Question 1

A small business exporting to Hungary would likely have to engage in barter or countertrade since Hungarian currency is not convertible into any other currency.

Accepted Answer

A) True 
 B)False

Question 2

The Commercial Service International Contacts List (CSIC)and the Country Directories of International Contacts (CDIC)provide the same information but organized in different ways.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true about global competition?

Accepted Answer

A) There is less of a focus on quality and more of a focus on price internationally. 
B) It makes companies more customer-focused. 
C) It is largely the domain of small businesses due to their flexibility. 
D) It tends to shorten the life cycle of a product or service. 
A) There is less of a focus on quality and more of a focus on price internationally. 
B) It makes companies more customer-focused. 
C) It is largely the domain of small businesses due to their flexibility. 
D) It tends to shorten the life cycle of a product or service.

Question 4

An American executive went to a foreign country to sign a business contract.While there,he found that there were numerous government regulations his company needed to meet before closing the deal.This executive was experiencing which barrier to international trade?

Accepted Answer

A) Non-tariff 
B) Political 
C) Cultural 
D) Domestic 
A) Non-tariff 
B) Political 
C) Cultural 
D) Domestic

Question 5

________ is the primary market for U.S.franchisers.

Accepted Answer

A) South America 
B) Europe 
C) Mexico 
D) The Caribbean 
A) South America 
B) Europe 
C) Mexico 
D) The Caribbean

Question 6

When two small businesses in the target nation form an alliance,they have formed a foreign joint venture.

Accepted Answer

A) True 
 B)False

Question 7

Most Export Management Companies (EMCs)are merchant intermediaries,working on a buy-and-sell arrangement with domestic small companies.

Accepted Answer

A) True 
 B)False

Question 8

The biggest barrier to small business exports is:

Accepted Answer

A) the lack of experience. 
B) the lack of financing. 
C) not understanding other cultures. 
D) not having appropriate products for export. 
A) the lack of experience. 
B) the lack of financing. 
C) not understanding other cultures. 
D) not having appropriate products for export.

Question 9

While franchise outlets are throughout the world,Africa is the primary market for U.S.franchisers.

Accepted Answer

A) True 
 B)False

Question 10

A(n)________ is a business that buys and sells products in a number of countries,offering a range of services-importing,exporting,shipping,distributing,and others-to their clients.

Accepted Answer

A) foreign joint venture 
B) export trading company 
C) foreign licensee 
D) resident buying office 
A) foreign joint venture 
B) export trading company 
C) foreign licensee 
D) resident buying office

Question 11

Companies should be flexible and willing to make adjustments to their products and services,promotional campaigns,packaging,and sales techniques when selling abroad.

Accepted Answer

A) True 
 B)False

Question 12

The key to successfully establishing an international location is properly screening for the right partner company with compatible goals and products/services.

Accepted Answer

A) True 
 B)False

Question 13

How do foreign licensing and international franchising differ? Why would a small business owner choose one over the other in going global?

Accepted Answer

Foreign Licensing: Rather than sell thei

Question 14

Explain the concepts of countertrade and barter and what role they play in international business.

Accepted Answer

A countertrade is a transaction in which

Question 15

Small companies can no longer consider themselves to be strictly domestic businesses in this hotly competitive global environment.

Accepted Answer

A) True 
 B)False

Question 16

________ is the exchange of goods and services for other goods and services.

Accepted Answer

A) Countertrade 
B) Export 
C) Import 
D) Bartering 
A) Countertrade 
B) Export 
C) Import 
D) Bartering

Question 17

One of the seven ways a small business owner can "go global" is through trade intermediaries.Identify the six types of trade intermediaries and explain why a small businessperson might use each one.

Accepted Answer

∙ Export management companies (EMCs)are

Question 18

Lack of export financing remains a significant barrier to small businesses selling in foreign markets.

Accepted Answer

A) True 
 B)False

Question 19

Key to successfully establishing an international location is:

Accepted Answer

A) securing the necessary licenses to operate in the foreign country. 
B) finding the right person to manage the international office. 
C) making a substantial investment in personnel. 
D) being able to speak the language of the foreign country. 
A) securing the necessary licenses to operate in the foreign country. 
B) finding the right person to manage the international office. 
C) making a substantial investment in personnel. 
D) being able to speak the language of the foreign country.

Question 20

Describe how culture can be a barrier to "going global" and offer examples from three different countries.

Accepted Answer

The culture of a nation includes

Exam 12: Global Marketing Strategies

A small business exporting to Hungary would likely have to engage in barter or countertrade since Hungarian currency is not convertible into any other currency.

The Commercial Service International Contacts List (CSIC)and the Country Directories of International Contacts (CDIC)provide the same information but organized in different ways.

Which of the following is true about global competition?

An American executive went to a foreign country to sign a business contract.While there,he found that there were numerous government regulations his company needed to meet before closing the deal.This executive was experiencing which barrier to international trade?

________ is the primary market for U.S.franchisers.

When two small businesses in the target nation form an alliance,they have formed a foreign joint venture.

Most Export Management Companies (EMCs)are merchant intermediaries,working on a buy-and-sell arrangement with domestic small companies.

The biggest barrier to small business exports is:

While franchise outlets are throughout the world,Africa is the primary market for U.S.franchisers.

A(n)________ is a business that buys and sells products in a number of countries,offering a range of services-importing,exporting,shipping,distributing,and others-to their clients.

Companies should be flexible and willing to make adjustments to their products and services,promotional campaigns,packaging,and sales techniques when selling abroad.

The key to successfully establishing an international location is properly screening for the right partner company with compatible goals and products/services.

How do foreign licensing and international franchising differ? Why would a small business owner choose one over the other in going global?

Explain the concepts of countertrade and barter and what role they play in international business.

Small companies can no longer consider themselves to be strictly domestic businesses in this hotly competitive global environment.

________ is the exchange of goods and services for other goods and services.

One of the seven ways a small business owner can "go global" is through trade intermediaries.Identify the six types of trade intermediaries and explain why a small businessperson might use each one.

Lack of export financing remains a significant barrier to small businesses selling in foreign markets.

Key to successfully establishing an international location is:

Describe how culture can be a barrier to "going global" and offer examples from three different countries.

Entrepreneurs: the Driving Force Behind Small Business

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Strategic Management and the Entrepreneur

Choosing a Form of Ownership

Franchising and the Entrepreneur

Buying an Existing Business

New Business Planning Process: Feasibility Analysis,business Modeling,

Building a Bootstrap Marketing Plan

Creative Use of Advertising and Promotion

Pricing and Credit Strategies

E-Commerce and Entrepreneurship

Creating a Solid Financial Plan

Managing Cash Flow

Sources of Equity Financing

Sources of Debt Financing

Location,layout,and Physical Facilities

Supply Chain Management

Managing Inventory

Staffing and Leading a Growing Company

Management Succession and Risk Management Strategies in the Family Business

The Legal Environment: Business Law and Government Regulation

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