Emerging Markets Business
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Course Introduction
This course explores the unique opportunities and challenges presented by emerging markets and their growing impact on the global economy. Students will examine the economic, political, and social factors shaping business environments in regions such as Asia, Latin America, Eastern Europe, and Africa. Topics include market entry strategies, risk assessment, cultural considerations, regulatory environments, and the role of multinational corporations. Through case studies and real-world examples, learners will develop the analytical and strategic skills needed to succeed in dynamic and rapidly evolving emerging markets.
Recommended Textbook
International Business 16th Edition by John Daniels
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Page 2
Chapter 1: Globalization and International Business
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Sample Questions
Q1) Although globalization may bring economic growth, critics nevertheless contend that
A)the growth is too fast
B)the inequality of gains puts some people in a relatively worse economic situation
C)this growth is mainly for the future, thus ignoring present economic growth needs
D)the cultural foundations of sovereignty are supported by globalization
Answer: B
Q2) In addition to understanding the laws affecting business in countries where their companies operate, it is most important for managers to understand the ________.
A)methods for appointing local judges
B)ethical rationale behind the laws
C)history of the local legal system
D)degree of law enforcement
Answer: D
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Chapter 2: The Cultural Environments Facing Business
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Q1) What are the advantages and disadvantages of using a nation as a point of reference for a culture?
Answer: The nation, as opposed to the State, provides a workable definition of a culture for international business because basic similarity among people is both a cause and an effect of national boundaries.The laws governing business operations also apply primarily along national lines.Within the bounds of a nation are people who largely share essential attributes, such as values, language, and race.However, these shared attributes do not mean that everyone in a country is alike, nor do they suggest that each country is unique in all respects.
Q2) Studies indicate a strong correlation between the intensity of religious belief and
A)a desire to convert productivity gains into more leisure time
B)an adherence to some attributes that lead to economic growth
C)the belief that material success is related to salvation
D)the degree of ethnocentrism exhibited in a culture
Answer: B
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Chapter 3: The Political and Legal Environments Facing Business
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Q1) Which of the following is most likely a true statement regarding the rule of law? The rule of law is a hallmark of ________.
A)a totalitarian government
B)a democratic government
C)societies that place ultimate power in the hands of one person
D)countries that are considered "partly free"
Answer: B
Q2) Harmon Clothing has a production facility located in Venezuela.Recently, Harmon has been unable to arrange for overseas loans due to the burdensome regulatory policies of the Venezuelan government.Which type of political risk is Harmon most likely experiencing?
A)catastrophic
B)distributive
C)procedural
D)systemic
Answer: D
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Chapter 4: The Economic Environments Facing Businesses
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Q1) The government considers itself a better judge of resource allocation than businesses or citizens in a market economy.
A)True
B)False
Q2) Uneven income distribution is largely a problem confined to poorer nations.
A)True
B)False
Q3) The ________ starts with the same accounting framework used to calculate GDP but then adjusts for values assigned to environmental quality, population health, livelihood security, equity, free time, and educational attainment.
A)Gross National Index
B)Net National Product
C)Genuine Progress Indicator
D)Human Development Index
Q4) Which of the following is NOT a characteristic of capitalism?
A)private ownership of assets
B)right to profit from individual effort
C)state control of factors of production
D)private control of investment
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Chapter 5: Globalization and Society
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Q1) The teleological approach asserts that individuals make moral judgments independent of consequences.
A)True
B)False
Q2) Which of the following is most important when designing an internal code of conduct?
A)requesting U.N. oversight and intervention when necessary
B)communicating the code of conduct only to employees
C)reporting results to external stakeholders
D)forming local policies for each subsidiary
Q3) Which stakeholder group is most interested in trustworthy behavior by corporate executives and increased corporate taxes?
A)shareholders
B)society
C)employees
D)customers
Q4) Explain why the argument that "anything that is legal is ethical" is insufficient.
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Chapter 6: International Trade and Factor-Mobility Theory
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Q1) The most internationally mobile factor of production is ________.
A)labor
B)management
C)long-term capital
D)short-term capital
Q2) The finite nature of natural resources should work as a disadvantage for the export prices of developing countries.
A)True
B)False
Q3) What assumptions underlie the theories of specialization in international trade? What are the limitations of these assumptions?
Q4) According to the theory of comparative advantage, a country gains from foreign trade even though it may have an absolute advantage in the production of all products because ________.
A)the country will forgo producing its less efficient output in order to produce its more efficient output
B)workers become more efficient through specialization
C)economies of scale will reduce cost
D)there will be more incentive to develop cost-saving technologies
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Chapter 7: Governmental Influence on Trade
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Q1) According to the optimum tariff theory, a foreign producer will most likely
A)ship highly taxed goods internationally on a per-unit basis
B)lower its export prices if the importing country imposes an import tax on its products
C)assess a tax on goods shipped internationally based on a percentage of the goods' value
D)seek import tariffs by using the comparable access argument
Q2) The international regulatory situation for trade is becoming more, rather than less, complex.
