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Business Goals and Objectives Quiz

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Questions and Answers

Which factor does NOT influence international demand for a foreign good or service?

Technological advancements (correct)

Income levels

Government policies and regulations

Consumer tastes and preferences

What is an example of a vehicle that companies use to do business in other countries?

Exports (correct)

Government regulations

Income levels

Consumer preferences

What do licensing arrangements involve?

Allowing another company to use intellectual property (correct)

Hiring independent agents

Selling products under a different brand name

Establishing joint ventures

Which one of these best describes branch offices?

Separate entities from the company located in a different geographic location than the headquarters Signup and view all the answers

What are strategic alliances?

Partnerships between two or more companies that agree to work together to achieve specific goals Signup and view all the answers

What is foreign direct investment (FDI)?

When a company invests in a business in a different country Signup and view all the answers

Study Notes

International Business

Exchange rates, inflation rates, and interest rates influence international demand for a foreign good or service, but distance does NOT.

Modes of Entry into International Markets

A joint venture is an example of a vehicle that companies use to do business in other countries.

Licensing Arrangements

Licensing arrangements involve a firm granting permission to another firm in a different country to manufacture or sell its products.

Branch Offices

Branch offices are a type of foreign operation that is established and controlled by a parent company in another country, and operate as an extension of the parent company.

Strategic Alliances

Strategic alliances refer to cooperative agreements between firms, which can take the form of joint ventures, licensing arrangements, or partnerships, in order to achieve common goals.

Foreign Direct Investment (FDI)

Foreign direct investment (FDI) occurs when a firm invests in and controls a business in another country, such as by building a factory or acquiring a company.

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Description

Test your knowledge on business goals and objectives with this quiz! Learn about long-term and intermediate business goals and understand how they contribute to a company's success. Challenge yourself and see how well you understand the importance of setting strategic targets for businesses.