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Study Resources (Business Management)

  41. (p. 575) A growing number of ICs is realizing the importance of knowledge of more than one language by their employees.  42. (p. 576) Culture shock is self-perpetuating and caused by excessive self-absorption and rigidity in the expatriate who suffers it.  43. (p. 576) One of the best ways to cope with culture shock is to find people from your.
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  51. (p. 480) Firms that include imported parts in their finish products must pay duty on the imports, but this duty is returned when the product is exported (customs drawback).  52. (p. 480) If assembly or manufacturing is done in an FTZ using imported components, no duties need to be paid when the finished product is imported.  53. (p. 474) Payment.
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  21. (p. 568) To achieve global objectives the selection and training of IC managers is the same whether the candidate is from the home country, the host country, or a third country.  22. (p. 569) American ICs supplement their training for expat managers with short courses at American business schools.  23. (p. 569) Family adjustment is not critical in the job.
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  Fill in the Blank Questions 76. (p. 498) The basic functions of domestic and international marketing are the __________.  77. (p. 499) Management would prefer __________ standardization of the marketing mix.  78. (p. 500) The __________ is the central focus of the marketing mix.  79. (p. 500) What the customer buys, including the physical product, brand name, accessories, after-sales service, warranty, instructions for use, company image,.
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  61. (p. 611) The money market hedge:  A. is accomplished by one contract in the foreign exchange market. B. should be avoided. C. may involve borrowing money in a foreign currency and immediately converting it to dollars. D. none of the above. 62. (p. 611) The money market hedge:  A. none of the following. B. offers little flexibility in currencies hedged, as well as amounts and settlement dates. C. is of.
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  71. (p. 543) Mass customization:  A. refers to a company's use of computer-aided manufacturing systems to produce and deliver products and services. B. is usually appropriate in situations where there is the potential for differentiating a product for a particular customer. C. typically requires the company to reconceptualize the design of its products as well as the design and.
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  11. (p. 501) To avoid changing the product to meet local legal requirements manufacturers frequently design it to meet the most stringent laws, even though it is over designed for other markets.  12. (p. 501) Luxury items such as perfume can often be sold without adaptation in many different foreign markets.  13. (p. 502) Generally as marketers go down the economic.
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  81. (p. 556) Absenteeism in developing nations:  A. is a significant problem in meeting production standards. B. lowers labor costs. C. is necessary so that workers can help with the harvest. D. may result if managers fail to adopt a participative management style. 82. (p. 555) One obstacle to meeting production standards is:  A. excessive back orders of output. B. excessive sales price. C. excessive manufacturing costs. D. A and B. 83. (p. 557) To be effective,.
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  71. (p. 473) Export marketing plans should be specific about:  A. The markets to be developed B. The marketing strategy for servicing them C. The tactics required to make the strategy operational D. The management plan E. A, B, and C F. A, B and D 72. (p. 473) Ex-Works suggests  A. Cash in advance B. Open account C. Consignment D. Letters of credit E. Free on Board F. All of the above 73. (p. 480) Freight forwarders' responsibilities include all except:  A. Booking space on a.
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  41. (p. 603) Debt capital is raised by selling preferred stock representing debt of the company.  42. (p. 614) Financial instruments, such as futures, options, and swaps are sometimes referred to as derivatives.  43. (p. 615) Countertrade is international trade in which at least part of the payment is in some form other than currency.  44. (p. 615, 616) The governments of most LDCs discourage.
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  Fill in the Blank Questions 93. (p. 610) The party that must pay or receive a foreign currency in the future incurs a __________ risk in that the currency value may change.  94. (p. 610) Taking action to protect against losses due to currency exchange rate fluctuations is __________.  95. (p. 607) Transfer __________ is a term for the pricing involved when.
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    41) Gentian Violet is a dye manufacturing company that uses computer networks to sell its products, service customers, and collaborate with partners. Which of the following technologies is the company engaging in this scenario? A) rapid prototyping B) e-business C) simulation D) console automation   42) Development that meets the needs of the present without compromising.
