International Management
Midterm Exam
Course Introduction
International Management explores the strategies, challenges, and skills necessary for effective management in a globalized business environment. The course examines how multinational corporations operate across borders, considering cultural differences, political and economic environments, ethical issues, and legal frameworks. Students learn about international market entry strategies, global leadership, cross-cultural communication, and the adaptation of management practices to diverse contexts. Through case studies and real-world examples, the course prepares students to critically analyze and respond to the complexities of managing organizations in a global landscape.
Recommended Textbook
Introduction to Global Business 1st Edition by Julian Gaspar
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15 Chapters
1250 Verified Questions
1250 Flashcards
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Page 2
Chapter 1: The Rise of Globalization
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) Even though business is global, the credit crisis of 2008, started by an American investment bank, was limited to the American economy with fortunately no impact on the global economy.
A)True
B)False
Answer: False
Q2) GATT refers to which of the following?
A) General Agreement of Tariffs and Trade
B) Great American Trade Tax
C) Gift of American Treaty Tips
D) General Articles on Tariffs and Trade
E) Great Articles on Tariffs and Trade
Answer: A
Q3) With business becoming increasingly global, its success, fortunately, depends only on the domestic environment.
A)True
B)False
Answer: False
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Chapter 2: The Evolution of International Business
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88 Verified Questions
88 Flashcards
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Sample Questions
Q1) Taxes on imports that are collected by a designated government agency responsible for regulating imports are called _____.
A) custom duties
B) ad valorem tariffs
C) specific tariffs
D) preferential tariffs
E) generalized tariffs
Answer: A
Q2) The agreement reached between Power Trip and the two foreign nations where they would sell components to Power Trip in exchange for allowing sales of its products within their borders most closely resembles which one of the following?
A) Subsidizing exports
B) Establishing a generalized system of preferences
C) Development of a domestic content provision
D) Establishment of a quantitative restriction (QR)
E) Engagement in countertrade
Answer: E
Q3) The two-way flow of exports and imports of goods is called ______.
Answer: Trade
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Page 4
Chapter 3: Regional Economic Integration
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69 Verified Questions
69 Flashcards
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Sample Questions
Q1) The Lynette Company's plan to continue its operations within the Asia market offers many benefits as well as challenges. Which one of the following would provide the least degree of challenge for the stability of this company's business operations?
A) Development of a free trade agreement with China
B) The economic rise of China
C) Ability to tap China's declining business market
D) Job loss prevention through a free trade agreement with China
E) Ability to tap China's growing consumer market
Answer: A
Q2) A group of free trade member countries that have adopted a common external tariff with nonmember countries refers to ______.
Answer: customs union
Q3) One could argue that regional and global integration are not complements, but substitutes to economic development of a particular region.
A)True
B)False
Answer: False
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Chapter 4: The International Flow of Funds and Exchange
Rates
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) The ______is the price that one currency can be converted to another currency.
Q2) The International Monetary Fund (IMF)was established under the Bretton Woods Agreement to help ensure the stability of the international monetary and financial system.
A)True
B)False
Q3) ______ refers to the theory stating that interest rates on bonds in different countries should be the same, as investors would buy and sell these bonds to make arbitrage profits until this condition holds.
Q4) Differentiate between the current account and the financial account for a country.
Q5) Whether the trade balance is positive (surplus)or negative (deficit)is important because it provides a measure of the financing needs of a particular country. Hence, the trade balance is more important than current account balance.
A)True
B)False
Q6) Prices of a foreign currency in (for example)dollars, or the number of dollars per foreign currency refers to ______.
Page 6
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Chapter 5: The Cultural Environment
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77 Verified Questions
77 Flashcards
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Sample Questions
Q1) Guanxi refers to the relationship between subordinates and superiors. It denotes friendship among unequals involving unlimited exchanges of favors; thus, it is not based upon sentiment.
A)True
B)False
Q2) Which of the following is NOT one of the nine cultural variables researched by the GLOBE Project?
