Global Entrepreneurship
Midterm Exam
Course Introduction
Global Entrepreneurship explores the principles, challenges, and opportunities involved in creating and managing new ventures in an international context. This course examines how entrepreneurs identify, evaluate, and exploit business opportunities across borders, considering diverse cultural, economic, legal, and political environments. Students will analyze case studies of successful global startups, learn about international market entry strategies, funding options, and scaling business models. The course also emphasizes the development of a global entrepreneurial mindset, risk management, and the role of innovation in launching sustainable ventures worldwide.
Recommended Textbook
Global Business Today 3rd Edition by Charles
W. L. Hill Dr
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14 Chapters
699 Verified Questions
699 Flashcards
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Page 2
Chapter 1: Globalisation
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Sample Questions
Q1) Due to containerisation and transportation technology,the transportation costs associated with the globalisation of production have:
A)remained the same.
B)increased dramatically.
C)declined.
D)increased slightly.
Answer: C
Q2) Although outsourcing has been primarily confined to ______increasingly,companies are taking advantage of outsourcing for ________.
A)services;manufacturing
B)manufacturing;services
C)mining;manufacturing
D)manufacturing;mining
Answer: B
Q3) The European Union Central Fund (EUCP)has replaced that of the International Monetary Fund (IMF).
A)True
B)False
Answer: False
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Page 3
Chapter 2: Theories of Trade: Investment and Internationalisation
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Sample Questions
Q1) According to the textbook,most economists prefer the Heckscher-Ohlin theory to Ricardo's theory (i.e.comparative advantage)because of which of the following two factors?
A)It makes fewer simplifying assumptions and it has been subjected to many empirical tests.
B)It has been subjected to many empirical tests and it has stood the test of time.
C)It makes fewer simplifying assumptions and it has been acknowledged by the World Trade Organization as the better of the two theories.
D)It has been acknowledged as the better of the two theories by the World Trade Organization and it has stood the test of time.
Answer: A
Q2) Michael Porter's (1990)'Diamond' has four attributes of a nation: (a)factor endowments; (b)domestic demand conditions; (c)relating and supporting industries;and (d)firm strategy,structure and rivalry.Focus therefore centres on national competitive advantage.
A)True
B)False
Answer: True
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Chapter 3: The Political Economy of Trade and Investment
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Sample Questions
Q1) Since national governments and the general public dislike increasing foreign debt,this is known as running a:
A)current account surplus.
B)current account deficit.
C)payment surplus.
D)payment deficit.
Answer: B
Q2) In general,what are two paths of arguments for government intervention into the free flow of trade?
A)patriotic and sociocultural
B)sociocultural and legal
C)political and economic
D)legal and patriotic
Answer: C
Q3) There is a strong correlation between trade and FDI liberalisation.
A)True
B)False
Answer: True
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Chapter 4: Foreign Exchange and the International Monetary System
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Sample Questions
Q1) One key assumption concerning the principles of currency convertibility is that:
A)currencies are freely convertible.
B)a country allows anybody to purchase any amount of a foreign currency.
C)it involves large funds over short-term periods.
D)host recipients benefit the most from the transactions.
Q2) When traders follow the actions of others to force down the value of their holdings,this is called the bandwagon effect.
A)True
B)False
Q3) The US dollar is regarded as a ________ currency,as it is regarded as one of the most traded currencies in the world.
A)desirable
B)vehicle
C)convertible
D)speculative
Q4) The world's four major trading currencies - the British pound,the euro,the Japanese yen and the US dollar - all free float against each other.
A)True
B)False
6
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Chapter 5: Differences in Culture
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Sample Questions
Q1) Translation researchers are moving to a system of concept translation where word translation alone is insufficient.
A)True
B)False
Q2) ____________an understanding of how cultural differences across and within nations can affect the way in which business is practised.
A)Cross-cultural literacy
B)Cultural business sensitivity
C)Cross-national awareness
D)Cross-border sensitivity
Q3) Which of the following lists correctly identifies the world's major religions by size from highest to lowest?
A)Hinduism,Islam,Christianity,Buddhism
B)Christianity,Islam,Hinduism,Buddhism
C)Christianity,Hinduism,Islam,Buddhism
D)Buddhism,Islam,Christianity,Hinduism
Q4) There are the two central components of culture - values and norms.
A)True
B)False
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Chapter 6: Political and Legal Environments
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Q1) The parties to an agreement normally resort to _________ when one party feels the other has violated either the letter of the spirit of the agreement.
A)property law
B)arbitration
C)a third-party mediator
D)contract law
Q2) In Australia,the Trade Practices Act 1974 (Cwlth)has its basis in ______ability legislation.
A)commodities
B)product
C)services
D)people
Q3) Competition law aims to prevent businesses from obtaining or using ______wer to conduct anticompetitive practices.
A)personal
B)normative
C)coercive
D)market
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Chapter 7: Economic Environment
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Sample Questions
Q1) The United Nations _________ index is based on life expectancy,literacy rates and whether average incomes are sufficient to meet the basic needs of life in a country.
A)Human Development
B)Standard of Living
C)Quality of Life
D)Economic Development
Q2) The ratio of output to labour and capital inputs is called productivity.
A)True
B)False
Q3) A recession is a widespread ______ in activity,usually indicated by successive periods of ______ economic growth.
