International Management
Exam Answer Key
Course Introduction
International Management explores the complexities of managing organizations in a global context, emphasizing the impact of cultural, economic, legal, and political environments on business strategies and decision-making. The course covers topics such as cross-cultural communication, international human resource management, global leadership, ethical considerations, and the development of competitive strategies for multinational enterprises. Students will analyze case studies and participate in discussions to understand the challenges and opportunities faced by managers operating across borders, preparing them to navigate and lead effectively in diverse international settings.
Recommended Textbook
International Business Opportunities and Challenges v2.0 by Mason A. Carpenter
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15 Chapters
1488 Verified Questions
1488 Flashcards
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) According to Thomas Friedman,the _____ stage of global development saw the introduction of modern communications and cheaper shipping costs.
Answer: second
Q2) Ethics as a concept is neither a slave to law nor to science.Explain.
Answer: Ethics is not following the law.A good system of law does incorporate many ethical standards,but law can deviate from what is ethical.Law can become ethically corrupt,as some totalitarian regimes have made it.Law can be a function of power alone and designed to serve the interests of narrow groups.Ethics is not science either.Social and natural science can provide important data to help us make better ethical choices.Science may provide an explanation for what humans are like.But ethics provides reasons for how humans ought to act.Just because something is scientifically or technologically possible,it may not be ethical to do it.
Q3) _____ refers to the shift toward a more interdependent and integrated global economy.
Answer: G lobalization
Q4) The "Common good approach" refers to A)True
B)False
Answer: True
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Chapter 2: International Trade and Foreign Direct Investment
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Sample Questions
Q1) _____ trade refers to trade between two countries of goods produced in the same industry.
Answer: Intraindustry
Q2) Companies make portfolio investment by participating in a joint venture with a foreign company.
A)True
B)False
Answer: False
Q3) The _____ stated that a nation's wealth should not be judged by how much gold and silver it had but rather by the living standards of its people.
A)factor proportions theory
B)mercantilism theory
C)absolute advantage theory
D)comparative advantage theory
E)Leontief Paradox
Answer: C
Q4) _____ occurs when a country can produce a product better and more efficiently than it does other goods.
Answer: Comparative advantage
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Chapter 3: Culture and Business
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Sample Questions
Q1) The highest hurdle to cross-cultural understanding and effective relationships is our frequent inability to understand the influence of culture on the personality.
A)True
B)False
Answer: True
Q2) _____ refers to the set of beliefs,values,and norms,together with symbols like dramatized events and personalities that represents the unique character of an organization.
Answer: Organizational culture
Q3) The Western languages follow the traditional and the more singular definition of culture,where the word often implies refinement.
A)True
B)False
Answer: True
Q4) Ethics is a branch of philosophy that seeks to address questions about morality. A)True
B)False
Answer: True
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Page 5
Chapter 4: World Economies
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Sample Questions
Q1) The Soziale Marktwirtschaft refers to Germany's:
A)constitutional law.
B)EU membership status.
C)trade partnerships.
D)economic system.
E)right to free enterprise.
Q2) What were the repercussions of the political and economic reforms initiated by Russia in the 1990s?
Q3) Political unrest,poverty,and corruption remain persistent challenges to sustained and consistent economic growth in the African continent.
A)True
B)False
Q4) _____ refers to the fund bank started by Antoine van Agtmael wherein funds were to be used to invest in the shares of the developing countries.
A)Strategic Climate Fund
B)Third-World Equity Fund
C)Combined Services Third World Fund
D)International Monetary Fund
E)World Bank
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Chapter 5: Global and Regional Economic Cooperation and Integration
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Sample Questions
Q1) How did the General Agreement on Tariffs and Trade (GATT) promote international trade and commerce?
Q2) Current account deficit refers to imports being greater than exports.
A)True
B)False
Q3) _____ refers to a kind of economic cooperation wherein countries enter into an economic agreement to remove barriers to trade and adopt common economic policies.
A)Common market
B)Customs union
C)Free trade area
D)Economic union
E)Special economic zone
Q4) The _____ provides the day-to-day leadership and initiates legislation.
