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International Business: Entry Modes

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Questions and Answers

What is the primary purpose of an entry mode?

To implement a product market strategy (correct)

To establish a production facility in a foreign country

To form a joint venture with a local partner

To export products to a new market

What is an example of an export mode?

Establishing a wholly owned subsidiary

Forming a joint venture with a local partner

Entering into a contractual agreement with a supplier

Carrying out only the marketing operation (correct)

What is a characteristic of contractual modes?

The firm partners with others to produce and market products (correct)

The firm exports products to a new market without any local presence

The firm only markets products in a foreign country

The firm has full control over the production and marketing process

What type of entry mode involves the establishment of a production facility in a foreign country?

<p>Wholly owned operation</p> Signup and view all the answers

What is a common feature of joint ventures and wholly owned operations?

<p>The firm has full control over the production and marketing process</p> Signup and view all the answers

Study Notes

Entry Mode

An entry mode is a structural agreement that allows a firm to implement its product market strategy.
It enables a firm to choose between two options:
Carrying out only the marketing operation (export modes).
Handling both production and marketing by itself or in partnership with others (contractual modes, joint ventures, wholly owned operations).

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Description

This quiz assesses your understanding of entry modes in international business, including export modes and contractual modes such as joint ventures and wholly owned operations.