International Business Management Quiz

International Business Management Lecture Notes

• International Business involves commercial transactions between parties in two or more countries, including the transfer of goods, services, technology, and capital.

• Multinational Enterprises (MNEs) have a global approach to foreign markets and production, encompassing both domestic and international markets.

• International Management involves effectively coordinating the procurement, allocation, and utilization of resources within and across national boundaries.

• International Trade refers to when a firm exports goods or services to consumers in another country, while Foreign Direct Investment refers to when a firm invests resources in a foreign business.

• The international business is directly linked to globalization, which is driven by factors such as technology, market differences, high product development costs, and political issues.

• The evolution of international business has gone through phases, starting with the Industrial Revolution and culminating in a global mode of operation.

• Approaches to international business include Ethnocentric, Regiocentric, Polycentric, Geocentric, and various types of investments and partnerships.

• The goals of international business include expanding production capacity, severe competition in the home country, and limited home market.

• Advantages of international business include product flexibility, less competition, protection from national trends and events, learning new methods, and economic benefits.

• Economic benefits of international trade include increased socio-economic welfare, wider market, reduced effects of business cycles, and high living standards.

• The international business environment can be classified as domestic, foreign, and international spheres of impact, with factors such as political risks, legal systems, and cultural differences influencing it.

• Multiculturalism is essential for every international firm, and managing diversity is crucial for compatibility between strategy and culture.

• Protectionism and trade liberalization are two opposing forces in international business, with trade liberalization being the removal of trade practices that thwart free flow of goods and services from one nation to another.International Business Management: Strategic Planning, Organizational Design, Control, Performance, Conflict Management, and Ethics

• Strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives.

• Geographic, cultural, and national differences pose challenges for international strategic management.

• The framework for international strategic management consists of five phases of planning and analysis.

• Standardization and differentiation are two approaches to global marketing.

• Strategic options include global, international, trans-national, and multi-domestic strategies.

• Factors affecting strategic options include external constraints, intra-organizational forces, values, preferences, impact, past strategy constraints, information constraints, and competitors' reactions.

• Global portfolio investment involves purchasing stocks, bonds, and money market instruments by foreigners for financial return.

• Factors affecting global portfolio investment include tax rates, interest rates, and exchange rates.

• Global entry strategies include exporting, licensing, franchising, contract manufacturing, turnkey projects, and management contracts.

• Organizational structure defines how activities are directed towards achieving organizational aims and includes types such as international, functional, product, geographic, matrix, and mixed structures.

• Control systems in international business involve strategic, organizational, and operational control and can use personal, bureaucratic, output, and cultural controls.

• Ethical issues in international business involve employment practices, human rights, environmental pollution, corruption, moral obligations, and ethical dilemmas.

International Business Management Lecture Notes

• International Business involves commercial transactions between parties in two or more countries, including the transfer of goods, services, technology, and capital.

• Multinational Enterprises (MNEs) have a global approach to foreign markets and production, encompassing both domestic and international markets.

• International Management involves effectively coordinating the procurement, allocation, and utilization of resources within and across national boundaries.

• International Trade refers to when a firm exports goods or services to consumers in another country, while Foreign Direct Investment refers to when a firm invests resources in a foreign business.

• The international business is directly linked to globalization, which is driven by factors such as technology, market differences, high product development costs, and political issues.

• The evolution of international business has gone through phases, starting with the Industrial Revolution and culminating in a global mode of operation.

• Approaches to international business include Ethnocentric, Regiocentric, Polycentric, Geocentric, and various types of investments and partnerships.

• The goals of international business include expanding production capacity, severe competition in the home country, and limited home market.

• Advantages of international business include product flexibility, less competition, protection from national trends and events, learning new methods, and economic benefits.

• Economic benefits of international trade include increased socio-economic welfare, wider market, reduced effects of business cycles, and high living standards.

• The international business environment can be classified as domestic, foreign, and international spheres of impact, with factors such as political risks, legal systems, and cultural differences influencing it.

• Multiculturalism is essential for every international firm, and managing diversity is crucial for compatibility between strategy and culture.

• Protectionism and trade liberalization are two opposing forces in international business, with trade liberalization being the removal of trade practices that thwart free flow of goods and services from one nation to another.International Business Management: Strategic Planning, Organizational Design, Control, Performance, Conflict Management, and Ethics

• Strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives.

• Geographic, cultural, and national differences pose challenges for international strategic management.

• The framework for international strategic management consists of five phases of planning and analysis.

• Standardization and differentiation are two approaches to global marketing.

• Strategic options include global, international, trans-national, and multi-domestic strategies.

• Factors affecting strategic options include external constraints, intra-organizational forces, values, preferences, impact, past strategy constraints, information constraints, and competitors' reactions.

• Global portfolio investment involves purchasing stocks, bonds, and money market instruments by foreigners for financial return.

• Factors affecting global portfolio investment include tax rates, interest rates, and exchange rates.

• Global entry strategies include exporting, licensing, franchising, contract manufacturing, turnkey projects, and management contracts.

• Organizational structure defines how activities are directed towards achieving organizational aims and includes types such as international, functional, product, geographic, matrix, and mixed structures.

• Control systems in international business involve strategic, organizational, and operational control and can use personal, bureaucratic, output, and cultural controls.

• Ethical issues in international business involve employment practices, human rights, environmental pollution, corruption, moral obligations, and ethical dilemmas.