A)European Commission
B)European Parliament
C)European Council
D)Council of the European Union
E)Court of Justice
Q5) Explain GATS.
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Chapter 6: International Monetary System
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Sample Questions
Q1) _____ refers to the price of one currency in terms of a second currency.
A)Spot rate
B)Trade deficit
C)Exchange rate
D)Currency strength
E)Bank reserve
Q2) The World Bank's first loans were extended during the late 1940s to finance the:
A)infrastructural development of the newly independent countries of Asia.
B)reconstruction of the war-ravaged economies of Western Europe.
C)economic rehabilitation of the famine-struck countries of West Africa.
D)repatriation and the settlement of the Jewish population in Israel.
E)restoration of the financial institutions of North America.
Q3) The value of an SDR consists of the value of four of the IMF's biggest members' currencies,which hold equal weight.
A)True
B)False
Q4) The SDR serves as the unit of account of the IMF and countries borrow from the IMF in SDRs in times of economic need.
A)True
B)False
Page 8
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Chapter 7: Foreign Exchange and the Global Capital Markets
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Sample Questions
Q1) International equity markets consist of all the stock traded inside as well as outside the issuing company's home country.
A)True
B)False
Q2) If a European company opts to buy shirts from India with payment due in 60 days,it would be able to access the forward market to enter into a contract to lock in a future price for its payment.This would enable the European firm to protect itself against depreciation of the euro,which would require more euros to buy one Indian rupee.This contract is referred to as a(n):
A)option contract.
B)forward contract.
C)implicit contract.
D)voidable contract.
E)quasi-contract.
Q3) The Eurocurrency markets were a result of Eastern Europe's concern that any deposits of their dollars in U.S.banks might be confiscated or blocked for political reasons by the U.S.government.
A)True
B)False
Page 9
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Chapter 8: International Expansion and Global Market Opportunity Assessment
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Sample Questions
Q1) Which of the following questions would help an organization determine the favorability of the technological factors for business expansion in a PESTEL analysis?
A)What are the regulations regarding monopolies and private property?
B)What are the dominant local religions,and what influence do they have on consumer attitudes and opinions?
C)What is the status of employment,health and safety,and product safety laws?
D)What are the regulations regarding waste disposal and energy consumption?
E)What is the status of intellectual property issues in the local environment?
Q2) How has the strengthening of different currencies affected acquisitions?
Q3) Importing is a stealth form of internationalization.Explain.
Q4) Managers also need to take into consideration the macroeconomic factors that will have near-term and long-term effects on the success of their strategy.
A)True
B)False
Q5) PESTEL is an acronym for the political,economic,sociocultural,technological,_____ and legal contexts in which a firm operates.
Q6) How does PESTEL analysis aid in building a better vision of the future business landscape?
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Chapter 9: Exporting,Importing,and Global Sourcing
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Sample Questions
Q1) The _____ created a framework that calls for cooperation between the customs administrations of different countries.
Q2) _____ provides a common framework and process to ensure that each party will do what they say in the import/export transaction.
Q3) Entrepreneurs benefit from outsourcing because they can acquire services as needed,without having to build those capabilities internally.
A)True
B)False
Q4) The sight draft is payable at a later time,typically 30,60,90,or 120 days in the future as specified by the draft.
A)True
B)False
Q5) What are the investment modes of entry into a foreign country?
Q6) The _____ certification is a mark that a company's products and services have met quality standards and that the company has quality-management processes in place.
Q7) What are the hidden costs of outsourcing?
Q8) What are the two contractual modes of entry into a foreign country?
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Chapter 10: Strategy and International Business
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Sample Questions
Q1) _____ refers to a plan with a time horizon of one to three years and specifies concrete ways to implement the strategic plan.
A)Controlling
B)Organizational design
C)Organizing
D)Operational planning
E)Tactical planning
Q2) _____ strategy maximizes local responsiveness by giving decentralizing decision-making authority to local business units in each country so that they can create products and services optimized to their local markets.