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  31. (p. 572) If a company feels that it probably will send parent country nationals abroad, it will frequently encourage them to study the language and culture of the country to which they are going.  32. (p. 573) When managers are assigned and move abroad with their families, the most difficult adjustments are frequently for the children.  33. (p. 573) When.
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  21. (p. 610) Exposure netting is the acceptance of closed positions in two or more currencies that are considered to balance one another.  22. (p. 610) One hedging method with exposure netting is to work with groups of currencies rather than individual ones.  23. (p. 611) Swap contracts can be used to hedge foreign currency exposure. They may be undertaken for.
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  61. (p. 507) Because promotion both influences and is influenced by the other marketing variables, it is possible to formulate strategies by:  A. marketing the same physical product everywhere. B. adapting the physical product for foreign markets. C. designing a different physical product. D. all of the above. 62. (p. 508) Of all the promotional mix elements, __________ is the one with the greatest similarities.
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  Fill in the Blank Questions 89. (p. 468) Sometimes businesses, with no intention of doing so, end up exporting to meet customer requests. This phenomenon is referred to in the text as __________ __________.  90. (p. 474) Three of the five export payment terms mentioned in the textbook are: __________, __________, and __________.  91. (p. 475) A document issued by the buyer's.
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  Fill in the Blank Questions 90. (p. 564) Subsidiaries of the IC are often located in countries other than the home country. The country where the subsidiaries are located is referred to as the __________ __________.  91. (p. 564) A person living outside of his/her country of citizenship is a/an __________.  92. (p. 564) A mindset that combines openness to and an.
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  31. (p. 544) Mass customization is usually appropriate in situations where there is the potential for delaying the task of differentiating the product for a particular customer until the last possible point in the supply network.  32. (p. 544) Six Sigma is a business management process that combines a well-defined infrastructure with leadership from the top in.
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  61. (p. 568) Training and development of potential candidates for expatriate assignments:  A. is unnecessary with host country nationals. B. is unnecessary with home country nationals. C. depends on whether the candidate is a home, host or third country national. D. wastes company resources because management is an art form, not a skill. 62. (p. 569) Parent company nationals might be concerned with:  A. the rate at.
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  71. (p. 599) For the parent company in an IC group, translation of assets and liabilities as well as payables and receivables of subsidiaries from the currencies of their host countries to the currency of the parent's home country:  A. is a waste of time. B. is prohibited by laws of most host countries. C. is necessary for parent.
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    1) International business is any commercial transaction that crosses the borders of two or more nations.   2) Imports are goods and services purchased abroad and brought into a country.   3) Multinational corporations (MNCs) have direct investments abroad in multiple countries.   4) A born global firm is a company that engages in international business.
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  31. (p. 610) The right to receive, or the obligation to pay, a foreign currency up to one year in the future involves a transaction risk.  32. (p. 611) The currency losses or gains that can result from translating values of assets or liabilities and payables or receivable arising from investments abroad from one currency to another.
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  Multiple Choice Questions   51. (p. 616) The financial issues confronting IC management include:  A. fluctuating currency exchange rates. B. tariffs, taxes, and inflation. C. accounting practices. D. all of the above. 52. (p. 610, 611, 612, 613) Currency fluctuations create risks categorized as:  A. A, B and C. B. transaction exposure. C. translation exposure. D. economic exposure. 53. (p. 610, 611) Transaction exposure:  A. is a credit type risk. B. is a currency exchange risk which arises when future payment in a.
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True / False Questions 1. (p. 603) One decision faced by the financial management of an IC that can be turned into an opportunity is the choice of in which currency to raise capital.  2. (p. 600) The UK favors a capital structure opposite that of the U.S.  3. (p. 610) Transaction exposure or risk is a risk the customer may never.
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    11) Resistance to worldwide trade agreements has resulted in some nations placing greater emphasis on regional pacts.   12) Gross national product (GNP) is the value of all goods and services imported into a country over a one-year period. 13) Extranets give distributors and suppliers access to a company's database to place orders.
