International Business and Finance Quiz

International Business and Finance: Understanding the Scope and Types

International Business:

• Refers to any type of business activity that crosses national borders.
• Involves buying and/or selling goods and services across two or more national boundaries.
• Focuses on the problems and opportunities that emerge since the firm is operating in more than one country.
• Benefits include survival, growth of overseas markets, sales and profit, diversification, inflation and price moderation, employment, and standards of living.
• Difficulties include political and legal differences, cultural differences, economic differences, differences in the currency unit, language, marketing infrastructure, trade restrictions, high costs of distance, and differences in trade practices.
• Environmental analysis and diagnosis are crucial processes to monitor the economic, governmental/legal, market/competitive, supplier/technological, geographic, and social settings.
• Environmental diagnosis consists of managerial decisions made by analyzing the significance of the data (opportunities and threats) of the environmental analysis.

Finance:

• Encompasses money management, the process of acquiring needed funds, and the oversight, creation, and study of financial systems.
• Types include personal finance, corporate finance, public finance, small business finance, international finance, and global finance.
• Personal finance refers to the basic principles of finance applied to the monetary decisions of an individual consumer or investor.
• Components of personal finance include checking and savings accounts, investments, credit cards and consumer loans, social security benefits, income tax management, insurance policies, and retirement plan management.
• Key components of personal finance include assessment, establishing goals, establishing a plan, executing the plan, and monitoring the plan.
• Corporate finance deals with financial decisions that a business enterprise must evaluate and subsequently affirm, including financing, capital structure, and money management to help maximize returns and shareholder value.
• Public finance includes tax, spending, budgeting, and debt issuance policies that affect how a government pays for the services it provides to the public.

International Business and Finance: Understanding the Scope and Types

International Business:

• Refers to any type of business activity that crosses national borders.
• Involves buying and/or selling goods and services across two or more national boundaries.
• Focuses on the problems and opportunities that emerge since the firm is operating in more than one country.
• Benefits include survival, growth of overseas markets, sales and profit, diversification, inflation and price moderation, employment, and standards of living.
• Difficulties include political and legal differences, cultural differences, economic differences, differences in the currency unit, language, marketing infrastructure, trade restrictions, high costs of distance, and differences in trade practices.
• Environmental analysis and diagnosis are crucial processes to monitor the economic, governmental/legal, market/competitive, supplier/technological, geographic, and social settings.
• Environmental diagnosis consists of managerial decisions made by analyzing the significance of the data (opportunities and threats) of the environmental analysis.

Finance:

• Encompasses money management, the process of acquiring needed funds, and the oversight, creation, and study of financial systems.
• Types include personal finance, corporate finance, public finance, small business finance, international finance, and global finance.
• Personal finance refers to the basic principles of finance applied to the monetary decisions of an individual consumer or investor.
• Components of personal finance include checking and savings accounts, investments, credit cards and consumer loans, social security benefits, income tax management, insurance policies, and retirement plan management.
• Key components of personal finance include assessment, establishing goals, establishing a plan, executing the plan, and monitoring the plan.
• Corporate finance deals with financial decisions that a business enterprise must evaluate and subsequently affirm, including financing, capital structure, and money management to help maximize returns and shareholder value.
• Public finance includes tax, spending, budgeting, and debt issuance policies that affect how a government pays for the services it provides to the public.

International Business and Finance: Understanding the Scope and Types

International Business:

• Refers to any type of business activity that crosses national borders.
• Involves buying and/or selling goods and services across two or more national boundaries.
• Focuses on the problems and opportunities that emerge since the firm is operating in more than one country.
• Benefits include survival, growth of overseas markets, sales and profit, diversification, inflation and price moderation, employment, and standards of living.
• Difficulties include political and legal differences, cultural differences, economic differences, differences in the currency unit, language, marketing infrastructure, trade restrictions, high costs of distance, and differences in trade practices.
• Environmental analysis and diagnosis are crucial processes to monitor the economic, governmental/legal, market/competitive, supplier/technological, geographic, and social settings.
• Environmental diagnosis consists of managerial decisions made by analyzing the significance of the data (opportunities and threats) of the environmental analysis.

Finance:

• Encompasses money management, the process of acquiring needed funds, and the oversight, creation, and study of financial systems.
• Types include personal finance, corporate finance, public finance, small business finance, international finance, and global finance.
• Personal finance refers to the basic principles of finance applied to the monetary decisions of an individual consumer or investor.
• Components of personal finance include checking and savings accounts, investments, credit cards and consumer loans, social security benefits, income tax management, insurance policies, and retirement plan management.
• Key components of personal finance include assessment, establishing goals, establishing a plan, executing the plan, and monitoring the plan.
• Corporate finance deals with financial decisions that a business enterprise must evaluate and subsequently affirm, including financing, capital structure, and money management to help maximize returns and shareholder value.
• Public finance includes tax, spending, budgeting, and debt issuance policies that affect how a government pays for the services it provides to the public.