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Questions and Answers of International business

Recommend a strategy that management at a large biopharmaceutical firm should employ to reduce the likelihood of political and legal risks that such firms face. What steps should management take to
Consult the TRIPS agreement at the WTO portal (www.wto.org). What are the latest developments regarding this treaty? What types of protection does this treaty provide to pharmaceutical firms? What
Consult www.phrma.org, the Pharmaceutical Research and Manufacturers of America. What steps is the branded industry taking to address the various ethical issues it faces, such as providing affordable
People need medications, but the poor often cannot afford them. Governments may not provide subsidies for health care and medications. Meanwhile, biopharmaceutical firms focus their R&D on compounds
Specify the types of country risks that biopharmaceutical firms face in international business. How do the political and legal systems of countries affect the global biopharmaceutical industry? L01
What are the possible ways forward in the Galileo dilemma if the United Kingdom leaves the European Union as planned? Discuss the available options and their likelihood. L01
The United Kingdom’s reactions to the EU stance have been varied, but all of them amount to strong disagreement. What claim can the United Kingdom put forward in opposition to this position? Is
Galileo is one of many ongoing EU initiatives in aerospace that the United Kingdom, as a member state, takes part. Why has Galileo attracted all this attention and controversy compared to others,
Know about managing country risk. L01
Identify the types of country risk produced by legal systems. L01
Identify the types of country risk produced by political systems. L01
Describe the participants in political and legal systems. L01
Understand legal systems. L01
Understand political systems. L01
Describe political and legal environments in international business. L01
The World Bank works to alleviate world poverty and provides information about conditions in developing countries, which it uses to measure progress in economic and social development. World
Volvo (www.volvo.com) and Pilkington (www.pilkington.com) are major multinational firms with operations that span the globe. Investigate these firms by visiting their websites as well as
Suppose your company is interested in importing wines from Argentina. In analyzing this opportunity, you want to identify the strengths and weaknesses of the Argentine wine industry. What are the
Ethical Dilemma: To reduce poverty in Africa, government officials want to increase African exports to Europe. Africa’s top exports include agricultural products, such as meat, coffee, peanuts, and
Economist Lester Thurow once posed the question “If you were the president of your own country and could specialize in one of two industries, computer chips or potato chips, which would you
According to the Observatory of Economic Complexity(OEC), Australia exports 152 products that display the characteristics of comparative advantage. The OEC defines this in slightly different terms
Are collaborative ventures the best option when a business has little knowledge of the market?.L01
Industrial clusters can be valuable tools for a country’s economy. Identify three global examples and describe their development. Do not choose your own country..L01
There is a tendency for organizations to move from simple exporting operations to FDI over a period of time. Why is this often the case? What might slow or stop the process?.L01
Do you believe your country should adopt a national industrial policy? Why or why not?.L01
How does factor proportions theory compare to international product life cycle theory?.L01
Summarize factor proportions theory. What factors are most abundant in China, Japan, Germany, Saudi Arabia, and the United States? Visit globalEDGE™for helpful information..L01
What is the difference between the concepts of absolute advantage and comparative advantage?.L01
Describe the classic theories of international trade.Which theories do you believe are relevant today?.L01
In terms of Dunning’s eclectic paradigm, describe the ownership-specific advantages, location-specific advantages, and internalization advantages that Unilever holds. Which of these advantages do
Discuss Unilever and its position in the FMCG industry in terms of the determinants of national competitiveness. What are the roles of demand conditions; firm strategy, structure, and rivalry; factor
What are the roles of comparative and competitive advantages in Unilever’s success? Provide specific examples of natural and acquired advantages that Unilever uses to succeed in the global FMCG
Unilever has used FDI extensively to internationalize its activities around the world. What advantages does FDI provide the firm? What steps can Unilever take to ensure its FDI ventures succeed?.L01
Describe the problems that Apple experienced with its supplier Foxconn. What steps did Apple take to resolve the problems?.L01
What is comparative advantage? How does Apple benefit from comparative advantage?.L01
Explain why most Apple products are made outside the firm’s home country, the United States..L01
How can internationalizing firms gain and sustain competitive advantage?.L01
Why and how do firms internationalize?.L01
How can nations enhance their competitive advantage?.L01
Why do nations trade?.L01
Explain the strategies internationalizing firms use to gain and sustain competitive advantage..L01
Understand why and how firms internationalize..L01
Learn about how nations can enhance their competitive advantage..L01
Explain why nations trade.L01
You have recently been hired by a smaller firm that is beginning to expand internationally. When first starting out, most firms choose exporting as their main foreign market entry strategy. However,
In this chapter, we reviewed the four major risks that firms face in international business: cross-cultural risk, country risk, currency risk, and commercial risk. Identify one or more countries that
You can gain valuable insights into international business by examining how countries compare to each other.Various research groups and international agencies systematically examine economic,
You have become the president of the International Business Club at your school. You are trying to recruit new members and find that many students do not recognize the importance of international
Your CEO has long been frustrated by poor communication, reliability, and quality from overseas suppliers. She is convinced that the acquisition of assets in the supply chain will make it more
One of your clients is convinced that there is no immediate advantage in investing in domestic businesses or markets and wants to invest abroad instead. He wants advice regarding the transfer of his
Why should you care about international business? L01
What are some of the key motivations for firms to engage in international business? L01
What is the difference between a multinational enterprise (MNE) and a small and medium-sized enterprise (SME)? L01
Who are the major participants in international business? L01
What are the various types of risks that firms face when they conduct international business? L01
What makes international business different from domestic business? L01
What is the difference between exporting and foreign direct investment? L01
Distinguish between international business and globalization of markets. L01
Why did the German government and public resist the acquisition of Mannesmann by Vodafone in late 1999? Are there any similarities with the lack of success of the company to acquire a local Chinese
Why did Vodafone expand first in the United States through the acquisition of 45 percent of AirTouch’s share, although there was no technology compatibility between North America and Europe, making
What is the underlying rationale for Vodafone’s expansion strategy to invest in the number two operator of a target country instead of the incumbent number one? L01
How has Vodafone benefited from expanding abroad? What types of advantages has the company obtained from its international expansion? What advantages acquired overseas can help Vodafone maintain its
What is the nature of the international business environments Vodafone faces? What types of risk does the firm face? L01
What role can the government play in promoting internationalization? L01
How does cooperation in international business offer competitiveness? L01
What might be the underlying motivations of emerging markets MNCs like Geely?
