Which of the following is NOT a reason why global business should be studied?
What defines the field of global business more than anything else?
OVERALL, THE FOCUS ON FIRM PERFORMANCE AROUND THE GLOBE
More than half of the world GDP growth in recent years comes from
EMERGING ECONOMIES: BRIC (BRAZIL, RUSSIA, INDIA, CHINA)
An institutional framework is made up of:
INSTITUTION-BASED VIEW AND RESOURCE-BASED VIEW
INSTITUTION TRANSITIONS are defined as
“fundamental and comprehensive changes introduced to the formal and informal rules of the game that affect organizations as players.”
THE PENDULUM VIEW
Suggests that globalization is unable to keep going in one direction. Embraced throughout Central and Eastern Europe and the former Soviet Union until the late 1980s.
Political risk is associated with political changes that may negatively impact domestic and foreign firms.
Which statement about political risk is correct?
TOTALITARIAN COUNTRIES OFTEN EXPERIENCE WARS, RIOTS, PROTESTS, CHAOS, AND BREAKDOWNS, WHICH RESULT IN HIGHT POLITICAL RISK – RISK ASSOCIATED WITH POLITITCAL CHANGES THAT MAY NEGATIVELY IMPACT DOMESTIC AND FOREIGN ASSETS. FIRMS OPERATING IN DEMOCRACIES ALSO CONFRONT POLITICAL RISK. HOWEVER, SUCH RISK IS QUALITATIVELY LOWER THAN THAT IN TOTALITARIAN STATES
Civil law can be best described by which of the following statements?
CIVIL LAW WAS DERIVED FROM ROMAN LAW AND STREGTHENED BY NAPOLEON’S
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FRANCE. IT IS ‘THE OLDEST, THE MOST INFLUENTIAL AND THE MOST WIDELY DISTRIBUTED AROUND THE WORLD.’ IT USES COMPREHENSIVE STATUES AND CODES AS PRIMARY MEANS TO FORM LEGAL JUDGMENTS. OVER 80 COUNTRIES PRACTICE CIVIL LAW. IT IS A LEGAL TRADITION THAT USES COMPREHENSIVE STATUTES AND CODES AS PRIMARY MEANS TO FORM LEGAL JUDGEMENTS. THE LAW THAT GOVERNS RELATIONS BETWEEN PERSONS AND BETWEEN PERSON AND THE GOVERNMENT.
A pure market economy characterized by the “invisible hand” of market forces is noted by:
ADAM SMITH OF THE WEALTH OF NATIONS IN 1776
The “division of labor” thesis was first advanced by:
IT IS ECONOMICALLY ADVANTAGEOUS FOR INDIVIDUALS AND FIRMS TO GROW AND SPECIALIZE IN ORDER TO CAPTURE THE GAINS FROM TRADE. THIS IS THE ‘DIVISION OF LABOR’ THESIS FIRST ADVANCED BY ADAM SMITH
Which of the following countries can be defined as a high-context culture?
HIGH CONTEXT CULTURE IS A CULTURE IN WHICH COMMUNICATION RELIES A LOT ON THE UNDERLYING UNSPOKEN CONTEXT, WHICH IS AS IMPORTANT AS THE WORDS USED (SUCH AS ARAB AND ASIAN COUNTRIES)
Which of the following set of clusters includes ALL countries?
Which of the following dimensions does NOT accurately describe the majority firms in the United States?
DIMENSIONS ARE LONG-TERM ORIENTATION, UNCERTAINTY AVOIDANCE, MASCULINITY, INDIVIDUALISM, AND POWER DISTANCE. THE U.S.A HAS LOW POWER DISTANCE.
Which of the following is the law enacted in 1977 that bans bribery to foreign officials?
FOREIGN CORRUPT PRACTICES ACT (FCPA)
The greatest weakness in the fight against eradicating corruption is:
NOT ACTUALLY GOING THROUGH WITH IT
is an individual’s ability to understand and adjust to new cultures.
The view in global business which deals with external opportunity threats is also called:
THE INSTITUTION-BASED VIEW DEALS WITH EXTERNAL O AND T, ENABLED AND CONSTRAINED BY FORMAL AND INFORMAL RULES OF THE GAME.
A global business perspective that deals with internal strengths and weaknesses is also called:
THE RESOURCE BASED VIEW BUILDS ON THE SWOT ANALYSIS, AND CONCENTRATES ON THE INTERNAL S AND W TO IDENTIFY AND LEVERAGE SUSTAINABLE COMPETITIVE ADVANTAGE.
Observable and easily quantified assets are:
TANGIBLE RESOURCES AND CAPABILITIES
Assets hard to observe and difficult to quantify are:
INTANGIBLE RESOURCES AND CAPABILITIES
Which of the following is NOT a tangible asset?
