Management Entrepreneurship

Business

Quiz 15 :
International Small Business

Quiz 15 :
International Small Business

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The size of a business does not determine its ability to enter global markets,nor does it influence the number and scale of markets a business can enter.
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True False
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Answer:

False

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No business is too small to compete in the global market.
Free
True False
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Answer:

True

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The size of a business is not a barrier to entry into international markets; it only limits the number of markets you can serve.
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True False
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Answer:

True

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The same competitive advantages that have made small businesses successful in local markets can make those same businesses successful in foreign markets.
True False
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In an international business plan,analysis becomes more critical than information.
True False
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The vast majority of small business activity in the international market is conducted via importing and exporting.
True False
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Using licensing,a small business owner can enter a foreign market quickly with virtually no capital.
True False
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After exporting,the next level of commitment in international business is licensing.
True False
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Joint ventures are often huge successes with profits in the millions of dollars.
True False
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A foreign licensing agreement is a partnership between two businesses in different countries.
True False
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Opening a factory or a store in another country is the highest level of commitment a small business owner can make to international business.
True False
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In France,working an 80-hour work week is highly undesirable,whereas it is typical in the United States.
True False
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As seen in the chapter opener,Lonely Planet was started with the intent of writing a travel guide for every inhabited country on the planet.
True False
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Of all the ways to conduct business internationally,exporting provides the lowest level of risk and investment.
True False
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A disadvantage of exporting is reduced dependence by the small business owner on existing markets.
True False
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A disadvantage of exporting is waiting longer for payments than would occur if dealing with local markets.
True False
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The simplest and most cost-effective way for a small business to export is to hire an export service company.
True False
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For small businesses,the largest trading partners of the United States are the best countries to focus on when exporting products.
True False
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Japan,Germany,and the United Kingdom top the list of importers of products made in the United States.
True False
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A problem for many small businesses when trading internationally is getting paid for the product or service that is delivered.
True False
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