MGT 450 Exam 1 || all solved.
Globalization correct answers The shift toward a more interdependent and integrated globaleconomy
International Business correct answers all cross-border exchanges of goods, services, or resourcesbetween
two or more nations
Forms of international business correct answers Business: A person or organization engaged in commerce
with the aim of achieving a profit
Importer: A person or organization that sells products and services that are sourced from other countries
Exporter: A person or organization that sells products and services in foreign countries that are sourced
from the home country
Foreign direct investment: The investment of foreign assets into domestic structures, equipment, and
organizations
Location advantages: Advantages due to choice of foreign markets and can include better access to raw
materials, less costly labor, key suppliers, key customers, energy, and natural resources.
Intrapreneurship correct answers a form of entrepreneurship that takes place within a business that is
already in existence
Intrapeneur correct answers A person with an established business who takes direct responsibility for
turning an idea into a profitable finished product through assertive risk taking and innovation
Entrepeneurship correct answers The recognition of opportunities (needs, wants, problems, and
challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully
planned ventures
Strategic Management correct answers the body of knowledge that answers questions about the
development and implementation of good strategies; mainly concerned with the determinants of firm
performance
, Stakeholder analysis correct answers A technique used to identify and assess the importance of key
people, groups of people, or institutions that may significantly influence the success of an activity,
project, or business
exporter correct answers a person or organization that sells product and services in foreign countries that
are sourced from the home country
Government role in IB correct answers to regulate
nongovernmental organizations (NGOs) correct answers any non-profit, voluntary citizens' group which
is organized on a local, national or international level.
virtue in business correct answers which action embodies the character strengths you value
Classical Country-Based Theories correct answers Mercantilism
Absolute Advantage
Comparative Advantage
Heckscher-Ohlin
Modern Firm-Based Theories correct answers Country Similarity
Product Life Cycle
Global Strategic Rivalry
Porter's National Competitive Advantage
Mercantilism correct answers a country's wealth is determined by its holdings of gold and silver
trade surplus correct answers when the value of exports i greater than the value of imports
trade deficit correct answers When the value of imports is greater than the value of exports
Globalization correct answers The shift toward a more interdependent and integrated globaleconomy
International Business correct answers all cross-border exchanges of goods, services, or resourcesbetween
two or more nations
Forms of international business correct answers Business: A person or organization engaged in commerce
with the aim of achieving a profit
Importer: A person or organization that sells products and services that are sourced from other countries
Exporter: A person or organization that sells products and services in foreign countries that are sourced
from the home country
Foreign direct investment: The investment of foreign assets into domestic structures, equipment, and
organizations
Location advantages: Advantages due to choice of foreign markets and can include better access to raw
materials, less costly labor, key suppliers, key customers, energy, and natural resources.
Intrapreneurship correct answers a form of entrepreneurship that takes place within a business that is
already in existence
Intrapeneur correct answers A person with an established business who takes direct responsibility for
turning an idea into a profitable finished product through assertive risk taking and innovation
Entrepeneurship correct answers The recognition of opportunities (needs, wants, problems, and
challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully
planned ventures
Strategic Management correct answers the body of knowledge that answers questions about the
development and implementation of good strategies; mainly concerned with the determinants of firm
performance
, Stakeholder analysis correct answers A technique used to identify and assess the importance of key
people, groups of people, or institutions that may significantly influence the success of an activity,
project, or business
exporter correct answers a person or organization that sells product and services in foreign countries that
are sourced from the home country
Government role in IB correct answers to regulate
nongovernmental organizations (NGOs) correct answers any non-profit, voluntary citizens' group which
is organized on a local, national or international level.
virtue in business correct answers which action embodies the character strengths you value
Classical Country-Based Theories correct answers Mercantilism
Absolute Advantage
Comparative Advantage
Heckscher-Ohlin
Modern Firm-Based Theories correct answers Country Similarity
Product Life Cycle
Global Strategic Rivalry
Porter's National Competitive Advantage
Mercantilism correct answers a country's wealth is determined by its holdings of gold and silver
trade surplus correct answers when the value of exports i greater than the value of imports
trade deficit correct answers When the value of imports is greater than the value of exports
