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International Bus

Import documents are of two different types: those that determine whether customs will release the shipment and those that contain information for
duty assessment and statistical purposes
The U.S. Department of Commerce reports that nearly ________ of U.S. companies that export are small businesses.
65 percent
Which of the following factors does not motivate a company such as Grieve to build export linkages?
option to concentrate risk
There are two types of imports, those that provide industrial and consumer goods and services to individuals and companies that are not related to the foreign exporter and those that provide intermediate goods and services to ________.
companies that are part of the firm’s global supply chain
A situation in which an exporter sells products to a foreign country along with its promise to make a future purchase of a specific is known as ________.
counter-purchase
Which of the following is an example of a trigger that leads a company to begin exporting by serendipity rather than by design?
Personal travels abroad lead to the discovery of new market options.
An import strategy may be driven by the fact that companies ________.
cannot buy goods or services needed in their production processes from local companies
The primary duties of the ________ are the assessment and collection of all duties, taxes, and fees on imported merchandise, the enforcement of customs and related laws, and the administration of certain navigation laws and treaties.
U.S. Customs Service
Countertrade is an alternative means of structuring an international sale when ________.
conventional forms of payment are difficult, costly, or nonexistent
Countertrade generally increases in countries whose economies ________.
are experiencing widespread economic problems
Small and medium sized companies account for a ________ of U.S. exporters.
large percent
Which of the following is typically true of an export management company?
It operates on a contractual basis for a manufacturer by helping obtain orders for its clients’ products.
A(n) ________ operates on a contractual basis and provides exclusive representation for an exporter’s goods and services in a well-defined foreign territory.
export management company
An import strategy may be driven by the fact that companies ________.
cannot buy goods or services needed in their production processes from local companies
Common pitfalls to successful export operations include all of the following except which one?
Managers run into problems getting qualified export counseling.
Which of the following questions do companies not need to consider before deciding to begin the export process?
What is the variability of the home country’s import tariffs?
As a company designs its import strategy, it typically begins by ________
studying potential markets to pinpoint possible overseas suppliers
________ refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency.
Countertrade
All of the following are mistakes companies new to exporting frequently make except which one?
neglecting domestic business when export business booms
In designing an export strategy, managers typically do all of the following except ________.
look to extend customary forms of financial support to new markets
A situation in which goods are traded for goods due to a shortage of foreign exchange is known as ________.
barter
The Internet supports more companies’ effort to launch a direct selling strategy by ________.
providing faster and cheaper delivery of information
Export intensity, the measure of the relative importance of exports to total sales for a company, ________.
is independent of company size
Research indicates that a company’s propensity to export, strongly influenced by the size of the firm, is also strongly influence by the ________.
management’s attitude about business risk
Exporters who opt for direct selling in foreign markets most commonly do so ________.
operate through independent sales representatives
Increasingly, we see newly formed companies begin exporting sooner in their life cycle, led by a new generation of entrepreneurs and managers with a keen awareness of export opportunities. These sorts of firms are generally referred to as ________.
born global
In ________, the exporter sells goods directly to or through an independent domestic intermediary in the exporter’s home country that exports the products to foreign markets.
indirect selling
A company that starts out with a global focus because of the international experience and education of its founders is called a ____
born-global company
Which of the following is true of export trading companies in the United States?
They have been a successful form of export intermediary in recent years
Countertrade is an inefficient way of doing business because it ________.
threatens free market forces with protectionism and price fixing
Small- and medium-sized U.S. companies can rely on the Export Assistance Center of the International Trade Administration (ITA) of the U.S. Department of Commerce to help deal with major parts of their export strategy, including ________.
identifying potential sales agents
A company’s experience in export and import, along with its ________, significantly influence its inclination for indirect selling
range of financial and management resources
A situation in which an exporter sells goods for cash but then undertakes to promote exports from the importing country in order to help it earn foreign exchange is known as ________.
offset trade
The part of export strategy that trips up many companies, particularly smaller ones that are experimenting with export, is ________.
selecting a foreign market
The company that opts for a direct selling strategy to manage its exports is usually responding to competitive pressures ________.
to more fully exploit its core competencies
The basis for designing an effective strategy for exporting begins with __
identifying how the company can potentially leverage its core competency into international sales
Imports and exports play ________ in the U.S. economy than they did 20 years ago
the same role for manufacturing but a much lesser role for services
________ refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency.
Countertrade
A freight forwarder, the so called “travel agents of cargo,” performs which of the following functions?
is the largest export intermediary in terms of value and weight handled
Which of the following is not a function of the U.S. Department of Commerce?
act as an export marketing department or international department for their client firms
Which of the following is a major pitfall of exporting?
pursuing orders from around the world instead of establishing a base of profitable operations
As management weighs the decision of whether to export, an example of a strategic concern would be which of the following?
Is exporting consistent with the company’s mission and goals
Companies are most likely to use export to products abroad in all of the following situations except
when they want to use the riskiest method to engage in international trade
In designing an export strategy, managers typically do all of the following except ________.
look to extend customary forms of financial support to new markets
Which of the following is true of export trading companies in the United States?
They have been a successful form of export intermediary in recent years.

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