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  11. (p. 534) In U.S. industry, the proportion of purchased materials in the overall cost of goods sold has been rising for several decades.  12. (p. 535) In many companies, the purchasing function has been viewed as prime candidate for outsourcing to other firms, a trend encouraged by rapid developments in E-procurement.  13. (p. 537) Industry-based B2B exchanges can help optimize.
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  41. (p. 549) Generally, it is easier for international firms to standardize the concepts of total quality control and synchronous production in their foreign plants than it is to standardize the actual production facilities.  42. (p. 551) Although engineers are required for the maintenance of specialized machinery, only highly-skilled people are needed to attend the machines.  43. (p. 551) When a.
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    21) Critics of globalization believe the overall gains that accrue to national economies are worth the lost livelihoods of some workers.   22) Export-processing zones are special areas in which companies engage in tariff-free importing and exporting.   23) Research shows that pollution-intensive U.S. companies tend to invest in nations with lenient environmental.
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  41. (p. 475) On an open account, the buyer assumes all of the risk.  42. (p. 475) A disadvantage for companies that insist on less risky transactions, such as a letter of credit, is that they may be losing business to competitors who sell on open accounts.  43. (p. 475) When engaging in international business, banks are concerned with the merchandise,.
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  11. (p. 565) Parent company nationals commonly encounter difficulty overcoming the biases of their own cultural experience and being able to understand and perform effectively within a new operating context.  12. (p. 565) One reason for using home country citizens overseas is to prepare them for high-level positions at headquarters.  13. (p. 567) When a company's primary strategic orientation is multidomestic,.
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  51. (p. 584) Perks are symbols of rank in the corporate hierarchy and are used to compensate executives while minimizing taxes.  Multiple Choice Questions 52. (p. 564) The effectiveness of every organization depends to a great extent on how well its:  A. human resources are utilized. B. production facilities are operated. C. financial resources are planned. D. all of the above. 53. (p. 564) The day-to-day supervision of people on.
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  21. (p. 472) Exporting is relatively new at DuPont.  22. (p. 472) Not all states in the U.S. have export development programs that offer assistance to exporters by providing leads, locating overseas representatives, and counseling.  23. (p. 473) The export-marketing plan is essentially the same as the domestic marketing plan.  24. (p. 473) Sales forecasts and budgets, pricing policies, product characteristics, holiday party plans and.
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    31) A business that has direct investments (in the form of marketing or manufacturing subsidiaries) abroad in several countries is called a ________. A) dummy corporation B) shell corporation C) multinational corporation D) domestic corporation   32) The rise of a new international entity called the ________ suggests that any company, regardless of age, experience, and.
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True / False Questions 1. (p. 531) According to the text, outsourcing is hiring others to do noncore activities.  2. (p. 531) Supply chains are an integral part of global quality and cost management initiatives, since a typical company's supply chain costs can represent over 80 percent of assets.  3. (p. 531, 532) Because inventory is carried at each stage in the.
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  100. (p. 540) A balanced system in which there is little or no delay time and idle in-process and finished inventory is called _________.  101. (p. 541) Total quality management is the process by which the entire organization excels on all dimensions of product and services that are important to the __________.  102. (p. 541) __________ __________ is a small work.
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  21. (p. 508) Of all the promotional mix elements, personal selling has the greatest similarities worldwide.  22. (p. 509) Global branding is a way to say that your company makes a difference.  23. (p. 510) One of the reasons that Internet advertising is not appealing in an international setting is that most Internet users are poor and difficult to reach.  24. (p. 510) Buyers of.
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True / False Questions 1. (p. 498) Sometimes there are almost no differences between marketing domestically and marketing internationally: At other times these differences are great.  2. (p. 498) International markets served often differ widely because of great variations in the uncontrollable environmental forces.  3. (p. 499) Important differences between the domestic and foreign environments may make a wholesale transfer overseas of.
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  11. (p. 606) Microloans are hardly ever repaid, so they function as aid in developing economies.  12. (p. 611) A money market hedge involves credit or borrowing money.  13. (p. 611) When using a money market hedge, the hedger will hold the currency borrowed until the day it receives payment in terms of the underlying transaction.  14. (p. 611) When using a money market hedge,.
