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BUSI 3250 Exam 1 Questions with Complete Answers
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BUSI 3250 Exam 1 Questions with Complete Answers
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BUSI 3250 Exam 1 Questions withComplete Answers
International Business - Answer-business that is carried out across national borders
Foreign Business - Answer-denotes the operations of a company outside of its home or
domestic market
International Company - Answer-A company with operations in multiple nations
environment - Answer-all of the forces influencing the life and development of the firm
Uncontrollable forces - Answer-The external forces that management has no direct
control over
External forces - Answer-forces from agents outside the system
controllable forces - Answer-internal forces that management can control
domestic environment - Answer-all the uncontrollable forces originating in the home
country that surround and influence the firm's life and development
foreign environment - Answer-All the uncontrollable forces originating outside the home
country that surround and influence the firm
International environment - Answer-Interaction between domestic and foreign
environmental forces or between sets of foreign environmental forces
self reference criterion - Answer-unconscious reference to one's own cultural values,
experiences, and knowledge as a basis for decisions
3 choices for international managers regarding a concept or technique employed in
domestic operations - Answer-1. transfer it intact
2. adapt it to local conditions
3. don't use it
History of international business - Answer-Phoenician and Greek Merchants
Chinese agricultural and industrial trade (silk routes)
Ottoman empire
Renaissance
Mercantilism
Modern day multinationals
, Recent trends in international business - Answer-surge in the number of multinationals
arising in developing countries
rapid urbanization
industrialization
Transnational Corporation - Answer-A firm that conducts business in at least two
separate countries; also known as multinational corporations.
Foreign Direct Investment - Answer-Direct investment in business operations in a
foreign country
Import - Answer-bring (goods or services) into a country from abroad for sale.
Export - Answer-A good or service produced in the home country and sold in another
country.
Five drivers of international business - Answer-political
technological
market
cost
competitive
Globalization - Answer-the process by which businesses or other organizations develop
international influence or start operating on an international scale.
arguments against globalization - Answer-1. it has produced uneven results across
nations and people
2. deleterious effects on labor and labor standards
3. decline in environmental and health conditions
Arguments for globalization - Answer-It creates more jobs in all economies.
It creates better jobs in less developed countries.
There is more foreign direct investment (FDI) and economic growth.
It provides greater consumer choice.
The proportion of world trade from the Americas, Europe, Africa, and the Middle East
has -- since 1983 - Answer-decreased
world trade continues to be dominated by-- - Answer-exchanges within geographic
regions
Major trading partners: Their relevance for managers - Answer-1. the business climate
in the importing nations are favorable
2. regulations are reasonable but not insurmountable
3. should be no strong cultural objections at home
4. satisfactory transportation facilities have already been established
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