N7 Bus Mgt Globalisation

What is the primary process described by globalization?

• Countries becoming more interconnected

• Countries closing their borders

• Countries becoming more isolated

• Countries reducing trade

Which of the following is NOT a result of globalization?

• Free movement of labor

• Reduction in international trade

• Adaptation of marketing mix

• Increased use of e-commerce

Which country is mentioned as an example of globalization?

• Brazil

• Japan

• India

• China

What is one of the main impacts of globalization on businesses?

• Decreased use of technology

• Increased use of e-commerce

• Reduced international sales

• Less need for marketing

How does globalization affect the marketing mix of businesses?

• Only the price needs to be adapted

• The product may need to be adapted for cultural differences

• Only the promotion strategy needs to be changed

• No changes are needed

What is one advantage of globalization for businesses?

• Smaller target markets

• Access to cheaper raw materials

• Higher production costs

• Less competition

Why might businesses have higher profit margins due to globalization?

• Smaller target markets

• Less competition

• Access to cheaper raw materials

• Higher production costs

What is another benefit of globalization for businesses?

• Increased production costs

• Higher wage rates

• Access to cheaper labor

• Access to more expensive labor

What is a potential disadvantage of globalization for businesses?

• Stable exchange rates

• Increased competition from abroad

• Lower production costs

• Decreased competition

How can exchange rates impact businesses in a globalized market?

• They can make businesses less price competitive

• They make businesses more price competitive

• They always increase sales

• They have no impact