Question 1

Explain the different levels of organizational involvement in international trade.

Accepted Answer

The answer of Explain the different levels of organizational involvement...

Question 2

A major advantage of utilizing an export agent is that the company does not have to deal with

Accepted Answer

The advantage of working with an export agent is that the firm doesn't have to deal with foreign currencies and red tape.

Question 3

Globalization refers only to products,not promotion or distribution.

Accepted Answer

A global strategy or globalization involves standardizing products,promotion and distribution for the whole world as if it were a single entity.

Question 4

An intermediary,or middleman,who markets goods in another country is acting as a(n)

Accepted Answer

An export agent is an intermediary that handles international transactions for other firms.

Question 5

Globalization involves standardizing products for the whole world as if it were a single entity.

Accepted Answer

A global strategy or globalization involves standardizing products,promotion and distribution for the whole world as if it were a single entity.

Question 6

When two computer companies joined together in hopes of obtaining a competitive advantage on a worldwide basis,this exemplifies a

Accepted Answer

A strategic alliance is a partnership formed to create a competitive advantage based on a worldwide basis.

Question 7

When Nike has its athletic shoes produced by companies in Asia,the Nike name still appears on the shoes.This illustrates

Accepted Answer

Contract manufacturing occurs when a company hires a foreign company to produce a specified volume of the firm's product to specification;the final product carries the domestic firm's name.

Question 8

More companies are moving away from _______ strategy to globalization.

Accepted Answer

More companies are moving away from customization strategy to globalization,which involves standardizing products for global consumption.

Question 9

Because many countries do not permit foreign companies to purchase and operate facilities in their countries,a company wishing to do business in such a country may share the business costs with the host country by forming a

Accepted Answer

A joint venture is a partnership between a foreign firm and a local firm.

Question 10

Coca-Cola allows a Mexican firm to use its name,formula,and brands in return for a royalty.This arrangement is known as

Accepted Answer

Licensing is a trade arrangement in which one company (the licensor)allows another company (the licensee)to use its company name,products,patents,brands,trademarks,raw materials,and/or production processes in exchange for a fee or royalty.

Question 11

Companies doing business internationally have traditionally used a globalization strategy.

Accepted Answer

Companies doing business internationally have traditionally used a multinational strategy.

Question 12

The fact that the American company 3M owns a film-manufacturing facility in Italy is an example of

Accepted Answer

Direct investment is the ownership of overseas facilities.

Question 13

Even when products are standardized,advertising often has to be modified.

Accepted Answer

Even when products are standardized,advertising often has to be modified to adapt to language and cultural differences.

Question 14

A corporation that operates in several countries but without significant ties to any of them is a(n)

Accepted Answer

A multinational corporation (MNC)is a corporation that operates on a worldwide scale and has no direct ties to any one country or region.

Question 15

The purchase of overseas production and marketing facilities is

Accepted Answer

Direct investment is the ownership of overseas facilities.

Question 16

An understanding of which of the following realities is not required for businesspeople to plan in a global economy?

Accepted Answer

Planning in a global economy requires businesspeople to understand the economic,legal,political,and sociocultural realities.

Question 17

Why does direct investment have a high degree of commitment than a countertrade agreement?

Accepted Answer

The answer of Why does direct investment have a high...

Question 18

Many businesspeople today try to "think locally,act globally."

Accepted Answer

Astute businesspeople today "think globally,act locally," which means constantly being aware of the big picture but adjusting the firm's strategies to conform to local tastes and needs.

Question 19

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

Accepted Answer

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

Question 20

Trading companies offer all of the following services except

Accepted Answer

Trading companies handle all activities required to move products from one country to another,including consulting,marketing research,advertising,insurance,product research and design,warehousing,and foreign exchange services to companies interested in selling their products in foreign markets.

Quiz 3: Business in a Borderless World

Explain the different levels of organizational involvement in international trade.

A major advantage of utilizing an export agent is that the company does not have to deal with

Globalization refers only to products,not promotion or distribution.

An intermediary,or middleman,who markets goods in another country is acting as a(n)

Globalization involves standardizing products for the whole world as if it were a single entity.

When two computer companies joined together in hopes of obtaining a competitive advantage on a worldwide basis,this exemplifies a

When Nike has its athletic shoes produced by companies in Asia,the Nike name still appears on the shoes.This illustrates

More companies are moving away from _______ strategy to globalization.

Because many countries do not permit foreign companies to purchase and operate facilities in their countries,a company wishing to do business in such a country may share the business costs with the host country by forming a

Coca-Cola allows a Mexican firm to use its name,formula,and brands in return for a royalty.This arrangement is known as

Companies doing business internationally have traditionally used a globalization strategy.

The fact that the American company 3M owns a film-manufacturing facility in Italy is an example of

Even when products are standardized,advertising often has to be modified.

A corporation that operates in several countries but without significant ties to any of them is a(n)

The purchase of overseas production and marketing facilities is

An understanding of which of the following realities is not required for businesspeople to plan in a global economy?

Why does direct investment have a high degree of commitment than a countertrade agreement?

Many businesspeople today try to "think locally,act globally."

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

Trading companies offer all of the following services except