GB 350 Exam 2 Ole Miss Cascio
Questions with Complete Solutions
Power Distance Index - ANSWER-the extent to which the less powerful members of
organizations and institutions (like the family) accept and expect that power is
distributed unequally
Individualism (vs. Collectivism) - ANSWER-extent to which member feel
responsibility to themselves and immediate families (vs. others in the group)
Masculinity (vs. Femininity) - ANSWER-extent to which members prioritize
achievement, assertiveness, and material rewards for success (vs. cooperation,
caring for the weak, and quality of life)
Uncertainty Avoidance Index - ANSWER-extent to which members want to maintain
control over future events (even if they cannot)
long-term orientation - ANSWER-extent to which members value adapting to current
changes in the environment to prepare for the future
Indulgence (vs. Restraint) - ANSWER-extent to which members value need
gratification
Ethnocentrism - ANSWER-viewing outside others and their culture traditions through
the lens of our own culture
cultural factors to consider - ANSWER--language/slang
-customs and traditions
-expectations for appropriate behavior in business interactions
Ex: Chinese model trying to eat American food with chopsticks, company thought it
would be funny, her career was almost ruined because of it
Ex: Cinco de Mayo, beer companies in the US
Ex: New Zealand Burger King released man eating burger with chopstick
Demographics and culture must be considered ____. - ANSWER-together
multinationals - ANSWER-firms that engage in international trade beyond exporting
and importing
tariff - ANSWER-tax on particular class of product or service to protect domestic
competition
, Ex: World Trade Organization (WTO) approves US request to impose tariffs on
European goods totaling $11.2b/year
absolute quota - ANSWER-maximum number of products that can be imported in a
given time period
Ex: Steel imports from Argentina, South Korea, & Brazil cannot exceed 500k
kgs/quarter
tariff rate quota - ANSWER-maximum number of products that can be imported at a
reduced tariff
Ex: imported tuna in airtight containers: 14.9m kgs @ 6%; excess @ 12.5%
embargo - ANSWER-ban on product/service trade activity with another country
Ex: US Cuba Embargo
exchange rate - ANSWER-the value of one nations currency expressed in terms of
another nations currency
balance of trade - ANSWER-a country exports minus its imports
Risk Levels for Five Methods of Entering the Global Marketplace - ANSWER-
Exporting - KentQuaker Devices
Licensing - Chick-fil-a
Contract Manufacturing - H&M
Joint venture - Michelin, company, company : created app, came together
Direct investment - GM
Dumping - ANSWER-sale of an exported product at a lower price than that charged
for a similar product in the "home" market of the exporter
Gray markets - ANSWER-practice of selling and distributing products outside of
normal distribution channels
-legal, but typically void warranty/guarantee deals
Ex: Japan Nikons description of gray market cameras
Ex: sisters iPhone fix it phone, void warranty
consumer behavior - ANSWER-the why/how/when of what people think/feel/do
**choose all of the above on the exam when asked this question
"Why" of consumer behavior - ANSWER-Ex: sustainability & portion control among
reasons for "exploding" wine-in-a-can market, portion control and recycling, no huge
demographic difference
"How" of consumer behavior - ANSWER-Ex: Three shopper types
-one stop shoppers
-online shoppers
Questions with Complete Solutions
Power Distance Index - ANSWER-the extent to which the less powerful members of
organizations and institutions (like the family) accept and expect that power is
distributed unequally
Individualism (vs. Collectivism) - ANSWER-extent to which member feel
responsibility to themselves and immediate families (vs. others in the group)
Masculinity (vs. Femininity) - ANSWER-extent to which members prioritize
achievement, assertiveness, and material rewards for success (vs. cooperation,
caring for the weak, and quality of life)
Uncertainty Avoidance Index - ANSWER-extent to which members want to maintain
control over future events (even if they cannot)
long-term orientation - ANSWER-extent to which members value adapting to current
changes in the environment to prepare for the future
Indulgence (vs. Restraint) - ANSWER-extent to which members value need
gratification
Ethnocentrism - ANSWER-viewing outside others and their culture traditions through
the lens of our own culture
cultural factors to consider - ANSWER--language/slang
-customs and traditions
-expectations for appropriate behavior in business interactions
Ex: Chinese model trying to eat American food with chopsticks, company thought it
would be funny, her career was almost ruined because of it
Ex: Cinco de Mayo, beer companies in the US
Ex: New Zealand Burger King released man eating burger with chopstick
Demographics and culture must be considered ____. - ANSWER-together
multinationals - ANSWER-firms that engage in international trade beyond exporting
and importing
tariff - ANSWER-tax on particular class of product or service to protect domestic
competition
, Ex: World Trade Organization (WTO) approves US request to impose tariffs on
European goods totaling $11.2b/year
absolute quota - ANSWER-maximum number of products that can be imported in a
given time period
Ex: Steel imports from Argentina, South Korea, & Brazil cannot exceed 500k
kgs/quarter
tariff rate quota - ANSWER-maximum number of products that can be imported at a
reduced tariff
Ex: imported tuna in airtight containers: 14.9m kgs @ 6%; excess @ 12.5%
embargo - ANSWER-ban on product/service trade activity with another country
Ex: US Cuba Embargo
exchange rate - ANSWER-the value of one nations currency expressed in terms of
another nations currency
balance of trade - ANSWER-a country exports minus its imports
Risk Levels for Five Methods of Entering the Global Marketplace - ANSWER-
Exporting - KentQuaker Devices
Licensing - Chick-fil-a
Contract Manufacturing - H&M
Joint venture - Michelin, company, company : created app, came together
Direct investment - GM
Dumping - ANSWER-sale of an exported product at a lower price than that charged
for a similar product in the "home" market of the exporter
Gray markets - ANSWER-practice of selling and distributing products outside of
normal distribution channels
-legal, but typically void warranty/guarantee deals
Ex: Japan Nikons description of gray market cameras
Ex: sisters iPhone fix it phone, void warranty
consumer behavior - ANSWER-the why/how/when of what people think/feel/do
**choose all of the above on the exam when asked this question
"Why" of consumer behavior - ANSWER-Ex: sustainability & portion control among
reasons for "exploding" wine-in-a-can market, portion control and recycling, no huge
demographic difference
"How" of consumer behavior - ANSWER-Ex: Three shopper types
-one stop shoppers
-online shoppers
