Garcia, Thea Beatrice DS.

BSA-2A - CEU Manila

Module 1 - Lesson 1 - Assignment 1.1

Based on the video, answer the following questions. Construct a paragraph with 5-10
sentences to answer the questions given:
1. What is the definition of Globalization and International Business?
- Globalization, comes from the word "Globe" it means worldwide coming together
of countries and nations. It makes different countries interconnected. In terms of
technology, trade, investment and finance. It drives communication and
technology, reduces cost of transportation and greatly increases the volume of
world trade. While, International trade, economic transactions that are made
between countries. Among the items commonly traded are consumer goods,
such as television sets and clothing; capital goods, such as machinery; and raw
materials and food. It is foundation to the business world as countries try to make
profit from an expand market. It allows underdeveloped countries to utilize their
resources to its fullest potential by means of exporting it to other developed
countries.
2. What is the relationship between Globalization and International Business?
- Globalization refers to the changes in the world where we are moving away from
self-contained countries and toward a more integrated world. Globalization of
business is the change in a business from a company associated with a single
country to one that operates in multiple countries. Products and services
previously available within one country are made available to new markets
outside the country due to globalization. In addition, countries with positive
relations between them are able to increasingly unify their economies through
increased investment and trade.Market globalization is the decline in barriers to
selling in countries other than the home country. This change will make it easier
for your company to begin selling products internationally, since lower tariffs keep
consumer prices lower and fewer restrictions when crossing borders makes it
easier for a company to enter a foreign market. It also means that companies
must consider other cultures when developing their business strategies and
potentially adjust the product and marketing messages if they aren't appropriate
in the target country.
3. Do you think International Business can still exist even without going global? Why?
- International business can exist without globalization, but not vice versa.
Monopolies, tariffs, government intervention and the theft of intellectual property
all interfere with the globalized level playing field but none of them stop
international trade.