20 Questions
What is the main focus of international business?
Conducting business across national borders
Why is international experience considered valuable by CEOs?
It helps in developing international skills and entrepreneurial qualities
What does foreign experience reflect according to the text?
Resourcefulness and entrepreneurship
Why do company executives consider China Starbucks' No. 1 growth market?
As part of Starbucks' strategy to expand globally
What do uncontrollable forces refer to in the context of international business?
Forces that management has no direct control over
Which of the following is NOT listed as an external force influencing international business?
Internal
What type of forces does management have the ability to administer in international business?
Controllable forces
How can changes in external forces impact controllable forces in international business?
They can affect all controllable forces of firms
What is defined as all the uncontrollable forces originating in the home country that surround and influence the life and development of the firm?
The Domestic Environment
Why do forces in the foreign environment operate differently than forces in the domestic environment?
Due to having different values
What does the International Environment include interactions between?
Domestic and foreign environmental forces
Why is decision making more complex in the international market according to the text?
Interactions between domestic and foreign forces are simpler
What are some factors that may lead companies to consider nations other than their home country?
Increasing GDP per capita
Why do some businesses choose to go national according to the text?
To distract competitors in home markets
What is a key argument for globalization according to the text?
Enhancing labor and capital integration
How can going abroad help lower costs for businesses?
Reduce inventory costs
What concept describes the unconscious reference to one's own cultural values when judging behaviors of others in a new and different environment?
Self-reference criterion
What are the three choices international managers have in deciding what to do with a concept or technique employed in domestic operations?
Transfer it intact, adapt it to local conditions, or not use it overseas
In the history of international business, which group traded abroad well before the time of Christ?
Phoenician and Greek merchants
What stimulated the emergence of an internationally integrated trading system according to the text?
Expansion of agricultural and industrial production in China
Test your knowledge on the domestic and foreign environments in international business. Identify the uncontrollable forces that influence a firm's operations within and outside its home country.
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