THINGS THAT ARE TANGIBLE ARE FINANCIAL, PHYSICAL, TECHNOLOGICAL, AND ORGANIZATIONAL
Which of the following is NOT an intangible asset?
THINGS THAT ARE INTANGIBLE ARE HUMAN, INNOVATION, AND REPUTATIONAL
A chain of activities used in the production of goods and services that add value is a(n):
An examination as to whether a firm has the resources and capabilities to perform a particular activity in a manner superior to competitors is:
The point at which an industry-specific activity becomes common across industries and the need to keep it proprietary no longer exists is also called:
Turning over an organizational activity to a domestic firm is also called:
OUTSOURCING… OFFSHORING MEANS OUTSOURCING TO AN INTERNATIONAL OR FOREIGN FIRM. ONSHORING MEANS OUTSOURCING TO A DOMESTIC FIRM.
Which of the following are the four focal points of the resource-based view?
VRIO FRAMEWORK: THE RESOURCE-BASED FRAMEWORK THAT FOCUS ON THE VALUE (V), RARITY (R), IMITABILITY (I), AND ORGANIZATIONAL (O) ASPECTS OF RESOURCES AND CAPABILITIES
The difficulty of identifying the causal determinants of successful firm performance is also called:
The combination of resources and assets that enables a firm to gain a competitive advantage is also called:
Which of the following is the implication for action based on the information in this chapter?
IMPLICATIONS FOR ACTION: MANAGERS NEED TO BUILD FIRM STRENTHS BASED ON THE VRIO FRAMEWORK. RELENTLESS IMITATION OR BENCHMARKING, WHILE IMPORTANT, IS NOT LIKELY TO BE A SUCCESSFUL STRATEGY. MANAGERS NEED TO BUILD UP RESOURCES AND CAPABILITIES FOR FUTURE COMPETITION. STUDENTS NEED TO MAKE THEMSELVES INTO “UNTOUCHABLES” WHOSE JOB CANNOT BE EASILY OUTSOURCED.
The theory of absolute advantage is:
A THEORY THAT SUGGESTS THAT UNDER FREE TRADE, A NATION GAINS BY SPECIALIZING IN ECONOMIC ACTIVITIES IN WHICH IT HAS AN ABSOLUTE ADVANTAGE
The factor endowment theory is identified as:
A THEORY THAT SUGGESTS THAT NATIONS WILL DEVELOP COMPARATIVE ADVANTAGES BASED ON THEIR LOCALLY ABUNDANT FACTORS
Factor endowments, which refer to the natural and human resource repertoires, were noted by:
The national competitive advantage of industries depends on:
FIRM STRATEGY, STRUCTURE, AND RIVALRY. COUNTRY FACTOR ENDOWMENTS. RELATED AND SUPPORTING INDUSTRIES. DOMESTIC DEMAND CONDITIONS.
The birth of modern economics and the forerunner of the free trade movement are strengths and influences of:
Which of the following is the first theory to incorporate dynamic changes in patterns of trade?
PRODUCT LIFE CYCLE THEORY
Which of the following is a comparative advantage strength?
MORE REALISTIC GUIDANCE TO NATIONS (AND THEIR FIRMS) INTERESTED IN TRADE BUT HAVING NO ABSOLUTE ADVANTAGE. IT EXPLAINS PATTERNS OF TRADE BASED ON FACTOR ENDOWMENTS.
What determines the success and failure of a firm’s exports around the globe?
A FIRMS ABILITY TO ADAPT TO CHANGE, UNDERSTAND INNATE DIFFERENCES OF ALL THE DIFFERENT CULTURES THEY WISH TO MARKET TO, AND CONSTANTLY INNOVATE
Strategic Gap analysis:
WHAT ARE THE DIFFERENCES BETWEEN THE RESOURCES YOU NEED TO HAVE AND THE RESOURCES YOU HAVE
THE ABILITY TO VIEW OF MULTIDEMENSIONAL CONTRUCTS IN A MULTIDEMENTIONAL FASHION. VIEW DIFFERENCES WITHIN A PERSON
ROI of earning a degree at UTD
How much has research productivity increased under the current UTD Dean of the JSOM?
In the first week of actual competition how many of the UTD teams placed in the top 100 in the world?
Which of the following countries has the highest GDP per capita?
Brunei, United Arab Emirates, Lichtenstein, Norway
Which of the following countries discussed in class has the lowest GDP per capita?
Chad or Democratic Republic of Congo
What is the approximate value of a Euro?
From the example used in class why can it be important to do research?
Increase your income, help you be more professional
What type of guanxi is typically the least expensive to maintain?
the ability to tell the difference between two people
A goal should have which of the following characteristics?
SPECIFIC, MODERATELY DIFFICULT, ACHEIVABLE