REVIEW QUESTIONS FOR
GLOBALIZATION, NATIONAL DIFFERENCES IN POLITICAL ECONOMY, and DIFFERENCES IN CULTURE
1. Describe globalization according to wikipedia? (http://en.wikipedia.org/wiki/Globalization) Globalization is the process of international integration arising from the interchange of world views, products, ideas, and other aspects ofculture. In particular, advances in transportation and telecommunications infrastructure, including the rise of the Internet, are major factors in globalization and precipitate further interdependence of economic and cultural activities.
2. What is the role of Technological Changes?
Technological change (TC) is a term that is used to describe the overall process of invention, innovation and diffusion of technology orprocesses. The term is synonymous with technological development, technological achievement, and technological progress. In essence TC is the invention of a technology (or a process), the continuous process of improving a technology (in which it often becomes cheaper) and its diffusion throughout industry or society. In short, technological change is based on both better and more technology. 3. What would happen if the U.S. government required that flat panel displays sold in the United States had to also be made in the United States? In balance, would this be a good or a bad thing? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 4. What does the GE example tell you about the nature of true global business? GE has found that local nationals are invaluable when trying to sell to local companies and governments, where a deep understanding of local language and culture is often critical. The government is a large customer, and working closely with government bureaucrats requires a cultural sensitivity that is difficult for outsiders to gain. In addition to the internationalization of their management ranks, GE’s American managers are increasingly traveling overseas for management training and company events. 5. A decade ago the idea that medical procedures might move offshore was unthinkable. Today it is a reality. What trends have facilitated this process? Is the globalization of health care good or bad for the American economy? Falling trade barriers, the global trading system, global population growth, the global labor force and expanding international trade. The globalization of health care good for the American economy because the benefits outweight the costs. 6. Is the globalization of health care good or bad for patients? Who might benefit from the globalization of health care? Who might lose? The globalization of health care is good for patients because the operating cost have been reduced ant the savings are passed along to the patients. 7. How does the Internet and the associated World Wide Web affect international business activity and the globalization of the world economy? 8. Read the Country Focus “Vizio and the Market for Flat Panel TVs,” then answer the following questions: a) Why is the manufacturing of flat panel TVs migrating to different locations around the world? Flat panel displays migrates its way around the globe to lower the cost. b) Who benefits from the globalization of the flat panel display industry? Who are the losers? U.S consumers have benefited from the falling prices; the losers are the manufactures and employees of said businesses because to lower cost jobs are spread globally versus everything in one central location c) What would happen if the U.S. government required that flat panel displays sold in the United States had to also be made in...
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