Cate loes ch. 5 and 6 mgmt

Which of the following refers to an economic and political union of 28 member nations that are located primarily in Europe?

European Union

If Peru wants to purchase machine parts from a German company but lacks German marks, it will probably go to which of the following institutions to borrow the marks?

International Monetary Fund

Because many countries do not permit foreigners to purchase and operate facilities in their countries, a company wishing to do business in such a country may share the business costs with the host country by forming a

Joint Venture

Which of the following refers to the acquisition of goods in one country and the selling of them to buyers in another country?

NOT SURE

What is meant by contract manufacturing?

Occurs when a company hires a foreign company to produce a specified volume of the firm's product to specification

What name is given to the evaluation of the organization's internal strengths and weaknesses and the opportunities and threats associated with the business's external environment?

SWOT

What is meant by corporate strategy?

The scope and resource deployment components of strategy for the enterprise as a whole

The ______ loans money to countries throughout the world for reconstruction and development, and also makes loans to poorer countries for infrastructure and social services purposes.

World Bank

Which of the following refers to the initial stage of the product life cycle when the product is introduced?

birth

What term describes a group of firms or nations that agree to act as a monopoly and not compete with each other?

cartel

When a firm offers a unique good or service to a customer at a premium price, it is following the business-level strategy of

differentiation

What term describes what a firm does well relative to its competitors?

distinctive competence

Your saltwater taffy, which you produce right next to the Pacific Ocean in Orchard Park, Oregon, has a national reputation. You sell all you can make, and people drive hundreds of miles to your shop to buy it. You have a

distinctive competence

By requiring products to be sold for not less than what it costs to produce them, the United States is attempting to prohibit

dumping

What name is given to the ratio at which one nation's currency can be exchanged for another nation's currency or for gold?

exchange rate

You sell Gourmet Mushrooms (GMs) at $100 an ounce. You have a secret source of supply, jealously guarded. Your GMs are better than your competitors' mushrooms, and only the very wealthiest Americans buy them. You are using the business strategy called

focus

_____ of a plan is where the organization goes from the "thinking" mode to the "doing" mode.

implementation

Which of the following refers to a tax levied by a nation on goods bought outside its borders and imported into the country?

import tariff

The purchase of goods and services from a foreign source defines

importing

What name is given to the product life cycle stage when the product's market share either slows or has no growth?

maturity

Which of the following refers to a definition of an organization's fundamental purpose and its basic philosophy?

mission

Which of the following refers to a set of activities intended to achieve goals, whether for an entire organization, department, or an individual?

plan

Which of the following refers to a partnership formed to create competitive advantage on a worldwide basis?

strategic alliance

In SWOT analysis, an ability or attribute that a company possesses that may give it a distinctive competence is called

strength

MidAmerican Energy Holdings Company has doubled its wind energy capacity by installing windmills and high-tech batteries to make it a "cleaner" utility company. In high-tech renewable energy, this company has a

successful strategy

Which of the following characteristics relates to the North American Free Trade Agreement (NAFTA)?

Effectively merged Canada, the United States, and Mexico into one market of about 400 million consumers by eliminating most tariffs and trade restrictions on agricultural and manufactured products among the three countries

What are strategic goals?

Goals set by higher managers that deal with such general topics as the firm's growth, new markets, or new goods and services

What term describes an international economic organization comprised of 30 countries that accept the basic principles of free-market economies and representative democracy, and that recommend and promote policies to improve the well-being of consumers and societies across the world?

Organization of Economic Cooperation and Development (OECD)

You are the international marketing manager for Brides & Grooms, Inc., a designer and manufacturer of wedding apparel. This year's fashions are featuring white for the entire wedding party. You scheduled this year's Asian kick-off for next Monday in Tokyo, when you discover that white is the Japanese color of mourning. What did you overlook?

Social and Cultural Differences

What is meant by decline?

The product life cycle stage marked by decreases in the product's market share

When Reebok has some of its athletic shoes produced by a Korean company, but the Reebok name still appears on the shoes, this illustrates

contract manufacturing

What term describes a business-level strategy aimed at achieving the overall lowest cost structure in an industry?

cost leadership

China's arrangement with the Congo to barter infrastructure in exchange for metals is an example of a

countertrade agreement

The United States' prohibition of the importing of Cuban cigars is an example of

embargo

What name is given to the final result that a firm wishes to achieve?

goal

What term is used to describe the product life cycle stage characterized by dramatic increases in the product's market share?

growth

You are an apple farmer and spokesperson for the American Apple Association. You are faced with severe dumping from apple growers in Transoceania, where apples grow wild and the people pay to pick apples as a form of recreation. To counter this threat, you are going to lobby Congress and the president to

impose a protective import tariff

What term describes a trade arrangement in which one company--the licensor--allows another company--the licensee--to use its company name, products, patents, brands, trademarks, raw materials, and/or production processes in exchange for a fee, or royalty?

licensing

What is meant by decline?

not sure

What is meant by focus?

not sure

Which of the following characteristics relates to contingency plans?

not sure

In SWOT analysis, an environmental circumstance that is potentially beneficial for the firm is called

opportunity

What name is given the transfer of manufacturing or other functions (such as data processing) to countries where labor and supplies are less expensive?

outsourcing

You are the executive vice president of Banana Computer, Inc. You have a competitive machine, but your major competitor has the benefit of large-scale production, making its products less expensive to manufacture. In order to remain price-competitive, you send your parts and subassemblies to Mexico for the final stage of assembly, thereby taking advantage of

outsourcing

What name is given to the maximum number of units of a particular product that may be imported into a country?

quota

Most businesspeople engaged in international trade underestimate the importance of

social and cultural difference

The translation of product names can be a crucial factor in the success or failure of a foreign marketing effort because of

sociocultural differences

Strategic planning differs from general planning in that it focuses on

the external environment and long-term goal

Strategic planning differs from general planning in that it focuses on

the external environment and long-term goals