MyLab Intro to Business with Pearson eText -- Access Card -- for Business Essentials
12th Edition
ISBN: 9780134729107
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 4, Problem 4.1QR
Summary Introduction
To determine: The advantages and disadvantages of globalization.
Introduction:
A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.
Expert Solution & Answer
Explanation of Solution
Determine the advantages and disadvantages of globalization:
Advantages:
- Globalization has the potential to increase the standard of living
- Profitability of the business can be improved
- Using new technology made the communication, commerce, and international travel cheaper and faster.
Disadvantages:
- There is a chance that the business would misuse the workers in less-developed countries
- Business might bypass the domestic environmental regulation and tax regulation.
- There would be a loss of cultural heritage due to globalization.
- Globalization might give more benefits to rich people rather than improving poor people.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What is the importance of globalization?
What are some of the primary drivers of globalization, and how have they evolved over time?
What are the three most significant things we have learned from the
Globalization?
Chapter 4 Solutions
MyLab Intro to Business with Pearson eText -- Access Card -- for Business Essentials
Ch. 4 - Prob. 4.1QRCh. 4 - Prob. 4.2QRCh. 4 - Prob. 4.3QRCh. 4 - Prob. 4.4QRCh. 4 - Prob. 4.5QACh. 4 - Prob. 4.6QACh. 4 - Prob. 4.7QACh. 4 - Prob. 4.8QACh. 4 - Prob. 4.9AECh. 4 - Prob. 4.10AE
Ch. 4 - Prob. 4.11ACh. 4 - Prob. 4.12ACh. 4 - Prob. 4.13ACh. 4 - Prob. 4.14TECh. 4 - Prob. 4.15TECh. 4 - Prob. 4.16TECh. 4 - Prob. 4.17TECh. 4 - Prob. 4.18EECh. 4 - Prob. 4.19EECh. 4 - Prob. 4.20EECh. 4 - Prob. 4.21CCh. 4 - Prob. 4.22CCh. 4 - Prob. 4.23CCh. 4 - Prob. 4.24CCh. 4 - Prob. 4.25CCh. 4 - Prob. 4.26CCh. 4 - Prob. 4.27CCh. 4 - Prob. 4.28C
Knowledge Booster
Similar questions
- What are the factors and approaches that organizations can take when deciding to go global?arrow_forwardWhat are the various means available to companies to go international? When is an exporting strategy most appropriate?arrow_forwardDiscuss the advantages and disadvantages of globalization for businessarrow_forward
- Explain the Globalization strategy?arrow_forwardHow might globalization be a problem for a successful national company that is intent on going international? What advantages would the national company have by going international?arrow_forwardIf you owned a business and you decided that it was time to expand globally, what globalization strategy would you consider? Why?arrow_forward
- What is the difference between international business and globalization? What are the advantages and disadvantages of globalization?arrow_forwardHow has globalization impacted the business world, and what are some of the current trends in international business?arrow_forward1. Do you have any idea on how globalization started? 2. What are the different theories and ideologies in the study of globalization?arrow_forward
- What are some of the forces driving globalization and international business? What are some of the challenges of engaging in international business compared to doing business in your home country?arrow_forwardThere have been three major phases or eras of globalization. What are the important differences between today's third phase and the previous two phases? Do you think that there will be a fourth phase? Why or why not?arrow_forwardProvide the reasons as to why companies go international. What additional factors contribute to the increased international business activities in the recent years?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you