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GWU / Business / BADM 1004 / What is Homestrings?

What is Homestrings?

What is Homestrings?


School: George Washington University
Department: Business
Course: Age of Globlization
Professor: Liesl riddle
Term: Winter 2016
Tags: International and business
Cost: 50
Name: Globalization Study Guide for Quiz 4
Description: This is the completed study guide for quiz 4, the final quiz, in age of globalization.
Uploaded: 03/29/2016
11 Pages 3 Views 31 Unlocks

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Globalization Study Guide for Quiz 4  

What is Homestrings?

Class: March 28  

Preparation Materials:  

 What is Homestrings and why was it created?  

o Homestrings is an internet based-service that allows  expatriates and members of diasporas to invest in  

development opportunities in their home countries.

 What does Homestrings sell – to whom and why?  o Homestrings capitalizes on investment opportunities;  Homestrings manages much of the headache of the  

investment process, so its clients can not only invest  easily but have reassurance that their money is making a  difference and that there was a good chance of returns.  o What its built on  

 Securities and exchange commissions  

 Accredited investors  

 JOBS act  

 Investment crowdfunding- way to raise capital for a  company by collecting a relatively small amount  

from many investors  

 Why is Homestrings headquartered in London?  o Homestrings headquarters provide the organization with a  unique foundation from which to work; their proximity to  many large diaspora groups and the general advantage of  being in a country with strong global connections  

What is Dispora?


 What is the Law of Third Generation Return? Is it still  relevant today?  

o The theory of the psychology of migration says that the  first generation tries to assimilate into the country of  

residents; because of cultural differences they will have  difficulty doing so. The second generation will succeed in  assimilation. The third generation will revere the country  of origin.  

o “what the son of the migrant wishes to forget, the  Don't forget about the age old question of What is the Demand equation?

grandson wishes to remember…”

o This law is less viable in the 21st century because of  media and globalization.  We also discuss several other topics like What is conditioned stimulus?

 How has globalization affected many migrants’ political,  economic, and social relationships in their countries of  origin?  

o There are capabilities to continue to invest and continue  connection with their countries of origins. The generations  of migrants can stay closely connected with the culture of  origin.

What is the practice of conducting business according to both local and global considerations?

 Why is 1990 an important year for migration trends and the  word “diaspora?” What is the relationship between these  two issues?  

o In 1990 both forced and voluntary migration  skyrocketed. This changed the historically  

disproportions of what groups of people were  

displaced and drastically stimulated the cross  

boarder flows of people and ideas.  

 What is a diaspora? Why do we say that being a member  of a diaspora is an “opt-in” identity?  

o Diaspora: the body of Jews or Jewish communities  outside of Palestine or modern Israel  

o diaspora: “a social- political formation, created as the  result of either forced or voluntary migration, whose  members regard themselves as the same ethno-national  origin and who permanently reside as minorities in one or  several host countries. Members of such entities maintain  regular or occasional contacts with what they regard as  their homelands and with individuals and groups of the  same background residing in other host counties”  

(Sheffer, 2006: 10)  


 What are remittances and why are they particularly  important for developing countries?  

o Remittance- the sending of money, checks, etc. to a  recipient at a distance  If you want to learn more check out What are the terms use to analyze Social Class?

o This is important because it displays what sector of the  global economy is depended on aiding people outside the  country where the money is generated

 What are the four main diaspora investment motivations?  o Financial  

o Emotional  

o Social-status  

o Political  

 What are the 6 development benefits of diaspora  investment?  

o Remittances  

o Tourism  

o Direct investment  

o Portfolio Investment  

o Philanthropy  

o Volunteerism  

 Know about the Boston Day Spa and Thamel.com – what  countries they operate in, who founded them, and what  these businesses do. Know that the Boston Day Spa is an  example of diaspora direct investment and Thamel.com is  an example of a diaspora transnational business.  Don't forget about the age old question of

 What does the US Agency for International Development  (USAID) do to promote diasporas and development?  o USAID is interested in diaspora engagement NOW  because:

o External drivers

 Demographic and economic relevance  

 Roles of diaspora crisis and post-crisis scenarios   Regionally specific opportunities  

o Agency drivers  

 Sustained, localized development  

 Opportunity to integrate diaspora into agency  


 Diaspora as partners under 2015 SDGs

Classes: April 4 & 6  

Preparation Materials:  

 How does the hashtag #TheSquare illustrate the role of  social media in global social movements?  

o #TheSquare showed the difference that social media  makes on governmental responsibility to people pushing  for change. Social media allows campaigns to be diffused  around the world even when a government is trying to  cover up people’s voices  

 What is a “filter bubble?” Why might filter bubbles inhibit  social movements?  

o The filter bubble describes the phenomenon in which  people remain interacting with individuals similar to  

themselves or their society online, so remain unaware of  global internet movements or opinions. This might inhibit  social change because individuals feel globally connected  even though they are not.  

