International Business

Which one of the following modes of entry brings the firm closer to international markets?

• Licensing

  
  

• Franchising

• Contract manufacturing

• Joint venture

When two or more firms come together to create a new business entity that is legally separate and distinct from its parents, it is known as ______.

• Contract manufacturing

• Franchising

• Joint ventures

• Licensing

______is the application of knowledge that redefines the boundaries of global business.

• Technology

• Society

• Economy

• Cultural Values

What is the impact of technology on global business?

• Increased efficiency

• Decreased competition

• Isolation from global markets

• Reduction in innovation

What is the significance of joint ventures in international business?

• Increased market reach

• Decreased risk

• Isolation from global markets

• Reduction in innovation

How does franchising contribute to global business expansion?

• Standardization of products and services

• Decreased competition

• Isolation from global markets

• Reduction in innovation

Which of the following is not an advantage of exporting?

(a) Easier way to enter into international markets

(b) Comparatively lower risks

(c) Limited presence in foreign markets

(d) Less investment requirements

• (a) Easier way to enter into international markets

• (b) Comparatively lower risks

• (c) Limited presence in foreign markets

• (d) Less investment requirements

What are the advantages of strategic alliances in global business?

• Access to new markets

• Increased competition

• Isolation from global markets

• Reduction in innovation

How does outsourcing impact global business?

• Cost reduction

• Decreased efficiency

• Isolation from global markets

• Reduction in innovation

What role does cultural diversity play in international business?

• Enhanced creativity and innovation

• Decreased collaboration

• Isolation from global markets

• Reduction in efficiency