Chapter 1: The Rise of Globalization
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Q1) More globalized economies like New Zealand and Singapore rank at the top in index for absence of corruption by Transparency International.
A)True
B)False
Answer: True
Q2) As part of the World Bank's Strategic Framework, there are five focus areas that accommodate and facilitate the globalization process including its analytical and advisory role supporting national policies to strengthen free market institutions and infrastructure that has provided the potential for creating large gains from trade.
A)True
B)False
Answer: True
Q3) In communist and state-controlled economies like those in Central Asia property rights either do not exist or are not well defined which discourages domestic and foreign investors from making long-term commitments in these countries.
A)True
B)False
Answer: True
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Chapter 2: The Evolution of International Business
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Q1) Many of the clients engaging the services of the Audrey Firm practice managed trade. All of the following would most likely be a practice these nations engage in when conducting trade with other nations except which one?
A) Offer protection for specific companies
B) Adhere to stringent guidelines concerning the use of child labor
C) Pay close attention to the safety of products produced
D) Embargoes are employed to punish nations engaging in offensive practices
E) Strategic industries are given free rein in their trade practices
Answer: E
Q2) The U.S. government may require that apparel imported into the United States should use U.S. cotton, or use a certain amount of American labor. This is an example of a(n)_____.
A) quantitative restrictions
B) qualitative restrictions
C) domestic content import
D) voluntary export restriction
E) domestic content provision
Answer: E
Q3) Endowments used to produce goods and services are called ______.
Answer: Factors of production
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Chapter 3: Regional Economic Integration
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Q1) A growing ASEAN concern is the economic ascendancy of Turkey, which as a major low-cost manufacturing center, has been one of the world's most attractive destinations for foreign direct investment.
A)True
B)False
Answer: False
Q2) Although market access is essential for economic growth, proximity to major world markets is the biggest liability for just-in-time production, exports of perishable goods and tradable services.
A)True
B)False
Answer: False
Q3) Which of the following is not a free trade policy impacting Sarten Gas Company?
A) Phased elimination of all trade barriers
B) Protection of intellectual property
C) Stringent immigration policies
D) Environmental protection standards
E) Protection of workers' rights
Answer: C
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Chapter 4: The International Flow of Funds and Exchange Rates
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Q1) Differentiate between purchasing power parity and interest rate parity.
Q2) S & I Creations is most likely to use which of the following for converting the currency they are paid in from the foreign countries to the currency of Sweden?
A) The World Trade Organization
B) The Foreign Exchange Market
C) The International Monetary Fund
D) The International Finance Corporation
E) The Big Mac Index
Q3) Describe the significance of the Bretton Woods System.
Q4) According to the trade balance, the "+" sign refers to _____ and the "-" sign refers to _____.
A) when foreigners use services in a country; when foreign services are used
B) when foreign services are used; when foreign services are used
C) incoming dollars coming in when merchandise is exported; dollars that leave the country to pay for imports
D) merchandise imports; incoming dollars
E) earnings from overseas investment; payments are sent overseas
Q5) The ______ is the net of merchandise exports and merchandise imports.
Q6) Describe the different components of a forex market.
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Chapter 5: The Cultural Environment
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Q1) Briefly describe any four elements of culture. Provide an example of each.
Q2) Of the following, which is NOT a charcteristic of culture that is important for global companies to recognize?
A) Culture is learned, not inherited.
B) It is nearly impossible to change an entire country's culture.
C) It is the responsibility of the global firm to ascertain the level of importance of various aspects of culture in the foreign markets it serves.
D) Companies' operations, cheifly marketing and management, need to recognize and adjust to the cultural environment existing in the countries the global company serves.
E) Culture can be imposed from home country to host country.
Q3) Of the following, which is NOT a primary or secondary source that can be used to learn about foreign countries' cultures?
A) The U.S. Department of Commerce Commercial Guide
B) The Economist's Intelligence Unit
C) Culture Grams
D) Craigshead's International Business, Travel and Relocation Guide to 84 Countries
E) Forbes's Countries of the World
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Chapter 6: The Legal and Political Environment of Global Business
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Q1) The practice of making illegal payments to government officials or engaging in blackmail, extortion or other related activities in order to obtain government contracts or governmental approval for business activities is known as ______.
Q2) One of the international markets in which Britton Manufacturing plans to sell its products is China. All but which one of the following identifies a significant challenge facing the company in this international marketplace?
A) The product laws of China are very similar to those found within the United States.
B) China is considered a communist country in which the government owns or controls most of the factors of production.
C) There is the possibility of the Chinese government confiscating the assets (the products) of Britton Manufacturing.
D) For the most part, the government of China continues to maintain control of the unions within China.
E) The market of China provides enormous opportunity for foreign companies because it has been emerging as one of the most economically powerful nations in the world in recent years.
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Chapter 7: Corruption and Ethics in Global Business
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Q1) The five fundamentals of ethics education proposed by AACSB are: personal integrity, responsibility of business in society, ethical decision making, ethical leadership, and corporate governance.
A)True
B)False
Q2) Of the following, which is NOT a mandate that companies with corporate social responsibility strive to do?
A) Provide a quality product or service to its customers
B) Treat its employees with dignity and respect
C) Do whatever it takes to be profitable
D) Meet its legal obligations
E) Fairly deal with suppliers
Q3) _____ 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
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Chapter 8: Entry Strategies in Global Business
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Q1) _____ advantages are internal to the firm that can be transferred at a very low cost within a MNE regardless of location.
