Question 1

International NGOs were important in the antislavery movement and the movement for women's suffrage..

Accepted Answer

International NGOs played a significant role in both the antislavery movement and the movement for women's suffrage by raising awareness, mobilizing public opinion, and influencing policy changes across different countries.

Question 2

The first stage of global development, what Friedman calls "Globalization 1.0," was characterized by how much industrial power countries could produce and apply.

Accepted Answer

Globalization 1.0, according to Thomas Friedman, spanned from 1492 to around 1800 and was characterized by countries globalizing for resources and imperial conquest, with a focus on how much muscle, horse-power, wind power, and steam power a country had, which directly relates to their industrial power and capacity to produce and apply it.

Question 3

Many people consider globalization a modern phenomenon, but according to Friedman, this is its third stage.

Accepted Answer

Thomas L. Friedman, in his book "The World is Flat," describes globalization in three stages: Globalization 1.0 (1492-1800), which was driven by countries; Globalization 2.0 (1800-2000), driven by companies; and Globalization 3.0 (2000-present), driven by individuals and small groups.

Question 4

The second stage of global development began with advances in global electronic interconnectivity that allowed individuals to communicate as never before.

Accepted Answer

The answer of The second stage of global development began...

Question 5

Global business professionals conduct stakeholder analysis in order to understand how operations in different countries impact the overall corporate strategy.

Accepted Answer

Stakeholder analysis helps global business professionals understand the needs, interests, and potential impacts of different stakeholders in various countries, which is crucial for aligning operations with the overall corporate strategy and ensuring sustainable success.

Question 6

A stakeholder refers to a person within an established business who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation.

Accepted Answer

A stakeholder is any individual or group who has an interest in or is affected by the activities and outcomes of a business or project, not necessarily someone who takes direct responsibility for product development or innovation.

Question 7

Globalization is fueled largely by declining trade and investment barriers and new technologies, such as the Internet.

Accepted Answer

Globalization is driven by the reduction of trade and investment barriers, allowing for more fluid international commerce, and the advent of new technologies like the Internet, which facilitates global communication and business operations.

Question 8

The knowledge of both strategic management and entrepreneurship enhances one's understanding of international business.

Accepted Answer

Strategic management provides insights into how businesses can achieve competitive advantage and long-term success, while entrepreneurship offers perspectives on innovation, opportunity recognition, and new venture creation. Together, they enrich the understanding of how businesses can effectively operate and compete in the global marketplace.

Question 9

Foreign direct investment means that a firm is investing assets directly into a foreign country's buildings, equipment, or organizations.

Accepted Answer

Foreign direct investment (FDI) involves a company from one country making a physical investment into building a factory or another business operation in another country. It includes investments in buildings, machinery, and equipment.

Question 10

International business would not be relevant to an organization if it only produced and sold its products in one country.

Accepted Answer

Even if an organization only produces and sells its products in one country, international business can still be relevant due to factors like global competition, supply chain sourcing, and potential for future market expansion.

Question 11

The social or environmental performance of an organization is irrelevant as long as it is earning profits.

Accepted Answer

The social and environmental performance of an organization is increasingly recognized as crucial, affecting its reputation, customer loyalty, and long-term sustainability, alongside its financial performance.

Question 12

Stakeholder analysis refers to the recognition of opportunities and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.

Accepted Answer

Stakeholder analysis is the process of identifying and assessing the influence and interests of people, groups, or organizations that may affect or be affected by a project or decision.

Question 13

The greater the level of standardization in operations, both within and across markets, the greater is the possibility of global efficiency.

Accepted Answer

Standardization in operations allows for uniform processes and practices, leading to economies of scale, reduced costs, and improved efficiency on a global scale.

Question 14

Globalization can be defined only in terms of markets but not in terms of production.

Accepted Answer

Globalization encompasses not only the integration of markets but also the global distribution and organization of production processes.

Question 15

Strategic management is mainly concerned with the determinants of a firm's performance.

Accepted Answer

Strategic management focuses on formulating and implementing strategies that enhance a firm's competitive position and performance in its industry.

Question 16

International transfers of resources, such as people, intellectual property, and contractual assets or liabilities, do not form a part of international business.

Accepted Answer

International transfers of resources, including people, intellectual property, and contractual assets or liabilities, are integral components of international business, as they involve the cross-border exchange of goods, services, and resources.

Question 17

International business relates to any situation where the production or distribution of goods or services crosses country borders.

Accepted Answer

International business encompasses all commercial activities that involve the exchange of goods, services, resources, people, ideas, and technologies across national boundaries.

Question 18

Google and other technology companies are able to do business globally because the laws governing the Internet are the same everywhere.

Accepted Answer

The laws governing the Internet vary significantly from one country to another, affecting how companies like Google can operate globally.

Question 19

The flat-world view is largely credited to Milton Friedman.

Accepted Answer

The flat-world view is largely credited to Thomas L. Friedman, not Milton Friedman. Thomas L. Friedman popularized the concept in his book "The World is Flat."

Question 20

The government of any country is generally not considered to be a stakeholder in any business venture.

Accepted Answer

Governments are considered stakeholders in business ventures as they can be affected by and have an interest in the economic, legal, and societal outcomes of these ventures. They may regulate industries, collect taxes, and ensure businesses comply with laws.

Quiz 1: Introduction