MBA 776 LSUS DARRAT EXAM 1 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

MBA 776 LSUS DARRAT EXAM 1 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Global Commerce thrives during... - Answer -Peacetime (Economic boom in 1990s, end o gthe Cold War, Opening former communist countries to world trading system) Why is international trade important? - Answer -Lack of consistent and predictable trade policies can lead to tension (Company scandals and layoffs, wars and political unrest, natural disasters and pandemics, financial and economic disruptions) 4 trends affecting global business - Answer -1. Growth of the WTO and open trade agreements 2. developing countries moving toward free trade 3. Internet, cellular and networked communication 4. Mandate to manage the global environment for the future What happens during the globalization of markets increase - Answer - More foreign customers, competitors, suppliersCompetition comes from domestic and foreign firms What is the importance of US brands having global reach - Answer - Important for US businesses to thrive Foreign Sales can exceed domestic sales Foreign investments generate a lot of revenue The performance of business activities - Answer -Plan, price, promotion, direct flow of goods and services for profit For consumers or users in more than one nation Unique form domestic marketing - Answer -Many unfamiliar problems require unique strategies to cope with problems Level of uncertainty and uncontrollable in foreign markets Uncontrollable uncertainty - Answer -Created by uncontrollable elements in business environments Each international market has it's own set of factors Why is a marketing program designed - Answer -For optimal adjustment to uncertainty What do controllable elements in domestic environments do - Answer - Blend all elements to capitalize on anticipated demand Can alter elements if needed:(changing market conditions, consumer tastes, and corporate objectives) What are uncontrollable elements in domestic environments - Answer - Actively evaluate elements to make adjustments Determine the outcome of the marketing enterprise Domestic Environment Uncontrollables Examples - Answer - political/legal forces, economic climate, competition, level of technology, Structure of distribution, geography and infrastructure, cultural forces Foreign Environment Uncontrollables Examples - Answer -Political/legal forces, economic forces, competitive forces, level of technology, structure of distribution, geography and infrastructure, cultural forces What is cultural adjustment? - Answer -The most challenging and important task Duties of international marketers - Answer -•Interpret influence of each uncontrollable element on market •Adjust marketing efforts to cultures in which they are not attuned •Be aware of own frame of reference when evaluating markets Self-Reference Criterion (SRC) - Answer -Unconscious reference to own cultural values, experiences, knowledge. Problematic when used for decisions Ethnocentrism - Answer -One's own country, culture, or country is b