Biz Whiz Pop Quiz!

Why do companies pursue foreign investments?

• To avoid all international regulations

• To find new markets and better resources

• To reduce the quality of their services

• To increase domestic taxes

What is the main characteristic of a global strategy?

• Full customization for each local market

• Ignoring cultural differences

• Completely decentralized operations

• Standardized offerings across all markets

Which market entry strategy involves the highest level of control and financial risk?

• Exporting

• Licensing

• Wholly owned subsidiary

• Franchising

Which of the following is a national competitive advantage factor?

• Factor conditions

• Global advertising budget

• Number of hotels in a country

• Exchange rate stability

What is cultural intelligence important for?

• Hiring only local employees

• Learning a foreign language quickly

• Understanding local tax codes

• Interacting effectively across cultures

What is entrepreneurship primarily about?

A. Selling existing products in new packaging
B. Importing goods from foreign markets
C. Creating new business by recognizing and pursuing opportunities ✅
D. Outsourcing business functions to reduce costs

• Importing goods from foreign markets

• Creating new business by recognizing and pursuing opportunities

• Selling existing products in new packaging

• Outsourcing business functions to reduce costs

Which of the following is not typically part of a business plan?

• Executive summary

• End-game strategy

• Daily employee attendance log

• Environmental analysis

Which legal form limits the liability of the entrepreneur the most?

• Corporation

• Partnership

• General partnership

• Sole proprietorship

What is one of the most common reasons entrepreneurial ventures fail?

A. Too much investor involvement
B. Poor management skills ✅
C. Overspending on marketing
D. High rent prices

• High rent prices

• Too much investor involvement

• Poor management skills

• Overspending on marketing

Which of the following encourages innovation in an organization?

A. Rigid bureaucracy
B. Decentralized approval processes ✅
C. Authoritarian leadership
D. Closed-door offices

• Closed-door offices

• Authoritarian leadership

• Rigid bureaucracy

• Decentralized approval processes