In this assignment, you will complete a 2-3 page essay about globalization (the interdependence of people, governments, and businesses of different countries) and the impact of the COVID-19 virus.<\/p>\n
As well as our <\/span>M1 Module Notes.<\/a><\/p>\n Reference our <\/span>IMF 2021 Country Classifications map<\/a> <\/span>to ensure you are selecting appropriate countries.<\/span><\/p>\n What have you learned about globalization from the required videos listed in the required learning materials?<\/p>\n Addressing the prompts in the steps above. APA formatting includes a title page, reference page, double spacing, one-inch margins, and headings. The title and reference pages are required but do not count towards the 2-3 page count.<\/p>\n Your document should be saved as a Word document (.doc, .docx, or .rtf) or PDF.<\/p>\n <\/p>\n M1.1 module notes: <\/p>\n A business is an organization involved in the trade of goods, services, or both, to consumers. It can also be called an enterprise or a firm and can be for-profit or non-profit.<\/p>\n In the simplest of definitions, an international business is one that comprises all commercial transactions that take place between two or more regions, countries, or nations (Santos, 2019).<\/p>\n The opposite of an international business is a domestic business or one that operates within a country’s borders. To move from domestic to international, the business goods (sale or purchase) must cross a country’s border.<\/p>\n Examples of international business would be:<\/p>\n In the past several decades, opportunities for international business have increased through the process of globalization. However, b<\/span>efore moving into a discussion on globalization, we must first define globalization and understand the concept as it applies to international business.<\/span> <\/span> <\/p>\n In the most basic of definitions, globalization is a process of interaction and integration among the people, companies, and governments of different nations (Asgary, 2019). <\/span><\/p>\n Countries have seen barriers removed from the movement of goods, services, and technology. Nations have strengthened the various roles of the private sector and are supporting free-market pricing. Finally, we are seeing the promotion of trade transparency and support for various trade laws globally.<\/span> Specifically, globalization has come about, or at a minimum expanded its reach, through changes in the following:<\/span><\/p>\n (Santos, 2019, p 4-5)<\/p>\n Taking advantage of the opportunities in foreign markets, organizations have built foreign factories and formalized production arrangements with foreign partners. One defining feature of globalization is the international industrial, financial, and technological business structure.<\/span><\/p>\n Prior to the 21st century, globalization occurred when businesses expanded from developed countries to emerging or developing countries (Asgary, 2019). Today, that flow of trade is bi-directional. In response to the ever-increasing flow of goods and services, numerous U.S. government agencies and international institutions were established to manage these rapidly developing movements.<\/p>\n By taking advantage of international trade, consumers around the world enjoy a larger selection of products than they would have access to domestically. Furthermore, increased international trade has stimulated economic growth globally, raising incomes, creating jobs, and reducing prices.<\/p>\n Global trade can also bring about economic, political, and social disruption. With globalization interconnecting countries, when one economy or country suffers a recession, the effects are felt globally. Moreover, if trade decreases, jobs are lost. Globalization has many benefits for international trade, but it can also have devastating effects.<\/p>\n You will learn more about the opportunities and challenges of globalization throughout this module.<\/p>\n References: <\/p>\n Note: all materials should be reviewed prior to completing our Module 1 assignment (which will also require referencing these resources).<\/em><\/p>\n Knova Academy. (2018, March 2). <\/span>If the world was only 100 people<\/em><\/a> <\/span>[Video]. YouTube. [3:35]<\/span><\/p>\n World101. (2019, June 18). <\/span>What is globalization? Understand our interconnected world<\/a> <\/span><\/em>[Video]. <\/span><\/em>YouTube. [3:14]<\/span><\/p>\n MBN. (2019, March 6). <\/span>What is the global economy?<\/em><\/a>[Video]. YouTube. [2:22].<\/span> <\/span><\/p>\n Marginal Revolution University. (2019, September 17). <\/span>Avengers: The story of globalization<\/em><\/a> <\/span>[Video]. YouTube.<\/span>[10:38]<\/span><\/p>\n Asgary, N.H. (2020). <\/span>Chapter 1,<\/span> <\/span>Globalization.<\/a> <\/span>In <\/span>Global business: An economic, social, and environmental perspective<\/em>. Information Age Publishing.<\/p>\nStep 1: Select one advanced, one developing, and one emerging IMF market. <\/strong>You will use these three countries when you get to Step 2 and 3 for this assignment.<\/strong><\/h4>\n
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<\/span><\/span><\/span><\/li>\n<\/ul>\nStep 2: Consider the following prompts:<\/strong><\/h4>\n
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Step 3: Craft a 2-3 page essay using APA formatting.<\/strong><\/h4>\n
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What is a business? <\/span><\/strong><\/em><\/h4>\n
How does one define international business?<\/strong><\/em><\/h4>\n
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How does one define globalization?<\/strong><\/em><\/h4>\n
What has spurred globalization?<\/strong><\/em><\/h4>\n
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What are the opportunities and challenges of globalization?<\/strong><\/em><\/h4>\n
Asgary, N. H. (2019). <\/span>Global business: An economic, social, and environmental perspective<\/em>. Information Age Publishing.
Santos, J. H. D. A. (2019). <\/span>International business strategy<\/em>. Society Publishing.<\/p>\n <\/span>Videos<\/strong><\/h4>\n
<\/span>Readings<\/strong><\/h4>\n