Impact of the Global Environment on Business

What is globalization?

• rapid

  and unimpeded flow of capital, labor, and ideas across national borders.

• the process of cultural homogenization without any exchange.

• the decline of international trade.

• The isolation of countries from each other.

Globalization has changed more than just business—it has changed _____________. It has changed the way we think, the way we communicate, the way we travel, and the way we live.

• economy
• technology
• environment
• everything

The Introduction of New Technologies:

What technology allows us to connect and communicate with people and businesses across the globe quickly?

• database
• telephone

• internet
• network

The Introduction of New Technologies:

Wireless and ________ connections allows you to check your email, browse through Instagram, get live updates of college football scores, and laugh at the latest YouTube videos—all of this in the palm of your hand, anywhere you choose to go.

• satellite
• fiber optic
• remote

• Bluetooth

Faster and More Accessible Modes of Transportation:

Faster ships, better trucks, and stronger ____________(basic roads, services, utilities, etc.) have also contributed to more efficient transportation of goods throughout the world.

• basic roads
• services
• vehicles
• infrastructures

Faster and More Accessible Modes of Transportation:

The ability to ______ more freely contributes to the spread of culture and ideas throughout the world, and it also makes it easier to conduct business on an international level.

• fly
• drive
• travel
• wander

Lessened Political Barriers Between Countries:

Decades ago, many nations were sealed off from the rest of the world due to _____________, which prevented the free flow of trade between these regions and the rest of the world. After it ended, the lines of communication and financial exchange became open.

• communism

• colonialism
• globalization
• protectionism

Is this an advantage or disadvantage of globalization and business:

Small business now has the ability to sell its products all over the world.

• Disadvantage

• Advantage

Globalization has brought advantages to ___________ as well as businesses. We now have a bigger and better variety of choices for the products we buy than at any other time in history.

• consumers
• investors
• retailers
• manufacturers

Is this an advantage or disadvantage of globalization and business:

Brain Drain - losing talented, educated employees to jobs in other countries because they leave their home nations because of war or political reasons.

• Advantage

• Disadvantage