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International Business Fundamentals

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Questions and Answers

What is the primary objective of international business?

To establish a boundaryless organization

To liberalize rules and regulations

To expand business functions within domestic markets

To fulfill the needs and wants of international customers (correct)

What is happening to the world boundaries over time?

They are remaining the same

They are disappearing completely

They are becoming thicker and more rigid

They are getting thinner and thinner (correct)

What is international business defined as, according to the International Business Journal?

A commercial enterprise that operates solely within its location

A commercial enterprise that performs economical activity beyond its location and has branches in two or more foreign countries (correct)

The exchange of goods and services between two or more countries

A boundaryless organization that operates globally

What is driving the expansion of business functions into international markets?

The increasing needs and wants of international customers Signup and view all the answers

Who is quoted as saying that the world is a boundaryless organization?

Jack Welch, former CEO of General Electric Signup and view all the answers

What is exchanged among individuals and businesses in international business?

Goods, services, resources, knowledge, and skills Signup and view all the answers

What is the primary reason for complications in international business?

Cultural differences between countries Signup and view all the answers

What is the characteristic of international business that makes it bound by numerous rules and regulations?

It involves economic activity between two or more countries Signup and view all the answers

What is the name of the company that is credited with starting international business in India?

East India Company Signup and view all the answers

What were the two major events that led to a slowdown in international business?

World War 1 and World War 2 Signup and view all the answers

What is the definition of international business?

Economic activity between two or more countries Signup and view all the answers

What is the reason why international business is not as simple as it seems?

Differences in cultural and political aspects Signup and view all the answers