Exam 18: Global Opportunities for Small Business

Products that sell at home usually require little or no adaptation to be well received in foreign markets.

Match the term with its definition.Some terms may not be used. a.Bill of lading b.Born-global firms c.Counterfeit activity d.Economic risk e.Economies of scale f.Exchange rate g.Letter of credit h.Offshoring i.Political risk j.Royalties -The probability that a country's government will mismanage its economy in ways that hinder the performance of firms operating there

Match the term with its definition.Some terms may not be used. a.Born-global firms b.Cross-border acquisition c.Exporting d.Globalization e.Greenfield venture f.Importing g.Offshoring h.Trade intermediary i.Trade mission -Selling products produced inthe home country to customers in another country

Labor rates have risen over time to the point that Antonio's Pasta is considering ____________ to reduce costs.

Melanie's Marbles is a young company that buys unusual marbles from many places around the world.To provide assurance for her vendors that they will be paid,Melanies has established a ______________ at her bank.

International business will never be as easy as doing business on the domestic front.

The primary motivation for expansion into European markets is to be closer to sources of raw materials.

A business that locates a production facility or sales office overseas by purchasing a foreign business from another firm is participating in

An economic risk for a global company is the threat of new labeling regulations.

Renee opened her business with the intention of importing goods from Brazil and selling them in the United States.We could say that this business is

The unique features of a local environment can yield benefits to small firms locating there even when the costs are greater.

Which government organization is an excellent source information about analyzing markets,financing and planning strategy?

For most small businesses,the primary motivation for going global is to

When it comes to cutting costs,many foreign companies have chosen to locate production facilities in Mexico to

Nike and many other companies engage in international outsourcing,which refers to

In Antonio accepts the offer of the Canadian grocery to sell his American-made pasta in Canada,he will be:

The U.S.Department of Industry provides information for entrepreneurs considering global operations.

Match the term with its definition.Some terms may not be used. a.Bill of lading b.Born-global firms c.Counterfeit activity d.Economic risk e.Economies of scale f.Exchange rate g.Letter of credit h.Offshoring i.Political risk j.Royalties -Efficiencies that result from expansion of production

When Wayne opened his business many years ago,most businesses operated only within one country.But now thanks to __________,businesses increasingly take advantage of cross-border activities.

Counterfeit activity is likely to decrease with the use of foreign licensing,international franchising,and international strategic alliances.