Benefits of Internationalization for Companies Quiz

Trade and investment activities across national borders

International business involves operations across national borders, while domestic business operates within a single country.

Firms engaging in trade and investment activities across borders.

<p>To access new markets, resources, and opportunities for growth.</p> Signup and view all the answers

<p>Globalization, technological advancements, and changing consumer preferences.</p> Signup and view all the answers

<p>Theory of Comparative Advantage, Theory of Absolute Advantage, and Internalization Theory.</p> Signup and view all the answers

<p>Facilitator of the global economy and interconnectedness</p> Signup and view all the answers

<p>IB provides companies with competitive advantages, leading to profitability.</p> Signup and view all the answers

<p>End of lifetime employment and reluctance of employers to invest in staff training.</p> Signup and view all the answers

<p>Hard skills are technical expertise specific to a job, while soft skills are interpersonal and transferrable across jobs.</p> Signup and view all the answers

<p>Due to the identified skills gap between skills employers require and skills graduates possess.</p> Signup and view all the answers

<p>IB fuels economic growth, leading to rising living standards.</p> Signup and view all the answers

<p>Potential benefits include higher growth rates, profit margins in emerging markets, economies of scale, cost reduction, market diversification, risk reduction, and gaining competitive advantage.</p> Signup and view all the answers

<p>By covering fixed costs over a larger number of sales, additional sales from abroad can help reduce per-unit costs for a company.</p> Signup and view all the answers

<p>Companies internationalize to gain new ideas about products, services, and business methods, diversify their markets, reduce risks, and strengthen their competitive positions.</p> Signup and view all the answers

<p>International business can help companies in strengthening their competitive position by following key customers abroad, gaining competitive knowledge about rivals, and entering new markets.</p> Signup and view all the answers

<p>Studying international business can help individuals gain knowledge about global markets, understand the benefits of internationalization, learn about diverse business practices, and prepare for a competitive business environment.</p> Signup and view all the answers

<p>The diversity of employees and operations can bring new perspectives, ideas, and insights to companies, enabling them to adapt to different markets and improve their innovation.</p> Signup and view all the answers