International Business Transactions Quiz

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ThankfulTaylor
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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.

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