Activities$/$assessment:

Answer the following Review Questions:

$1.$ Why are small businesses important to the economy?

$2.$ Which industries are easiest for a small business to enter? Which is hardest? Why?

$3.$ What are the primary reasons for new business failure and success?

$4.$ What are the basic forms of noncorporate business ownership? What are the key advantages and disadvantages of each?

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$5.$ What are the major areas of social responsibility with which businesses should be concerned?

Activities$/$assessment:

Answer the following Review Questions:

$1.$ What are the advantages and disadvantages of globalization?

$2.$ What are the three possible levels of involvement in international business? Give examples of each.

$3.$ What are the elements of national competitive advantage? Give a current, realworld example of each condition.

$4.$ Describe the five international organizational structures.