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Exam 18: Global Opportunities for Small Business

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Question 51

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A small firm can generate the greatest financial returns using international licensing strategies when these efforts involve the company's products.

A) True
B) False

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Question 52

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Trade leads are accessed most often through contacts.

A) True
B) False

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Question 53

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Match the term with its definition.Some terms may not be used. a.Economic risk b.Experience curve efficiencies c.Foreign licensing d.International franchising e.International outsourcing f.International strategic alliance g.Learning effects h.Licensee i.Licensor -A strategy that involves accessing foreign labor through contracts with independent providers

The Federation of International Trade Associations website is a source of trade

Perhaps the easiest way to break into international markets is to use a trade intermediary.

While a small firm can have global operations,size will limit growth.

Increasingly,small businesses are expanding internationally to

Match the term with its definition.Some terms may not be used. a.Bill of lading b.Born-global firms c.Counterfeit activity d.Economic risk e.Economies of scale f.Exchange rate g.Letter of credit h.Offshoring i.Political risk j.Royalties -A document indicating that a product has been shipped and the title to that product has been transferred

Least challenging countries according to the World Bank's Ease of Doing Business Index include Canada,Mexico,and Chile.

What are the differences and similarities of exporting and importing?

Efforts to exploit the competitive advantage of specialized products across international markets is more important to small businesses than to their large competitors.

Once a small business owner decides to expand internationally,s/he should study the competitive forces in the foreign market.

Match the term with its definition.Some terms may not be used. a.Bill of lading b.Born-global firms c.Counterfeit activity d.Economic risk e.Economies of scale f.Exchange rate g.Letter of credit h.Offshoring i.Political risk j.Royalties -The value of one country's currency relative to that of another country

International markets are increasingly demanding

A Canadian grocery store chain with its corporate headquarters in Quebec has approached Antonio's small pasta firm about possible exporting.Which question would need to be answered in relation to the pasta company's management objectives?

Match the term with its definition.Some terms may not be used. a.Born-global firms b.Cross-border acquisition c.Exporting d.Globalization e.Greenfield venture f.Importing g.Offshoring h.Trade intermediary i.Trade mission -The purchase by a business in one country of a company located in another country

The motivation to take domestic products to foreign markets is more relevant today than in the past.

Seeking to extend the product life cycle by expanding into international markets has become a less effective strategy because

A production capacity question that needs to be answered before a company goes global with operations is "Will international sales hurt domestic sales?"

Trade missions typically are sponsored by foreign governments to promote strategic alliances in international markets.