key Terms 5.1
chapter 5 review
key Terms 5.2
100

what is globalization 

 is the connection made among nations when economy freely move goods labor and money

100

List three ways a business can enter a global market

Licensing, franchising, and joint ventures are three ways a business can enter a global market

100

what is a Multinational corporation

Multinational corporation is A business that operates in more than one country.

200

what is doemstic business 

 is all the activity involved in making,buying, and selling product within a nation's border

200

List some of the benefits that a diverse workforce can provide to a business

 A diverse workforce can help an organization be more creative, be receptive to customer needs, find new ways of thinking and looking at business, and create unique products and services

200

what is English As a Second languge (ESL)

English second language (ESL) is The use of English by people people with a different native language.

300

when does Absolute advantage exist 

it exist when a country can produce goods more efficiently and at a lower cost than another country 

300

How does licensing benefit both the licensor and licensee?

The licensor earns revenue, often for little or no extra work. The licensee gets product to the market quickly.

300

what is diversity 

Diversity is having people with different backgrounds,and cultures come together in a group

400

what is Foreign exchange rate 

Foreign exchange rate is the cost to convert one currency into another

400

Identify five common considerations involved in taking business to another country

Five common considerations are labor laws in force, legal documents required, logistics of offshore business operations, incorporating a diverse workforce, and effective intercultural communications.

400

what the diffrence between a franchisee and franchisor 

a franchisor is the parent company that owns the chain and the brand while a Franchisee is the person or company that buys the rights to use the brand 

500

what is Floating currency

 floating currency is the exchange rate is set by the market forces

500

Why is moving products internationally much more complex than domestic transport?

When distances increase, it is more likely that many different forms of transportation will be needed.

500

what is a joint venture

a Join venture is a partnership of two or more companies that work together for a specific business purpose 

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