Globalization
CAGE!
CAGE! There's Always More :)
Strategy!
Site Visits!
100
Globalization refers to a __________ and __________ of interactions between countries
broadening; deepening
100
What does CAGE stand for? and What is the additional "C" we added for this class?
Culture; Administrative; Geographic; Economic; COVID/Disruptions
100
Which element of CAGE is the most difficult to measure and why?
Culture
100
List and define the two basic strategic positions a firm can take
•Cost Leadership: WalMart, McDonalds, Shein
•Differentiation : Nike, Apple, Tiffany
100
This is the parallel that divides North and South Korea
38th Parallel
200
Give an example of a company you have seen while here that demonstrates the "globalization of markets" AND explain what the globalization of markets" means
Starbucks; Coke; Apple; etc
200
Explain why we use the CAGE Framework for IB?
Distances
200
List at least 5 ways to measure Economic Distance and explain why just one measure wouldn't be enough
GNI, GDP (per capita, gross, growth etc.)
HDI
Education Rates
Migration rates
FDI and trade flows
Export/import ratio
Tariffs
Inflation rates
Starbucks or big Mac index
200
Define strategic positioning
•Strategic positioning
•Choose activities that are different from rivals
•Strategy allows for the creation of unique and valuable position, involving a different set of activities
200
What is the national holiday today here in Seoul? What does it celebrate
National Liberation Day; victory day over Japan
300
International Business is defined as activities that involve the transfer of _______, ________; _____; _______; _________
Resources ; goods ; services; skills; information
300
List and define the three types of legal systems.
1.Common law: based on tradition (legal history), precedent (outcomes of previous cases), and custom (ways laws are applied in particular situations)
÷Found in most former British colonies (including US)
2.Civil law: very detailed and codified set of laws
÷Found in over 80 countries (e.g., Germany, France, Japan, Brazil, & Russia)
3.Theocratic law: based on religious teachings
÷Islamic law is the most widely practiced
300
Roughly how many miles/kilometers are there between Boston (home) and Seoul (host)?
6801 miles / 10945.15 km
300
Name the two frameworks we learned in class to measure the external environment?
PESTEL and CAGE
300
Why is the dish bibimbap named bibimbap?
bibim meaning "mixed" and bap meaning "rice."
400
Define globalization of production (need to be specific) and provide an example.
The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (labor, energy, land, and capital)
400
This is the most common form of political system that exists in practice today(must be specific)
Representative democracy (must be specific)
400
List 4 indicators of geographic distance (must be distinct)
¡Physical distance between home and host
¡Different distribution channels
¡Climate differences
¡Infrastructural differences
¡Ways to get around in the city/area
¡How well connected is the host country?
400
Name and define the framework firms can use to evaluate their resource endowments
To be the basis of a competitive advantage, a resource must be:
•Valuable.
•Rare.
•Costly to Imitate.
•Organized to capture the value of the resource.
400
Gyeongbok Palace is the largest of the Five Grand Palaces built by which dynastic family?
Joseon Dynasty
500
Explain the "10% surprise"
500
Explain the Opacity Index?
Determines the risk premium/discount that US-based investors demand due to government opacity or lack of transparency
Uses the following criteria to create “opacity index”
¡Government corruption
¡Laws on contracts or property rights
¡Economic policies
¡Accounting Standards
¡Business regulations
Demonstrate interest-rate premium for increased opacity (using the United States as the base)
500
Define and give an example of both a folkway and a more
§Norms are the social rules that govern the actions of people toward one another and can be further subdivided into
üFolkways: the routine conventions of everyday life
§Kiss, bow, or shake hands?
üMores: norms that are seen as central to the functioning of a society and to its social life
§Drinking alcohol? Theft? Cannibalism?
500
Name the four different levels or types of strategy that businesses must consider
•Corporate Strategy
•Where to compete?
•Industry, markets, and geography.
•Business Strategy
•How to compete?
•Cost leadership, differentiation, or value innovation.
•Functional Strategy
•How to implement a chosen business strategy?
•Different strategies require different activities.
•Nonmarket Strategy
•How to manage social and political aspects?
500
During our "navigating Seoul" excursion during the first week, where were we asked to take pictures like celebrities?
Dongdaemun Design Plaza