Podcast
Questions and Answers
What is the key word used to describe the basic economic problem that all societies face?
What is the key word used to describe the basic economic problem that all societies face?
- Scarcity (correct)
- Proficiency
- Abundance
- Excess
In the PEST framework for environmental analysis, what does the 'E' stand for?
In the PEST framework for environmental analysis, what does the 'E' stand for?
- Economic (correct)
- Exponential
- Environmental
- Ethical
What does the term 'third sector' refer to?
What does the term 'third sector' refer to?
- Voluntary sector (correct)
- Public sector
- Profit sector
- Private sector
What is Political/Country Risk defined as?
What is Political/Country Risk defined as?
What is the role of the political system?
What is the role of the political system?
What does a two-party system entail?
What does a two-party system entail?
What is meant by 'Civil Society'?
What is meant by 'Civil Society'?
What is the average lifespan of a strategic alliance?
What is the average lifespan of a strategic alliance?
What does strategic control refer to?
What does strategic control refer to?
According to Michael Porter, what is the most important determinant of a firm’s profitability?
According to Michael Porter, what is the most important determinant of a firm’s profitability?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What does trust between alliance partners lead to?
What does trust between alliance partners lead to?
What does strategic group analysis involve?
What does strategic group analysis involve?
What does the 5 forces model analyze?
What does the 5 forces model analyze?
What do mobility barriers prevent?
What do mobility barriers prevent?
What facilitates globalization according to the text?
What facilitates globalization according to the text?
Who are stakeholders according to the text?
Who are stakeholders according to the text?
What can hinder potential newcomers from entering a market according to the text?
What can hinder potential newcomers from entering a market according to the text?
Why do strategic alliances between large Western MNFs and emerging economy firms often fail according to the text?
Why do strategic alliances between large Western MNFs and emerging economy firms often fail according to the text?
What does Operational Risk refer to?
What does Operational Risk refer to?
Which legal systems are mentioned in the text?
Which legal systems are mentioned in the text?
What does Transfer risk involve?
What does Transfer risk involve?
What are the sources of Political risk mentioned in the text?
What are the sources of Political risk mentioned in the text?
What does Systematic Risk arise from?
What does Systematic Risk arise from?
What does Strategic Management involve?
What does Strategic Management involve?
Which companies are mentioned as global strategy examples?
Which companies are mentioned as global strategy examples?
What are the industry globalizing factors mentioned in the text?
What are the industry globalizing factors mentioned in the text?
What are the drivers of Porter's Diamond model?
What are the drivers of Porter's Diamond model?
What are examples of strategic alliances mentioned in the text?
What are examples of strategic alliances mentioned in the text?
What does First mover advantage include?
What does First mover advantage include?
What does the Uppsala model help understand?
What does the Uppsala model help understand?
What is the key word used to describe the basic economic problem that all societies face?
What is the key word used to describe the basic economic problem that all societies face?
In the PEST framework for environmental analysis, what does the 'E' stand for?
In the PEST framework for environmental analysis, what does the 'E' stand for?
What does the term 'third sector' refer to?
What does the term 'third sector' refer to?
What is the main role of the political system as mentioned in the text?
What is the main role of the political system as mentioned in the text?
What does Civil Society indicate according to the text?
What does Civil Society indicate according to the text?
What does Ownership risk entail according to the text?
What does Ownership risk entail according to the text?
What characterizes a Multi-party system based on the text?
What characterizes a Multi-party system based on the text?
What does the Uppsala model help understand?
What does the Uppsala model help understand?
What does Transfer risk involve?
What does Transfer risk involve?
What is Political/Country Risk defined as?
What is Political/Country Risk defined as?
What does Strategic Management involve?
What does Strategic Management involve?
What are the sources of Political risk mentioned in the text?
What are the sources of Political risk mentioned in the text?
What does Operational Risk refer to?
What does Operational Risk refer to?
What are the drivers of Porter's Diamond model?
What are the drivers of Porter's Diamond model?
What does First mover advantage include?
What does First mover advantage include?
Which legal systems are mentioned in the text?
Which legal systems are mentioned in the text?
What does the term 'Civil Society' refer to?
What does the term 'Civil Society' refer to?
What facilitates globalization according to the text?
What facilitates globalization according to the text?
What does trust between alliance partners lead to?
What does trust between alliance partners lead to?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What is the most important determinant of a firm’s profitability according to Michael Porter?
What is the most important determinant of a firm’s profitability according to Michael Porter?
What does the 5 forces model analyze?
What does the 5 forces model analyze?
What is the average lifespan of a strategic alliance?
What is the average lifespan of a strategic alliance?
What does strategic group analysis involve?
What does strategic group analysis involve?
What do mobility barriers prevent?
What do mobility barriers prevent?
What facilitates globalization according to the text?
What facilitates globalization according to the text?
What is meant by 'Stakeholders'?
What is meant by 'Stakeholders'?
What does strategic control refer to?
What does strategic control refer to?
What does the term 'Globalization' entail according to the text?
What does the term 'Globalization' entail according to the text?
What does the Uppsala model help understand?
What does the Uppsala model help understand?
What does trust between alliance partners lead to?
What does trust between alliance partners lead to?
What is the main role of the political system as mentioned in the text?
What is the main role of the political system as mentioned in the text?
What does the term 'Civil Society' refer to?
What does the term 'Civil Society' refer to?
What does Systematic Risk arise from?
What does Systematic Risk arise from?
What is the key role of Civil Society as mentioned in the text?
What is the key role of Civil Society as mentioned in the text?
What does a Multi-party system entail based on the text?
What does a Multi-party system entail based on the text?
What does Ownership risk entail according to the text?
