Chapter 5s: Business And Finance Questions

Which of the following statements BEST describes a licensing agreement?

If American firms like Walmart and other department store chains are hurt by systematic efforts by Indian government to develop policies that build their domestic companies at the expense of US firms, it is called:

The _________ is a political and economic alliance of European countries that have agreed to support mutual economic growth by removing barriers that previously limited cross-border trade and business development

Criteria for choosing joint venture partners include all of the following EXCEPT:

Common legal problems faced by international businesses involve all of the following EXCEPT:

___________ is a significant pathway to business growth for both individual firms and economies by providing new customer bases and expanded markets for products and services.

A(n) __________ is a local operation completely owned by a foreign firm.

International joint ventures are types of ____________ in which foreign and domestic firms act as partners by sharing resources and knowledge for mutual benefit.

__________ tries to forecast political disruptions that can threaten the value of a foreign investment.

The euro is now the common _____ currency.

A(n) _________ is a global corporation or MNE that operates worldwide on a borderless basis.

______ involves illegal practices to further one's business interests.

_____ is(are) a shared set of beliefs, values, and patterns of behavior common to a group of people.

Suppose Susan from USA works for a multinational company and has just arrived in a remote country in Africa for her work assignment. At the first problem she encounters in speaking the language, she exclaims loudly, "I wish everyone in this little country just spoke English like the rest of the civilized world!" Susan's behavior is an example of which of the following concepts?

Scholars in the area of _____ management study how management perspectives and practices systematically differ among countries and cultures.

Resources, markets, and competition are worldwide in scope

The process of growing interdependence among elements in the global economy

Managing business and organizations with business interests in more than one country

Is culturally aware and informed on international affairs

Conducting for-profit transactions of goods and services across national boundaries

Reasons why businesses go global

involve the sale of goods or services to foreign markets but do not require expensive investments

operates in a foreign country through co-ownership by foreign and local partners

a partnership in which foreign and domestic firms share resources and knowledge for mutual gains

local operation completely owned by a foreign firm

Potential loss in value of a foreign investment due to instability and political changes in the host country

Forecast political disruptions that threaten the value of a foreign investment

NAFTA - North American Free Trade Agreement EU - European Union APEC - Asia Pacific Economic Cooperation ASEAN - Association of Southeast Asian Nations SADC - Southern Africa Development Community

MNE (multinational enterprise) or MNC (multinational corporation) with extensive business operations in more than one foreign country

A global corporation that operates worldwide on a borderless basis

_____ complaints about host countries: Profit limitations Overpriced resources Exploitative rules Foreign exchange restrictions Failure to uphold contracts

illegal practices that further one's business interests

makes it illegal for U.S. firms and their representatives to engage in corrupt practices overseas Bribes to foreign officials Excessive commissions Non monetary gifts

full time employment of children for work otherwise done by adults

employ workers at very low wages for long hours in poor working conditions

The shared set of beliefs, values, and patterns of behavior common to a group of people

Confusion and discomfort a person experiences in an unfamiliar culture

The ability to adapt and adjust to new cultures

Tendency to consider one's own culture as superior to others

Confusion Small victories The honeymoon Irritation and anger Reality