International Business Quiz

What is the foundation of International Business (IB) ?

• A marketing strategy for local markets

• An approach based on exports and imports only

• Realization that business is no longer local and economies are interconnected globally

• A system to avoid trade between countries

According to Gary Ferraro (2002), what defines a Global Manager?

• A manager who only applies international rules

• A 'global brain' able to work across cultures and succeed internationally

• A leader focused only on domestic markets

• A professional specialized only in global finance

Which of the following is NOT a reason why firms globalize?

• Access to new markets

• Obtaining resources and knowledge

• Improving competitiveness and reducing costs

• Avoiding contact with other cultures

Which management orientation assumes that 'the home country is superior and what works there will work everywhere'?

• Geocentric orientation

• Polycentric orientation

• Ethnocentric orientation

• Epicentric orientation

Which of the following is NOT listed as a key competency of a Global Manager?

• Cultural adaptability

• International business knowledge

• Holistic perspective

• Avoiding foreign markets

What does 'political risk' in international business refer to?

• The likelihood of currency fluctuations

• The possibility of government actions or instability affecting business operations

• The challenges of understanding foreign languages

• The cost of international travel

Which of the following is NOT an example of a legal system mentioned in the lecture?

• Civil law

• Common law

• Religious law

• Corporate law

What is 'confiscation' in the context of international business?

• The government takes foreign assets without compensation

• The government provides full market access to foreign firms

• A negotiated tax settlement between a firm and the host country

• An agreement to share technology with local firms

Which dimension of culture according to Hofstede relates to the extent to which people accept inequality in ralationships?

• Individualism

• Power distance

• Masculinity

• Uncertainty avoidance

In Hall's model of high- and low-context cultures, which is characteristic of high-context cultures?

• Messages are explicit and detailed

• Relationships and non-verbal cues are essential in communication

• Contracts carry more weight than personal agreements

• Speed and efficiency are prioritized in negotiations