International Business Quiz

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Questions and Answers

Which of the following is NOT one of the basic theories of world trade mentioned in the learning objectives?

Absolute advantage

Monopolistic advantage (correct)

Competitive advantage

Comparative advantage

What is a key focus of the lecture on global outsourcing?

Discussing the pros and cons of outsourcing labor (correct)

Identifying the main competitors in the global market

Evaluating the efficiency of local production

Understanding consumer behavior in international markets

What major components should students be able to list and explain upon completion of the module?

Phases of international marketing strategies

Methods of currency exchange

Steps in the global supply chain

Principal parts of the balance-of-payments statement (correct)

Which of the following factors is most relevant to understanding why exchange rates fluctuate?

Supply and demand of currencies Signup and view all the answers

In how many different forms of economic integration should students be able to compare?

Four Signup and view all the answers

What has globalization contributed to among the native populace lacking English-speaking skills?

Resentment against the benefiting class Signup and view all the answers

What is a primary reason for lack of social mobility among youth in certain classes according to the content?

Globalization favoring skilled individuals Signup and view all the answers

What is predicted regarding the future of international business?

International business will grow primarily along regional lines. Signup and view all the answers

What dictates the methods used for international business operations compared to domestic operations?

Foreign conditions Signup and view all the answers

Which of the following is NOT mentioned as a factor affecting international business operations?

Political stability Signup and view all the answers

Why is it important for elites to address issues related to class mobility?

To ensure the rising tide lifts all boats Signup and view all the answers

What are the two significant reasons mentioned for the limitation of social mobility?

Class stratification and lack of opportunities Signup and view all the answers

What is essential for managers to effectively operate in an international business environment?

Knowledge of social sciences Signup and view all the answers

What is the primary objective of franchising for the franchisor?

To distribute goods and avoid investment risks Signup and view all the answers

Which of the following is a characteristic of licensing?

It involves authorization to use licensed material Signup and view all the answers

Which type of manufacturing is typically guided by the state in a collectivist economy?

Mass Production Signup and view all the answers

What does the World Bank primarily aim to achieve?

To reduce poverty in developing countries Signup and view all the answers

Which of the following best describes exporting?

Selling goods and services produced in the home country to other markets Signup and view all the answers

What are the institutions that comprise the World Bank?

International Bank for Reconstruction and Development and International Development Association Signup and view all the answers

Which of the following best describes the role of the International Monetary Fund (IMF)?

To support the stability of the international financial system Signup and view all the answers

What is a recognized form of manufacturing under various economic systems?

Assembly plants Signup and view all the answers

What is a characteristic of masculine societies?

Encourage ambition and competitiveness Signup and view all the answers

How do individualistic cultures generally perceive outsiders?

They tend to be more open to outsiders Signup and view all the answers

What does uncertainty avoidance mean in relation to cultural attitudes?

A preference for predictability and security Signup and view all the answers

What does corruption typically include in a business ethics context?

Bribery, fraud, and embezzlement Signup and view all the answers

Which of the following is NOT typically associated with feminine societies?

High levels of competitiveness Signup and view all the answers

What is a common method of corruption identified in various cultures?

Bribery involving gifts or favors Signup and view all the answers

What is a potential attitude of uncertainty avoidant societies towards ambiguity?

They consider it threatening Signup and view all the answers

What is the organization's policy regarding the participation of women in leadership positions?

Women are allowed to take leadership positions regardless of their asset ownership. Signup and view all the answers

Business ethics in an international context can be described as:

Inconsistent due to diverse value judgments Signup and view all the answers

How does the organization address equal pay for women?

Equal pay for equal work is guaranteed for all employees. Signup and view all the answers

What rights does the organization recognize for women employees?

Full employment rights and statutory benefits. Signup and view all the answers

How does the organization ensure that health and safety needs are addressed?

It complies with national laws and ILO conventions on health and safety. Signup and view all the answers

What is the purpose of adapting to cultural differences in management?

To improve communication and effectiveness in diverse settings. Signup and view all the answers

What support does the organization offer concerning trade unions?

The organization supports independent bargaining where unions are restricted. Signup and view all the answers

Which aspect significantly varies in management styles across the world?

The approach to decision-making and leadership. Signup and view all the answers

What is the organization's approach to working conditions?

It provides a safe working environment in compliance with laws. Signup and view all the answers

How does the organization handle complaints regarding workplace discrimination?

It ensures that representatives are not subjected to discrimination. Signup and view all the answers

What is a common implication of gender bias in many countries?

