WorksheetsDoing business globally
Total questions: 18
Worksheet time: 10mins
What does globalization involve in business?
Focusing on local markets
Expanding operations worldwide
Reducing production costs
Hiring only local employees
Which of the following is an advantage of global business?
Low cost production
Risk of foreign takeovers
Access to new customers
Economies of scale
Which is a disadvantage of conducting business globally?
Different social & cultures
Higher economies of scale
Increased domestic support
Complex monetary system
What is a multinational corporation (MNC)?
A business that operates in one country
A business that hires only local workers
A nonprofit organization
A business that operates across national borders
What challenge can language differences create in global business?
Legal complications
Barriers to communication
Increased production costs
Reduced customer demand
What does ‘economies of scale’ mean in global business?
Increasing production to lower costs
Reducing product variety
Expanding operations locally
Hiring more local workers
How does American business culture generally view time?
(a)
What is the concept of 'Wa' in Japanese business culture?
Individualism
Competition
Harmony and group loyalty
Profit maximization
In Indian business culture, how is punctuality viewed?
It is not valued
It is crucial for respect and trust
It is flexible and optional
It is a rare practice
What is protectionism in global trade?
Reducing tariffs on foreign goods
Increasing foreign competition
Creating international partnerships
Supporting domestic businesses through tariffs and regulations
What is a characteristic of U.S. business culture in terms of relationships?
Individual achievements are valued highly
Relationships are prioritized over achievements
Collectivism is promoted
There is little emphasis on personal success
Why might a company pursue a joint venture in a foreign market?
To gain contacts in foreign countries
To reduce local market competition
To learn the technology, culture, & business practices of other people
To focus only on domestic sales
What is emphasized in Mexican business culture?
High employee autonomy
Strict adherence to time
Independent decision-making
Paternalism and loyalty
Why is cultural understanding essential for U.S. managers in global markets?
To increase domestic sales
To foster better business relationships abroad
To reduce product costs
To enforce U.S. customs abroad
What is a common business etiquette practice in Japan?
Being straightforward with opinions
Silence in response to disturbing questions
Rushing through meetings
Prioritizing profit over relationships
How has Vietnam’s e-commerce market impacted its business climate?
It has created significant digital business opportunities
It has reduced foreign interest in the market
It has discouraged international trade
It has resulted in higher tariffs on technology
The GDP of _____ in 2015 is expected to reach 8.3 percent, making it the world’s fastest growing large economy.
CHINA
INDIA
JAPAN
As Southeast Asia’s largest economy, Indonesia elected a new legislature and president in 2014.
YES
NO
