Globalization and Business Practice Exam
Course Introduction
This course explores the dynamic relationship between globalization and the world of business, examining how global economic integration influences corporate strategies, operations, and competitiveness. Students will analyze the impact of international trade, investment, and regulatory frameworks on business practices, and consider the opportunities and challenges faced by organizations in a globalized environment. Key topics such as cross-cultural management, global supply chains, emerging markets, and the role of technology in connecting markets are discussed, enabling students to understand and critically evaluate how global trends shape business decisions and organizational success.
Recommended Textbook
International Business The Challenges of Globalization 7th Global Edition by John Wild
Available Study Resources on Quizplus
16 Chapters
1669 Verified Questions
1669 Flashcards
Source URL: https://quizplus.com/study-set/2105
Page 2
Chapter 1: Globalization
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/41907
Sample Questions
Q1) ________ involves the idea that a nation-state is autonomous,cannot intervene in the affairs of other nations,and can enter into binding international agreements.
A)National sovereignty
B)Authoritarianism
C)Cultural liberalism
D)Communalism
Answer: A
Q2) A business that has direct investments (in the form of marketing or manufacturing subsidiaries)abroad in several countries is called a ________.
A)dummy corporation
B)shell corporation
C)multinational corporation
D)domestic corporation
Answer: C
Q3) The role of the World Bank is to provide financing for national economic development efforts.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Cross-Cultural Business
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/41908
Sample Questions
Q1) A culture's values tend to become more flexible over time.
A)True
B)False
Answer: False
Q2) ________ cultures value hard work and promote entrepreneurial risk taking.
A)Short-term oriented
B)High uncertainty avoidance
C)Individualist
D)Collectivist
Answer: C
Q3) According to Hofstede's framework,which of the following dimensions describes the degree to which a culture accepts social inequality among its people?
A)power distance
B)uncertainty avoidance
C)individualism
D)collectivism
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Politics, Law, and Business Ethics
Available Study Resources on Quizplus for this Chatper
102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/41909
Sample Questions
Q1) Which of the following factors should the legal experts of Wayne's consider while evaluating the legal systems of Paribo and Kirawi?
A)the profits made by local companies in the countries
B)the prevalence of crime in the two countries
C)the resolution of contractual dispute with local vendors
D)the profits made by international companies in other countries
Answer: C
Q2) ________ is the forced transfer of assets from a company to the government with compensation.
A)Expropriation
B)Nationalization
C)Confiscation
D)Localization
Answer: A
Q3) Corporate social responsibility is the practice of going beyond legal obligations to actively balance commitments to investors,customers,other companies,and communities.
A)True
B)False Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Economics and Emerging Markets
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/41910
Sample Questions
Q1) How are countries classified? Explain with examples.
Q2) Incentives and rewards for individual business initiatives are an important aspect of collectivist cultures.
A)True
B)False
Q3) Which of the following would most likely characterize a nation with a low degree of economic freedom?
A)low government intervention
B)protected property rights
C)strict trade policies
D)low tariffs
Q4) Supply and demand are dictated by ________.
A)government ownership
B)free enterprise
C)the price mechanism
D)the management's decisions
Q5) The Chinese term "guanxi" means government ownership.
A)True
B)False
Q6) Compare and contrast the business environments in China and Russia.
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: International Trade
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/41911
Sample Questions
Q1) Explain mercantilism.What were its major flaws?
Q2) The smallest portion of the total world trade comprises trade between ________.
A)high-income and middle-income nations
B)low-income and middle-income nations
C)developed countries
D)First World member countries
Q3) A third country,Funland,also produces food and drinks.In Funland,one resource unit produces 8 tons of food and 6 tons of drinks.Which of the following is true about Funland,Foodland,and Drinkland?
A)Funland has a comparative advantage in producing drinks.
B)Funland has a comparative advantage in producing food.
C)Funland has an absolute advantage in producing food.
D)Funland has an absolute advantage in producing drinks.
Q4) The ________ theory states that a country's export eventually becomes its import.
A)competitive advantage
B)factor proportions
C)international product life cycle
D)new trade
Q5) Discuss the factor proportions theory and describe the evidence on this theory.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Business-Government Trade Relations
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/41912
Sample Questions
Q1) Rice imports to a nation under a quota limit of 8,500 tons are charged a tariff of 15 percent.Imports of rice above the quota limit are charged a tariff of 60 percent.This is an example of a(n)________.
