International Business

True

According to relativists, firms and individuals should seek to uphold ethical behavioral standards consistently around the world. True or False?

Economic Risk

Fluctuating exchange rates are an example of what type of risk in international business?

False

In collectivist societies, competition for resources is the norm, and those who compete best are rewarded financially. True or False?

True

Exporting is an entry strategy involving the sale of products or services to customers located abroad. True or False?

True

Falling trade barriers are facilitated by the WTO. True or False?

Cultural Intelligence

____________________ a person's ability to function effectively in situations characterized by cultural diversity.

False

As market globalization intensifies, the gap between the rich and the poor shrinks rapidly. True or False?

Ethnocentric Orientation

As part of opening manufacturing units abroad, a U.S. apparel firm decided to send its apparel production coordinator Chris to Bangladesh. Chris is distressed that people don't come to meetings on time and finds it disrespectful when his team members stand too close to him. Chris may trigger a cross-cultural risk by a(n) ________. (ethnocentric orientation or polycentric orientation?)

True

Grease payments intended to expedite transactions are both accepted and legal in many countries. True or False?

True

In polychronic cultures, managers make commitments, set deadlines, and adhere to a strict schedule of meetings and activities. True or False?

trade and investment

International business is defined as the performance of ________ activities by firms across national borders.

True

International business is performed not just by individual firms, but also governments and international agencies. True or False?

True

Nonverbal communication belongs to the deep cultural makeup that we are unaware of. True or False?

False

Offshoring and the flight of jobs are prime drivers of market globalization. True or False?

Low Context Society

Rely on explicit explanations with emphasis or spoken words. Get down to business first!

True

Since the 1980s, emerging market countries have experienced substantial market liberalization and privatization. Ture or False?

False

Standards of ethical behavior are uniform worldwide. True or False?

Counterfeiting

The process of reproducing assets without compensating those who originally created them is known as

False

The world's largest MNEs are concentrated in emerging economies. True or False?

Socialization

______________ is the process of learning the rules and behavioral patterns appropriate to one's own society.

Acculturation

_______________ is adjusting and adapting to a culture other than one's own.

Globalization of Markets

__________________ refers to the gradual integration and growing interdependence of national economies.

Gross Domestic Product (GDP)

is the total value of products and services produced in a country over the course of a year.

Sustainability

means meeting humanity's needs without harming the ability of future generations to meet their needs

Corporate Governance

refers to the system of procedures and processes by which corporations are managed, directed, and controlled

International Investment

refers to the transfer of assets to another country or the acquisition of assets in that country.

Culture

refers to the values, beliefs, customs, arts, and other products of human thought and work that characterize the people of a given society.