To think critically about: Whether small business will participate in global trade in future. Introduction: The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

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Answer 1

Question

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

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In 2022, GlobalTech, a multinational company, expanded its operations into a developing country with different cultural norms around labor practices. While GlobalTech's corporate ethics emphasised fair wages, safe working conditions, and environmental sustainability, local business practices often included lower wages, minimal safety protocols, and lax environmental regulations. The CEO, Jane Harris, who strongly believed in ethical universalism, faced pressure from the local management team to adapt to the region’s practices to reduce operational costs and gain competitive advantage. As the company compromised on wages and environmental standards, it sparked internal conflicts among employees, with some advocating for adherence to the company's global ethical policies while others argued for alignment with local practices under the guise of ethical relativism. Soon after, news broke out about poor working conditions and environmental violations, leading to public outrage, protests,…

Answer 2

Question

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

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Answer 4

Question

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

Answer 6

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

Answer 7

Chapter 3, Problem 1CT

Summary Introduction

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Answer 8

Expert Solution & Answer

Explanation of Solution

Given information:

95% of world’s population lives outside the U.S. and many U.S. companies especially small business are still not doing business at global level.

Explanation:

No, small business will not participate in global trade in future. Following are the reasons explained:

Doing business at global trade is not every one’s cup of tea to achieve success. Global marketing is too expensive for small business, it will not be easy for them to get success because it requires more investment, capital and they have to face lot of risks which may cause close down of business.
If small business moves its operation at global level then they have to face different culture, rules, regulations and laws which will be difficult for the small business to adapt such things easily.
There are many big corporate who can easily adapt the scenario of global markets and can achieve more success globally but small business mainly operates its business at small scale, if they enter into global market they cannot compete with the big firms and will shut down. As a result worker will lose their jobs.
Before going global small business have to become economically and financially strong and also have to maintain good reputation in the market.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Conclusion

Thus, as the global business is expensive and difficult to do the small business will not participate in global trade.

Answer 12

Ch. 3.1 - Prob. 3.1AQ Ch. 3.2 - Prob. 3.2AQ Ch. 3.2 - Prob. 1TP Ch. 3.2 - Prob. 2TP Ch. 3.2 - Prob. 3TP Ch. 3.2 - Prob. 4TP Ch. 3.3 - Prob. 3.3AQ Ch. 3.3 - Prob. 3.3BQ Ch. 3.3 - Prob. 3.3CQ Ch. 3.3 - Prob. 5TP

To think critically about: Whether small business will participate in global trade in future. Introduction: The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

To think critically about: Whether small business will participate in global trade in future. Introduction: The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.

Explanation of Solution

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Chapter 3 Solutions

To think critically about: Whether small business will participate in global trade in future.

Introduction:

The activity in which trading of goods and services is done at global level is known as global trade. It is also known as international trade.