 What does this quote mean: “We live in a world of  imagined cosmopolitanism.”  

o people feel engaged or cosmopolitan even though they  are not, due to the filter bubble Don't forget about the age old question of What is isotonic to the body?

 Who is Patrick Awuah? What did he do and why is this an  example of the importance of cross-border idea flows due  to globalization?  

 Awuah is the founder of a liberal art’s school in Africa. He  believes that liberal education in areas of poverty promote non corrupt leaders who enact positive change; so he is trying to  spread this education throughout Africa  

 Why did Taco Bell decide to enter into the Indian market?  

Lecture & Discussion:  

 What are the 3 components of culture?  

o Ideas

o Norms

o Material culture

 Be able to give examples of how the Bhutan video shown  in class illustrates good and bad aspects of the cross border flow of ideas associated with globalization.

 Define cultural convergence and divergence. .  o Cultural Convergence: The tendency for cultures to  become more alike as they increasingly share technology  and organizational structures in a modern world united by  improved transportation and communication. 

o Cultural Divergence is the divide in culture into different  directions, usually because the two cultures have become  so dissimilar. The Amish provide an easy example for  understanding cultural divergence. 

 What is cultural imperialism? Why do some people  associate it with globalization? Why and how do some  people think the relationship between globalization and  cultural imperialism is changing?  

o Cultural imperialism is the imposition of a foreign  viewpoint or civilization of a people Don't forget about the age old question of Where do cliff swallows live?

o People associate globalization with imperialism because  historically the two have gone hand and hand, in less  educated societies

 What is “glocalization?” What evidence of “glocalization”  is found in the Taco Bell case?  

o Glocalization is the practice of conducting business  according to both local and global considerations. 

o The taco bell case described the way in which taco bell  struggled with both having glocalization tendencies and  lacking in. 

 Be able to point to specific examples of the taco bell case  in relation to glocalization

Classes: April 11 & 13  

Preparation Materials:  

 Why and how does the story of the Gros Michel banana  illustrate the benefits and negatives of the cross-border  flow of product due to globalization?  

o It perfectly illustrates the best of the increase supply and  travel of goods, however it also displays the negative  impacts on the environment and labor forces

 What is happening with the Cavendish banana globally?  Why is it vulnerable and how has globalization played a  role? What is its future according to scientists and how  might this impact individuals, firms, and nations?  o International banana trade began in early 1800s

o As faster more reliable ships became available fruit could  be shipped greater distances  

o With better post-harvest practices (refrigeration and  regulated gas environments) even greater distances were  possible

 What is fast fashion?  

o Fast fashion is a contemporary term used by  

fashion retailers to express that designs move from  

catwalk quickly in order to capture  

current fashion trends. Fast fashion clothing collections  are based on the most recent fashion trends presented  at Fashion Week in both the spring and the autumn of  every year. 

 How does fast fashion put pressure on global natural  resources?  

o The need for constantly new product means huge  amounts of water and other resources are being used  wasteful in large quantities to keep up with the amount  needed.

 Why does H&M not know for certain at the beginning of the  case whether they have sourced from Rana Plaza or not?  o The businesses H&M and many other places use to  

create their product often time contract out, with little  documentation, to sweatshops and factories who also

may contract out. There is little accountability in the  



 What are the drivers of cross-border flows of product and  production? Be able to list and explain each.  

o Overcapacity in many industries, global competition  seeking lower labor costs, developing transport  

infrastructure, information technology improves  

communication, WTO/trade agreements, regionalism of  triads (North America, EU, Japan/Pacific Rim)  

 How have trends in global trade changed since 2008 and  what are the 3 reasons why this has taken place?  o Before the 2008 crisis, global trade grew as much as  TWICE the rate of global output for DECADES…  

o Since 2011, trade growth has slowed to be in line with –  or even below – the broader growth of the global  


 What is a supply chain? What is outsourcing?  o Supply Chain: The network created among different  companies producing, handling and/or distributing a  specific product from inputs to consumer.  

o Outsourcing: To obtain goods from an outside  

o or foreign supplier in place of an internal source  


 Watch BigBoxmart video about the critiques of global  supply chains.  

