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BUSI 3250- Chapters 1-4 Exam Questions and Answers
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BUSI 3250- Chapters 1-4 Exam Questions and Answers
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BUSI 3250- Chapters 1-4 ExamQuestions and Answers
International Business - Answer-Business that is carried out across national borders.
Includes international trade and foreign manufacturing. IB deals with domestic, foreign
and international
Foreign Business - Answer-Denotes the operations of a company outside its home or
domestic market
International Company - Answer-A company with operations in multiple nations-- no
domestic firm is entirely free from foreign or international environmental forces
Environment - Answer-all of the forces influencing the life and development of the firm
Uncontrollable Forces - Answer-external forces that management has no direct control
over
Professor C.K. Prahalad popularized what term? This is also a book - Answer-"Bottom
of the Period"
How many people survive on less than $2 a day? - Answer-3 billion
Self-reference Criterion - Answer-unconscious reference to your own cultural values
when judging behaviors of others in a new and different environment
International managers have three choices in deciding what to do with a concept or a
technique employed in domestic operations: - Answer-transfer it intact, adapt it to local
conditions, or not use it overseas
Internationalization of businesses gained traction how long ago? - Answer-100 years
ago
Transnational Corporation (TNCs) - Answer-an enterprise made up of entities in more
than one nation, operating under a decision-making system that allows a common
strategy and coherent policies-- they collectively account for more than half of world
trade and 10% of world GDP
Foreign Direct Investment (FDI) - Answer-direct investment in equipment, structures
and organizations in a foreign country at a level sufficient to obtain significant
management control
Exporting - Answer-The transportation of any domestic good or service to a destination
outside a company or region
, Importing - Answer-The transportation of any good or service into a country or region,
from a foreign origination point
5 major drivers of Internationalization of Business - Answer-1. Political
2. Technological
3. Competitive
4. Market
5. Cost
Economic Globalization - Answer-The tendency toward an international integration and
interdependency of goods, technology, information, labor, capital, or the process of
making this integration happen
Arguments for globalization - Answer-- free trade enhances socioeconomic
development
- free trade promotes more and better jobs
No domestic firm is entirely free from foreign or international environmental forces due
to - Answer-Competition
What percent of jobs in Alabama depend on international trade? - Answer-20%
FDI from the US to the rest of the world was nearly $1.5 trillion from 2013 to 2017, this
was because what? - Answer-Global competition, liberalized trade policies of foreign
governments and advances in technology
Increasing sales through exporting... - Answer-Is a viable growth strategy and creates
jobs in exporting nations and acts as a warning to managers that they must be prepared
to meet increased competition from exports in their own domestic markets
Major trading partners: their relevance for managers - Answer-1. the business climate in
these importing nations is already relatively favorable
2. export and import regulations are not insurmountable
3. there should be no strong cultural objections at home to buying that nation's goods
4. satisfactory transportation facilities have already been established
Developed nations and members of regional trade agreements tend to trade with? -
Answer-each other
Trade deficit - Answer-the amount by which the value of imports into a nation exceeds
the value of exports
Trade surplus - Answer-the amount by which the value of a nation's exports exceeds
the value of its imports
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