KIM EXAM 1 MAN 3600 UPDATED ACTUAL Questions and CORRECT Answers
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Course
MAN 3600
Institution
MAN 3600
KIM EXAM 1 MAN 3600 UPDATED
ACTUAL Questions and CORRECT
Answers
The Nature of International Business - CORRECT ANSWER- - all value-adding
activities (including sourcing, manufacturing, and marketing ) can be performed in
international locations.
What can international trade involve? - CO...
KIM EXAM 1 MAN 3600 UPDATED
ACTUAL Questions and CORRECT
Answers
The Nature of International Business - CORRECT ANSWER- ✔✔- all value-adding
activities (including sourcing, manufacturing, and marketing ) can be performed in
international locations.
What can international trade involve? - CORRECT ANSWER- ✔✔Products, services,
capital, technology, know-how, and labor.
How do firms internationalize? - CORRECT ANSWER- ✔✔through various entry strategies,
such as exporting and foreign direct investment (FDI)
Dimensions of International Business - CORRECT ANSWER- ✔✔- Globalization of markets
- International Trade
- International Investment
- International Business risks
- Participants (firms, intermediaries, facilitators, governments)
- Foreign Market Entry Strategies
International Business - CORRECT ANSWER- ✔✔Performance of trade and investment
activities by firms across national borders
(MNE or MNC)
Globalization of Markets - CORRECT ANSWER- ✔✔ongoing economic integration and
growing interdependency of countries worldwide
International Trade - CORRECT ANSWER- ✔✔Exchange of products and services across
national borders, typically through exporting and importing
,exporting - CORRECT ANSWER- ✔✔Sale of products or services to customers located
abroad
Importing (or global sourcing) - CORRECT ANSWER- ✔✔procurement (to obtain) of
products or services from suppliers located abroad for consumption in the home country or a
third country
International investment - CORRECT ANSWER- ✔✔The transfer of assets to another
country or the acquisition of assets in that country. Also known as 'foreign direct investment'
(FDI), we will focus on this type of investment
International Portfolio investment - CORRECT ANSWER- ✔✔passive ownership of foreign
securities such as stocks and bonds for the purpose of generating financial returns
Leading countries in international *merchandise trade* by total annual value in $billions -
CORRECT ANSWER- ✔✔1. China
2. US
3. Germany
4. Japan
5. France
Leading countries in international *merchandise trade* by % of GDP - CORRECT
ANSWER- ✔✔1. Belgium
2. Netherlands
3. South Korea
4. Germany
5. Canada
Leading countries in international *service trade* by total annual value in $billions -
CORRECT ANSWER- ✔✔1. US
2. China
3. Germany
4. UK
, 5. France
Leading countries in international *service trade* by % of GDP - CORRECT ANSWER-
✔✔1. Ireland
2. Singapore
3. Hong Kong (China)
4. Denmark
5. Netherlands
Types of IB risks - CORRECT ANSWER- ✔✔- cross-cultural risks
- country risks
- currency risks
- commercial risks
(always present but manageable; managers need to understand, anticipate, and take proactive
action to reduce their effects; some risks are extremely challenging.)
Cross-Cultural risks - CORRECT ANSWER- ✔✔Cultural Differences: Risk arising from
differences in language, lifestyle, attitudes, customs, and religion, where a cultural
miscommunication jeopardizes a culturally-valued mindset or behavior.
Negotiation Patterns: Negotiations are required in many types of business transactions.
Decision-Making styles: managers make decisions continually on the operations and future
direction of the firm
Ethical Practices: standards of right and wrong vary considerably around the world.
Country (political) risks - CORRECT ANSWER- ✔✔- government intervention,
protectionism, and barriers to trade and investment
- bureaucracy, red tape, administrative delays, corruption
- lack of legal safeguards for intellectual property rights
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