Exam 9: Growing and Internationalizing the Entrepreneurial Firm

Licensing is mostly used in the service industries.

Cultural values and norms are examples of informal institutions.

Direct exports are the sale of products made through export intermediaries.

In a manufacturing industry,_____ refers to firm A's agreement to give firm B the rights to use A's proprietary technology (such as a patent) or trademark (such as a corporate logo) for a royalty fee paid to A by B.

International entrepreneurship is defined as "a combination of innovative,proactive,and risk-seeking behavior that crosses national borders and is intended to create wealth in organizations." 

What is the stage model? How does the stage model apply to internationalization?

_____ is defined as the identification and exploitation of previously unexplored opportunities.

A letter of credit increases transaction costs by increasing transaction risks.

Entrepreneurial firms can internationalize while staying in domestic markets through indirect exports.

A firm can internationalize by becoming a supplier for a foreign firm that is doing business in the domestic market.

Among developed countries,_____ has the lowest rate of start-ups.

Foreign direct investment is the only way in which SMEs can enter foreign markets.

Sweden has the lowest venture capitalist investment in the world.

The term for a global movement to help eradicate poverty by lending small sums used to start small businesses is referred to as _____.

Which of the following is one of the methods by which entrepreneurial firms internationalize by entering foreign markets? 

The growth of an entrepreneurial firm can be viewed as an attempt to more fully use currently underutilized resources and capabilities.

Foreign acquisitions are an example of an FDI entry into foreign markets.

Franchising is typically used in manufacturing industries.

____ is at the fundamental component required for an entrepreneurial mindset.

Relative to licensing and franchising,_____ allow a firm to have better control of how its proprietary technology is used while entering foreign markets.