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Exam2 Int Business (1)
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Exam2 Int Business (1)
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Exam2 Int BusinessA local labor market is made up of - CORRECT ANSWER-the pool of available
employees with the necessary skills and who are within commuting distance.
Environmental scanning is mostly used - CORRECT ANSWER-during the planning
process to assess world threats.
International strategy can be described as - CORRECT ANSWER-a plan that guides
the way firms makes choices about developing and deploying resources.
Generally, management prefers global product standardization because - CORRECT
ANSWER-it creates lower costs.
Market screening is used by a company to - CORRECT ANSWER-pinpoint the most
attractive prospects.
To be effective, a company's international strategy mustbe - CORRECT
ANSWER-consistent among all the functions and activities of the company.
A company's ability to achieve and maintain a unique and valuable competitive
position both within a nation and globally, generating higher rates of profit than its
competitors, is known as - CORRECT ANSWER-competitive advantage.
Bretton Woods led to an exchange rate agreement known as the Bretton Woods
System or - CORRECT ANSWER-the gold exchange standard
The management team met to discuss the best way to promote, price, and distribute
the new product. What is the management team working on? - CORRECT
ANSWER-the marketing mix
If a company is able to standardize the marketing mix globally, how does it affect
economies of scale? - CORRECT ANSWER-The company can take advantage of
economies of scale based on longer production runs and lower manufacturing costs.
Jefferson Materials Corp. has developed a fire-resistant fabric that no one else has
been able to replicate. It is used throughout the world in firefighting equipment and
supplies. Since it is the only company making the product, customers are willing to
pay a premium for the fabric. In this scenario, the fire-resistant fabric has helped the
company develop a(n) - CORRECT ANSWER-competitive advantage
More than one-third of the world's population age 15-24 live in which two developing
countries? - CORRECT ANSWER-india and china
, During the initial screening process, Carlock Inc. decided not to pursue activity in
South America because consumers weren't interested in purchasing high-end door
locks for their automobiles. What was Carlock assessing in the initial process? -
CORRECT ANSWER-basic needs potential
Regarding a sustainable competitive advantage, the company must have skills or
competencies that - CORRECT ANSWER-are difficult to imitate or substitute for.
By the year 2050, what percent of the population in developed countries is projected
to be 65 or older? - CORRECT ANSWER-25
Milo Millworks Inc. has maintained a sustainable competitive advantage for its
framing style. In order to accomplish this, the framing style must be - CORRECT
ANSWER-difficult to substitute for
To create a competitive advantage that is sustainable over time, the international
company should try to develop competencies that - CORRECT ANSWER-create
value for customers and for which they are willing to pay
Managers of international companies that are attempting to develop a competitive
advantage face a formidable challenge because - CORRECT ANSWER-time, talent,
and money are scarce
Peterson Home Centers is in the process of a market analysis. The latest reports
about the project show that it is difficult for many consumers in their target market to
obtain home improvement loans. Based on this, the company doesn't think there will
be much demand for their business and decides to search elsewhere. What step in
the screening process helped Peterson Home Centers make this decision? -
CORRECT ANSWER-second—financial and economic forces
The increasing levels of the population moving to urban areas in developing
countries results in a labor pool of - CORRECT ANSWER-low-skilled workers
SDR refers to - CORRECT ANSWER-special drawing rights, an international reserve
asset
The process by which an organization determines where it is going in the future, how
it will get there, and how it will assess whether and to what extent it has achieved its
goals is known as - CORRECT ANSWER-strategic planning
Hennessey Fashion Corp. is an online retail clothing group that plans to enter the
European market after its analysis showed that the number of digital clothing buyers
has increased steadily over the past ten years and is projected to double in the next
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