A) Ownership, or firm specific
B) Locational, or country-specific
C) Internalization
D) Externalized
E) Environmental
Q2) Mexico consistently has been the world's largest recipient of FDI capital in the world averaging some $200 billion a year in net FDI inflows since 2005. Mexico has been made more globally competitive as a consequence of such FDI flows.
A)True
B)False
Q3) A major reason why growth-oriented MNEs establish operations abroad is to diversify and minimize risk so that overall corporate cash flows and earnings will be relatively stable.
A)True
B)False
Q4) Differentiate between strategic alliances and international joint ventures.
Q5) Briefly describe Dunning's Eclectic Theory of Foreign Direct Investment.
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Chapter 9: Control of Global Business
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Q1) A(n)_____ plan for Wal-Mart might be to build and open a textile manufacturing plant in China within the next two-and-one-half years.
A) reactionary
B) standing
C) strategic
D) tactical
E) operational
Q2) Many times, organizational change in a business is most effective when pushed from the top by the company's middle-level managers.
A)True
B)False
Q3) The ______ model of strategy formulation model that believes that businesses exist to benefit not just their shareholders, but also all the various groups such as employees and customers that have a meaningful stake in their operation.
Q4) Describe the importance of mission in an organization's strategy making process.
Q5) Describe Miles' and Snow's four basic types of longer-term strategic implementation for global businesses. Provide an example of each.
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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Q1) A market structure is a particular kind of divisional structure that groups products into separate divisions according to the needs of different customers.
A)True
B)False
Q2) Any combination of different organizational structures is generally referred to as a
Q3) Which of the following structure type best identifies the structure Mirkhani Mining Supplies would be using if it grouped its products and services into separate divisions based on the needs of different areas served by the company?
A) Matrix structure
B) Hybrid structure
C) Globalized structure
D) Market structure
E) Geographical region structure
Q4) A market structure is also called area structure.
A)True
B)False
Q5) How are hybrid structures different from matrix structures? Explain.
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Chapter 11: Global Human Resource Management
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Q1) Hofstede identified five major dimensions of national culture as they apply to human resource management throughout the world: power distance, uncertainty avoidance, individualism vs. collectivism, introversion vs. extroversion, and masculinity vs. femininity.
A)True
B)False
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) _____ involves the process of transferring an organizational function to another country whether outsourced or not.
Q4) Discuss the role labor union play in global human resource management. Does the impact unions have vary in different countries? Explain.
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Chapter 12: Global Marketing
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Q1) _____ is the step in the new product development process in which projections of potential revenues and profits for a potential new product are made.
Q2) Bridgemont takes great pride in the expertise of its customer service staff. Which one of the following is least likely to be an attribute demonstrated by this company's customer service department?
A) Arranging for on-time deliveries
B) Avoid call-back when problems arise
C) Warranty explanation
D) Honest and reliable installation and service
E) Accurate shipments
Q3) International marketing managers have four main methods of promoting products and services in international markets: advertising, personal selling, sales promotion, and distribution.
A)True
B)False
Q4) _____ is the total number of units of a product that could possibly be sold by all companies doing business in a specific international market.
Q5) _______ is the price a company charges its overseas subsidiaries.
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Chapter 13: Global Operations and Supply-Chain Management
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Q1) All activities performed typically by business organizations such as suppliers, manufacturers, distributors, and retailer that involve the flow and transformation of goods and services is referred to as a supply chain.
A)True
B)False
Q2) Most of the activities in operations management can be grouped into ____ business functions.
A) two
B) three
C) four
D) five
E) six
Q3) __________ refers to the management of all activities in the supply chain, in order to minimize the total cost of the supply chain, and to maximize the value of the product to the end user.
Q4) __________ occurs when components and raw materials are produced in-house and purchased from suppliers.
Q5) __________ refers to a property of ERP systems to handle multiple currencies.
Q6) The sites where production takes place are called __________.
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Chapter 14: Global Financial Management
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Q1) _____ refers to a group of banks that collectively make a loan to a firm.
Q2) A simple agreement wherein the exporter sends an invoice with the goods and the exporter pays upon the receipt is called a(n)_____.
A) open account
B) commercial letter of credit
C) banker's acceptance
D) syndicate
E) bond rating
Q3) When a bank sells a LC into the financial marketplace as a money market instrument, it is called a(n)_____.
A) payment in advance
B) commercial letter of credit
C) banker's acceptance
D) syndicate
E) bond rating
Q4) Standardized agreements to buy or sell a specified amount of currency at a date in the future at a pre-determined price are called _________.
Q5) ______ refers to an investor's right to buy an asset at a pre-determined price.
Q6) Derivatives market run by large banks refers to _____.
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Chapter 15: Accounting and Taxation in Global Business
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Q1) Conducting business in a tax haven means that there are no taxes whatsoever.
A)True
B)False
Q2) The last step of an audit typically is to _____.
A) communicate audit results
B) arrive at audit opinion
C) plan the audit
D) obtain and evaluate evidence
E) brainstorm ideas for the audit
Q3) The first step of an audit typically is to _____.
A) communicate audit results
B) arrive at audit opinion
C) plan the audit
D) obtain and evaluate evidence
E) brainstorm ideas for the audit
Q4) _______ refers to the component of the accounting information system that provides financial information needed by external users such as investors and lenders.
Q5) ______ is the recording, summarizing, and reporting of the economic activities and events of an organization.
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