Entrepreneurship

The first obstacle an entrepreneur must overcome on the way to creating a truly global business is ________.

• finding a joint venture partner

• learning to think globally

• locating motivated, multilingual managers for overseas assignments

• finding overseas distributors for the company's products

Foreign licensing is ________.

• required when a business buys and sells products in many countries, either in its own name or as an agent for its buyer-seller clients

• a government-owned or business-owned facility set up in a foreign country to buy products that are made there

• used by one firm (the carrier) of its overseas distribution network to sell noncompetitive products made by other firms (riders)

• an agreement in which a licenser gives a licensee in another country the right to use that licenser's patent, trademark, copyright, technology, and products in return for a percentage of the licensee's sales or profits

Domino's Pizza and McDonald's operating in Japan and Europe are examples of ________.

• foreign management companies

• joint venturing

• foreign licensing

• international franchising

________ is a transaction in which a company selling goods and services in a foreign market agrees to help promote investment and trade in that country.

• Countertrading

• Bartering

• Foreign licensing

• Exporting

________, the exchange of goods and services for other goods and services, is one way of trading with countries that lack convertible currency

• Countertrading

• Bartering

• Foreign licensing

• Exporting

Outline the eight strategies for "going global" available to the small business owner.

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