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business
introduction global business

Questions and Answers of Introduction Global Business

3. Why do you think free trade areas established so far in Africa have not lived up to their expectations?
2. What are the likely gains from trade to be had from TFTA if it is fully implemented as a common market?
1. Why are African countries more likely to trade with Europe and America than they are with each other?
1. NAFTA produced significant net benefits for the Canadian, Mexican, and U.S. economies. Discuss.
12. The lowering of barriers to trade and investment among countries within a trade group will probably be followed by increased price competition.
11. The free movement of goods across borders, the harmonization of product standards, and the simplification of tax regimes make it possible for firms based in a free trade area to realize
10. The creation of single markets in the EU and North America means that many markets that were formerly protected from foreign competition are now more open. This creates major investment and
9. Although no other attempt at regional economic integration comes close to the EU in terms of potential economic and political significance, various other attempts are being made in the world. The
8. Increasingly, the European Commission is taking an activist stance with regard to competition policy, intervening to restrict mergers and acquisitions that it believes will reduce competition in
7. Seventeen EU members now use a common currency, the euro. The economic gains from a common currency come from reduced exchange costs, reduced risk associated with currency fluctuations, and
6. The Single European Act sought to create a true single market by abolishing administrative barriers to the free flow of trade and investment among EU countries.
5. Regional integration will not increase economic welfare if the trade creation effects in the free trade area are outweighed by the trade diversion effects.
4. Integration is not easily achieved or sustained. Although integration brings benefits to the majority, it is never without costs for the minority.Concerns over national sovereignty often slow or
3. Regional economic integration is an attempt to achieve economic gains from the free flow of trade and investment between neighboring countries.
2. In a free trade area, barriers to trade among member countries are removed, but each country determines its own external trade policy. In a customs union, internal barriers to trade are removed,
1. A number of levels of economic integration are possible in theory. In order of increasing integration, they include a free trade area, a customs union, a common market, an economic union, and full
5. Given the political and economic realities in India, what is the best entry strategy for a foreign retailer?
4. Why has India been so slow to change its laws regarding foreign ownership of retailers? What, if anything, can foreign retailers do to influence the laws in a way that benefits entry?
3. Who stands to lose from FDI into India’s retail sector? Who stands to gain?
2. How might investment by foreign retailers change retailing in India?What are the potential benefits of such FDI?
1. What explains the fragmented nature of India’s retail sector? What are the benefits of this system? What are the costs?
6. What would be the optimal outcome (in terms of economic welfare)of the ongoing trade dispute between the U.S. and the EU countries backing Airbus? How might such an agreement be enforced?
5. Under what circumstances, if any, should national governments subsidize the development of new technologies?
4. Who benefits from government subsidies to Boeing and Airbus? Who loses?
3. Boeing and Airbus have allegedly been receiving subsidies for decades. How might ongoing subsidies distort the market for large commercial jet aircraft?
2. Do you think that Boeing originally benefited from subsidies? If they did, could they be justified?
1. Are there any circumstances under which the subsidies that Airbus received in its early years might be justified?
10. Business may have more to gain from government efforts to open protected markets to imports and foreign direct investment than from government efforts to protect domestic industries from foreign
7. The World Trade Organization was to be created to implement the GATT agreement.
6. Barriers on trade in textiles were to be significantly reduced over 10 years.
5. GATT rules also were to be extended to provide enhanced protection for patents, copyrights, and trademarks (intellectual property).
4. GATT fair trade and market access rules were to be extended to cover a wide range of services.
3. Agricultural subsidies were to be substantially reduced.
2. Average tariff rates imposed by developed nations on manufactured goods were to be reduced to less than 4 percent of value, the lowest level in modern history.
1. Tariffs on industrial goods were to be reduced by more than one-third, and tariffs were to be scrapped on more than 40 percent of manufactured goods.
