What is the main reason for managers to have a global mindset?

• To avoid cultural differences

• To focus only on local markets

• To understand international business

• To ignore foreign competition

What are the three main elements of the global business environment?

• Culture, Technology, and Trade

• Politics, Law, and Economics

• Marketing, Sales, and Production

• Finance, Management, and Strategy

What does globalization affect?

• Only local markets

• Only production costs

• Markets and production

• Only international laws

What are the two forces causing globalization to expand?

• High taxes and tariffs

• Falling barriers and technological innovation

• Cultural differences and language barriers

• Local businesses and regulations

What is the definition of international business?

• Only importing goods

• Business within one country

• Business transactions across borders

• Only exporting goods

What is a global mindset characterized by?

• Focusing only on local issues

• Ignoring international events

• Tolerance and knowledge

• Stereotyping cultures

What is the first step in developing tolerance?

• Avoiding foreign interactions

• Understanding other cultures

• Ignoring differences

• Promoting local customs

What is an example of technological innovation?

• Increased shipping costs

• Advancements in transportation methods

• More local businesses

• Higher taxes on imports

What is ethics in international business?

• Only focusing on profits

• Ignoring rules

• Personal behavior according to standards

• Following local customs

What is a key to success in international business?

• Ignoring customer needs

• Emphasizing global awareness

• Focusing only on local markets

• Avoiding technology