Question 1

Licensing, franchising, and management contracts are all forms of international business activity. Using examples, briefly define each form. What are the advantages and disadvantages of using these forms of activity?

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Question 2

Why is relevant for today's business students to study international business and to become culturally literate?

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Question 3

What are some of the advantages and disadvantages of globalization in regards to its effects on emerging economies?

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Question 4

Explain how many scholars divided the world during the Cold War and the patterns of trade that existed among these divisions.

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Question 5

Why has there been significant growth in international trade in the service sector? What role have emerging economies, such as India, played in this growth?

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Question 6

What is an emerging economy? Provide examples of emerging economies.

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Question 7

What are the two primary methods for conducting international business? What role has globalization played in these two methods?

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Question 8

During the next decade, what trends are expected in international business activity? What are the most likely reasons for this trend?

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Question 9

International business differs from domestic business in several ways. Identify at least three of these differences and describe their implications for companies.

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Question 10

You are a manager at a small business, and the firm's CEO wants the firm to globalize. What suggestions would you offer to accomplish this task? Should the firm globalize? Why or why not?

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Quiz 1: An Overview of International Business