International Business Management Lecture Notes

• International Business involves commercial transactions between parties in two or more countries, including the transfer of goods, services, technology, and capital.

• Multinational Enterprises (MNEs) have a global approach to foreign markets and production, encompassing both domestic and international markets.

• International Management involves effectively coordinating the procurement, allocation, and utilization of resources within and across national boundaries.

• International Trade refers to when a firm exports goods or services to consumers in another country, while Foreign Direct Investment refers to when a firm invests resources in a foreign business.

• The international business is directly linked to globalization, which is driven by factors such as technology, market differences, high product development costs, and political issues.

• The evolution of international business has gone through phases, starting with the Industrial Revolution and culminating in a global mode of operation.

• Approaches to international business include Ethnocentric, Regiocentric, Polycentric, Geocentric, and various types of investments and partnerships.

• The goals of international business include expanding production capacity, severe competition in the home country, and limited home market.

• Advantages of international business include product flexibility, less competition, protection from national trends and events, learning new methods, and economic benefits.

• Economic benefits of international trade include increased socio-economic welfare, wider market, reduced effects of business cycles, and high living standards.

• The international business environment can be classified as domestic, foreign, and international spheres of impact, with factors such as political risks, legal systems, and cultural differences influencing it.

• Multiculturalism is essential for every international firm, and managing diversity is crucial for compatibility between strategy and culture.

• Protectionism and trade liberalization are two opposing forces in international business, with trade liberalization being the removal of trade practices that thwart free flow of goods and services from one nation to another.International Business Management: Strategic Planning, Organizational Design, Control, Performance, Conflict Management, and Ethics

• Strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives.

• Geographic, cultural, and national differences pose challenges for international strategic management.

• The framework for international strategic management consists of five phases of planning and analysis.

• Standardization and differentiation are two approaches to global marketing.

• Strategic options include global, international, trans-national, and multi-domestic strategies.

• Factors affecting strategic options include external constraints, intra-organizational forces, values, preferences, impact, past strategy constraints, information constraints, and competitors' reactions.

• Global portfolio investment involves purchasing stocks, bonds, and money market instruments by foreigners for financial return.

• Factors affecting global portfolio investment include tax rates, interest rates, and exchange rates.

• Global entry strategies include exporting, licensing, franchising, contract manufacturing, turnkey projects, and management contracts.

• Organizational structure defines how activities are directed towards achieving organizational aims and includes types such as international, functional, product, geographic, matrix, and mixed structures.

• Control systems in international business involve strategic, organizational, and operational control and can use personal, bureaucratic, output, and cultural controls.

• Ethical issues in international business involve employment practices, human rights, environmental pollution, corruption, moral obligations, and ethical dilemmas.

International Business Management Lecture Notes

• International Business involves commercial transactions between parties in two or more countries, including the transfer of goods, services, technology, and capital.

• Multinational Enterprises (MNEs) have a global approach to foreign markets and production, encompassing both domestic and international markets.

• International Management involves effectively coordinating the procurement, allocation, and utilization of resources within and across national boundaries.

• International Trade refers to when a firm exports goods or services to consumers in another country, while Foreign Direct Investment refers to when a firm invests resources in a foreign business.

• The international business is directly linked to globalization, which is driven by factors such as technology, market differences, high product development costs, and political issues.

• The evolution of international business has gone through phases, starting with the Industrial Revolution and culminating in a global mode of operation.

• Approaches to international business include Ethnocentric, Regiocentric, Polycentric, Geocentric, and various types of investments and partnerships.

• The goals of international business include expanding production capacity, severe competition in the home country, and limited home market.

• Advantages of international business include product flexibility, less competition, protection from national trends and events, learning new methods, and economic benefits.

• Economic benefits of international trade include increased socio-economic welfare, wider market, reduced effects of business cycles, and high living standards.

• The international business environment can be classified as domestic, foreign, and international spheres of impact, with factors such as political risks, legal systems, and cultural differences influencing it.

• Multiculturalism is essential for every international firm, and managing diversity is crucial for compatibility between strategy and culture.

• Protectionism and trade liberalization are two opposing forces in international business, with trade liberalization being the removal of trade practices that thwart free flow of goods and services from one nation to another.International Business Management: Strategic Planning, Organizational Design, Control, Performance, Conflict Management, and Ethics

• Strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives.

• Geographic, cultural, and national differences pose challenges for international strategic management.

• The framework for international strategic management consists of five phases of planning and analysis.

• Standardization and differentiation are two approaches to global marketing.

• Strategic options include global, international, trans-national, and multi-domestic strategies.

• Factors affecting strategic options include external constraints, intra-organizational forces, values, preferences, impact, past strategy constraints, information constraints, and competitors' reactions.

• Global portfolio investment involves purchasing stocks, bonds, and money market instruments by foreigners for financial return.

• Factors affecting global portfolio investment include tax rates, interest rates, and exchange rates.

• Global entry strategies include exporting, licensing, franchising, contract manufacturing, turnkey projects, and management contracts.

• Organizational structure defines how activities are directed towards achieving organizational aims and includes types such as international, functional, product, geographic, matrix, and mixed structures.

• Control systems in international business involve strategic, organizational, and operational control and can use personal, bureaucratic, output, and cultural controls.

• Ethical issues in international business involve employment practices, human rights, environmental pollution, corruption, moral obligations, and ethical dilemmas.