Globalizing businesses

16 important questions on Globalizing businesses

What is the transnationality index?

It measures the share of activities outside the home country.

Where is IB fundamentally about?

Not limiting yourself to your home country and abut treating the entire global economy as your potential playground

What does globalization for young people mean?

It is often first and foremost the internet and the information and communication technology that comes with it.
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What does second view associates globalization primarily with>

With rising power of MNEs and growing inequality around the world

Third unskilled workers appear to lose out, at least in relative terms what is the fourth?

Fouth, some interpret globalization as a force that makes us all more similar and that eliminates the distinctiveness of our national cultures and identities

What are the trends of globalization?

1) globalization is around for more that 5 milenials
2) globalization accelerated in the 19th century following major innovations in manufactoring communicaiton and transport as well as legal changes
3) the introduction of limited liablity company permitted new forms of ownership and thus larger the benefits of their innovations
4) waves of globalization -> the pattern of globalization arising form a combination of long-term trend any pendalum swings

What accelerated the triad globalization?

Dramatically in the 1990

What were major contributors to the acceleration?

Emerging economies that joined the global stage, bringing billions of people with much lower incomes into the fold

Globalization is unable to keep going in one direction what are some functions?

Some functions in emerging economies complained against the onslaught of MNE's which allegedly not only destroy local companies but also local cultures and values as well as the environment

What did the recession remind all firms and managers?

Of the importance of risk management

What do we want to hear with a glance at the global economy?

1) the global economy is driven by the competitive interplay between nations and firms
2) a group of particularly powerful players in the global economy are bunks and other financial intermediaries

What do we mean with implications for practice?

The field of IB is full of debates
it is important to approach these debates with an open mindset to recognize international connectin and analyze their interactions

What do we mean with ethnocentric perspective?

When one views the world through the lens of one's own culture and believes in the superiority of that culture

What is a non-invented-here syndrome?

A tendency to distract new ideas coming from outside of one's own organization or community

Successful managers operate within the spectrum between universalist and exceptionalist what do we mean with this?

They know that some practices are effective in a wide range of different countries, but that they may need fine-tuning to accommodate local idiosyncrasies

In the complex interaction of global and local forces may business leaders are well at ease with globalization and its opportunities what do you know more about this?

As compositions, they embrace the cultural diversity and the personal and professional opportunities that globalization brings

The question on the page originate from the summary of the following study material:

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