A) Power distance
B) Uncertainty avoidance
C) Humane orientation
D) Performance orientation
E) Emotionality
Q3) Of the following, which is NOT a cultural level identified by Hofstede?
A) Individualism vs. collectivism
B) Power distance
C) Masculine vs. feminine
D) Uncertainty avoidance
E) Internal control vs. external control
Q4) Differentiate between the cultural dimensions of doing business in Korea and China.
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Chapter 6: The Legal and Political Environment of Global Business
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) ______ is defined as a situation where businesses are able to illegally alter relevant private and/or public decision making by way of bribes, kickbacks, blackmail, extortion and related activities.
Q2) The openness of democratic countries like Finland, and the protections such countries tend to generally provide for property rights and freedom of expression, usually make those countries more hospitable places to conduct global business than countries with totalitarian or semi-totalitarian political regimes.
A)True
B)False
Q3) The practice of making illegal payments to government officials or engaging in blackmail, extortion, or other related activities to obtain government contracts or governmental approval for business activities is called _____ corruption.
A) public
B) private
C) open
D) closed
E) external
Q4) What are antitrust laws and how do these laws affect business at a global level?
Page 8
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Chapter 7: Corruption and Ethics in Global Business
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59 Verified Questions
59 Flashcards
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Sample Questions
Q1) Who said, "To educate a person in mind and not in morals is to educate a menace to society"?
A) George Bush
B) Henry Ford
C) Theodore Roosevelt
D) George Washington
E) Erin Brockovich
Q2) _____ is considered by many to be the most infamous financial scandal in United States history.
A) Bank of America
B) Enron
C) Vivendi
D) Parmalat
E) Teapot Dome
Q3) _________ are a system of rules and procedures within a business designed to ensure the accuracy and reliability of financial and accounting information
Q4) The _______ is a U.S. federal law that consists of two parts: an anti-bribery provision and a requirement to maintain an adequate internal control system over financial books and records
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Chapter 8: Entry Strategies in Global Business
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73 Flashcards
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Sample Questions
Q1) The United States spends _____ percent of its GDP on health care.
A) 15
B) 30
C) 45
D) 60
E) 75
Q2) According to the text, which of the following entry strategies has the lowest degree of risk?
A) Licensing
B) Wholly-owned foreign subsidiary
C) Foreign acquisition
D) Joint venture
E) Strategic alliance
Q3) The so-called BRIC countries consist of: _____.
A) Brazil, Russia, India, and China
B) Belgium, Russia, Iran, and Canada
C) Britain, Russia, Iraq, and Cuba
D) Brazil, Russia, Iraq, and Canada
E) Britain, Russia, India, and Cuba
Q4) Differentiate between strategic alliances and international joint ventures.
Page 10
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Chapter 9: Control of Global Business
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Differentiate between explicit and tacit knowledge. Explain the role these play in the coordination of strategy implementation for global businesses.
Q2) In 2009, Google Corporation was the subject of various U.S. Department of Justice and Federal Trade Commission antitrust investigations.
A)True
B)False
Q3) Walmart deciding to buy more apparel products from lower-priced Chinese manufacturers (rather than from somewhat more expensive apparel manufacturers in the United States)during the next six months is an example of an operational plan.
A)True
B)False
Q4) When R&D discoveries in the United States operations of Toddler Toys, Inc. (TTI)can easily be communicated to and accepted by its operations in Ghana, it is an example of TTI's absorptive capacity.
A)True
B)False
Q5) Describe the importance of mission in an organization's strategy making process.
Q6) _______ are one to three year plans formulated for implementing strategic goals.
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Chapter 10: The Organization of Global Business
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Sample Questions
Q1) A special case of the divisional structure where products are grouped into separate divisions according to their similarities or differences is called a _____ structure.
A) matrix
B) product
C) geographical region
D) divisional
E) hybrid
Q2) According to Ms. Bartz, former CEO of Yahoo!, organizational structure promotes innovation.
A)True
B)False
Q3) A market structure is also called area structure.
A)True
B)False
Q4) The functional organizational structure has three main advantages: It promotes economies of scale, promotes in-depth skill development, and helps eliminate competition from the market.
