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1. Which of the following best describes the concept of globalization in
the context of the global business environment?
A. The process of international integration arising from the interchange of
world views, products, ideas, and other aspects of cultures
B. The process of focusing solely on domestic markets and ignoring
international opportunities
C. The process of limiting expansion to neighboring countries only
D. The process of avoiding international trade altogether
Answer: A. The process of international integration arising from the
interchange of world views, products, ideas, and other aspects of cultures.
Rationale: Globalization refers to the increased interconnectedness and
interdependence of countries and businesses worldwide.
2. Which of the following is a key factor that drives businesses to expand
into international markets?
A. Lower labor costs in foreign countries
B. Political instability
C. Limited market opportunities in domestic markets
D. Currency exchange rate fluctuations
Answer: A. Lower labor costs in foreign countries. Rationale: Lower labor
costs in foreign countries can offer businesses a competitive advantage
and encourage expansion into international markets.
3. How can a global supply chain benefit an organization?
A. By increasing production costs
B. By reducing operational efficiency
C. By improving product quality
D. By limiting market reach
Answer: C. By improving product quality. Rationale: A global supply
chain can provide access to high-quality materials and processes that can
enhance the quality of the final product.
4. Which of the following is a challenge that organizations may face when
operating in international markets?Â
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