Learn the CKR Intangible Soft Skills™ and the CKR Tangible Process Tools™ to improve your employability and success in the workplace. L01
Appreciate why you should study international business. L01
Describe why firms internationalize. L01
Identify major participants in international business.
Understand how international business differs from domestic business. L01
Describe the key concepts in international business. L01
1. Rory Burdick’s approach was to take a difficult initial assignment in order to get into international, and from there, to build his expertise. Would such an approach work for you?2. Burdick’s
How would you find sources for a product that you saw when traveling in Myanmar and want to import to sell in your design studio?
In exporting, at what point does the risk of loss or damage pass to the buyer? Use Incoterms to explain your response. 
1. How would you evaluate Mark Haupt’s approach to preparing for travel to foreign countries?2. What do you think about Haupt’s recommendations for people interested in going abroad? Do you
1. Should home-country ethics be applied to exports?2. Should quality standards thought appropriate for the domestic market be maintained for export markets in areas such as pharmaceuticals? Should
How might you expect the practice of accounting to be different in another country?
1. How would you evaluate the list of challenges that Gunderson identifies regarding IHRM support for business success, such as relocation, talent management, recruitment, employee development,
1. How would you evaluate Chad Henry’s recommendations about how to prepare for and adjust to cultural differences when going abroad? 2. Chad Henry originally went abroad for a one-year
1. The research findings suggest that women might be better suited than men for the challenges of global leadership. Yet how could this be true, given the small number of women occupying executive
1. Why would a company allow employees to take volunteer assignments in international corporate social responsibility programs, paid by the employer?2. How could you, as a student, identify volunteer
1. How would you evaluate Isaac Rush’s efforts to understand and integrate effectively within Chinese culture, as well as to adjust to cultural differences? 2. Rush emphasizes the importance of
How can you apply the concepts of strategic planning to your own life, such as for getting a job or a better job? Which, if any, of the strategic planning approaches would not be applicable for you,
1. How would you evaluate Eduardo Rangel’s efforts to understand and integrate effectively within Chinese culture? How can such efforts help him to achieve his objective of immersing within and
1. What might have been the implications if Google stayed in China’s Internet search engine market? Would that have harmed Google’s reputation and performance elsewhere in the world? 2. What
1. How might the influences of culture work against a globalized marketplace? 2. What might account for the tendency of international trade to have remained largely within the triad nations? What
1. How would you evaluate Jason Peters’ efforts to understand and integrate effectively within Korean, Chinese and Brazilian cultures? How can such efforts help him to achieve his objective of
1. If you have had cross-cultural experiences, have you encountered challenges similar to Fernando Villanueva’s? How have you addressed them? Or, if you have not faced this situation, how do you
1. Would Jeremy Capdevielle’s approach be one that you might follow? Explain.2. Evaluate Jeremy’s advice to “challenge assumptions, observe the things that give you joy, and continually ask
1. Should it matter to consumers whether the companies that make their products are based in the consumers’ home country or not? Explain your rationale.  2. Why has there been almost no negative
Which production process would use an assembly line?a. Continuous productionb. Intermittent processc. Mass customizationd. Lean production
Which feature best describes a PERT chart?a. It creates a time line of production tasks.b. It creates a work flow for production equipment.c. It identifies the critical path of tasks in a project.d.
Which type of facility layout requires small teams of workers that are responsible for assembling a product start to finish?a. Product layoutb. Process layoutc. Cellular layoutd. Fixed position layout
Which best describes Six Sigma?a. It reduces errors throughout the production process.b. It improves customer satisfaction.c. It identifies potential errors.d. It obtains near perfection through
CAD refers to combining design and manufacturing functions along with other automated functions.a) Trueb) False
You are considering opening a pizza restaurant in your town. Describe the production process that you envision taking place to deliver a fully cooked pizza to a customer. What components would be in
You just learned about operations, production, and supply chains. Consider how this content relates to other areas of business.What information would you need to plan for how production and supply
Which marketing era reflects the marketing philosophy of companies that give away a product to someone in need for every product purchased?a. Production concept erab. Sales concept erac. Societal
Which of the following best describes digital marketing?a. Using cable TV commercialsb. Using e-mails, social media, and mobile applicationsc. Incorporating social responsibility into the corporate

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