A)True
B)False
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Chapter 11: Global Human Resource Management
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76 Verified Questions
76 Flashcards
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Sample Questions
Q1) ______ refers to employees from a new parent or host country who are being employed in a given foreign country.
Q2) A computer programmer from India continues to receive his or her Mumbai, India base salary and is kept on the Indian operation's balance sheet. Then the company adds various allowances for cost of living, housing, education to this base salary so that the employee's overall standard of living while working in the company's London, England office will be the same as his or her standard of living in Mumbai thus would be an example of the balance sheet approach.
A)True
B)False
Q3) _______ established free trade between the United States, Canada, and Mexico.
A) NAFTA
B) NAACP
C) WTO
D) World Bank
E) NLRB
Q4) ________ are negotiations in which a number of employers jointly bargain with a given labor union.
Q5) Discuss expatriate issues as they affect staffing for global businesses.
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Chapter 12: Global Marketing
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96 Verified Questions
96 Flashcards
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Sample Questions
Q1) The Atlantic Camera & Film Company realizes it has many challenges to face while undertaking its international plan for growth. Which one of the following would be least likely to require the company to adapt to differences in the foreign market arena?
A) Most foreign countries use the metric system of measurement
B) Items are often used differently or for different purposes by foreigners than by U.S. citizens
C) The U.S. maintains an English system of measurement
D) A standardization strategy to be used by the company
E) Electrical voltages and systems differ in foreign nations
Q2) ______ is the performance of various aspects of customer service that meets customer expectations.
Q3) _______ is a formal, written procedure to determine which of a company's products should be dropped.
Q4) The marketing strategy which involves pursuing a standardization strategy in foreign markets when possible and an adaptation one when necessary refers to ______.
Q5) A product that can be sold in most world markets is a _____.
Q6) Describe how new products are developed for international markets.
Q7) _______ is the price that an overseas market is willing to pay.
Page 14
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Chapter 13: Global Operations and Supply-Chain Management
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) When the goods dominate the value of a product, it is typically called a manufacturing system.
A)True
B)False
Q2) In the production system model, _____ represent the desired goods and services.
A) inputs
B) outputs
C) raw materials
D) components
E) factors of production
Q3) The practice of producing the components and raw materials in-house and from suppliers is referred to as supply-chain malfunction.
A)True
B)False
Q4) Determining if products made in-house will be produced in one or more facilities, and if these facilities should be located in one or more countries is called __________.
Q5) A company that only completes product design and outsources all other production process functions is called a __________.
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Chapter 14: Global Financial Management
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) ______ are debt contracts sold by firms domiciled in a country in the home currency.
Q2) Attempts in currencies and currency derivatives to earn profits from trading them and help to make prices efficient are referred to as _______.
Q3) Bonds that are sold in any country outside the home country, but in the home country's currency, are called government bonds.
A)True
B)False
Q4) Two kinds of short-term effects of currency movements are _____ risk and _____ risk.
A) transactions; translation
B) transactions; exchange rate
C) economic; translation
D) consolidated; economic
E) accounting; translation
Q5) ______ refers to an investor's right to buy an asset at a pre-determined price.
Q6) Explain the domestic versus global cost of capital.
Q7) Bank and government loans used by exporters to finance working capital refers to ______.
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Chapter 15: Accounting and Taxation in Global Business
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74 Verified Questions
74 Flashcards
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Sample Questions
Q1) Of the following, which is NOT one of the four financial statements that represent a business in financial terms?
A) Income statement
B) Balance sheet
C) Statement of retained earnings
D) Statement of cash flows
E) Statement of net value
Q2) The ______ refers to the record that lists the balances of the asset, liability, and owners' equity accounts of a business on a specific date
Q3) Are International Financial Reporting Standards important to global business operations? Explain.
Q4) An evaluation of a company's financial statements in order to identify significant trends or relationships among the items is called a(n)_____ analysis.
A) relative
B) financial statement
C) domestic
D) management accounting
E) accounting
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