Expatriate
MGC 2120 Tutorial 1 Questions
Tute 1 (Week 2)
What is globalization? Why is it important to study globalization in international business?
Globalization has many parts to it, it is known as the international flow of ideas and knowledge, a higher level global-civil activity, sharing between cultures, and the movement to better the global environment. The term itself describes mobility of capital, labor, technology, and goods and services throughout the world.
In international business, it is crucial to study globalization to understand policies different countries have against in import and export of mobility of different resources. It is also important to understand which countries have open boarders to freer trade, and which don't.
How do you define international business? What are the major differences between international business and domestic business?
International business occurs when there are transactions between two parties. It is basically a cross-boarder exchange of goods and services, capital, and technology. It is about trade and investment between two countries.
The major differences between international and domestic business is firstly the number of firms involved. Between countries, there are a larger number and range of problems versus in one country where the regulations of trade are the same. Investment overseas is also affected by currencies.
What are the challenges and opportunities international businesses are facing these days?
International businesses are facing challenges of having to protect their brands. They have to be vigilant and protect their brand name not only internationally, but domestically too. They may do this by getting an intellectual property right. They also have to maintain high ethical standards and this will in turn possibly help them gain more customer share. They have to make sure they are secure, this is in regards to technology, and thus should acquire relevant safety and security measures.
Tute 1 (Week 2)
What is globalization? Why is it important to study globalization in international business?
Globalization has many parts to it, it is known as the international flow of ideas and knowledge, a higher level global-civil activity, sharing between cultures, and the movement to better the global environment. The term itself describes mobility of capital, labor, technology, and goods and services throughout the world.
In international business, it is crucial to study globalization to understand policies different countries have against in import and export of mobility of different resources. It is also important to understand which countries have open boarders to freer trade, and which don't.
How do you define international business? What are the major differences between international business and domestic business?
International business occurs when there are transactions between two parties. It is basically a cross-boarder exchange of goods and services, capital, and technology. It is about trade and investment between two countries.
The major differences between international and domestic business is firstly the number of firms involved. Between countries, there are a larger number and range of problems versus in one country where the regulations of trade are the same. Investment overseas is also affected by currencies.
What are the challenges and opportunities international businesses are facing these days?
International businesses are facing challenges of having to protect their brands. They have to be vigilant and protect their brand name not only internationally, but domestically too. They may do this by getting an intellectual property right. They also have to maintain high ethical standards and this will in turn possibly help them gain more customer share. They have to make sure they are secure, this is in regards to technology, and thus should acquire relevant safety and security measures.