False 47 Each is composed of unique cultural political legal and economic

False 47 each is composed of unique cultural

This preview shows page 18 - 21 out of 89 pages.

False 47. Each _____ is composed of unique cultural, political, legal, and economic characteristics that define business activity within that nation’s borders. National business environment 48. Globalization is characterized by
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National boundaries becoming less relevant 49. The predecessor to the WTO was the GATT, or General Agreement on Trade and Tariffs. GATT’s original mission or purpose was to ___________ incorrect A Promote free trade 50. According to the opponents of globalization, which of the following occurs as a result of worker dislocation brought about by globalization? Lower workers’ wages in development nations 51. When services and goods are bought form foreign from and then brought into the home country the process is known as _____. Imports 52. The rise of a new international entity called the _____ suggests that any company, regardless of age, experience, and resources, can engage international business. Born global firm 53. Extranets give distributors and suppliers access to a company’s database to place orders or restock inventories electronically. True 54. Small companies selling traditional products benefit from _____. Technology that lowers the costs and difficulties of global communication Quiz 3 1. Sometimes when socioeconomic and/or political situations in a country deteriorate severely, a significant number of professionals will leave to live in another more stable country. This has been happening recently in Venezuela and Syria. This exodus of talented people is known as brain drain. True 2. When one culture’s behavioral traits take root and become common in other cultures, ___ is said to have occurred. Culture Diffusion 3. Social mobility tends to be more encouraged and the chances conflict decreased in nations characterized by low levels of class consciousness. True 4. When a culture is very tolerant of uncertainty, its members are generally less open to new ideas and change. False
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5. Culture is multifaceted of the following concepts, which deals with what a society considers to be the transcendent grace and beauty depicted in art- such as great paintings, sculptures and other masterpieces of art such as those in the world’s great museums? Aesthetics 6. Examining a country's business climate is the first step that should be taken in examining a country’s possible potential for international expansion. True 7. Scenario: Wiener Land goes international. Walt Seinfeld is the owner and President of Wally’s Wiener Land in Peoria, Illinois. After a great vacation in Asia Wally decides to take his locally successful chain international. He decides to begin with China. He decides to several of his local managers to China to assess the market potential and conduct a feasibility study. Before the team goes to China, Wally hires a reputable firm that provides intensive cross- culture training to firms seeking to expand into Asian markets. Which of the following terms best describes what Wally seeks for his team?
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  • Fall '07
  • Nicholson
  • Firm, following statements, following terms

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