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Although Hatteras. Hammocks still manufactures its hammocks by hand in North Carolina, it sells the hammocks online to buyers worldwide. What international business strategy is Hatteras Hammocks using? Licensing Outsourcing Importing Exporting Imagine that you are a business owner and fooking to expand your operations internationally for the first time. You know that different approaches offer different advantages. For each advantage listed below, identify the business approach most likely to provide it. Imagine that your friend is the CEO of a company, called Magna Clothes, that manufactures cool new clothing accessories for both men and women. Now that it has achieved a large following and a level of success in the United States, Magna Clothes wants to start conducting business abroad. Your (riend knows you have taken a management class and has asked you to explain the history and significance of the World Trade Organization (WTo). Which of the following statements are true? Check all that apply. The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them. The WTO consists primarily of Western European countries, Opponents of the WTo sometimes contend that the organization focuses too narrowly on the globalization of trade, at the expense of human rights and the environment, The WTo limits access to its discussions and information to only its member nations. North America is yet another region Magna Clothes is considering for its international expansion. Because he knows little about the United StatesMexico-Canada Agreement (USMCA), the CEO of Magna Clothes asks you to explain what you know about the agreement and how it might affect Magna's entry into the Canadian clothing market. Which of the following statements are correct? Check all that apply, NAFTA requires that its members eliminate all country-specific legislation allowing them to give preference to locally manufactured goods. Even with NAFTA, the United States and Mexico still have forms of "buy national" legislation, which gives preference to domestic North America is yet another region Magna Clothes is considering for its international expansion. Because he knows little about the United StatesMexico-Canada Agreement (USMCA), the CEO of Magna Clothes asks you to explain what you know about the agreement and how it might affect Magna's entry into the Canadian clothing market. Which of the following statements are correct? Check all that apply. NAFTA requires that its members eliminate all country-specific legisiation allowing them to give preference to locally manufactured goods. Even with NAFTA, the United States and Mexico still have forms of "buy national" legislation, which gives preference to domestic producers. For example, the U.S. Department of Defense must purchase military uniforms made in the United States. Mexico requires that half of the car parts sold in Mexico be manufactured inside its borders. USMCA is the successor to the North American Free Trade Agreement (NAFTA). NAFTA eliminated many of the trade quotas and tariffs that existed before it was signed in 1992. NAFTA is expanding its traditional territorial boundaries to include countries in Central and South America. Imagine you've been identified by Walmart's head of international expansion as a consultant with deep insight into how companies succeed in glob markets. You've been asked to join a video call with Walmart executives to answer their questions. Read the Walmart case study and then use your understanding of the global environment to answer the question that follows. Walmart's history in international expansion is a reminder that not every entry into a foreign country is successful, Local laws and restrictions sometimes can create unforeseen chalienges. Sometimes local market dynamics make good supply chain strategies impossible to operate. It can be difficult to understand local consumer preferences and how to market to these consumers. Different tastes mean companies must change their product assortments, adjust their pricing, and market their products differently. Source: Boyle, M. (2009, October 13). Wal-Mart's painful lessons, Dusiness Week. Retrieved from https:///www.bloombergicomews/articles/2009-10-13/walmarts-painful-lessons; Melio, G. (2019, May 10), Walmart Brasil to ditch e-commerce, focus on brick and mortar: Reuters. Retrieved from https://www.reuters.com/article/us-walmart-ecommerce-brazi/walmart-brasi-to-ditch-e-commerce-focus-on-brick-and-mortar-iduskcNisG210/; Walmart. (n.d.). Our story: Our business. Retrieved December 22, 2020, from https://corporate-walmart,com/our-story/our-business/ Because Waimart's retail approach is big stores with a large selection of merchandise at discount prices, in which country should Walmart experience the most success? A country with a complex and indirect channel of distribution A country like Singapore, with a preference for foreign brands A country characterized by large populations with very low incomes A country like Singapore, where people are price conscious