6. What is the opportunity cost to the United States of withdrawing from the TPP?
5. Is the CPTTP a threat to American economic interests?
4. Why do you think the 11 remaining signatories went ahead with a revised deal after the United States withdrew?
3. Why do you think that Donald Trump was so adamantly opposed to the TPP?
What would be the drawbacks to other nations?
2. What were the potential drawbacks of the U.S. entering the TPP?
1. What were the proposed benefits of the TPP?
4. What are the potential costs of adopting a free trade regime? Do you think governments should do anything to reduce these costs? Why?
2. Is free trade fair? Discuss.
13. Firms involved in international trade can and do exert a strong influence on government policy toward trade. By lobbying government, business firms can promote free trade or trade restrictions.
12. Theories of international trade are important to an individual business firm primarily because they can help the firm decide where to locate its various production activities.
11. Porter’s theory of national competitive advantage suggests that the pattern of trade is influenced by four attributes of a nation: (a) factor endowments, (b) domestic demand conditions, (c)
10. Some new trade theorists have promoted the idea of strategic trade policy. The argument is that government, by the sophisticated and judicious use of subsidies, might be able to increase the
9. New trade theory also states that in those industries where substantial economies of scale imply that the world market will profitably support only a few firms, countries may predominate in the
8. New trade theory states that trade allows a nation to specialize in the production of certain goods, attaining scale economies and lowering the costs of producing those goods, while buying goods
7. The product life-cycle theory suggests that trade patterns are influenced by where a new product is introduced. In an increasingly integrated global economy, the product life-cycle theory seems to
6. The Heckscher–Ohlin theory argues that the pattern of international trade is determined by differences in factor endowments. It predicts that countries will export those goods that make
5. The theory of comparative advantage also suggests that opening a country to free trade stimulates economic growth, which creates dynamic gains from trade. The empirical evidence seems to be
4. The theory of comparative advantage suggests that unrestricted free trade brings about increased world production—that is, that trade is a positive-sum game.
3. The theory of comparative advantage suggests that it makes sense for a country to specialize in producing those goods that it can produce most efficiently, while buying goods that it can produce
2. The theory of absolute advantage suggests that countries differ in their ability to produce goods efficiently. The theory suggests that a country should specialize in producing goods in areas
1. Mercantilists argued that it was in a country’s best interests to run a balance-of-trade surplus. They viewed trade as a zero-sum game, in which one country’s gains cause losses for other
7. We have assumed away the effects of trade on income distribution within a country.
6. We have assumed that each country has a fixed stock of resources and that free trade does not change the efficiency with which a country uses its resources. This static assumption makes no
4. Woolworths’ targets are to achieve a top quartile ranking in how the business engages fairly and equitably with its suppliers. How do supplier relationships and the fairness in dealing with
3. Woolworths Group is trying to reduce its carbon emissions or footprint by 10 percent. Based on where we are as a world, is 10 percent enough of a reduction? Perhaps global warming is not real,
2. The focus on People is about encouraging diversity. The idea is to increase the number of Indigenous employees in line with the company’s stated commitments under the Australian Federal
1. What challenges do you think a company like Woolworths Group is facing when developing and implementing a companywide corporate social responsibility strategy that takes into account the more than
2. Drawing on John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection and (b) influence
5. Unethical behavior is rooted in personal ethics, societal culture, psychological and geographic distances of a foreign subsidiary from the home office, a failure to incorporate ethical issues into
2. Ethical issues and dilemmas in international business are rooted in the variations among political systems, law, economic development, and culture from country to country.
4. According to the company, “ Swatch is an attitude, an approach to life, a way of seeing. The sight of a Swatch excites emotion. Wearing
3. Swatch wants you to create your own unique way of accessorizing by the use of a Swatch watch. A person can showcase his or her individualized Swatch use by tagging #MySwatch. Is a watch a way to
2. Many of the Swatch brands have become cultural icons among a strong core following of customers in the global marketplace. Some even talk about the “Swatch Revolution” that began when Nicolas
1. With the Hayek family controlling nearly 40 percent of The Swatch Group, how do you think the family influence impacts the type of corporate culture in the company? What about the company’s
5. Reread the Management Focus “China and Its Guanxi” and answer the follow questions:a. Why do you think it is so important to cultivate guanxi and guanxiwang in China?b. What does the
4. Reread the Country Focus “Turkey, Its Religion, and Politics.” Then answer the following questions:a. Can you see anything in the values and norms of Islam that is hostile to business?
