Exam 18: Global Opportunities for Small Businesses

Increasing sales in international markets is one of many viable ways to recoup a firm's investments in research and development.

Match the term with its definition. -A strategy that involves accessing foreign business operations through contracts with independent providers

The motivation to take domestic products to foreign markets is more relevant today than in the past.

Match the term with its definition. -Selling products produced in the home country to customers in another country

For some small businesses, a recent trend for going global is to

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

What questions related to the topics of management objectives, management experience and resources, production capacity, and financial capacity should an entrepreneur consider when assessing his or her readiness for going global?

Dustin owns a small Web design company and has decided to expand his operations globally. What is the next step that Dustin should take in order to ensure a successful entry into the global market?

Gains from learning effects continue to grow after startup; economies of scale efficiencies decline as the business grows.

If Finagle-A-Bagel contracts with a baker in Hong Kong to manufacture and sell a product in overseas markets, Finagle-A-Bagel would be the

International outsourcing and offshoring are increasingly being used by companies going global to cut costs.

Trade leads are accessed most often through contacts.

The U.S. Department of Commerce publishes a handbook that outlines the important steps entrepreneurs must go through to become a global business.

Moderately challenging countries according to the World Bank's "Ease of Doing Business Index" include Brazil, Mexico, and Saudi Arabia.

Today, companies tend to focus on developed countries as they search out international markets.

China, India, and Russia are classified as most challenging according to the World Bank's "Ease of Doing Business Index."

International dissimilarities in language and culture, business practices, and government regulations are increasing over time.

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

International markets are increasingly demanding

Twenty-five percent of the world's population lives in the United States.