A)True
B)False
Q3) The countries most likely to be successful at using trade retaliation are large trading countries.
A)True
B)False
Q4) The most common type of tariff is the export tariff.
A)True
B)False
Q5) Describe and compare the different types of tariffs (duties).
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Chapter 8: Cross-National Cooperation and Agreements
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Q1) In a brief essay, explain the roles of the World Trade Organization and the United Nations in international trade.
Q2) Although the European Union is a common market, member countries have different economic growth rates.
A)True
B)False
Q3) Korman Industries is a foreign multinational that recently established operations in the European Union.What is the most likely advantage for Korman as a result?
A)Governance processes are streamlined because local governments have been eliminated.
B)Market size is larger because of the elimination of internal tariff barriers.
C)Differential external tariff barriers exist for product shipments.
D)The EU uses English as its official language.
Q4) NAFTA was primarily formed because the member nations have ________.
A)static and dynamic liberalization policies
B)similarly sized economies and resources
C)geographic proximity to each other
D)competing interests with the EU
Q5) Are commodity agreements effective? Why or why not?
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Chapter 9: Global Foreign-Exchange Markets
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Q1) A confirmed letter of credit may obligate the exporter's bank to honor a draft presented to it.
A)True
B)False
Q2) Which of the following is the price at which the trader is willing to sell foreign currency?
A)offer
B)bid
C)spread
D)cross rate
Q3) A speculator is someone who ________.
A)trades foreign exchange illegally
B)deals in the black market in currency
C)takes positions in foreign-exchange markets to earn a profit
D)works for OTC financial institutions rather than non-financial corporations
Q4) Most foreign exchange is handled through voice brokers.
A)True
B)False
Q5) What is currency speculation? Why is it risky?
Q6) How is foreign exchange traded? What methods are available?
Page 11
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Chapter 10: The Determination of Exchange Rates
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Q1) Many economists have predicted that Hong Kong will change its currency system to the ________.
A)U.S. dollar
B)euro
C)yuan
D)won
Q2) Which of the following statements BEST describes a limitation of the Big Mac Index?
A)Profit margins vary by the strength of competition, which affects relative prices.
B)The theory of PPP incorrectly assumes that there are barriers to trade.
C)The Big Mac represents all possible commodities and services.
D)Taxes have no effect on Big Mac prices.
Q3) The IMF uses the quota system to determine how much a country may borrow from the Fund.
A)True
B)False
Q4) The SDR is equal in value to the U.S.dollar.
A)True
B)False
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Page 12
Chapter 11: Global Capital Markets
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Q1) If a foreign subsidiary is located in a low tax country, the parent company would probably use a ________.
A)high transfer price on inventory shipped from the parent to the subsidiary
B)high transfer price on goods sold by the subsidiary to the parent
C)low transfer price on inventory shipped from the subsidiary to the parent
D)tax credit price to minimize local tax liabilities
Q2) Foreign source income that is derived from the active conduct of a trade or business and therefore subject to U.S.taxation is known as ________.
A)passive income
B)active income
C)uncontrollable foreign corporation income
D)tax haven income
Q3) MNEs most likely use offshore debt markets ________.
A)to hide their cash from tax authorities
B)to take advantage of their ability to access capital in different countries
C)since debt in foreign countries is always cheaper than in the home-country market
D)because investors don't like to invest in companies that only raise capital in their home markets
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Chapter 12: The Strategy of International Business
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Q1) Johnson & Johnson delegates to its subsidiaries a great deal of authority to respond to local conditions.Many subsidiaries have their own manufacturing, marketing, research, and human resource functions.This value chain configuration illustrates the ________ strategy.
A)transnational
B)global
C)localization
D)international
Q2) The term ________ refers to a global company that thrives on seeking unique ideas and insights from locations around the world and then leveraging that knowledge in international markets.
A)multidomestic
B)domestic
C)metanational
D)cross-cultural
Q3) Describe the pressures for local responsiveness that international companies face.
Q4) Dispersed value chains make sense when costs vary across countries.
A)True
B)False
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Chapter 13: Country Evaluation and Selection
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Q1) A go/no-go decision for foreign expansion means that management reviews existing information and decides whether more information is needed.
A)True
B)False
Q2) When comparing economic and demographic variables among countries, one should consider that consumers in developing countries do not necessarily follow the same historical patterns as those in more developed countries.
A)True
B)False
Q3) The origin of investment proposals differs from the origin of divestment proposals in that the divestment proposals are more likely to come from ________.
A)subsidiary management
B)outside the organization
C)higher up in the organization
D)line personnel as opposed to staff personnel
Q4) What problems are common with the published data available about different countries?
Q5) What is scanning? What opportunities and risks are most relevant to scanning?
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Chapter 14: Export and Import
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Q1) Pender Pet Products is considered an opportunistic importer because the firm seeks products around the world that it can import and sell profitably to domestic consumers.
