Tag: concept and necessity of globalization

Questions Related to concept and necessity of globalization

Globalization of the economics and globalization of business are ___________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. independent

  2. less Inter-dependent

  3. very much inter-dependent

  4. none of the above

Show answer
Correct Option: C
Explanation:

Globalization of the economics and globalization of business are very much inter-dependent.Globalization is defined as the process of growing interdependence of the economies through increasing volume and variety of cross border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology.

The process of eliminating unnecessary controls and restrictions on the smooth functioning of a business enterprise is known as ________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. liberalisation

  2. globalisation

  3. privatisation

  4. none of the above

Show answer
Correct Option: A
Explanation:

Liberalization has resulted in easy entry of foreign business organization. Liberalization refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprise.

The importance of globalization for multinational firms is________________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. home demand, home factor conditions and domestic rivalry are no longer important to multinational firms.

  2. a multinational firm can gain a competitive advantage in a foreign country.

  3. the home base is no longer important to multinational firms.

  4. all of the above.

Show answer
Correct Option: D
Explanation:
Globalization refers to the process of increasing the interdependence among different nations of the world.The globalization process is boosted with technological advancement. The importance of globalization for multinational firms is:
a) home demand, home factor conditions and domestic rivalry are no longer important to multinational firms.b) a multinational firm can gain a competitive advantage in a foreign country
c) the home base is no longer important to multinational firms.

Out of the following ___________ represents a company's effort to identify and categorize groups of customers and countries according to common characteristics________________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. global targeting.

  2. global marketing research

  3. global market segmentation

  4. global positioning.

Show answer
Correct Option: C
Explanation:

Global market segmentation represents a company's effort to identify and categorize groups of customers and countries according to common characteristics. It is a part of the process of globalization as it helps to increase interdependence among various nations. It helps to serve the interest of the customers.

Liberalization does NOT include__________________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. reduction in taxes

  2. simplifying exports

  3. reducing administrative burden on state.

  4. abolishing industrial licensing requirement for most of the industries.

Show answer
Correct Option: C
Explanation:

Liberalization does NOT include reducing administrative burden on state. It is a process by which free and fair trade is promoted. It includes reduction in taxes, simplification of exports and abolishing industrial licensing requirement for most of the  industries.

The objective of global marketing is to ______________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. coordinate the marketing activities within the constraints of the global environment.

  2. satisfy global customers better than competition.

  3. find global customers.

  4. achieve all of the above.

Show answer
Correct Option: D
Explanation:
Global marketing helps to promote free and fair trade at a large extent. It also helps to increase the interdependence among different nations of the world. The objective of global marketing is to:a) coordinate the marketing activities within the constraints of the global environment.
b) satisfy global customers better than competition.
c) find global customers.

If it is a global organization it means_________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. creating both standardized and customized products.

  2. creating standardized products for homogeneous markets

  3. customizing the product range for each segment in part.

  4. none of the above.

Show answer
Correct Option: A
Explanation:

If it is a global organization it means creating both standardized and customized products. Global organizations sell standard products in every region across the globe. It promotes the the process of globalization which helps to increase the interdependence among the different nations of the world.

Which factor has been the most rapidly changing component in an organization's general environment in the past quarter-century?

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. Global

  2. Economic

  3. Social

  4. Technological

Show answer
Correct Option: D
Explanation:

Technological factor has been the most rapidly changing component in an organization's general environment in the past quarter-century. Technology changes fast and to keep the pace with the dynamics of business environment; organization must be on its toes to adapt to the changed technology in their system.

The following factors are key drivers of globalisation________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. government action, exchanges rates, competition and sociodemographic factors.

  2. market convergence, competition, exchange rates and cost advantage

  3. cost advantages, government action, economic cycles and competition.

  4. market, cost, competition and government policies.

Show answer
Correct Option: D
Explanation:

Globalization is a process of increasing the interdependence among the different economies of the world. This process of globalization is greatly promoted by the advancement of technology. The following factors are key drivers of globalization: market, cost, competition and government policies.

Globalisation has brought_________________.

organisation of commerce and management liberalization, privatization and globalization concept and necessity of globalization highlights of lpg policy multinational corporations

  1. economic growth best growing inequalities wealth and

  2. resentment from low skilled workers who see there jobs go abroad

  3. a & b

  4. real jobs in less developed countries and closed the poverty gap.

Show answer
Correct Option: C
Explanation:
Globalization refers to the process of increasing the interdependence of the different countries of the world. This process of globalization is promoted by the advancement of the technology.Globalization has brought:a) economic growth best growing inequalities wealth
b) resentment from low skilled workers who see there jobs go abroad.