100%(9)9 out of 9 people found this document helpful
This preview shows page 18 - 21 out of 89 pages.
False47. Each _____ is composed of unique cultural, political, legal, and economic characteristics thatdefine business activity within that nation’s borders.National business environment48. Globalization is characterized by
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 APromote free trade50. According to the opponents of globalization, which of the following occurs as a result ofworker dislocation brought about by globalization?Lower workers’ wages in development nations51. When services and goods are bought form foreign from and then brought into the homecountry the process is known as _____.Imports52. 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 firm53. Extranets give distributors and suppliers access to a company’s database to place orders orrestock inventories electronically.True54. Small companies selling traditional products benefit from _____.Technology that lowers the costs and difficulties of global communicationQuiz 31.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. Thishas been happening recently in Venezuela and Syria. This exodus of talented people isknown as brain drain.True2.When one culture’s behavioral traits take root and become common in other cultures, ___ issaid to have occurred. Culture Diffusion3.Social mobility tends to be more encouraged and the chances conflict decreased in nationscharacterized by low levels of class consciousness. True4.When a culture is very tolerant of uncertainty, its members are generally less open to newideas and change. False
5.Culture is multifaceted of the following concepts, which deals with what a society considersto be the transcendent grace and beauty depicted in art- such as great paintings, sculpturesand other masterpieces of art such as those in the world’s great museums?Aesthetics6.Examining a country's business climate is the first step that should be taken in examining acountry’s possible potential for international expansion.True7.Scenario: Wiener Land goes international. Walt Seinfeld is the owner and President ofWally’s Wiener Land in Peoria, Illinois. After a great vacation in Asia Wally decides to take hislocally successful chain international. He decides to begin with China. He decides to severalof 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 termsbest describes what Wally seeks for his team?