International Business Exam 3UPDATED ACTUAL Questions
and CORRECT Answers
A planned set of actions that to make the best use of Strategy
the firms resources and competencies to gain a
competitive advantage.
What is a competitive advantage What your firm does best
What are the three strategic objectives or three things Efficiency, flexibility, and learning
that firms want to have to be able to operate effectively
internationally
What are the five dimensions of succesfull international Visionary leadership, organization structure, strategy, organizational processes,
firms and organizational culture
What is an industry where competition is on a regional Global industry
or worldwide basis and customer needs vary little from
country to country
A business approach where a company operates in Multi-Domestic Industry
multiple countries but treats each country as a
separate, unique market is what kind of industry
International transaction in which all or partial counter trade
payments in kind rather than cash and the firm receives
products as payment
This Organizational structure requires limited Export departement
commitment and most closely is associated with home
replication strategy
What is a characteristic of a transnational strategy Local responsiveness with central control. Transnational is the combination of
two strategies where you have global integration but also local
responsiveness, Example: IKEA
What is the GMOA (Global Marketing Opportunity 1. Analyze organization readiness to internationalize
Assessment) in order 2. Asses the firms suitability of the firms products and services for foreign
markets
3. Screen countries to identify attractive target markets
4. Asses the industry market potential or the demand in the chosen market
5. choose qualified business partners, like suppliers
6. Estimate company sales potential
Why is ethics especially challenging in international Because laws, cultures, and norms differ across countries, creating conflicting
business? expectations
and CORRECT Answers
A planned set of actions that to make the best use of Strategy
the firms resources and competencies to gain a
competitive advantage.
What is a competitive advantage What your firm does best
What are the three strategic objectives or three things Efficiency, flexibility, and learning
that firms want to have to be able to operate effectively
internationally
What are the five dimensions of succesfull international Visionary leadership, organization structure, strategy, organizational processes,
firms and organizational culture
What is an industry where competition is on a regional Global industry
or worldwide basis and customer needs vary little from
country to country
A business approach where a company operates in Multi-Domestic Industry
multiple countries but treats each country as a
separate, unique market is what kind of industry
International transaction in which all or partial counter trade
payments in kind rather than cash and the firm receives
products as payment
This Organizational structure requires limited Export departement
commitment and most closely is associated with home
replication strategy
What is a characteristic of a transnational strategy Local responsiveness with central control. Transnational is the combination of
two strategies where you have global integration but also local
responsiveness, Example: IKEA
What is the GMOA (Global Marketing Opportunity 1. Analyze organization readiness to internationalize
Assessment) in order 2. Asses the firms suitability of the firms products and services for foreign
markets
3. Screen countries to identify attractive target markets
4. Asses the industry market potential or the demand in the chosen market
5. choose qualified business partners, like suppliers
6. Estimate company sales potential
Why is ethics especially challenging in international Because laws, cultures, and norms differ across countries, creating conflicting
business? expectations