A)True
B)False
Q2) What are export management companies, and how do they help potential exporters?
Q3) Which of the following is NOT an example of a service export?
A)a management firm providing advice to a foreign client
B)an investment bank arranging financing for a foreign firm
C)a coffee chain opening a new store in a foreign country
D)an engineering firm building roads in a foreign country
Q4) Why is countertrade considered inefficient?
Q5) Which of the following is NOT one of the three common ways that private trade intermediaries are paid by exporters?
A)commission rate
B)buy-sell basis
C)fixed salary
D)special event contribution
Q6) Why are financial risks a key concern of SMEs considering international trade?
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Q7) What is a born global? How has technology triggered the growth of born globals?
Chapter 15: Direct Investment and Collaborative Strategies
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Q1) An argument for limiting foreign control of key industries is that decisions made abroad can have adverse effects on the local economy.
A)True
B)False
Q2) Appropriability theory refers to ________.
A)denying rivals access to competitive resources such as management know-how
B)categorizing the appropriateness of a firm's foreign investments in terms of host country objectives
C)explaining an investing firm's choice of partner in a joint venture
D)predicting the general pattern of direct investment locations
Q3) A U.S.firm owns 100% of its production facility in Brazil; thus it is most likely using a(n)________ strategy.
A)comprehensive ownership
B)vertical integration
C)appropriability
D)internalization
Q4) Explain how franchising agreements differ from licensing agreements.
Q5) What is an equity alliance? What motives would a firm have for forming an equity alliance?
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Chapter 16: The Organization of International Business
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Q1) The fundamental limitation of a matrix structure is that it ________.
A)creates a poor organizational culture
B)isolates upper management from operational levels
C)institutes a dual hierarchy that violates the unity-of-command principle
D)introduces more errors in the decision-making process due to the speed of the process
Q2) Which of the following begins with a company defining critical success factors and specifying objective targets and hard deadlines?
A)coordination by standardization
B)coordination by consensus
C)coordination by plan
D)coordination by intervention
Q3) Vertical and horizontal constraints that segment employees and their tasks within an organization are generally referred to as ________.
A)structures
B)networks
C)boundaries
D)classifications
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Chapter 17: Marketing Globally
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Q1) In a production orientation, a company focuses on efficiency and product quality when selling abroad.
A)True
B)False
Q2) Which of the following is NOT true about distribution concerns when marketing internationally?
A)Geographic barriers may divide countries into very distinct markets.
B)In some countries, few potential sales lie outside the large metropolitan areas.
C)Each country has its own distribution system, making standardization of distribution difficult.
D)Because most foreign consumers are easily presold by advertising messages, it is difficult to convince retailers to offer good service.
Q3) In a short essay, discuss the standardization of two marketing components: advertising and distribution.
Q4) In a short essay, discuss gap analysis.
Q5) What factors makes international pricing and distribution more complex than domestic pricing and distribution?
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Page 19
Chapter 18: Global Manufacturing and Supply Chain Management
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Q1) Most U.S.companies have moved from a total quality management (TQM)approach to an acceptable quality level (AQL)approach.
A)True
B)False
Q2) EDI is software that can link information flows from different parts of a business and from different geographic areas.
A)True
B)False
Q3) Amazon relies on the Internet to join together suppliers with companies and companies with customers.Amazon is most likely using ________.
A)value-added networks
B)e-commerce
C)electronic data interchange
D)private technology exchange
Q4) Onshoring is also knows as reshoring.
A)True
B)False
Q5) Describe total quality management.
Page 20
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Chapter 19: International Accounting and Finance Issues
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Q1) Financial statements typically include ________.
A)accompanying footnotes, a balance sheet, and a cash-flow statement
B)translations into the languages of every country where the company lists shares
C)different currency results to reflect the different countries where the company has investments or generates revenues
D)different reports detailing the differences in generally accepted accounting principles used by the company in different countries
Q2) Both the form and content of financial statements are currently the same in most countries due to the convergence of accounting implemented by the International Accounting Standards Board.
A)True
B)False
Q3) The process of combining financial statements of different subsidiaries into one statement is known as ________.
A)conversion
B)translation
C)consolidation
D)recognition
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Chapter 20: International Human Resource Management
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Q1) The staffing policy at Hanover International is to seek the best people for key jobs throughout the organization, regardless of nationality.Hanover most likely follows a(n)________ staffing approach.
A)geocentric
B)intercentric
C)polycentric
D)ethnocentric
Q2) Which of the following interpretative frameworks does NOT automatically presume that a particular nation provides a solution to every problem or an explanation for every action?
A)ethnocentric
B)geocentric
C)polycentric
D)intercentric
Q3) What individual characteristics and qualifications should a company consider when choosing managerial candidates for foreign assignments? Which one do you think is most important? Why?
Q4) Why is global HRM more difficult than domestic HRM? How can staffing a foreign facility with locals alleviate some of these HRM difficulties?
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