A)export quota
B)voluntary export restraint
C)ad valorem tariff
D)tariff-quota
Q2) Explain how tariffs protect domestic producers,and describe how a foreign trade zone might offset the effects of tariffs.
Q3) The protection of infant industries by a nation's government can cause domestic companies to become complacent toward innovation.
A)True
B)False
Q4) Industries considered essential to national security often receive government-sponsored protection.
A)True
B)False
Q5) Write a short note on the World Trade Organization and its influence on the environment.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Foreign Direct Investment
Available Study Resources on Quizplus for this Chatper
104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/41913
Sample Questions
Q1) Why is it important to assess R&D costs when considering FDI? Given its costs,how can FDI benefit the host country with access to technology,management skills,and employment?
Q2) Which of the following is an example of a greenfield investment?
A)an agricultural business acquisition in South-east Asia's former agricultural region
B)the construction of an entirely new steel manufacturing subsidiary overseas
C)a merger between a U.S.and a non-U.S.company
D)the purchase of an existing business that is still in its infancy
Q3) Which of the following methods is used by a host country to restrict incoming foreign direct investment?
A)differential tax rates for earnings abroad
B)insurance to cover the risk of overseas investments
C)low-interest loans to investors
D)performance demands
Q4) Trade barriers and specialized knowledge are examples of market imperfections.
A)True
B)False
Q5) Discuss why a host country might promote or restrict foreign direct investment.
Q6) What two factors propel growth in foreign direct investment?
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Regional Economic Integration
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/41914
Sample Questions
Q1) Which of the following treaties was signed by the members of the European Coal and Steel Community in 1957 for creating the European Economic Community?
A)the Treaty of Rome
B)the Maastricht Treaty
C)the Treaty of Paris
D)the Treaty of Versailles
Q2) The least amount of sovereignty that must be surrendered to a trading bloc occurs in a ________.
A)economic union
B)common market
C)free trade area
D)political union
Q3) Briefly describe regional integration efforts in Central America and the Caribbean.
Q4) Discuss "political union" as a level of economic integration and "political cooperation" as a benefit of economic integration.
Q5) Canada and the United States are early examples of political unions.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: International Financial Markets
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/41915
Sample Questions
Q1) The practice of insuring against potential losses that result from adverse changes in exchange rates is called currency arbitrage.
A)True
B)False
Q2) An exchange rate of ¥117.87/$ indicates ________.
A)that 117.87 yen buys one dollar
B)that 117.87 dollars buys one yen
C)a direct quote on the dollar
D)an indirect quote on the yen
Q3) Booking centers are usually located on small territories with favorable tax and/or secrecy laws.
A)True
B)False
Q4) Briefly describe the three main institutions of the foreign exchange market.
Q5) Which of the following terms refers to a stock market with no central geographic location?
A)cybermarket
B)foreign exchange market
C)capital market
D)international bond market
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: International Money System
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/41916
Sample Questions
Q1) Which of the following talks about the relative ability of two countries' currencies to buy the same "basket" of goods in those two countries?
A)the Fisher effect
B)the law of one price
C)purchasing power parity
D)cross rates
Q2) According to the efficient market view for forecasting exchange rates,forward exchange rates are perfect predictors of future exchange rates.
A)True
B)False
Q3) Which of the following is the intentional lowering of a currency's value by its government?
A)revaluation
B)devaluation
C)currency hedging
D)currency arbitrage
Q4) Explain the impact of added costs,trade barriers,and investor psychology on the ability of purchasing power parity (PPP)to predict exchange rates accurately.
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: International Strategy and Organization
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/41917
Sample Questions
Q1) Global products are most commonly seen in industries where there is ________.
A)little convergence of buyer preference across national borders
B)low pressure to contain costs
C)high demand for customized products
D)significant price competition
Q2) When should managers consider decentralized decision making? What type of work teams might emerge in organizations that practice decentralized decision making?
Q3) A global strategy does not allow a company to modify its products except for the most superficial features.
A)True
B)False
Q4) A growth strategy is designed to ________.
