Question 1. In today’s world, every manager needs to think locally.

1. In today’s world, every manager needs to think locally.

ANS:

2. Business has become a unified, global field as trade barriers fall, communication becomes faster and cheaper, and consumer tastes converge.

ANS:

3. The second stage in the process of globalization is the international stage, where the company usually adopts a multidomestic approach.

ANS:

4. An example of global outsourcing is seen when Gap, Inc. uses low-cost Caribbean labor to cheaply produce its clothing, and then finishes off and sells its clothing in the United States.

ANS:

5. With exporting, the corporation transfers its products for sale and its production facilities in foreign countries.

ANS:

6. Seeking cheaper sources of materials or labor offshore is called offshoring.

ANS:

7. Countertrade is the barter of products for products rather than the sale of products for currency.

ANS:

8. An estimated 55 percent of world trade is countertrade.

ANS:

9. When Harbor Trades, a Korean-based company, makes resources including technology, managerial skills, and patent and trademark rights available to Nano Technologies, a Russian company whereby allowing Nano to make products similar to CBA, it is engaging in a countertrade agreement.

ANS:

10. Outsourcing is perhaps the most widespread approach to international involvement in China and India.

ANS:

11. Infrastructure management is the management of business operations conducted in more than one country.

ANS:

12. The basic management functions of planning, organizing, leading, and controlling are the same whether a company operates domestically or internationally.

ANS:

13. The sub-divisions of the international environment are the economic, the sociocultural, and the legal-political environments.

ANS:

14. Some economic environments of business include resource and product markets, language, religion, and per capita income.

ANS:

15. A country’s physical facilities that support economic activities make up its infrastructure.

ANS:

16. The criterion traditionally used to classify countries as developed or developing is per capita income.

ANS:

17. LDCs are less developed countries and tend to be found in the Southern Hemisphere including Africa, Asia and South America.

ANS:

18. Because of cheap labor, most international business firms are headquartered in the less developed countries of Asia and South America.

ANS:

19. Market risk is defined as the risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments.

ANS:

20. The countries experiencing political stability face the greatest threat of violence.

ANS:

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.