BOH- International Business

What is globalization?

• The increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas on a global scale.

• The process of isolating countries from each other

• The decline of international trade and communication

• The restriction of cultural exchange between countries

What are the benefits of international trade?

• Decreased economic growth, limited access to goods and services, higher prices for consumers, job loss, and strained international relations.

• Increased economic growth, access to a wider range of goods and services, lower prices for consumers, job creation, and improved international relations.

• No impact on economic growth, limited access to goods and services, higher prices for consumers, job loss, and strained international relations.

• Increased economic growth, limited access to goods and services, higher prices for consumers, job loss, and strained international relations.

How does cross-cultural communication impact international business?

• Cross-cultural communication has no impact on international business.

• Cross-cultural communication only impacts communication within a single culture.

• Cross-cultural communication only impacts local businesses.

• Cross-cultural communication impacts international business by influencing how people from different cultures interact and understand each other.

What are the different market entry strategies?

• exporting, licensing, franchising, joint ventures, and direct investment

• e-commerce, crowdfunding, angel investing, venture capital

• importing, leasing, outsourcing, mergers and acquisitions

• strategic alliances, divestitures, greenfield investments, piggybacking

What is a global supply chain?

• A global supply chain refers to the process of transporting goods within a single country.

• A global supply chain is the management of resources and activities within a single organization.

• A global supply chain is the coordination of production and distribution activities within a specific region.

• The network of organizations, resources, activities, and technologies involved in the production, distribution, and delivery of goods and services on a global scale.

What are the challenges of globalization?

• Social unrest, increased competition, job displacement, and cultural homogenization.

• Language barriers, political conflicts, technological disparities, and resource depletion.

• Trade imbalances, loss of national identity, increased pollution, and economic dependency.

• Cultural clashes, economic inequality, loss of local industries, and environmental degradation.

What are the main drivers of international trade?

• government regulations

• supply and demand, comparative advantage, and economies of scale

• tariffs and trade barriers

• currency exchange rates

How can cultural differences affect negotiations in international business?

• Cultural differences have no impact on negotiations in international business.

• Cultural differences only affect communication styles in negotiations.

• Cultural differences can affect negotiations in international business in various ways, including communication styles, negotiation strategies, decision-making processes, and time orientation.

• Cultural differences only affect decision-making processes in negotiations.

What are the advantages and disadvantages of different market entry strategies?

• Limited growth potential, limited control over operations, potential for increased competition

• Advantages: accessing new markets, diversifying revenue streams, gaining competitive advantage, reducing dependence on a single market. Disadvantages: high costs, potential risks and uncertainties, cultural and regulatory barriers, extensive research and planning.

• Limited market knowledge, potential for negative customer perception, potential for legal and regulatory challenges

• Difficulty in adapting to local market conditions, potential for cultural misunderstandings, potential for political instability

What are the key components of a global supply chain?

• suppliers, manufacturers, distributors, retailers, and customers

• manufacturers, distributors, wholesalers, and customers.

• suppliers, producers, wholesalers, and retailers.

• producers, wholesalers, transporters, and consumers.