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  100. (p. 572) It has been suggested that as many as 9 out of 10 expatriate failures are related to __________.  101. (p. 575) A situation in which a person doing international business can speak only his/her home language is in a __________ __________.  102. (p. 575) The English language has become the __________ ______________.  103. (p. 576) ________ refers to the return of an.
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  71. (p. 574) Nancy Adler's research suggests that women:  A. will never get to the top because they take time-out for children. B. are more likely than men to succeed if they quit the company and start their own businesses. C. have been remarkably successful in international assignments, which does not seem to be related to gender. D. are less likely.
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  21. (p. 540) Japanese manufacturers realized that because of the limited size of the country's economy, they would have to export to grow.  22. (p. 540) To be competitive in world markets, Japanese managers knew they would have to provide high-quality products at low prices.  23. (p. 541) For just-in-time to be successful, manufacturers have to have the cooperation of their.
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  51. (p. 557) Nearly every international firm follows the practice of bringing a person from the home office to be the purchasing agent.  52. (p. 559) International companies try to place people from the home office as technical managers in their overseas affiliates to help keep the affiliates as captive customers.  53. (p. 559) The function of the technical department is.
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  31. (p. 473) In CIF (cost, insurance, freight, foreign port) the buyer quotes a price that includes the cost of the goods, insurance, and all transportation and miscellaneous charges to the named foreign port in the country of final destination.  32. (p. 473) CFR (cost and freight, foreign port) is similar to CIF except that the buyer.
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  41. (p. 500) The product is:  A. the central focus of the marketing mix. B. more than a physical object. C. the result of economies of scale. D. A and B. E. A, B, and C. 42. (p. 500) The total product:  A. is what the customer buys. B. includes the physical product, brand name, accessories, and after sales service. C. includes warranty, instructions for use, company image and package. D. all of the above. E. B.
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  31. (p. 515) Although American multinationals have engaged in public service activities in the United States for years, they have not done so in foreign countries.  32. (p. 518) In the development of international distribution strategies marketing managers are concerned with exporting and foreign distribution.  33. (p. 517) It is possible to hide profits with transfer prices.  34. (p. 504) Although the iPhone has proven.
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  51. (p. 502) Theodore Levitt says that Coca-Cola, Pepsi-Cola, and McDonald's all sell standardized products globally using standardized promotion. In reality, __________  A. only Coca-Cola does. B. only Pepsi-Cola does. C. only McDonald's does. D. only A and B do. E. none does. 52. (p. 501) Generally, __________ products require greater modification to meet local market requirements worldwide.  A. low priced B. maintenance C. consumer D. industrial 53. (p. 502) Generally, as marketers go down the economic and social.
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  61. (p. 486) Every importer should know how the U.S. Customs calculates import duties, and the importance of the product classification.  Multiple Choice Questions 62. (p. 469) Of the twelve most common mistakes and pitfalls awaiting new exporters listed in the textbook, which one of the following is not in the list:  A. Failure to develop an international marketing plan B. Treating.
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  61. (p. 540) To operate without inventory, Japanese firms required  A. that components, purchased or made in the factory, had to be defect free. B. that the parts and components had to be delivered to each point in the production process when they were needed. C. their suppliers to maintain inventories of finished components. D. A and B. E. A, B, and C. 62. (p. 540) Just-in-time:  A. is.
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    51) Whereas relocating production to low-cost locales traditionally meant production of goods almost exclusively, it increasingly applies to the production of ________. A) domestic products B) perishables C) services D) global brands   52) Two major forces that underlie the expansion of globalization are falling barriers to trade and investment, and ________. A) elevation of nationalism B) rise.
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True / False Questions 1. (p. 563) Before accepting a foreign assignment and becoming an expatriate, find someone fairly high in the company to be your mentor and protect you at headquarters.  2. (p. 564) The effectiveness of every organization depends, to a great extent, on how well its human resources are used.  3. (p. 564) Because of the importance of the.
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