ULUSLARARASI İŞLETME

Globalization refers to the shift toward a more integrated and interdependent world economy.

A free trade agreement (FTA) a pact between a group of countries that have reduced trade barriers/tariffs to exports and imports among them to increase the trade of goods and services.

Outsourcing is the subcontracting or contracting out of activities to endogenous organizations that had previously been performed by the firm.

Reshoring is the process of bringing production back to the developed nations.

Internationalization is described as the process by which a firm gradually changes in response to the imperatives of international competition, domestic market saturation, desire for expansion, new markets, and diversification.

A Multinational Enterprise (MNE) is any business that has productive activities in two or more countries.

An MNC (Multinational Corporation) is a firm that has operations and international sales in more than one country and a mix of nationalities among managers and owners.

A Born-global firm is a company that adopts a global perspective and engages in international business from or near its inception.

Individualism is the political philosophy that people should be free to pursue economic and political endeavors without constraint.

Collectivism as an ideology views the whole society as more important than its parts.

Today globalization refers to the shift toward a more integrated and interdependent world economy (Hill and Hult, 2019: 6). From a broader perspective, globalization can also be defined as the process of social, political, economic, cultural, and technological integration among countries around the world (Luthans and Doh, 2018: 5). It is characterized by denationalization, and it is different from internationalization (Wild and Wild, 2016: 35). However, International Business refers to the exchange of goods and services across the border between two or more nations. Thus, E is the correct answer.

A free trade agreement (FTA)is a pact between a group of countries that have reduced trade barriers/tariffs to imports and exports among them to increase the trade of goods and services. Thus, the correct answer is C.

Some of the advantages of globalization are as follows:

They argue that globalization has the potential to make this world a better place to live in and to solve some of the long- lasting structural problems such as unemployment and poverty.

As being an important driver of globalization, free trade is supposed to reduce barriers between nations such as tariffs, value- added taxes, and subsidies.

Competitionbetweencountriesis supposed to drive prices down.

It allows more influx of information between any two countries that do not have anything in common. It enables cultural intermingling, and countries involved in this learn more about other cultures.

Yet, the riches' becoming richer while the non-riches' becoming poorer is a downside of globalization. Therefore, A is the correct answer.

Offshoring is the process by which companies undertake some activities at offshore locations instead of in their countries of origin.

Outsourcing is the subcontracting or contracting out of activities to endogenous organizations that had previously been performed by the firm.

Reshoring is the process of bringing production back to the developed nations.

Internationalization is “the process by which a firm gradually changes in response to the imperatives of international competition, domestic market saturation, desire for expansion, new markets, and diversification.

Totalitarianism is a political system in which only one representative party is/or forcefully gets authorized to control over every facet of political and social life.

Thus, B is the correct answer.

According to he CAGE framework at the industry level, geography plays a more important role when:

Products have a low value-weight or value-to-bulk ratio.

Products are fragile or perishable.

Local supervision and operational requirements are high.

Hence, D is the right answer.

Managing an international business is different from conducting business activities domestically at least for four reasons. First of all, international business encompasses different countries. Secondly, managers of international businesses face more comprehensive and sophisticated challenges than their domestic counterparts. Thirdly, government intervention is inevitable in international transactions. Lastly, international business requires companies to work with different currencies (Hill and Hult, 2019: 32). Thus, B is the correct answer.

A Multinational Enterprise (MNE) is any business that has productive activities in two or more countries.

An MNC (Multinational Corporation) is a firm that has operations and international sales in more than one country and a mix of nationalities among managers and owners.

Global corporations view the world as one marketplace and produce standardized goods and services to serve this market.

Transnational corporations integrate a geographically dispersed set of specialized activities into a single production process.

A Born-global firm is a company that adopts a global perspective and engages in international business from or near its inception.

Hence, D is the correct answer.

Democracy is a political system in which the government is controlled by the citizens either directly or through elections.

Totalitarianism is a political system in which there is only one representative party which exhibits control over every facet of political and social life.

Collectivism as an ideology views the whole society as more important than its parts.

Individualism is the political philosophy that people should be free to pursue economic and political endeavors without constraint.

Therefore, the right answer is C.

The main aim of the WTO is to promote secure and safe trade across the globe and protect the best interest of producers and consumers. Its primary responsibility is to police the world trade system and to make nation-states adhere to the rules laid down in treaties signed by member states. As of 2017, it has 164 members conducting 98% of the world trade, thereby providing enormous influential power for developing a more open global business system (Hill and Hult, 2019: 10). Thus, E is the correct answer.

The four dimensions identified in the study were power distance, uncertainty avoidance, individualism, and masculinity. Hofstede further added to the framework the time orientation dimension in 1988 and the indulgence versus restraint dimension in 2010. Hence, A is the correct answer.