A)guard against organizational change
B)increase the scale or scope of a corporation's operations
C)support the stability strategies of an organization
D)support the retrenchment strategies of an organization
Q5) Discuss the major points of differences between centralization and decentralization,and explain the differences between an international area structure and a global product structure.
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Analyzing International Opportunities
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/41918
Sample Questions
Q1) Which of the following stages of the market or site screening process involves competitor analysis?
A)identification of basic appeal of a product
B)measurement of market or site potential
C)assessment of the national business environment
D)selection of the market or site
Q2) Which of the following methods would be most appropriate for conducting primary market research in Country A?
A)Internet research
B)verbal questioning
C)written surveys
D)consumer panels
Q3) Which of the following stages of the market or site screening process involves an assessment of potential threat from substitute products?
A)identification of basic appeal of a product
B)measurement of market or site potential
C)assessment of the national business environment
D)selection of the market or site
To view all questions and flashcards with answers, click on the resource link above.
14
Chapter 13: Selecting and Managing Entry Modes
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/41919
Sample Questions
Q1) Which of the following is a method of export/import financing in which the importer's bank issues a document stating that the bank will pay the exporter when the exporter fulfills the terms of the document?
A)sight draft
B)bill of lading
C)letter of credit
D)bill of exchange
Q2) Which of the following statements is true of licensing?
A)Licensing restricts finances needed for international expansion.
B)Cross licensing grants a company the right to use a property but does not grant it sole access to a market.
C)A major advantage of licensing is that it is the least risky method of international expansion.
D)Licensing increases the likelihood that a licensor's product will appear on the black market.
Q3) Why would an exporter use a sales representative or a distributor? Why would the exporter be reluctant to offer an open account payment method?
Q4) What are the differences between a turnkey project and a strategic alliance?
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Developing and Marketing Products
Available Study Resources on Quizplus for this Chatper
103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/41920
Sample Questions
Q1) Which of the following products has a low value-density ratio?
A)semiconductors
B)emerald
C)crude oil
D)premium perfumes
Q2) A(n)________ channel does not create strong barriers to channel entry for other producers,nor does it provide much control over reseller decisions such as what competing brands to sell.
A)one-level
B)zero-level
C)exclusive
D)intensive
Q3) The product adaptation/communications extension method adapts both the product and its marketing communication to suit the target market.
A)True
B)False
Q4) Counterfeiting is common among highly visible brand-name consumer goods.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Managing International Operations
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/41921
Sample Questions
Q1) Companies selling differentiated products find centralized production most effective.
A)True
B)False
Q2) Which of the following is a barrier to buying products from international suppliers?
A)extremely low tariffs
B)additional transportation costs
C)lower flexibility to respond to market conditions
D)high political risk
Q3) Which of the following reasons encourages companies to buy a product rather than make it?
A)Buying a product gives managers greater control over the production process.
B)Buying a product decreases the company's total costs significantly compared to making the product in-house.
C)Buying a product ensures non-flexibility to local market conditions.
D)Buying a product enables a company to gain a great deal of power in their relationships with suppliers.
Q4) Why might companies decide to reinvest,scale back,or divest local operations?
Q5) What role does flexibility play in the make-or-buy decision?
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Hiring and Managing Employees
Available Study Resources on Quizplus for this Chatper
101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/41922
Sample Questions
Q1) A(n)________ policy would give the foreign units of a company a degree of autonomy in decision-making.
A)centralized production
B)vertical integration
C)mass customization
D)polycentric staffing
Q2) Mr.Yoshimura's daughters are extremely unhappy and have been complaining every night about their lifestyle in the United States.They insist on returning to Japan.If Mr.Yoshimura gives in to his family members' pleas and decides to return home,which of the following will most likely be true about his experience?
A)He and his family will experience reverse culture shock.
B)He will leave his company within one year of returning home.
C)His case will represent an instance of expatriate failure.
D)He will be terminated from employment for failing to complete his assignment.
Q3) The compensation of nonmanagerial workers is strongly influenced by increased cross-border business investment.
A)True
B)False
Q4) What factors influence the wages of nonmanagerial workers?
To view all questions and flashcards with answers, click on the resource link above. Page 18