A)Differentiation
B)Multidomestic
C)Global
D)Cost-leadership
E)Transnational
Q3) Vehicles are the means for participating in targeted arenas.
A)True
B)False
Q4) What is transnational strategy?
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Chapter 11: Global Entrepreneurship and Intrapreneurship
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Sample Questions
Q1) A born-global firm is a business organization that seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.
A)True
B)False
Q2) Innovation-driven economies are economies that are typical in countries that compete on the basis of:
A)unskilled labor and natural resources.
B)cutting-edge technological know-how.
C)business sophistication and innovation.
D)production processes and increased product quality.
E)advanced corporate infrastructure and business practices.
Q3) Entrepreneurs only launch commercial ventures,which sell products or services for a profit.
A)True
B)False
Q4) According to the late Jeffry Timmons,one of the early leaders in entrepreneurship education,what are the five most prevalent myths about entrepreneurship?
Q5) What are the three categories into which new venture opportunities tend to fall?
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Chapter 12: Winning Through Effective,global Talent Management
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Sample Questions
Q1) _____ refers to the process of combining tasks to form a whole job while taking into account issues of worker health and safety.
A)Job factor
B)Job selection
C)Job description
D)Job evaluation
E)Job design
Q2) _____ are those that tell the company what it has accomplished.
A)Stock market indicators
B)Leading indicators
C)Development indicators
D)Lagging indicators
E)Prospective indicators
Q3) What steps can organizations take to address the issue of cultural diversity in global firms?
Q4) Discuss the hybrid reward schemes devised in order to get the best of both the individual-based reward schemes and the team-based reward schemes.
Q5) How does diversity lead to innovation and problem solving?
Q6) Activity-based metrics are also referred to as _____ metrics.
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Chapter 13: Harnessing the Engine of Global Innovation
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Sample Questions
Q1) A low price product can be highly profitable if the seller is organized to deliver value.
A)True
B)False
Q2) What role can governments play in promoting R&D?
Q3) Governments provide tax credit to corporations to encourage them to invest in R&D in their countries.
A)True
B)False
Q4) How are the newer models of organizing R&D different from the traditional ones?
Q5) Patents cannot be granted within a single country.
A)True
B)False
Q6) A significant amount of innovation yields no new products or services because:
A)companies consider research and development a waste of resources.
B)the chief purpose of innovation is to further scientific knowledge rather than create products or services.
C)of R&D failure.
D)the innovations are not related to a company's core processes.
E)of the dearth of new ideas.
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Chapter 14: Competing Effectively Through Global
Marketing, Distribution, and Supply-Chain Management
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Sample Questions
Q1) A(n) _____ means that there is no more stock of the company's product.
Q2) In the _____ strategy,companies go back to the drawing board and rethink how best to design a product for a specific country or region.
Q3) The concept of _____ refers to designing a product for a developing country and bringing that product back to the home country.
A)reverse factoring
B)reverse brain drain
C)reverse proxy
D)reverse engineering
E)reverse innovation
Q4) What are the different methods of product adaptation followed by organizations?
Q5) _____ refers to a situation which means that there is no more stock of the company's product.
A)Stock of record
B)Stock-check
C)Safety stock
D)Stock call
E)Stock-out
Q6) What are the advantages of the sole-sourcing strategy?
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Chapter 15: Understanding the Roles of Finance and Accounting in Global Competitive Advantage
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Sample Questions
Q1) What facts must be considered by an organization when using centralized depositories?
Q2) Adopting different accounting standards makes it easier for investors or lenders to compare the financial health of two companies.
A)True
B)False
Q3) When a subsidiary obtains funding through a _____ it allows both the subsidiary and the parent eliminate paying transaction costs to an outside entity such as a bank,which would charge fees to make the transaction.
Q4) An organization wants to raise cash in order to fund its expansion plans.The company that currently has 500,000 ordinary shares decides to issue 125,000 new shares to raise cash.The above is an example of:
A)debt financing.
B)capital budgeting.
C)equity financing.
D)multilateral netting.
E)fronting loan.
Q5) In the case of _____ financing,firms can borrow money from banks or by selling bonds.
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