Globalization: The process by which businesses develop international influence or start operating on an international scale, driven by trade and direct investment, leading to interconnected markets and industries worldwide.
Internationalization: The expansion of a company's operations across national borders through trade (exports/imports) and direct investment (building or acquiring assets abroad).
Multinational Corporation (MNC): A company that operates in multiple countries, often with subsidiaries, manufacturing plants, or offices outside its home country, leveraging international resources and markets.
Comparative Advantage: The economic principle that a country should produce and export goods and services it can produce most efficiently, based on its resource endowments, and import those it produces less efficiently.
1. What is globalization in the context of industry impact?
2. What is the primary role of internationalization modes in global business strategy?
3. How do competitive advantage and the national environment differ or are similar in influencing a firm's industry success?
Competitive advantage — national environment?
Depends on resources, industry clusters, demand, and rivalry.
Internationalization — modes?
Trade and direct investment.
Globalization — industry impact?
Expands markets, increases competition, shifts industry leadership.
Globalization — definition?
Process of worldwide business interconnectedness.
Internationalization — expansion method?
Cross-border operations via trade and investment.
MNC — role?
Operates in multiple countries, leveraging international resources.
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