International Business Exam 3

Define globalization and explain its impact on international business.

Compare and contrast multinational corporations (MNCs) and transnational corporations (TNCs).

What are the key components of Hofstede’s cultural dimensions theory? Provide examples.

Explain the advantages and disadvantages of a joint venture as an international market entry strategy.

What is political risk in international business? How can firms mitigate it?

Describe the role of the World Trade Organization (WTO) in regulating global trade.

What are the key differences between absolute advantage and comparative advantage in trade theory?

What is the difference between Individualism and Collectivism?

List one advantage and one disadvantage of a Joint Venture (JV).

What are three mitigation strategies for political risk in international business?