BA 10 - Fall 2003 - Himelstein - Module 5

BA 10 - Fall 2003 - Himelstein - Module 5 - fl Arc 70 OF...

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Unformatted text preview: fl Arc 70 OF BUSINESS ugba-1O Principles of Business December 2003 Module 5 Exam: Global Business & Entrepreneurship Dan Himelstein Instructions This is an exam-please do not talk Your books and notes must be put comple ' y .-ay, out of sight Do not open the exam until you are to ' ‘ Section 10-101 10-102 10—103 , 10-104 10-105 10-106 ' 10-107 10-108 10-109 '10-110 10-111 10-112 _ 10-113 10-114 10-115 10-116 ‘ 10-117 10-118 Do not write notes on the Scantro Keep the questions when you lea - You need a Scantron 882 ES 0' if you are wi While you are waiting Scantron: Namm Subject: Test No.: LAST, {AI v-t either, First M. 1234-5678 your Student Identification Number B, C, or D} Make sure your family name comes first! , d pick up the next syllabus and a #2 pencil; raise your hand . oegin, enter the following on your / This is the test version—you won’t know this until you open the test (1’ 2] Thne Room 1 Ch125 2 Ch330* 930 Ch125 930 Ch135 930 Ch210 11 Ch110 2 Ch325* 3 Ch325* 4 Ch125 4 Ch135 5 Ch135 5 Ch125 4 Ch230 930 Ch125 930 Ch135 930 Ch210 2 Ch110 5 Ch110 Instructor Earne, Julie Earne, Julie Corantis, Irene Granville, Gideon Belk, Jonathan Natsch, Heather Bossut, Nicolas Winslow, Jennifer Winslow, Jennifer Hall, David Hall, David Jackson, Taylor _ Bossut, Nicolas Granville, Gideon Belk, Jonathan Corantis, Irene Natsch, Heather ' Jackson, Taylor (101 m etc) This module number Your Section number: 118) 1 ugba 10 Module 5 1. 2. 5. 9999‘® 6. Which of the following 15 a government )paymentl to help a domestic business compete with foreign firms? """ / quota revenue tariff . protectionist tariff /d'. embargo / @ subsidy The UPS market entry strategy in China, outlined in the reader article "Orient Express: Just How Hard Should a U. S. Company Woo Foreign Markets", is a good example of: Think globally, act locally International foolishness c. Global marketing Small business consultants often recommend because the odds of success are better. a. external financing b. starting the business from scratch buying an existing business d./ investing overseas e. none of the above A(n) stance to social responsibility occurs when a company meets M minimu ' in its commitments to groups and individuals in its social environment. / accommodative obstructionist / proactive (d defensive / societal As the value of a country's currency falls, its balance of trade should improve. decline. remain the same. either increase or decrease. none of the above Which of the following is the key characteristic of regional common markets? a. Coordination of laws to facilitate trade amongst members b. Common external tariffs No internal tariffs All of the above None of the above 2 ugba 10 Module 5 7° Which of the following occurs when someone uses confidential information to gain from the purchase or sale of stocks? / check kiting b. a margin purchase c. going "short" /@ insider trading e. a margin sale 8.. Which method provides the best odds for a person making $1 million? a. Winning a game show b. Saving $800 a month for 30 years @ Owning a small business Winning the lottery 9. More than any other industry group,t this business form lends itself to big business. a. retailing b. wholesaling c. agriculture 10. According to lecture, Executive Director Himelstein highly recommends that entrepreneurs seek input from the following professional service providers when starting their businesses? 3. Accountant _. b. Lawyer c. Banker All of the above e. None of the above 11. Under a system of floating exchange rates, the value of a country“ s currency is determined by: a. The government of that country b. The United Nations /' The supply and demand 1n the market for that currency The political power of the country' s trading partners Countries often establish non-tariff barriers to protect domestic industries. Which of the following is NOT a non-tariff. bamer? ,1 Country-specific labeling requirements (257- Kaizen management ,e. Undermanned customs posts in remote areas /d; Japanese Keiretsus 3 ugba 10 Module 5 13. Of the following financial indicators, which one requires the most attention from the entrepreneurial venture? a. Income Statement b. Breakeven Analysis . Balance Sheet ' /,‘ Cash Flow Statement 14. Orga 'zational stakeholders can best be defined as fiividuals and businesses that own stock in a company. (I? ndividuals and groups that are directly affected by the practices of an organization. 'E the officers and key employees of an organization. d. government regulators who oversee an industry. e. competitors. 15. A government order forbidding exportation and/or 1m ortation of a particular product from a particular country is called a(n) tariff. (é? embargo. c. subsidy. d. local content law. e. quota. 16. Country A 1s an extremely efficient producer of tin. However, its climate and terrain make it difficult to produce corn. According to the theory of comparative advantage, Country A should: a. Split its production between tin and corn b. Watch the global market to see which product is bringing the highest price c. Develop its capabilities to produce com @ Concentrate its production on tin 17. What 15 the goal of the World Trade Organization? a. Promote trade by encouraging member nations to adopt fair trade policies. / b. Reduce trade barriers by promoting multilateral negotiations among member nations. / c. Establish fair procedures for resolving disputes among member nations. A1“ All of the above. None of the above. 