Question 1

Which of the following theories suggests that firms seek to penetrate new markets over time?

Accepted Answer

Product cycle theory suggests that firms seek to penetrate new markets over time as they move through the stages of innovation, growth, maturity, and decline of a product. This theory explains how products are introduced, grow, and then are replaced by new products, leading firms to seek new markets to sustain growth.

Question 2

Market in which currencies buy and sell and their prices settle on is called the

Accepted Answer

The foreign exchange market is where currencies are bought and sold, and their prices are determined. It's a global decentralized or over-the-counter market for trading currencies.

Question 3

___ Companies are registered in one country, doing business in others.

Accepted Answer

C

Question 4

The difference between interest rates in Russia and Switzerland stands for about ___ per annum.

Accepted Answer

The answer of The difference between interest rates in Russia...

Question 5

It refers to the assumptions, values, and practices of people in the West and some elites in Non-Western cultures.

Accepted Answer

Universal Culture refers to the shared beliefs, values, and practices that are considered to be universal across different cultures, often influenced by Western norms and values. This term captures the essence of the description provided.

Question 6

___ means the high adaptation of managerial practices to a given culture, and, therefore, high effectiveness.

Accepted Answer

High fit refers to the adaptation of managerial practices to the specific culture where they are applied, leading to higher effectiveness in those settings.

Question 7

Erez and Gati proposed that the general model of multi-level analysis could be adopted for understanding the dynamics of ___.

Accepted Answer

Erez and Gati proposed that the general model of multi-level analysis could be adopted for understanding the dynamics of culture and cultural change, indicating both A and B are correct.

Question 8

State whether it is true or not: "Around the World, wherever you are, get what you want-fast from our family of Web sites."

Accepted Answer

The statement is a slogan for a company that provides online shopping services. It is true that the company can deliver products to customers around the world.

Question 9

___ has become a world-leading marketer of toys.

Accepted Answer

The answer of ___ has become a world-leading marketer of...

Question 10

The main benefits for industrial countries would come from the liberalization of their ___ market.

Accepted Answer

The main benefits for industrial countries from liberalization are often cited in the context of agriculture. This is because many industrial countries maintain significant barriers and subsidies in the agricultural sector, which distort global markets. Liberalizing these markets would not only benefit the countries themselves through increased efficiency and potentially lower food prices but also have positive effects on global trade and developing countries that are competitive in agricultural products.

Question 11

The non-tariff barriers are:

Accepted Answer

Non-tariff barriers include measures such as product standards and regulations that countries use to control the amount and types of goods that can enter or leave a country, which encompasses both product standards and requirements for product adaptation.

Question 12

What does Milton Friedman believe to be the sole responsibility of business?

Accepted Answer

Milton Friedman, a prominent economist, argued that the sole responsibility of business is to increase its profits, thereby serving the interests of its shareholders. He believed that businesses should focus on economic efficiency and leave social welfare issues to the state and non-profit sectors.

Question 13

What is the enlightened self-interest model of CSR?

Accepted Answer

The answer of What is the enlightened self-interest model of...

Question 14

What does the importance of ethical behaviour, integrity and trust call into question?

Accepted Answer

The importance of ethical behaviour, integrity, and trust in leadership and management contexts often leads to discussions about whether and how much managers should attempt to influence or change the underlying beliefs and values of their followers to align with ethical standards and practices. This is because ethical leadership involves guiding individuals towards ethical behaviors, which may sometimes require addressing and altering their personal values and beliefs.

Question 15

Which of the following would most effectively act as the primary objective of a business organisation?

Accepted Answer

The primary objective of a business organisation is to make a profit. This goal underpins the ability of the organization to sustain operations, invest in growth, and fulfill its obligations to stakeholders.

Quiz 1: International Trade and Corporate Social Responsibility