International Business Final True/False

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A company needs a large size to facilitate and benefit from the globalization of markets

False

A production process would create just one defect in six thousand products at Six Sigma

False

A theocratic law system is one in which the law in not based on religious teachings

False

Firms based in less - developed nations tent to build many extra performance attributes into their products

False

Folkway do not include rituals and symbolic behavior

False

GNI allows a more direct comparison of living standards in different countries

False

Hecksher - Ohlin theory does not support the case for unrestricted free trade between nations

False

In today's world of global communications, rapid transportation, and global markets, cultural differences have ceased to exist

False

Market can be segmented in only one way: by sociocultural factors

False

Most international businesses require all budgets and performance data within the firm to be expressed in the currencies of the countries where its subunits are located

False

Most modern democratic states do not practice representative democracy

False

Privatization refers to the process of hiring private management consultancy firms to manage state - owned enterprises

False

Support activities are always less important than the primary activities in achieving a competitive advantage

False

The communists believed that socialism could be achieved by democratic means, and turned their backs on violent revolution and dictatorship

False

The ethical obligations of a multinational corporation toward employment conditions, human rights, environmental pollution, and the use of power are always clear - cut

False

The most attractive staffing policy is the ethnocentric approach

False

The skills within the firm that a competitor can easily match or imitate are known as core competencies

False

The theories of Smith and Ricardo show that countries should not engage in international trade for products that it is able to produce itself

False

The world bank has focused on policing the world trading system and making sure nationstate adhere to the rules laid down in trade treaties

False

Cultural myopia refers to a firms failure to understand host country cultural differences that require different approaches to marketing and management

True

Ethical strategy is a course of action that does not violate ethical principles

True

Exporting is found to be most inappropriate with lower - cost locations for manufacturing a product can be found abroad

True

If a country's economy is to sustain long - run economic growth, the business environment must be conducive to innovations and entrepreneurial activity

True

Lowering costs is one of the objectives of the production and logistics functions of an international firm

True

Outsourcing is a process that is not limited to manufacturing enterprise

True

Products sell well when their attributes match consumer needs

True

Products such as electronic components and pharmaceuticals have high value - to - weight ratios

True

Social responsibility in business refers to the idea that business people favor decisions that have both good economic and social consequences

True

The US financial accounting standards board and IASB are not vastly different

True

The attractiveness of a country as a potential market for an international business depends on balancing benefits, costs, and risks associated with doing business in that country

True

The central message of individualism is that individual economic and political freedoms are the ground rules on which a society should be biased

True

The set of choices the firm offers to its targeted markets is known as the marketing mix

True

Values are abstract ideas about what a group believes to be good, right, and desirable

True

What is considered normal business practice in one country may be considered unethical in other countries

True

A firm's strategical be defined as the actions that managers take to attain the goals of the firm

True

A wholly owned subsidiary does not limit a firms control over operations in different countries

True

According to Max Weber, protestantism encouraged capitalism's development by emphasizing the importance of wealth creation and frugality

True

According to Porter, the way to create superior value is to drive down the cost structure of the business and/or differentiate the product in some way so the consumers value it more

True

Accounting information is the means by which firms communicate their financial position to the providers providers of capital

True

An expatriate manager is a citizen of one country who is working abroad in one of the firm's subsidiaries

True


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