Question 1

To be globally aware,you should be tolerant of cultural differences.

Accepted Answer

Being tolerant of cultural differences means acknowledging and accepting the diversity of customs, beliefs, and practices of people from different cultures. This is an important aspect of being globally aware, as it helps to promote mutual respect, understanding, and cooperation across different cultures and societies.

Question 2

Simi Khan wants to move his business into the international arena as quickly as possible;however,to be successful he must consider a variety of factors that have global dimensions.Which of the following factors would be most important to Simi Khan's computer technology business as he moves forward with his global expansion plans?

Accepted Answer

Communication and technology networks in third-world countries would be the most important factor for Simi Khan's computer technology business as he expands globally. This is because Simi's business is in computer technology, which heavily relies on communication and technology networks. Therefore, the availability and reliability of these networks in third-world countries where Simi plans to expand would be crucial in determining the success of his business. Additionally, restrictions on advertising or increasing licensing fees, as mentioned in options D and E, may also have an impact on Simi's business, but they are not as critical as the communication and technology networks factor.

Question 3

The global marketing concept views the marketplace as consisting of one primary domestic market that is complimented by several smaller regional markets.

Accepted Answer

The global marketing concept views the world marketplace as consisting of multiple and interconnected regional markets, rather than a single primary domestic market.

Question 4

Every American company is international,at least to the extent that:

Accepted Answer

The fact that events occurring abroad can affect a company's performance, be it through changes in exchange rates, political instability, or changes in consumer behavior, means that any American company is international to some extent. The other options are either incorrect (Federal law does not require outsourcing, and not all American businesses generate orders from abroad) or not relevant to the question (natural disasters do not create a greater global community).

Question 5

Of all the events and trends affecting global business today,four stand out as the most dynamic.Which of the following would be one of those events?

Accepted Answer

The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe is a major event affecting global business. This trend is creating new opportunities for companies to expand into these markets and participate in the growing global economy. The adoption of free market principles is also leading to increased competition and innovation, further shaping the global business landscape.

Question 6

For firms venturing into international marketing for the first time,the first requirement is:

Accepted Answer

A thorough and complete commitment to foreign markets is essential for firms venturing into international marketing for the first time, as it ensures that the company is fully prepared to engage with and adapt to the complexities of foreign markets.

Question 7

To avoid errors in business decisions,it is necessary to conduct a cross-cultural analysis that emphasizes the need for ethnocentrism.

Accepted Answer

To avoid errors in business decisions, it is necessary to conduct a cross-cultural analysis that emphasizes the need to avoid ethnocentrism, as it can lead to biased and inaccurate interpretations of other cultures. It is important to approach other cultures with an open and objective mindset in order to make informed business decisions.

Question 8

Strategic plans that are competitive in global markets are _____.

Accepted Answer

The answer of Strategic plans that are competitive in global...

Question 9

Of all the stages in international business,a stage called "regular foreign marketing" produces the most profound change in the orientation of the company toward markets and associated planning activities.

Accepted Answer

The stage called "global marketing" is typically where the most profound change in orientation occurs, as the company views the world as a single market and integrates its operations and strategies globally.

Question 10

Many U.S.firms do exceedingly well in the global arena.Which of the following organizations is considered to be the U.S.leader with global revenues approximated at $345 billion annually?

Accepted Answer

Wal-Mart is considered the U.S. leader with global revenues of approximately $345 billion annually. The other options listed have lower global revenues.

Question 11

According to the text,all of the following events have impacted international business EXCEPT:

Accepted Answer

The text mentions four events that have impacted international business: the Indian Ocean tsunami in 2004, the high-tech bust of 2001, the 2003 SARS outbreak in Asia, and the September 11, 2001 disasters. The steroids in major league sports scandal is not mentioned in the text as an event that has impacted international business.

Question 12

Foreign investment is a two-way street.An organization (through investment and acquisition)from which of the following countries now controls all United Kingdom rail freight business and runs the queen's private train via its English,Welsh,& Scottish Railway unit?

Accepted Answer

The answer of Foreign investment is a two-way street.An organization...

Question 13

If a company uses a strategic orientation called domestic market extension,it views its international operations as secondary to and an extension of its domestic operations.

Accepted Answer

This statement accurately describes the domestic market extension strategic orientation, which emphasizes the company's focus on its domestic market and views international operations as a way to extend its reach rather than as a primary focus.

Question 14

___________ is the performance of business activities designed to plan,price,promote,and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit.

Accepted Answer

The definition provided in the question pertains to the concept of international marketing, which involves the performance of business activities to sell goods or services in more than one country for the purpose of generating profit. Global management refers to the process of managing a company's operations across multiple countries, while global business refers to the conduct of business on an international scale. Marketing, in general, refers to the process of promoting and selling goods or services to customers, while the global marketing concept pertains to the idea of using a standardized marketing approach across different countries and cultures.

Question 15

Companies from ____________________ lead in foreign investment in the United States:

Accepted Answer

According to the Bureau of Economic Analysis, the United Kingdom was the leading foreign investor in the United States in 2019, followed by Canada and Japan. Saudi Arabia, Russia, and China do invest in the United States, but they are not the top investors.

Question 16

Foreign investment in the United States is growing yearly.At present,foreign investment in the United States is in excess of $16.3 ______________.

Accepted Answer

Foreign investment in the United States is substantial, and figures in the trillions of dollars, not millions, billions, or thousands.

Question 17

International __________ play an important role in promoting global peace and prosperity.

Accepted Answer

Trade and marketing allow for countries to exchange goods and services, creating interdependence and increasing the likelihood of peaceful interactions. It also provides opportunities for economic growth and development, promoting global prosperity. Foreign aid and treaties also play a role in promoting peace and prosperity, but they are not as directly involved in promoting economic relationships between countries. Competition and consumer spending and consumer and industrial services are not directly related to international efforts for promoting global peace and prosperity.

Question 18

To be globally aware,you should require that all of your international customers know about your cultural rules and adhere strictly to each one.

Accepted Answer

Being globally aware involves understanding and respecting cultural differences, not imposing one's own cultural rules on others. It is important to have open communication and mutual respect with international customers, but imposing strict adherence to one's own cultural rules can be seen as ethnocentric and inconsiderate of diversity. Instead, companies should strive for cultural sensitivity and flexibility in adapting to different cultural norms.

Question 19

All of the following events and trends are among the four major trends described in the chapter as having a major impact or effect on global business EXCEPT:

Accepted Answer

The trend toward decreasing OPEC profits as oil reserves decline in the 21st century is not mentioned as one of the four major trends having an impact on global business in the chapter. The other options are all mentioned as major trends with significant effects on global business.

Question 20

If a company is in a stage designated as being one with "no direct foreign marketing," the company does not actively cultivate customers outside national boundaries.

Accepted Answer

The statement accurately describes a company in a stage with "no direct foreign marketing," meaning they are not actively seeking customers outside of their national boundaries.

Quiz 1: The Scope and Challenge of International Marketing