12. One danger confronting a company that goes abroad is being illinformed. To develop cross-cultural literacy, companies operating globally should consider employing host-country nationals, build a
11. Culture is not a constant; it evolves. Economic progress and globalization are two important engines of cultural change.
10. Geert Hofstede studied how culture relates to values in the workplace.He isolated five dimensions that summarized different cultures: power distance, uncertainty avoidance, individualism versus
8. Language is one defining characteristic of a culture. It has both spoken and unspoken dimensions. In countries with more than one spoken language, we tend to find more than one culture.9. Formal
7. Religion may be defined as a system of shared beliefs and rituals that is concerned with the realm of the sacred. Ethical systems refer to a set of moral principles, or values, that are used to
6. Virtually all societies are stratified into different classes. Classconscious societies are characterized by low social mobility and a high degree of stratification. Less class-conscious societies
3. Values and norms are influenced by political forces, economic philosophy, social structure, religion, language, and education. And, the value systems and norms of a country can affect the costs of
1. Culture is a complex phenomenon that includes knowledge, beliefs, art, morals, law, customs, and other capabilities acquired by people as members of society.
3. Bangladesh is dependent for its prosperity upon agriculture and textile exports. What are the risks here? How might Bangladesh diversify its industrial and commercial base?
2. Explain how the liberalization program in the 1990s enabled Bangladesh to start climbing the ladder of economic progress.
1. What were the principal reasons for the economic stagnation of Bangladesh after its war for independence?
3. Reread the Country Focus “India’s Economic Transformation,” and answer the following questions:a. What kind of economic system did India operate under during 1947–1990? What kind of system
3. What steps need to be taken now to improve the economic outlook for Zimbabwe?
2. Do you think that Zimbabwe’s economic performance would have been better under a different system of government? Which one?
1. Why has Zimbabwe’s economic performance been so poor?
4. The MINI is a unique car offering in the BMW portfolio. It has longstanding attention to clever solutions with distinctive designs that unlock urban driving and cater to customers’ individual
3. The Rolls-Royce chase of perfection drives the supreme quality, exquisite hand craftsmanship, and attention to the finest detail to maintain its global position as the pinnacle luxury automobile
2. What is your reaction to the global brand of BMW when you hear the name, think of the brand, and see the BMW vehicles on the road?
1. How do you think BMW integrates its various unique brands into a global effort that works for them (BMW, Rolls-Royce, and the MINI)across the world’s many global markets?
7. Reread the Management Focus “Boeing’s Global Production System” and answer the following questions:a. What are the benefits to Boeing of outsourcing manufacturing of components of the Boeing
1. Describe the shifts in the world economy over the past 30 years. What are the implications of these shifts for international businesses based in the United Kingdom? North America? Hong Kong?
Which Is More Important—Similarities or Differences?
What Is Globalization?
Will the United States Produce Just Services?
1.3. Spending significant time (e.g., three years) on an expatriate assignment has significant family and professional implications, as can be seen in the Shell survey that was mentioned in the case.
1.2. Shell’s long-term goal is to develop local talent wherever possible, thereby leveraging local employees’networks, market knowledge, and language skills, while also minimizing costs. Moving
1.1. Royal Dutch Shell is one of the largest companies in the world and has been for years. With sales approaching $400 billion and 82,000 employees worldwide, including some 7,000 employees on
1.1. You work in the human resource department at the headquarters of a multinational corporation. Your company is about to send a number of managers overseas as expatriates to France and New

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