What does Ownership risk entail according to the text?
What is Political/Country Risk defined as based on the text?
What is Political/Country Risk defined as based on the text?
What is the primary focus of Operational Risk?
What is the primary focus of Operational Risk?
Which of the following is an example of a legal system mentioned in the text?
Which of the following is an example of a legal system mentioned in the text?
What does Transfer risk involve?
What does Transfer risk involve?
What are the sources of Political risk mentioned in the text?
What are the sources of Political risk mentioned in the text?
What does Systematic Risk arise from?
What does Systematic Risk arise from?
Which of the following is an example of a global strategy mentioned in the text?
Which of the following is an example of a global strategy mentioned in the text?
What are the industry globalizing factors mentioned in the text?
What are the industry globalizing factors mentioned in the text?
What do Porter's Diamond model drivers include?
What do Porter's Diamond model drivers include?
What are examples of strategic alliances mentioned in the text?
What are examples of strategic alliances mentioned in the text?
What does First mover advantage include?
What does First mover advantage include?
What does the Uppsala model help understand?
What does the Uppsala model help understand?
What does Strategic Management involve?
What does Strategic Management involve?
What is the average lifespan of a strategic alliance?
What is the average lifespan of a strategic alliance?
According to Michael Porter, what is the most important determinant of a firm’s profitability?
According to Michael Porter, what is the most important determinant of a firm’s profitability?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What does the international product life cycle suggest about a developed country's product export/import cycle?
What does the 5 forces model analyze?
What does the 5 forces model analyze?
What is the role of trust between alliance partners?
What is the role of trust between alliance partners?
What are mobility barriers designed to prevent?
What are mobility barriers designed to prevent?
What facilitates globalization according to the text?
What facilitates globalization according to the text?
What does the term 'stakeholders' refer to?
What does the term 'stakeholders' refer to?
What does strategic control refer to?
What does strategic control refer to?
What does the term 'globalization' entail according to the text?
What does the term 'globalization' entail according to the text?
What does the term 'strategic group analysis' involve?
What does the term 'strategic group analysis' involve?
What does the term 'barriers to entry' hinder in the market?
What does the term 'barriers to entry' hinder in the market?
Study Notes
International Business and Risk Management
- Operational Risk refers to changes in rules, like arbitrary tax system changes, affecting business operations
- Legal systems include Common law (UK, USA), Civil law (Europe), and Theocratic law (Iran, Saudi Arabia)
- Transfer risk involves impediments to factors of production transfer, such as capital
- Political risk sources include systematic, procedural, distributive, and catastrophic factors
- Systematic Risk arises from shifts in public policy, like changes in political leadership
- Strategic Management involves setting long-term direction for an organization
- Global strategy examples include IKEA and Walmart's withdrawal from Germany
- Four industry globalizing factors are market, cost, government, and competitive factors
- Porter's Diamond model drivers include local factor and demand conditions, related industries, and firm strategy
- Strategic alliances examples include joint marketing campaigns, cooperative product development, and joint ventures
- First mover advantage includes building strong market share and setting market standards
- Uppsala model helps understand a firm’s initial choice of international location and mode of entry into foreign markets
Global Business Management Key Points
- Strategic alliances between large Western MNFs and emerging economy firms often fail due to divergent partner objectives.
- Strategic control refers to control over the means and methods on which the whole conduct of an organization depends.
- The average lifespan of a strategic alliance is about 7 years.
- Trust between alliance partners makes them more willing to share information.
- Strategic group analysis involves identifying firms with similar strategies or competing bases.
- Mobility barriers prevent other firms from entering the strategic group and threatening existing members.
- Michael Porter argues that the most important determinant of a firm’s profitability is industry attractiveness.
- The 5 forces model can be used to analyze a firm’s competitive position in a specific market segment or similar market segments.
- Barriers to entry, such as economies of scale, production differentiation, and expected retaliation, can hinder potential newcomers from entering a market.
- The international product life cycle suggests that a developed country initially exports, loses its expected markets, and then becomes an importer of the product from developing countries.
- Globalization is facilitated by improvements in communication, looser immigration laws, and the removal of controls on movement of capital across borders.
- Stakeholders are individuals, groups, or organizations that are affected by or can affect the activities of a business.
Global Business Management Key Points
- Strategic alliances between large Western MNFs and emerging economy firms often fail due to divergent partner objectives.
- Strategic control refers to control over the means and methods on which the whole conduct of an organization depends.
- The average lifespan of a strategic alliance is about 7 years.
- Trust between alliance partners makes them more willing to share information.
- Strategic group analysis involves identifying firms with similar strategies or competing bases.
- Mobility barriers prevent other firms from entering the strategic group and threatening existing members.
- Michael Porter argues that the most important determinant of a firm’s profitability is industry attractiveness.
- The 5 forces model can be used to analyze a firm’s competitive position in a specific market segment or similar market segments.
- Barriers to entry, such as economies of scale, production differentiation, and expected retaliation, can hinder potential newcomers from entering a market.
- The international product life cycle suggests that a developed country initially exports, loses its expected markets, and then becomes an importer of the product from developing countries.
- Globalization is facilitated by improvements in communication, looser immigration laws, and the removal of controls on movement of capital across borders.
- Stakeholders are individuals, groups, or organizations that are affected by or can affect the activities of a business.
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Description
Test your knowledge of international business and risk management with this quiz. Explore topics such as operational risk, legal systems, transfer risk, political risk, strategic management, global strategy, industry globalizing factors, Porter's Diamond model, strategic alliances, first mover advantage, and the Uppsala model. Whether you're a student or a professional, this quiz will challenge your understanding of key concepts in the field.