Disparities in career advancement opportunities. Signup and view all the answers

What efforts does the organization make regarding health and safety in producer groups?

It actively raises awareness and improves health and safety practices. Signup and view all the answers

Why are cultural differences important in business ethics?

They influence perceptions of acceptable behavior. Signup and view all the answers

What characterizes relationship-oriented cultures?

Focus on networking and building trust. Signup and view all the answers

What is one result of understanding cultural differences in management?

Enhanced ability to negotiate and resolve conflicts effectively. Signup and view all the answers

In what kind of settings is cultural adaptation particularly necessary?

In multinational corporations with diverse teams. Signup and view all the answers

How is the concept of culture defined in a managerial context?

As the enhancement of individual capabilities through education. Signup and view all the answers

Study Notes

International Business and Trade Course Information

Course: International Business & Trade (BA 412)
Semester: 1st, 2024-2025
Instructor: Dr. Paraluman L. Veloz
Course Schedule: Weekly sessions
Learning Approach: Embraces new normal by providing flexibility to learn at one's own pace via convenient online courses.
Module Packets: Provide material for BA International Business, Sta Rosa City, Philippines

Module 1: Globalization and International Business

Overview: Discusses introduction and overview of global marketing, emphasizing its importance.
Globalization of Markets: National markets merging into a global marketplace. (Important not to push this viewpoint too far).
Globalization of Production: Firms basing productive activities in optimal global locations. This makes discussing specific national products irrelevant.
Module Objectives: Learn to define globalization and international business, understand the acceleration of business growth in an international context through discussion, research, and practical activities. Develop the ability to prepare effective international marketing programs. Understand the factors affecting international business operations.

Module 2: The Global Economy

Overview: This module covers the basics of world trade and economic integration.
World Trade Organization (WTO): An intergovernmental organization managing international trade.
International Trade: Transaction of goods and services across national borders.
International Marketing: Business activities planning, pricing, promoting, and directing goods/services to consumers in multiple nations for profit.
Globalization: The ongoing and deepening of relationships across countries. International business a mechanism to drive globalization.
Trade theories (Absolute, Comparative, and Competitive Advantage): Explained in depth.

Module 3: Culture, Management Style, and Business Systems

Overview: Examines cultural differences that impact international marketing.
Cultural Differences: Analyze the significance of cultural factors in international marketing.
Management Styles: How management styles vary across cultures.
Gender Bias: The existence of this bias in international business management.
Uncertainty Avoidance: The state of being uneasy or worried about the future.
Hofstede's Cultural Dimensions: Explained, with examples and scores for several countries.
Business Ethics: Importance of acting ethically across cultures.

Module 4: Political and Regulatory Climate

Host/Home Country Political Influences: Government policies, actions, and regulations affect international business.
Pressure Groups: Identify and discuss groups that impact international marketing.
Political Actions: Discuss actions like boycotts and takeovers
Legal Systems: Outline different legal traditions (civil, common, customary religious, and mixed).
Political Risk: The possibility of drastic change due to political forces.
Transparency and Corruption: How important transparency is in international business.

Module 5: The Global Market

Overview: This module identifies factors influencing consumers' buying abilities, exploring how these factors affect different national markets.
Consumer Behavior (Maslow's Hierarchy): Explores how these factors influence buying decisions and how they vary across cultures.
Market Segmentation: How companies divide markets to target specific segments, and how the segmentation strategy differs internationally.
Market Similarity: Whether the segments presented here are applicable internationally or not based on a country's needs.

Module 6: Global Competitors

Overview: Discusses the nature of global competition, including Michael Porter's industry analysis.
Competitive Strategies: Various strategies outlined for local firms (defender, extender, contender, and dodger strategies)
Global Firms: Explore various ways firms participate in international markets
Internationalization: The term used for expansion into overseas markets.
Market Liberalization: The encouraging of competition in previously controlled markets.
Country-of-Origin Effects: The role of a country's origin on product perception.

Module 7: Global Market Participation

Overview: Covers the reasons why firms internationalize and the differences between "born global" and traditional companies.
Global Market Screening: Filter used to assess attractiveness of specific national markets.
Market Similarity: The pros and cons of targeting similar markets across cultures and using this filter to choose your next market target.

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Description

Test your knowledge on key concepts in international business, globalization, and economic integration. This quiz covers fundamental theories, components of global outsourcing, and factors influencing international trade and exchange rates. Assess your understanding of the challenges and predictions for the future of global business operations.