Podcast
Questions and Answers
What type of agreement centered around the creation of a free-trade area among the United States, Canada, and Mexico?
What type of agreement centered around the creation of a free-trade area among the United States, Canada, and Mexico?
- COMESA
- NAFTA (correct)
- GATT
- EU
Which option is primarily a method for international business that involves production based on a contract, allowing the manufacturer to produce without owning the brand?
Which option is primarily a method for international business that involves production based on a contract, allowing the manufacturer to produce without owning the brand?
- Franchising
- Licensing
- Contract Manufacturing (correct)
- Exporting
In which international trade mechanism does a company permit another party to produce and sell its products under its brand in exchange for compensation?
In which international trade mechanism does a company permit another party to produce and sell its products under its brand in exchange for compensation?
- Joint Venture
- Exporting
- Licensing (correct)
- Franchising
What is the primary intention of the NAFTA agreement?
What is the primary intention of the NAFTA agreement?
Which of these is NOT considered a form of international business strategy?
Which of these is NOT considered a form of international business strategy?
What is the most appropriate term for giving employees the authority to make decisions in their roles?
What is the most appropriate term for giving employees the authority to make decisions in their roles?
Which of the following best describes the action of increasing the responsibilities of workers?
Which of the following best describes the action of increasing the responsibilities of workers?
Which term relates to the idea of promoting fair representation in the workplace?
Which term relates to the idea of promoting fair representation in the workplace?
What outcome can result from effective employee empowerment?
What outcome can result from effective employee empowerment?
What is NOT a direct benefit of implementing employee responsibilities?
What is NOT a direct benefit of implementing employee responsibilities?
What is one of the consumer rights associated with financial transactions?
What is one of the consumer rights associated with financial transactions?
Which consumer right emphasizes the ability to make choices among products and services?
Which consumer right emphasizes the ability to make choices among products and services?
Which right focuses on consumers having a voice in the decisions that affect them?
Which right focuses on consumers having a voice in the decisions that affect them?
How can businesses fulfill their obligation of corporate responsibility toward stakeholders?
How can businesses fulfill their obligation of corporate responsibility toward stakeholders?
Which of the following rights directly relates to consumer protection in terms of their safety?
Which of the following rights directly relates to consumer protection in terms of their safety?
What is likely the reason David is unable to send documents to the neighboring company?
What is likely the reason David is unable to send documents to the neighboring company?
If David had completed his meeting earlier, which action would he have been able to do?
If David had completed his meeting earlier, which action would he have been able to do?
Which of the following best describes David's situation?
Which of the following best describes David's situation?
What does a high degree of centralization in a company typically emphasize?
What does a high degree of centralization in a company typically emphasize?
What could David potentially do to manage both his meeting and sending documents?
What could David potentially do to manage both his meeting and sending documents?
How does UPS ensure effective service delivery?
How does UPS ensure effective service delivery?
Why is it important for David to send documents to the neighboring company?
Why is it important for David to send documents to the neighboring company?
Which of the following is a characteristic of centralized organizations?
Which of the following is a characteristic of centralized organizations?
What is likely the outcome of strict decision guidelines in an organization?
What is likely the outcome of strict decision guidelines in an organization?
Which management approach would likely hinder employee decision-making?
Which management approach would likely hinder employee decision-making?
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Study Notes
Business Questions
- Providing training and greater responsibility to workers is a form of empowerment.
- Franchising is a business arrangement where a company grants another company the right to sell its products or services under its brand.
- Licensing is an agreement where a company grants another company the right to use its intellectual property, such as a patent, trademark, or copyright.
- The North American Free Trade Agreement (NAFTA) is an agreement that created a free-trade area among the United States, Canada, and Mexico.
- Businesses demonstrate corporate responsibility toward stakeholders by staffing and promotion based on qualifications.
- Organizational structure refers to the arrangement of jobs, departments, and reporting relationships within an organization.
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