4. Monetization (n)
Definition Related Words
Examples
The process of generating revenue
from a product, service, or activity.
Social media platforms are
constantly exploring new ways to
monetize their user base through
advertising and in-app purchases.
Synonyms
Commercialization
Profit generation
5. Start-up (n)
Definition Related Words
Examples
A young company founded by
entrepreneurs to develop a unique
product or innovative idea.
Many startups focus on developing
cutting-edge solutions in the field
of artificial intelligence.
Synonyms
New company
New venture
Emerging company
6. Automation (n)
Definition Related Words
Examples
The use of technology to perform
tasks automatically, often replacing
human labor.
The rise of automation in
manufacturing has led to increased
efficiency but also concerns about
job displacement.
Synonyms
Mechanization
Computerization
7. Artificial Intelligence
(AI)
Definition Related Words
Examples
Simulation of human intelligence in
machines that are programmed to
think like humans and mimic their
thinking, actions, etc…
AI has the potential to
revolutionize various industries,
from healthcare and transportation
to customer service and education.
Synonyms
Machine intelligence
8. High-Tech (adj)
Definition Related Words
Examples
Relating to the latest and most
advanced technology.
Silicon Valley is a hub for hi-tech
companies developing innovative
products and services.
Synonyms
Cutting-edge
Advanced
Hi-Tech
10. Tariffs (n)
Definition Related Words
Examples
A tax imposed on goods imported
from another country. (A fee added
to a product from overseas)
The high tariffs on imported metals
made it more expensive for
domestic manufacturers to
compete.
Synonyms
tax
fee
levy
charge
11. Globalization (n)
Definition Related Words
Examples
The increasing interconnectedness
of world economies, cultures, and
societies.
Globalization has led to a rise in
multinational corporations selling
products worldwide.
Synonyms
global growth
worldwide integration
12. Subsidiary (n)
Definition Related Words
Examples
A smaller company that is legally
owned and controlled by a larger
company.
The fast-food chain opened a
subsidiary in France to cater to
the European market.
Synonyms
subordinate
secondary
daughter company (business)
13. Logistics (n)
Definition Related Words
Examples
The process of planning, organizing,
and controlling the movement and
storage of goods and materials.
Efficient logistics is crucial for
online retailers to deliver products
quickly and at a low cost.
Synonyms
Planning
Organization
Supply Chain Management
14. Negotiation (n)
Definition Related Words
Examples
The process of discussing a matter
to reach an agreement.
The trade negotiations between
the two countries focused on
reducing barriers to trade.
Synonyms
Bargaining
Discussion
Parley
15. Domestic (adj)
Definition Related Words
Examples
Of or relating to a particular
country; internal. (Things happening
inside a country's borders.)
The government's domestic policies
focused on improving education and
healthcare.
Synonyms
Internal
National
16. Foreign (adj)
Definition Related Words
Examples
Located, occurring, or made in a
country other than your own.
The company is looking to expand
its operations into foreign markets.
Synonyms
Overseas
External
Unfamilar
17. How has globalization impacted your country's economy and
culture?
Discuss some of the benefits and challenges associated with
globalization.
The Impact of Globalization
18. Imagine you're a representative from a company that exports
bicycles, video games, rice, etc.
Discuss the potential impact of high tariffs on your business.
How might trade negotiations influence these tariffs?
Trade Barriers and Tariffs
19. Describe the importance of efficient logistics in international trade.
Can you name some of the different aspects of logistics?
Logistics: The Backbone of Business:
20. Explain the difference between domestic policy and foreign policy.
Discuss how a country's domestic policies can sometimes influence
its foreign policy decisions, and vice versa.
Balancing Domestic and Foreign Policies
21. The internet has revolutionized global trade, with e-
commerce platforms like Amazon and Alibaba
experiencing explosive growth. While this offers
increased opportunities for businesses to reach
international markets, it also presents challenges.
Smaller companies may struggle to compete with
the competitive pricing and vast selection offered
by these e-commerce giants. Additionally,
navigating complex tariffs and logistics associated
with international shipping can be daunting for new
entrants. However, e-commerce platforms offer
significant potential for businesses willing to adapt
and embrace innovative online marketing
strategies. By understanding customer preferences
in different regions and developing culturally
sensitive marketing campaigns, companies can
leverage the power of e-commerce to reach new
markets and expand their global footprint.
What is the main topic of the
passage?
a) The history of online shopping
b) The challenges of traditional
retail
c) The benefits of e-commerce
platforms for businesses
d) How to avoid customs fees on
online purchases
22. The internet has revolutionized global trade, with e-
commerce platforms like Amazon and Alibaba
experiencing explosive growth. While this offers
increased opportunities for businesses to reach
international markets, it also presents challenges.
Smaller companies may struggle to compete with
the competitive pricing and vast selection offered
by these e-commerce giants. Additionally,
navigating complex tariffs and logistics associated
with international shipping can be daunting for new
entrants. However, e-commerce platforms offer
significant potential for businesses willing to adapt
and embrace innovative online marketing
strategies. By understanding customer preferences
in different regions and developing culturally
sensitive marketing campaigns, companies can
leverage the power of e-commerce to reach new
markets and expand their global footprint.
