Set of flashcards IntBus ZHAW (Page 3 of 7)

Flashcards	265
Language	English
Category	Micro-Economics
Level	University
Created / Updated	22.11.2021 / 07.03.2024
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A firm that owns the activities performed in a single stage of its value chain is demonstrating

centralization

reverse integration

horizontal integration

decentralization

Which of the following terms is used to refer to a focal firm's partial ownership of an existing firm?

equity participation

turnkey operation

direct investment

greenfield investment

Which of the following is a characteristic of project-based, nonequity ventures?

a broad scope of product development

long-term sharing of resources

formation of a new legal entity

a specific agenda and timeframe

A consortium is defined as

multiple partners participating on a large-scale project

the purchase of an existing company or facility

two partners forming a new legal entity

an equity venture to consolidate the value chain

Which of the following dimensions refers to the buying power of the country's residents?

market consumption capacity

market size

market growth rate

market intensity

Trade audits may provide managers insight regarding ________.

competitors' offerings and pricing

manufacturing cost estimates

market fluctuation tendencies

company employee opinions

Which of the following is an acronym for a diagnostic tool used by organizations to determine international readiness?

CORE

PEST

SWOT

PERT

Private consumption as a percentage of GDP is used to measure ________.

market growth rate

market intensity

market size

market receptivity

According to the Market Potential Indicators index, ________ is an indicator of market size.

population per retail outlet

urban population and electricity consumption

telephones per 100 habitants

real GDP growth rate

Which of the following statements most likely supports CCC managers selecting Business Partner Y instead of Business Partner Z?

Business Partner Y is fairly young and hence requires experience in the food and beverage industry.

Business Partner Y has the most experience in the automobile industry but now wants to venture into the food and beverage industry.

Business Partner Y has a good reputation in the marketplace.

Business Partner Y has distinct goals and objectives compared to CCC.

The term industry market potential can best be defined as the ________.

forecast of a firm's sales in a specific market

predicted industry sales over a particular period of time

anticipated market growth and expansion

expected competition within a foreign market

A country's population is referred to as ________.

market size

market intensity

market receptivity

market growth rate

Born global firms are ________.

young companies that internationalize early in their evolution

young companies that focus on the ratio of production costs rather than the absolute cost of production

companies that forgo the domestic focus stage of the internationalization process

companies that focus mainly on running a trade surplus

In the ________ stage of the internationalization process, a firm targets numerous foreign markets via various entry modes, especially FDI.

domestic focus

committed involvement

experimental involvement

pre-export

When a country is not able to produce a good more efficiently than other nations, but produces the good more efficiently than it does any other good, it is said to have a 👎 ________.

resource advantage

first-mover advantage

comparative advantage

absolute advantage

According to Porter's competitive advantage of nations, ________ refer to the nature of home-market demand for specific products and services.

firm strategy, structure, and rivalry

demand conditions

factor conditions

demand liabilities

Which of the following comparative advantages is acquired over time?

Arable land

Petroleum reserves

Labor

Innovative capacity

Nations running a trade surplus ________.

import more goods than they export

export more goods than they import

rely solely on imports

openly discourage export

In which of the following stages of the internationalization process is a firm preoccupied with business in its home market?

domestic focus

pre-export

experimental involvement

active involvement

International entrepreneurship is a new field of scholarly inquiry that is a result of the ________ phenomenon.

born global

industrial cluster

standardization

localization

Which of the following is an example of a location-specific advantage?

proprietary knowledge

the ability to reduce buyer uncertainty

skilled labor

managerial skills

Which of the following is TRUE about the theory of absolute advantage?

The theory approves the objective of national governments to acquire wealth through restrictive trade policies.

The theory emphasizes that nations should open their doors to trade so that people can obtain more goods at cheaper rates.

The theory measures a nation's wealth by how much gold and silver it has on reserve.

The theory accepts the mercantilist idea that international trade is a zero-sum game.

According to Michael Porter, a nation's factor endowments help determine its ________.

demand conditions

comparative advantage

national competitive advantage

negative balance of trade

Which of the following is TRUE with regard to firm-level theories?

Firm-level explanations address the question: "Why do nations trade?"

Firm-level theories are classical theories, widely accepted since the sixteenth century.

Firm-level explanations address the question: "How can internationalizing firms gain and sustain competitive advantage?"

Firm-level theories do not address the issue of organizational performance.

Which Integration and Coordinating Mechanisms do you know?

Explain the Integration-responsiveness framework: global integration & local responsiveness with the 4 alternative strategies.

Which are the key strategic objectives to be globally competitive?

In establishing a firm's organizational structure, a fundamental issue is ________.

how much decision-making responsibility the firm should retain at headquarters

how the firm should invest in human assets

how to leverage natural endowments available to the firm

how to optimize local responsiveness and flexibility

Companies that proactively build a global organizational culture will ________.

adopt multiple corporate languages for business communications

maintain a global perspective in all major initiatives

subscribe to ethical standards developed in the home market to avert misunderstanding

promote independent headquarters and subsidiaries to avoid miscommunication

A ________ strategy is characterized by substantial control over country operations by headquarters in order to increase efficiency and integration.

international

home replication

global

multidomestic

A culturally diverse team would ________.

use diverse languages for business communications across various teams across the globe

create a global view inside the firm while remaining in touch with local realities

follow country-specific ethical standards across the globe

use local employees, for accountability, for all major company decisions

Strategy is ________.

the procurement of selected value-chain activities, including production of intermediate goods or finished products, from independent suppliers

a planned set of actions that managers employ to make the best use of the firm's resources and core competencies to gain competitive advantage and accomplish organizational objectives

the pattern of shared values, behavioral norms, systems, policies, and procedures that employees learn and adopt

a quality of executive management that provides inspirational guidance and motivation to personnel, leading the firm to a better future

International division managers usually oversee ________.

product development

corporate accounting

large-scale investments

distributor relationships

Which of the following is characteristic of a global industry?

Competition is designed on a country-by-country basis.

A small number of major players compete head-on in multiple markets.

Numerous firms compete within the industry worldwide.

Different marketing activities are designed to meet local needs across the globe.

Which of the following characterizes a multidomestic strategy?

Subsidiary managers adapt products and services to meet local needs.

The firm allows subsidiaries to standardize products and services across countries.

Firm executives control all subsidiaries to maximize efficiency.

Management practices are universal across local businesses.

When developing strategies, managers start by ________.

configuring and coordinating the firm's activities around the world

examining the firm's specific strengths and weaknesses

deciding which customers to target

analyzing the particular opportunities and challenges that confront the firm

A firm would be compelled to seek global integration when it has to ________.

adjust to cultural differences

cater to local customer needs

capitalize on converging consumer trends and universal needs

accommodate differences in distribution channels

________ refers to using the resources of the firm, without wasting any of them.

Protectionism

Flexibility

Currency control

Efficiency

Firms that emphasize global integration make and sell ________.

an excessive variety of complex products

products designed specifically for local markets

products that require minimal adaptation

unique products that follow a multi-local strategy

Which of the following organizational arrangements for foreign operations is most closely associated with home replication strategy?

export department

product structure

international division

geographic area structure

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