Starting a new venture in a foreign country by constructing new operational facilities from the ground up. Also known as "wholly owned subsidiary"

Starting a new venture in a foreign country by constructing new operational facilities from the ground up. Also known as "wholly owned subsidiary"

a) blank slate startup
b) Greenfield venture
c) New beginnings venture
d) international venture

Answer: All.

Some critics further suggest that globalization promotes a "___" that drives down wage rates and creates pressure to eliminate labor laws (particularly in developing countries)

Some critics further suggest that globalization promotes a "___" that drives down wage rates and creates pressure to eliminate labor laws (particularly in developing countries)

a) leading mark
b) race to the bottom
c) headstart
d) downfall

Answer: B

This works against treating the world as a single global marketplace.

This works against treating the world as a single global marketplace.

a) National differences in consumer behavior
b) National differences in business systems

Answer: B

There are still major differences between nations in business systems, legal systems, infrastructure, and overall level of economic development.

There are still major differences between nations in business systems, legal systems, infrastructure, and overall level of economic development.

a) National differences in consumer behavior
b) National differences in business systems

Answer: B

Consumer tastes and preferences vary across nations and cultures. However, consumer tastes and preferences can change over time.

Consumer tastes and preferences vary across nations and cultures. However, consumer tastes and preferences can change over time.

a) National differences in consumer behavior
b) National differences in business systems

Answer: A

Like consumer tastes and preferences, these factors can also change over time.

Like consumer tastes and preferences, these factors can also change over time.

a) National differences in consumer behavior
b) National differences in business systems

Answer: B

Business leaders insist that economic benefits flow back to the U.S. economy in the form of all except:

Business leaders insist that economic benefits flow back to the U.S. economy in the form of all except: 

a) Lower prices
b) Expanded markets
c) Increased jobs
d) Increased profits that can fund innovation

Answer: C

Is another potential drawback of globalization

Is another potential drawback of globalization

a) neutralization
b) out sourcing
c) homogeneity
d) ethnocentric

Answer: C

(BOP) stands for:

(BOP) stands for: 

a) Biggest of Pyramid
b) Buyers of Pyramid
c) Bottom of Pyramid

Answer: C

_______ companies are starting to adopt BOP strategies.

_______ companies are starting to adopt BOP strategies.

a) less
b) more and more
c) not many
d) all

Answer: B

More than ___ billion people make up the lowest level of the world's economic "pyramid".

More than ___ billion people make up the lowest level of the world's economic "pyramid".

a) 1
b) 3
c) 5
d) 4

Answer: D

The United States' primary concerns is the

The United States' primary concerns is the 

a) loss of money
b) loss of market share
c) loss of jobs
d) loss of citizens

Answer: C

___ of Americans believe free trade has hurt the United States.

___ of Americans believe free trade has hurt the United States.

a) 23%
b) 33%
c) 53%
d) 63%

Answer: C

A tendency to regard your own culture as superior

A tendency to regard your own culture as superior

a) ethnocentrism
b) pride
c) superiority
d) excellence

Answer: A

Which one of these is NOT a cultural characteristic:

Which one of these is NOT a cultural characteristic: 

a) Religion
b) Social Organization
c) Family
d) Attitudes

Answer: C

People use communication primarily to exchange facts and information. Meaning derived primarily from words. Business more important than building relationships and trust Individual's welfare and achievement more important than group's.

People use communication primarily to exchange facts and information. Meaning derived primarily from words. Business more important than building relationships and trust Individual's welfare and achievement more important than group's.

a) low-context
b) mid-context
c) high-context
d) neutral-context

Answer: A

People are sensitive to circumstances surrounding social exchanges. Meaning derived form context (setting, status, nonverbal cues)Relationships and trust more important than business. Group's welfare and harmony more important than individual's

People are sensitive to circumstances surrounding social exchanges. Meaning derived form context (setting, status, nonverbal cues)Relationships and trust more important than business. Group's welfare and harmony more important than individual's

a) low-context
b) mid-context
c) high-context
d) neutral-context

Answer: C

Social rules and guidelines that prescribe appropriate behavior in particular situations.

Social rules and guidelines that prescribe appropriate behavior in particular situations.

a) norms
b) Social Culture
c) Distal culture
d) Common culture

Answer: A

The system of values and norms that are held in common by people living in a society

The system of values and norms that are held in common by people living in a society

a) norms
b) Social Culture
c) Distal culture
d) Common culture

Answer: B

Licensing of a good or service and business model to partners for specified fees (usually a signing fee and a percentage of the franchisee's revenues or profits)

Licensing of a good or service and business model to partners for specified fees (usually a signing fee and a percentage of the franchisee's revenues or profits)

a) franchising
b) licensing
c) exporting
d) patent

Answer: A