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Question
Explain the concepts of "globalization of markets" and "globalization of production."Answer
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Related questions
Q:
Which of the following staffing policies is concerned with the need for a cadre of international managers that may include many different nationalities?
A.Polycentric
B.Geocentric
C.Ethnocentric
D.Regiocentric
E.Localized
Q:
Which of the following strategies is pursued by international businesses that use management development for a strong unifying corporate culture and informal management networks to assist in coordination and control?
A.Localization
B.International
C.Transnational
D.Global standardization
E.Ethnocentric
Q:
According to Mendenhall and Oddou, expatriate managers who tend to treat foreign nationals as if they were home-country nationals lack the dimension of:
A.cultural toughness.
B.self-orientation.
C.others-orientation.
D.perceptual ability.
E.willingness to communicate.
Q:
According to Mendenhall and Oddou, perceptual ability refers to:
A.an expatriate's willingness to use the host-country language.
B.an expatriate's ability to strengthen his or her self-esteem.
C.an expatriate's ability to empathize.
D.the relationship between the country of assignment and how well an expatriate adjusts to a particular posting.
E.the ability to develop long-lasting friendships with host-country nationals.
Q:
According to R. L. Tung's study, which of the following is the most important reason for expatriate failures for U.S. multinationals?
A.Inability of spouse to adjust
B.Difficulties with new environment
C.Insufficient pay
D.Personal or emotional problems
E.Lack of technical competence
Q:
Which of the staffing policies requires all the expatriates to be home-country nationals who are transferred abroad?
A.Geocentric
B.Ethnocentric
C.Polycentric
D.International
E.Domestic
Q:
Which of the following staffing policies relies extensively on the use of expatriate managers?
A.Global
B.Polycentric
C.Transnational
D.Ethnocentric
E.Localized
Q:
From mid-2008 through early 2009, the value of the dollar moderately increased against major currencies, despite the fact that the American economy was suffering from a serious financial crisis. Which of the following was a reason for this phenomenon?
A.High real interest rates in the United States compared to any other developed region in the world sparked an inflow of funds into the country.
B.U.S. assets were characterized by a high-risk, high-return payoff which prompted foreign investors to park their funds.
C.Foreign investors were excited at the possibility of high returns following the government bail-out of financial institutions.
D.Foreign investors put their money in low-risk U.S. assets such as low-yielding U.S. government bonds.
E.Foreign investors saw opportunities in the United States as the level of indebtedness had begun to reduce.
Q:
Which of the following explains the rise of the dollar against most major currencies in the late 1990s, even though the United States was still running a significant balance-of-payments deficit?
A.Reduced government intervention in the foreign exchange market
B.Increased foreign investments in U.S. financial assets
C.Low real interest rates in the United States compared to the rest of the world
D.Increased exports as opposed to imports
E.Increased communism in the United States
Q:
In January 1976, which one of the followed revised the International Monetary Fund's Articles of Agreement to reflect the new reality of floating exchange rates?
A.Jamaica agreement
B.Bretton Woods agreement
C.Marshall Plan
D.General agreement on Tariffs and Trade
E.Plaza Accord
Q:
Under the U.S. macroeconomic policy package of 1965-1968, President Lyndon Johnson backed an increase in U.S. government spending that was financed by an increase in the money supply, resulting in:
A.increased exports.
B.a rise in price inflation.
C.increased taxes.
D.a positive trade balance.
E.an increase in the worth of currency.
Q:
The collapse of the fixed exchange rate system has been traced to the:
A.U.S. macroeconomic policy package of 1965-1968.
B.inflexibility of the fixed exchange rate system that led to high unemployment.
C.Marshall Plan, under which the United States lent money heavily to European nations.
D.failure of the International Monetary Fund to impose monetary discipline.
E.increased taxes in the United States to finance its welfare programs.
Q:
Which of the following observations about the International Development Association (IDA) scheme of the World Bank is true?
A.Money is raised through bond sales in the international capital market.
B.Borrowers have up to 50 years to repay at an interest rate of less than 1 percent a year.
C.IDA loans go only to European countries.
D.Grants and interest-free loans are denied to governments of underdeveloped nations.
E.The bank offers loans only to customers with a satisfactory credit rating.
Q:
Which of the following was a reason that led to the collapse of the gold standard in 1939?
