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(D) stand for? and What is the additional "D" we added for this class?
Culture; Administrative; Geographic; Economic; 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
We all saw a lovely parade for Buddha's Birthday. What day is Buddha's birthday? (Not the day of the parade)
Saturday May 27th
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 of a company you have seen here in South Korea
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 explain the framework firms can use to evaluate their core competencies
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
Define the two more nuanced types of capitalism (varieties) we discussed in class. And explain (briefly) why they matter for firms through the discussion of wages.
• Liberalized market economies
• Examples: US, Canada, Great Britain, Ireland, Australia
• Coordination occurs primarily through market mechanisms
• E.g., wages set by market forces
• Coordinated market economies
• Examples: Germany, Japan, Northern Europe
• Formal institutions play central role in coordinating relationships
• E.g., wages set by industry-level collective bargaining between employers' associations and trade unions
500
List and define the five primary Hofstede dimensions.
• Power Distance
• The extent to which the less powerful members of organizations and institutions (like the family) accept and expect that power is
distributed unequally
• High = accept power, Low = do not
• Individualism/Collectivism
• The degree to which individuals are integrated into groups
• High = more individualistic, low= more collectivist
• Masculinity/Femininity
• The Masculinity side of this dimension represents a preference in society for achievement, heroism, assertiveness, and material rewards
for success. Society at large is more competitive. Its opposite, Femininity, stands for a preference for cooperation, modesty, caring for the
weak and quality of life. Society at large is more consensus- oriented
• High = masculine, low= feminine
• Uncertainty Avoidance
• A society's tolerance for uncertainty and ambiguity
• Rigid following of the rules/codes vs. ability for fluidity and movement
• High = Rigid, low = fluidity
• Long-term Orientation
• The fostering of virtues oriented towards future rewards, in particular, perseverance and thrift
• Low = emphasis on rights and the now; high= future
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 tour of the National Museum of Korea the guide showed us a 10 story Pagoda that was smuggled out of Korea in 1907. Which country was it smuggled to?
Japan