A)upturn;high
B)downturn;neutral
C)downturn;negative
D)disappointment;low
Q4) Current economic conditions reflect the stage of the business cycle.
A)True
B)False
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Chapter 8: Ethics and Corporate Responsibilty
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Sample Questions
Q1) The ethical implications of facilitating payments or speed money,under the Foreign Corrupt Practices Act and the OECD convention on bribery,is very:
A)unclear.
B)certain.
C)strict.
D)imperfect.
Q2) Many of the ethical issues and dilemmas in international business are rooted in monetary values.
A)True
B)False
Q3) Utilitarian approaches to ethics hold that the moral worth of actions or practices is determined by their _________.
A)initial start-up costs
B)consequences
C)cost benefit analysis
D)risk assessment
Q4) Freedom of speech is considered to be the most valued human right.
A)True
B)False
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Chapter 9: Country Market Analysis
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Sample Questions
Q1) For managers in SMEs without any international experience in exporting,the best strategy to enter markets that are physically and economically close to the home market is said to be the:
A)no-risk strategy.
B)medium-risk strategy.
C)low-risk strategy.
D)high-risk strategy.
Q2) Companies who know how to grow their firm,take advantage of economies of scale,utilise marketing advantages (unique product,marketing know-how),diversify,build the brand or extend sales of seasonal products need not undertake a county market analysis.
A)True
B)False
Q3) What type of costs involve promoting and establishing a product offering,including the costs of educating customers?
A)trail-blazing costs
B)pioneering costs
C)second-mover costs
D)timing costs
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Page 11
Chapter 10: The Strategy of International Business
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Sample Questions
Q1) The text explains leveraging of products and markets to mean:
A)core competencies (development of skills within the firm that cannot be easily matched).
B)core capabilities (the building blocks of corporate strategy - business processes).
C)core systems (which are part of the business collective and cross-functional).
D)core skills (that links to staff,style and synergy).
Q2) Production is concerned with:
A)the creation of a good or service.
B)productivity and sales.
C)making a profit.
D)customers.
Q3) Threats of protectionism,economic nationalism and local content rules:
A)try to keep foreign companies out.
B)dictate that international businesses manufacture locally.
C)put harsh regulations on distribution.
D)strictly regulate the raw materials that foreign companies use.
Q4) Evolution strategies are pursued only by those firms who are evolving.
A)True
B)False
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Chapter 11: Entering Foreign Markets
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Sample Questions
Q1) An arrangement whereby a firm grants the rights to intangible property to another entity for a specified time period in exchange for payment is an exporting agreement.
A)True
B)False
Q2) Every export is an import in the recipient country.
A)True
B)False
Q3) Skills within the firm that competitors cannot easily match or imitate are referred to as:
A)core competencies.
B)global competencies.
C)in-born skills.
D)competitive strengths.
Q4) The two entry strategies that have a lot of similarities in common are:
A)licensing and build-own-transfer.
B)franchising and licensing.
C)exporting and importing.
D)wholly owned subsidiary and business networks.
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Chapter 12: International Marketing and RD
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Sample Questions
Q1) Going global for jeans company Levi Strauss has also meant the company now customises their product offerings.
A)True
B)False
Q2) In some countries such as Australia,the retail system is very concentrated,but in others it is fragmented.In a concentrated retail system:
A)publicity is free while advertising costs are high.
B)the practitioner controls advertising but not publicity.
C)publicity targets multiple publics while advertising targets only consumers.
D)few retailers supply most of the market.
Q3) For BMW,the two basic components of a customer's evaluation of a vehicle's attributes are:
A)expectations and customer contact.
B)expectations and actual experience.
C)intangibility and inconsistency.
D)experience and credence.
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Chapter 13: International Production, Outsourcing and Logistics
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Sample Questions
Q1) Which of the following is a consequence of an EDI system?
A)Production costs are increased.
B)Most paperwork between suppliers,shippers and the purchasing firm is eliminated.
C)It is difficult for suppliers,shippers and the purchasing firm to communicate due to the complexity and slowness of the system.
D)Flexibility and responsiveness of the supply system is decreaseD.
Q2) W.Edwards Deming,was one of the founding members of the Total Quality Management (TQM)movement in the 1980s.Deming identified a number of steps that should be part of any TQM program.He argued that management should embrace the philosophy that mistakes,defects and poor-quality materials are not acceptable and should be eliminated.
A)True
B)False
Q3) Greater product quality which lowers warranty costs,scrap costs and the need to higher rework is the result of improved quality control.
A)True
B)False
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Page 15
Chapter 14: International Human Resources Management
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Sample Questions
Q1) _______ makes it difficult to evaluate the performance of expatriate managers.
A)Lack of cultural experience
B)Unintentional bias
C)Jealousy
D)Lack of respect
Q2) Which of the following is NOT a response that organised labour has taken as a result of increased bargaining power of multinationals?
A)try to establish international labour organisations
B)lobby for legislation to restrict multinationals
C)bribe multinational executives
D)obtain help from organisations like the United Nations
Q3) The type of training that is aimed at helping an expatriate manager,and his or her family,ease themselves into day-to-day life in the host country,is called:
A)cognitive training.
B)practical training.
C)technical training.
D)cultural training.
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