A.Difficulty and complexity in using the gold standard to determine the exchange rate
B.Agreement by governments to convert paper currency into gold on demand at a fixed rate
C.A cycle of competitive currency devaluations by various countries
D.Expansion in the volume of international trade in the wake of the Industrial Revolution
E.The inability of the gold standard to act as a mechanism for achieving balance-of-trade equilibrium by all countries
Q:
Certovia and Norkland are two neighboring countries that actively trade goods and services with each other. Under the gold standard, there will be a net flow of gold from Norkland to Certovia when:
A.Certovia is in trade deficit with Norkland.
B.Norkland is in balance-of-trade equilibrium with Certovia.
C.Certovia is in trade surplus with Norkland.
D.Certovia imports more than it exports to Norkland.
E.Norkland's balance of payment to Certovia is favorable.
Q:
Which of the following statements is true about the gold standard?
A.Given a common gold standard, the value of any currency in units of any other currency was easy to determine.
B.Establishing a gold standard seemed impractical as the volume of international trade expanded in the wake of the Industrial Revolution.
C.A drawback of the gold standard was that it failed to provide a mechanism for achieving balance-of-trade equilibrium by all countries.
D.Under the gold standard, when a country has a trade deficit, there will be a net flow of gold from the other countries to that country.
E.The gold standard refers to the use of gold coins as a medium of exchange between countries involved in international trade.
Q:
Describe the advantages and disadvantages of acquisitions.
Q:
Describe the disadvantages of licensing as a mode of entry into the foreign market.
Q:
If a firm is considering entering a country where incumbents exist, and if the competitive advantage of the firm is based on the transfer of organizationally embedded competencies, skills, routines, and culture, what would be the preferable mode of entry?
A.Greenfield venture
B.Joint venture
C.Licensing agreement
D.Franchising deal
E.Turnkey project
Q:
Which of the following postulates that top managers typically overestimate their ability to create value from an acquisition?
A.Bandwagon effect
B.Fisher effect
C.Hubris hypothesis
D.International Fisher effect
E.Learning effect
Q:
Which of the following is an advantage of acquisitions as a means of entering foreign markets?
A.They are quick to execute and help firms to rapidly build their presence in the target foreign market.
B.It is much easier to change the culture of an existing organization than build a new organization.
C.It is easier to convert the operating routines of acquired units than establish routines in new subsidiaries.
D.They give firms access to valuable intangible assets while minimizing a pileup of tangible assets.
E.Acquired firms are often undervalued and hence assets can be purchased at minimal prices.
Q:
Why do firms pursuing global standardization or transnational strategies tend to prefer establishing wholly owned subsidiaries?
A.It gives firms sound knowledge of the local markets, culture, and the political environment.
B.It helps protect competitive advantages based on technology.
C.It allows firms to use the profits generated in one market to improve its competitive position in another market.
D.It is the most politically accepted mode of entry into foreign markets.
E.It has the least costs and risks associated with developing a foreign market.
Q:
What gives a firm tight control for coordinating a globally dispersed value chain?
A.Signing joint-venture agreements
B.Installing manufacturing units in locations with optimal factor conditions
C.Setting up wholly owned marketing subsidiaries
D.Establishing a greenfield venture
E.Using foreign marketing agents
Q:
Which of the following is a disadvantage of wholly owned subsidiaries as a mode of entry into foreign markets?
A.Lack of control over quality
B.High costs and risks
C.Problems with local marketing agents
D.Inability to engage in global strategic coordination
E.Lack of control over technology
Q:
Which of the following statements is true about the various exchange rate systems?
A.In a fixed exchange rate system, the value of a currency is adjusted according to the day to day market forces.
B.In a clean float, the central bank of a country will intervene in the foreign exchange market to try to maintain the value of its currency.
C.After the collapse of the Bretton Woods system of floating exchange rates in 1973, the world has operated with a fixed exchange rate system.
D.Under the Bretton Woods system, currency devaluations over 10 percent were allowed only with the approval of the IMF.
E.In dirty float, the exchange rate between a currency and other currencies is relatively fixed against a reference currency exchange rate.
Q:
Which of the following refers to a system under which the exchange rate for converting one currency into another is continuously adjusted depending on the laws of supply and demand?
A.Fixed exchange rate
B.Floating exchange rate
C.Forward exchange rate
D.Pegged exchange rate
E.Nominal exchange rate
Q:
In the face of unpredictable exchange rate movements, a firm should pursue strategies that reduce its economic exposure.
Q:
The International Monetary Fund can force countries to adopt the policies required to correct economic mismanagement.
Q:
Since March 1973, currency exchange rates have become less volatile and more predictable than they were between 1945 and 1973.
Q:
Under the fixed exchange rate system, the dollar could be devalued only if all countries agreed to simultaneously revalue against the dollar.