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Exam 4: Developing a Global Vision

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Question 21

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A cooperative of egg producers believes a profitable market for eggs exists overseas where people are not as concerned about cholesterol. What would be the least complicated and least risky method for the farmers' cooperative to use to reach a global marketplace?

A) direct investment
B) joint venture
C) contract manufacturing
D) exporting

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Question 22

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When European demand for a certain solvent declined, Dow Chemical instructed its German plant to switch to manufacturing a chemical that had been imported from Louisiana and Texas. How would Dow Chemical best be described?

A) as a global enterprise
B) as a global trader
C) as a cultural marketer
D) as a multinational corporation

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Question 23

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Which country is the world's largest exporter?

Which method of entering the global marketplace is most risky?

According to an article in the Financial Times, bringing Coca-Cola to the Chinese market presented a special challenge to the soft-drink manufacturer. This challenge most likely had to do with which element of the marketing mix?

In China, August 15 is the "Chinese Saint Valentine's Day," in memory of two ancient lovers who were separated by a goddess and allowed to meet only once a year on that date. Flower and candy sales typically increase that day as they do on February 14 in North America. This would be an important part of which international environment for a flower wholesaler or a confectionery company?

Honda specifically created the Acura brand for the North American market to take in to account market differences. What strategy is Honda using?

What is the fourth stage of business globalization? Describe companies that are most likely to reach this stage of globalization.

Caterpillar Inc. is the world's largest manufacturer of earth-moving and construction equipment. Kirovsky is a large Russian manufacturer of the same type of products. When the two companies created Nevamash, a new company, what were they entering?

Even if all parties to a global business transaction are fluent in a common language, other cultural norms could interfere with the communication process.

Rolex has decided to market its new sports watch product line using a uniform strategy. How else could such a strategy be described?

What historic agreement did Prime Minister Justin Trudeau sign in 2016?

Which of the following is a law that compels a company earning foreign currency from its exports to sell it to a central bank rather than sending the money out of the country?

Mitsubishi Heavy Industries and Kawasaki Heavy Industries produce McDonnell Douglas's F-15 fighter planes in Japan. The two Japanese companies pay McDonnell Douglas royalties for use of its manufacturing processes and patents. What is this an example of?

The fact that Nigeria's inflation rate has dropped by almost 2.5 percent since the beginning of this decade would be what type of factor for a company that wanted to do business in that country?

Otis Elevators has entered into a strategic alliance with a company in France from which it gets its elevator door systems. It has a similar agreement with a manufacturer in Japan that provides it with special motor drives. The parts are assembled at its plant in the United States. Otis elevators can be found in buildings all over the world. What is Otis Elevators an example of?

A multinational company that makes a labour-intensive product realizes that factors such as median age, gender, and literacy rates will determine the success of its global expansion. What is the term that identifies the makeup of countries?

The same environmental factors that operate in the domestic market also exist internationally. These factors (culture, economic development, political and legal structure, demographics, and natural resources) should be examined, regardless of the country.

Many consumers experience the benefits of globalization, including lower prices and access to exotic products; however, others are concerned with the massive expansion of companies such as Walmart. Why are these consumers concerned?

Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. What is this practice called?