Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

International Business > Exam 3 > Flashcards

Exam 3 Flashcards

1
Q

What causes companies to globalize?

A

The rapid transformation of the world marketplace forces companies large and small to look outward from their domestic markets.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the four major factors of globalization?

A

Market, Costs, Enviromental, Competitive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Market Factors of Globalization

A

Single global strategies can be developed for multiple countries that have similar demand conditions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Cost Factors of Globalization

A

Avoiding cost inefficienties and duplication

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Enviromental Factors of Globalization

A

The falling of barriers to trade; rapid technological advances.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Competitive Factors of Globalization

A

Prevention of competitors gaining undue advantage.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are the proactive and reactive motivations for international business?

A

Reactivie: Done in response to another person’s action

Proactive: Take advantage of opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are the steps, in order, for strategic planning for global expansion?

A

(1) Assessment and Adjustment of Core Strategy
(2) Formulation of Global Strategy
(3) Development of Global Program

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is the difference between macro data and micro data?

A

Macro: Global/Country Market Analysis (Tariff information, U.S. Export/Import Data, Foreign Expot/Import data, Non-Tariff Information)

Micro: Industry within a market (Local laws, size of market, local standards and specs, distribution system, competitive activity)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the difference between primary and secondary data?

A

Primary: The collecttion and analysis of data for a specific research purpose through interviews, focus groups, surveys, observation, or experimentation.

Secondary: The collection and analysis of data originally collected to serve another purpose rather than the specific objectives of the firm.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the difference between qualitative and quantitative data?

A

Qualitative: Data that have been analyzed to provide a better understanding, description, or prediction of given situations, behavioral patterns, or underlying dimensions.

Quantitative: Data amassed in numerical order to search for statistical significance or trends.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What type of research is the most reliable when making predictions about how people will really act in real-life situations?

A

Experimentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

In order of expense and complexity, what are the different global market entry and development strategies?

A

Exporting/Importing, Liscensing, Franchising, Strategic Alliance and Joint Ventures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the four P’s of Marketing?

A

Product, Price, Place, Promotion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the advantages and disadvantages of global standardization and localization?

A

HELP!!

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are the factors that encourage standardization and what are the factors that encourage local adaption?

A

Standardization:

  • Economies in product R&D
  • Economies of Scale in production
  • Economies in marketing
  • Control of marketing programs
  • “Shrinking” of the world marketplace

Local Adaptation:

  • Differing use conditions
  • Governemtn and regulatory influences
  • Differing buyer behavior patterns
  • Local initiative and motivation in implementation
  • Adherence to the marketing concept
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is product positioning?

A

The perception by consumers of a firm’s product in relation to competitor’s products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Why is international pricing more complicated than domestic pricing?

A

Government Influence, Different Currencies, Addtional Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is a Supply Chain?

A

A complex global network created by a firm to connect its vendors, suppliers, other third parties, and its customers in order to achieve greater cost efficiencies and to enhance competitiveness.

20
Q

Of all the different ways to set pricing, per our class discussion, what is generally the best way?

A

HELP!

21
Q

What are the 11 C’s of channel desisgn?

A

Customers, Culture, Competitors, Company Objectives, Character, Capital, Cost, Coverage, Control, Continuity, Communication

22
Q

What is the relationship between channel design and intermdeiary choice?

A

They connect producers and consumers.

23
Q

What is the relationship between material management and physical distribution?

A

Material management and physical distribution both handle the movement of material. Both have goals of logistic management to result in maximum cost effectiveness while maintaining service goals and requirements.

24
Q

What are the benefits of an efficient supply chain?

A

Increase customer satifaction

Save money

Reduce delivery lead times

Eliminate waste

25
Q

What are the dimensions used to evaluate transportation modes?

A

Transit Time

Predictability

Cost

Non-Econonmic Factors

26
Q

What are the effects of a company being able to reduce its order cycle time?

A

The customer service level will rise, and you will see an increase in product moved from the first step in the supply chain to the last quicker.

27
Q

What is the relationship between order cycle time, inventory, cost of inventory, number and location of warehouses, customer service levels and customer satisfaction?

A

Sufficient inventory management

28
Q

What are the stages of international involvment and who (structurally) does what at each stage?

A
  1. Little or no formal organization - Local resident expert or freight forwarders
  2. The International Division - Joint Staff
  3. The Global Organization - One leader (President, CEO)
29
Q

Global Product Structure

A

Prouct divisions are responsible for all global activity

30
Q

Global Area Structure

A

Geographic divisions are responsible for all global activity

31
Q

Global Functional Structure

A

Departments are formed on the basis of functional areas, such as production, marketing, and finance

32
Q

Process Structure

A

A variation of the functional structure in which departments are formed on the basis of production processes

33
Q

Global Customer Structure

A

Divisions are formed on the basis of customer groups

34
Q

Mixed Structure

A

Structure that combines two or more organizational dimensions

35
Q

Matrix Structure

A

Uses functional and divisional structures simultaneously

36
Q

What are the factors used to determine org structure and locus of decision-making in international organizations?

A

Its degree of involvement in international operations, The products the firm markets, The size and importance of the firm’s markets, The human resource capability of the firm

37
Q

What factors should be considered when selecting managers for overseas assignments?

A

Compentence, Adaptability, Personal Characteristics, Adaptability screening and Orientation

38
Q

What is the cost of maintaining a manager in an overseas assignment versus keeping her in a simlar role in the home country?

A

2 to 2.5 times more than keeping the manager in the home country.

39
Q

Why will some countries in Africa continue to suffer economically?

A

Political instability and the resulting inability of many African firms to trade consistantly.Education, enviromental factors

40
Q

Government intervention in international business affairs

A

Governments may intervene in the international business environment when certain international indexes or trigger mechanisms are met

41
Q

Developed nations willingness to help debtor nations

A

Developed nations will continue to help the debtor nations to increase market opportunities.

42
Q

Value of currencies

A

The international value of currencies will be greatly affected by market forces (investor trust, economic conditions, earnings perceptions, and political stability).

43
Q

International Debt Burden of countries

A

The international debt load of the United States will continue to be of major concern and may require new dimensions be pursued in international business.

44
Q

Technology’s affect on global business

A

High technology advances and the costs associated with leading edge technology will greatly impact global competition.

45
Q
A

International Business (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions