological and Social factors have paved the way to greater globalization.

5. What is a multinational enterprise?

It is any business that has productive activities in two or more countries

6. Why is the changing world order important for firms?

Because it collapses communism in Eastern Europe, It makes a huge economic development in China,
and lastly It builds new markets and new sources of materials and production in Latin America

7. What will the global economy look like in the 21st century?

It is more integrated global economy wherein there is new opportunities for firms but political and
economic disruptions can throw plans into disarray.

8. Is the shift toward a more integrated and interdependent global economy a good thing?

Many experts believe that globalization is promoting greater prosperity in the global economy, more jobs,
and lower prices for goods and services.

9. What are the concerns of critics of globalization?

Anti-globalization protesters now turn up at almost every major meeting of a global institution.

10. What does the shift toward a global economy mean for managers within an international business?

Managers face a greater and more complex range of problems. International business must work within
the limits imposed by governmental intervention and the global trading system