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WGU D080 Exam – Questions & 100% Correct Answers WGU D080 Exam – Questions & 100% Correct Answers What is globalization? - ANSWER - When international integration arises from the interchange of world views, products, ideas, and other aspects of cultures. different types of Globalization - ANSWER - 1. Economic 2. Political 3. Cultural Advantages of Economic globalization - ANSWER - more trade, investments, information technology, faster economic development, and increased social being Disadvantages of Economic globalization - ANSWER - benefits the rich at the expense of the poor, manufacturing job loss in developed countries, environmental damage, and unethical practices of labor Advantages of Political globalization - ANSWER - more cooperation amount countries, formation of international or regional organizations, NGOs Disadvantages of Political globalization - ANSWER - reduce the importance of nation-states, loss of sovereignty and power of local government Advantages of Cultural globalization - ANSWER - awareness of international community Disadvantages of Cultural globalization - ANSWER - loss of uniqueness of a country's culture What is international business? - ANSWER - any situation where the production or distribution of goods or services crosses country borders What are opportunities for international business? - ANSWER - New and large international markets offers possible more revenues, lower costs, and access to advanced technology What are challenges for international business? - ANSWER - Ethical business practice concerns, organizational structure (create new division), public relations (build customer loyalty), leaderships, and legal and regulatory structure What are the 5 stages of going global? - ANSWER - 1. Market entry 2. product specialization 3. value chain disaggregation 4. value chain reengineering 5. creation of new markets