 What are some of the internal and external to the firm risks  of global supply chains?  



 How has the textile and apparel industry contributed to  development in many nations?  

o The textile and apparel industry is the first industry  nations develop into after agricultural industries, so it  stimulates the economies and progress in developing  countries.  

 Why do some people say the concept of a sweatshop is  “relative?”  

o – a shop or factory in which employees work for long  hours at low wages and under unhealthy conditions.  o Varying degrees of conditions lead this to be subjective  o See Travels of a T-Shirt Discussion - “Sisters in Time:  From the Farm, the Sweatshop and Beyond”  

 What was the Agreement of Textiles and Clothing and why  is it important for the globalization of the textile and  apparel industry?  

o o Lead to quota elimination  

 How has quota elimination in the textiles and apparel  industry affected individuals, firms, and nations?  o Vastly stimulated trade and women’s roles in work  


 How is the rise of fast fashion connected to the Agreement  of Textiles and Clothing? How has the rise of fast fashion

furthered the development of sweatshops around the  world?  

o Fast fashion directly connects to increased need in the  amount of quota produced by sweatshops, therefore the  increase of this trend increases worldwide textile  


 Why do firms like H&M source from factories like Rana  Plaza?  

o Places like Rana Plaza provide cheap and little regulated  labor, which large cooperation’s feed off of.

Class: April 18  

Preparation Materials:  

 Does Pankaj Ghemawhat (featured in the TED talk) believe  the world is flat? Why or why not?  

o No, it is a metaphor for the increased intercommunication  and trade networks globalization has provided the world  o “Globaloney can be harmful to your health”  

o Data to assess degree of globalization  

 Telephone service (2%)  

 Migration (3%)  

 FDI (10%)  

 What is the DHL Global Connectedness Index? Which  countries/regions are some of the leaders and laggards of  this index?  

o How active nations are in global interaction, it seems to  directly correlate with development however not with  trade

o 3 Dimensions  

 Depth – how much economic activities/flows are  

international vs. domestic by comparing size of  

international flows (and stocks cumulated from prior  

year flows) with relevant measures of its domestic  


 Breadth – how broadly the international component  of any given type of activity is distributed across  


 Directionality – examines whether and to what  

degree activities of flows are inward or outward.  

 What is the main argument of the article, “Globalization:  The Good, The Bad, and the Uncertain?”  

o “While global policy has been focused on facilitating  integration, the implications of growing interdependence  have been largely ignored.”  

 Increased fragility through vulnerabilities created by  exposure to global shocks, e.g., financial crises,  

climate change, food & water insecurity, pandemics,

bioterrorism, cybersecurity, supply chain  

vulnerability, etc.

 “To harness these opportunities, we need an  

intellectual revolution. We need a citizen’s  

mobilization and we certainly need a fundamental  

leadership and institutional shift.”  


Is globalization good, bad and for whom? What were some of  the main ideas discussed in class along each of these themes?  o Multinational Production: Firms are firms, but big decisions at  Intel were made by people.  

o Negotiations: There are good and bad negotiators, but the  structure of the negotiation is your friend. Or enemy.  o Inequality: Globalization can increase or decrease inequality for  countries, regions, groups, families, or individuals.  

o Demographic Pressures: Globalization has improved social &  health indicators, spurring more countries to enter into  demographic transition, leading to an aging world. Increased  migration creates pressures for economies & societies to  integrate new populations.  

o Resource Pressures: Globalization has both contributed to  climate change and pressures on natural resource stocks but  also has increased opportunities for the collaboration necessary  to work toward solving these looming problems.  

o Cross-border Flows: Increased flows of ideas, people, product  and production globally has increased potential for innovation,  creativity and growth while at the same time increased risk for  conflict created perceived threats to local cultures, and even  

partially weakened national sovereignty.

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