16 Questions
What is a foundation for legal systems?
Principles of comity
Which country is not a member of the EU?
Monaco
What differentiates a common law system from a civil law system?
Precedent-based vs statutory-based
For successful international business, what is crucial for companies to do?
Understanding local market characteristics
Why does privatization typically occur?
To improve efficiency and reduce government involvement
What problems in international markets can be created by counterfeiting and intellectual property theft?
Loss of revenue for legitimate businesses
In which of the following countries are interest-bearing transactions not allowed?
Iran
When an organization does as little as possible to address social or environmental issues, it has adopted the ________ to social responsibility.
Obstructionist stance
Braxton Clothing Company most likely forbids its buyers from accepting gifts from potential suppliers because the firm wants to avoid a ________.
Conflict of interest
How has the Internet helped small businesses compete in global markets?
By reducing entry costs
What has most likely triggered the increase of small businesses involved in international business?
E-commerce
According to the CAGE Model, what does geographic distance refer to?
Geographic distance
What is the term for buying products made in other countries for use or resale in one's own country?
Importing
Why is gift exchange more common in high-context, power-respecting cultures than in low-context, power-tolerant cultures?
It helps build stronger relationships and trust.
What is a code of ethics in business?
A guideline for ethical behavior within an organization
What term is used when an employee reports unethical behavior within the organization?
Whistle-blowing
Explore the reasons why privatization usually takes place and learn which industries are often considered for privatization. Test your knowledge on the topic.
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