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What Is Globalization? What Modes of International Business Are Used

question 52

Essay

What is globalization? What modes of international business are used by firms that want to globalize? Briefly describe each method.


Definitions:

Mass Production

The large-scale manufacturing of large quantities of products, often using assembly lines or automated technology to achieve efficiency.

Quality Control

A process through which a business seeks to ensure that product quality is maintained or improved, involving the detection of errors.

Confidence Interval

A variety of values, obtained through statistical analysis of samples, posited to likely hold the value of an unknown population parameter.

Population Proportions

Measures that represent the fraction of individuals in a population that exhibit a particular characteristic or attribute.

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