26 Questions
What is the main goal of a firm to achieve a competitive advantage?
Increase sales
Which factor contributes to superior returns in foreign markets compared to domestic markets?
Diverse market opportunities
How can a firm maximize its returns in foreign markets?
Implement tailored strategies for each foreign market
What is the potential impact of ignoring foreign markets for a firm seeking a competitive advantage?
Limitation of growth opportunities
In what way can focusing solely on maximizing returns in domestic markets be detrimental to a firm?
Reduced long-term profitability
What are the objectives that international business aims to satisfy?
Individual Companies
Which type of risk in international business is associated with a potentially adverse effect on company operations due to developments in the political, legal, and economic environment in a foreign country?
Country risk
What is the special role that science and technology play in international business?
Aids in achieving optimum utilization of resources
In international business, what is the primary benefit to participating countries?
Earn foreign exchange
Which type of risk in international business is associated with firms' potential loss or failure from poorly developed or executed business strategies, tactics, or procedures?
Commercial risk
What does cross-cultural risk refer to in international business?
Situation where a cultural miscommunication puts human values at stake
What unethical practice do some MNEs engage in by establishing factories in countries with low wages and substandard working conditions?
Violation of environmental regulations
Which aspect of the business practices of some MNEs is affected when they disregard labor standards and pay low wages?
Corporate social responsibility
What is a consequence of establishing factories with substandard working conditions?
Increased risk to worker health
How do low wages impact the livelihood of workers in the context of MNEs setting up factories?
Lead to financial struggles for workers
In what aspect do some MNEs fail when they establish factories in countries with low wages and poor working conditions?
Ensuring employee well-being
What is the primary benefit of working across national cultures according to the text?
Exposure to a diversity of experiences and new knowledge
Which of the following is NOT mentioned in the text as a benefit of working across national cultures?
Opportunity to learn unusual management techniques
What is the primary challenge of working across national cultures?
The text does not mention any challenges
What is the primary implication of the text for managers working across national cultures?
Managers need to be prepared to adapt to new ways of thinking
Which of the following best summarizes the main message of the text?
Working across national cultures can be challenging but also provides valuable learning opportunities
Based on the information provided, what is the approximate number of jobs created for every $7 billion increase in exports?
140,000 jobs
If U.S. exports totaled $2.5 trillion last year, approximately how many jobs were created from those exports?
2.5 million jobs
If one out of every seven dollars of U.S. sales is made abroad, what percentage of U.S. sales is made domestically?
85.7%
If the U.S. economy grew by $500 billion last year, and one out of every seven dollars of sales was made abroad, approximately how much of that growth came from exports?
$71.4 billion
If the U.S. aims to create 1 million new jobs through increased exports, approximately how much would exports need to increase by?
$100 billion
Test your knowledge on transactions devised across national borders to meet the objectives of companies. Explore topics such as international markets, finance, foreign exchange, and global HR.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