18. The roles of shareholders, directors, and other managers in corporate decision-making are called . articles of incorporation. ‘ corporate governance. _ bylaws.‘ I d. partnership agreements. e. articles of ownership. 4 ugba 10 Module 5 19. A ' is independently owned and managed and does not dominate its market. a. corporation b. sole proprietorship ,6? small business d. artnership; f/limited liability company 20. A business plan needs to include the suggested path towards achieving a sustainable competitive advantage for the business venture outlined in the plan: (it) True. ~_/ b. False 21. According to the authors of your textbook, since its founding, NAFTA has resulted in a. an increase in jobs in Mexico, but decreases in the United States and Canada. @ an increase in jobs in Mexico, the United States, and Canada. c. a decrease in jobs in Mexico, the United States, and Canada. d. a decrease in jobs in Mexico and Canada but an increase in the United States. e. an increase in jobs in Canada, accompanied by a decrease in jobs in the United States and Mexico. 22. Which of the following international organizational strategies often represent _§te_\r§_r_al_fin_n_§ at once and WW a. licensing arrangement b independent agent ' c: ) branch office /d./ royalty arrangement ,e/ strategic alliance 23. Which of the following is not a step mentioned by the authors of your textbook to foster a company wide sense of social responsibility? . Social reSponsibility must start at the top. A committee of top managers must develop a plan. @ Governmental initiatives dictate starting a plan. " . One executive is put in charge of the firm's agenda. ‘ /e/ The organization must conduct occasional social audits. / 5 ugba 10 Module 5 24. Which of the following is NOT one of the key myths that helped drive the boom in technology stocks? a.” Technology companies can generate breathtaking grth gains in earnings, sales and productivity for years to come ,1; b”: Technology companies are not subject to ordinary economic forces Earnings are more important than prospects fk Exponential Internet grOwth has just begun and, if anything, will accelerate 2/ This time, things are different ,/ 25. According to SBA estimates, roughly of all new businesses can expect to survive for six years. a. 10 percent b, 15 percent a 40 percent ., 80 percent . e1, 90 percent 26. Which of the following type of firm conducts a significant portion of 1ts business abroad? a. an importer b. an exporter ‘53 an international firm a domestic firm the US. government 27. Which of the following is NOT one of the proposed global labor standards as outlined in lecture? a. Do not use child or forced labor b. Provide a safe working environment c. Respect workers' right to unionize 0 Regularly require more than 48—hour work weeks Pay fair wages to meet workers' basic needs 28. Which of the following sources of funds are usually relied on by individuals starting up new businesses? /a/ bond markets /‘6/ stock markets /. capital markets ' personal resources lending institutions 29. The recent fiee trade related summit meeting in Miami was held primarily to discuss: Adding new member nations to the European Union Stepping up efforts to craft a Free Trade Area of the Americas [6/ Making significant changes to the North American Free Trade Agreement d. None of the above 6 ugba 10 Module 5 30. Tim Nelson and Jim Norris have decided to start a landscaping business. One of the first things that they do is sign the , which describes the investments and responsibilities of thew/partners and makes provisions for the allocations of profits and dissolution of the business. /a’: articles of incorporation I 4/15. corporate charter @ partnership agreement , d. consent decree 31. There are many hurdles to trading in global markets. The story Executive Director Himelstein told in lecture about his client in Texas who failed to close a business deal in Japan is an example of which type of hurdle? Economic ’ . Cultural c. Currency shifts d. Legal & regulatory 32. ' A major drawback of sole proprietorships is /a.' limited liability. /b. flexibility. * p _, low startup costs. ' unlimited liability, le. high startup costs. 33. The Oil Producing and Exporting Countries (OPEC) is an example of a a. foreign direct investment. b. business office. d. quota. e. subsidy. '- 34. ‘.l e first formal declaration of consumer rights protection came in the early 7 ugba 10 Module 5 35. Companies adopting an accommodative stance to social responsibility do as little as possible to solve social or environmental problems and may deny or cover up violations. a. True False 36. Most US. workers are employed by large corporations. True C13 False 37. Globalization refers to the process by which the world economy is becoming a single, interdependent system. {9 True b. False 38. This is version D. Bubble in D for this question and write D in the identification section of your Scantron ®. If you do not answer this question, you lose the point. ...
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