According to the passage,
what are some challenges of
e-commerce for smaller
businesses?
a) Difficulty in developing a
website
b) Competition from large e-
commerce companies
c) Lack of internet access in all
countries
d) Limited product selection for
online shopping
23. The internet has revolutionized global trade, with e-
commerce platforms like Amazon and Alibaba
experiencing explosive growth. While this offers
increased opportunities for businesses to reach
international markets, it also presents challenges.
Smaller companies may struggle to compete with
the competitive pricing and vast selection offered
by these e-commerce giants. Additionally,
navigating complex tariffs and logistics associated
with international shipping can be daunting for new
entrants. However, e-commerce platforms offer
significant potential for businesses willing to adapt
and embrace innovative online marketing
strategies. By understanding customer preferences
in different regions and developing culturally
sensitive marketing campaigns, companies can
leverage the power of e-commerce to reach new
markets and expand their global footprint.
What can businesses do to be
successful in e-commerce
according to the passage?
a) Offer the lowest prices on all
products
b) Understand customer
preferences in different regions
c) Focus only on selling
domestically
d) Ship all products
internationally regardless of cost
24. Globalization has led many companies to establish
subsidiaries in foreign countries. This strategy
allows them to tap into new markets, reduce
production costs, and avoid high tariffs. For
example, a clothing company might open a
subsidiary in a country with lower labor costs to
manufacture garments at a more affordable price.
However, managing subsidiaries comes with its
own set of challenges. Cultural differences and
varying regulations across countries can create
communication barriers and logistical difficulties.
Additionally, ensuring ethical labor practices and
environmental sustainability throughout the global
supply chain is crucial for responsible businesses.
What is the main idea of this
passage?
a) The benefits and challenges
of using subsidiaries for
international expansion.
b) The negative impacts of
globalization on the
environment.
c) How to open a business in a
foreign country.
d) The importance of ethical
labor practices in domestic
markets.
25. Globalization has led many companies to establish
subsidiaries in foreign countries. This strategy
allows them to tap into new markets, reduce
production costs, and avoid high tariffs. For
example, a clothing company might open a
subsidiary in a country with lower labor costs to
manufacture garments at a more affordable price.
However, managing subsidiaries comes with its
own set of challenges. Cultural differences and
varying regulations across countries can create
communication barriers and logistical difficulties.
Additionally, ensuring ethical labor practices and
environmental sustainability throughout the global
supply chain is crucial for responsible businesses.
Why might a company
establish a subsidiary in
another country according to
the passage?
a) To learn about a different
culture
b) To close down their factories
in their home country
c) To reduce production costs
and avoid tariffs (Answer Key: c)
d) To increase shipping times for
their products
26. Globalization has led many companies to establish
subsidiaries in foreign countries. This strategy
allows them to tap into new markets, reduce
production costs, and avoid high tariffs. For
example, a clothing company might open a
subsidiary in a country with lower labor costs to
manufacture garments at a more affordable price.
However, managing subsidiaries comes with its
own set of challenges. Cultural differences and
varying regulations across countries can create
communication barriers and logistical difficulties.
Additionally, ensuring ethical labor practices and
environmental sustainability throughout the global
supply chain is crucial for responsible businesses.
What are some challenges
companies might face when
managing subsidiaries?
a) Cultural differences and
varying regulations
b) Difficulty finding qualified
employees in other countries
c) Lack of access to the internet
in some countries
d) All of the above
27. E-Commerce and Cultural Nuances
The growing popularity of e-commerce platforms presents both
opportunities and challenges for businesses entering international
markets. Choose a specific product category (e.g., clothing,
electronics, furniture) and discuss the following:
Homework
28. E-Commerce and Cultural Nuances
1. How can companies leverage e-commerce platforms to reach new
customers in different countries?
2. What are some potential cultural considerations companies should
be aware of when developing marketing strategies for online sales in
a foreign market? (Think about language, design, and payment
preferences.)
3. Provide an example of a company that has successfully adapted
its e-commerce approach to cater to different cultural norms.
Homework
Editor's Notes
Could be partially owned.
Sample Answer: AI can help do things faster, like answering questions online. But, it might make people lazy because machines do everything.
Sample Answer: I think AI doctors can change the future. They can help sick people everywhere, even where there are no hospitals.
Sample Answer: Yes, I thought about a start-up that delivers fresh fruit to people's homes. It helps people eat healthy easily.
Sample Answer: Start-ups are important because they think of new ideas that big companies don't. They make new things that can help people in different ways.
Sample Answer: It's important because it makes sure the start-up has money to keep working and to make their products better.
Sample Answer: Yes, a game that is free to play but you can buy special clothes for your character. It's smart because you can play for free, but you might want to buy something special.
b) The challenges of traditional retail (Answer Key: b)
b) Competition from large e-commerce companies (Answer Key: b)
b) Understand customer preferences in different regions (Answer Key: b)
a) The benefits and challenges of using subsidiaries for international expansion. (Answer Key: a)
a) Cultural differences and varying regulations
Sample Answer: I think technology will make the future exciting. We should learn more about it in school to be ready for new jobs and inventions.
Sample Answer: I think technology will make the future exciting. We should learn more about it in school to be ready for new jobs and inventions.