Global Entrepreneurship
Pre-Test Questions
Course Introduction
Global Entrepreneurship explores the opportunities and challenges of launching and managing new ventures in an international context. The course examines how entrepreneurs identify, evaluate, and exploit opportunities across borders, taking into account diverse cultural, economic, and regulatory environments. Students will learn about global market entry strategies, international financing options, cross-cultural management, and the role of innovation in scaling ventures worldwide. Through case studies, practical projects, and interactive discussions, the course equips students with the skills and knowledge necessary to develop entrepreneurial ventures with a global impact.
Recommended Textbook
Global Business Today 10th Edition by
Charles W. L. Hill Dr
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17 Chapters
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Page 2
Chapter 1: Globalization
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Sample Questions
Q1) ABC Company,which is headquartered in the United States,has production plants in Mexico and Vietnam.According to this information,ABC company is
A)against globalization.
B)a multinational enterprise.
C)engaging in the globalization of markets.
D)engaging in international trade.
E)a local company.
Answer: B
Q2) Which of the following is most likely to be observed in today's global economy?
A)increasing U.S.share of world output
B)large U.S.entrepreneurial firms dominating the international business scene
C)increasing U.S.dominance in the world economy and world trade picture
D)most of the nations being governed by centrally planned economies of the communist world
E)continued rise in the share of world output accounted for by developing nations such as China and India
Answer: E
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Chapter 2: National Differences in Political, Economic, and Legal Systems
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Q1) In which countries are we likely to find free market economies?
A)countries where the good of the society has precedence over private profit
B)countries where individual goals are given primacy over collective goals
C)countries where state-owned enterprises have a monopoly in certain industries
D)countries that have adopted communism as their political system
E)countries where the government plans the goods and services produced
Answer: B
Q2) In most democratic states,those who question the right of the rulers to rule find themselves imprisoned,or worse.
A)True
B)False
Answer: False
Q3) The Cold War was in many respects a war between collectivism,championed by the former Soviet Union,and individualism,championed by the United States.
A)True
B)False
Answer: True
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Page 4
Chapter 3: National Differences in Economic Development
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Q1) What type of risk can be defined as the likelihood that a trading partner will opportunistically break a contract or expropriate property rights?
A)political
B)legal
C)economic
D)sociological
E)cultural
Answer: B
Q2) People in the West tend to associate which of the following with a free market system,strong property rights protection,and economic progress?
A)anarchist state
B)representative democracy
C)planned economy
D)communist state
E)command economy
Answer: B
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Page 5
Chapter 4: Differences in Culture
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Q1) People who cannot take food or safety for granted tend to have authoritarian tendencies,and believe that men make better political leaders than women.
A)True
B)False
Q2) Rituals and symbols are the most visible manifestations of a culture and constitute the outward expression of deeper values.
A)True B)False
Q3) Strong identification with the group tends to create pressures for mutual self-help and collective action.
A)True
B)False
Q4) The concept of mobility between castes within an individual's lifetime makes no sense to traditional Hindus.
A)True
B)False
Q5) "There is not a strict one-to-one correspondence between a society and a nation-state." Discuss.
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Chapter 5: Ethics, Corporate Social Responsibility, and Sustainability
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Q1) Which of the following statements is true about the Sullivan principles?
A)They were widely opposed by U.S.firms,such as General Motors,operating in South Africa.
B)They promoted the abolition of apartheid laws.
C)It has been argued that they led to the violation of human rights in South Africa.
D)They were against the introduction of democratic elections in South Africa.
E)Western businesses that followed them were considered unethical.
Q2) Which of the following practices should be avoided by a company to ensure ethical decision making?
A)auditing past decisions made in the company
B)protecting the fundamental rights of stakeholders
C)taking care of the interests of external stakeholders
D)placing its economic interests before its moral principles
E)adopting the moral principles specified in the code of ethics of the company
Q3) Leon Sullivan argued that it was ethically justified for Western businesses to operate in South Africa so long as the companies obeyed the apartheid laws.
A)True
B)False
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Chapter 6: International Trade Theory
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Q1) Meitneria and Seaboria specialize in the production of heavy machinery and textiles respectively.While Meitneria doesn't produce textiles,Seaboria is not as technologically advanced as Meitneria.In this situation,according to the Heckscher-Ohlin theory
A)Meitneria will import textiles from Seaboria and export heavy machinery to it.
B)Meitneria will invest more than Seaboria in the production of textiles to exploit its comparative advantage.
C)Meitneria and Seaboria will raise their trade barriers to protect their economies.
D)Seaboria will recruit experts from Meitneria to specialize in the production of heavy machinery.
E)Meitneria will recruit workers from Seaboria to improve its standing in the textile industry.
Q2) What is meant by the term free trade? Is free trade compatible with the concept of mercantilism?
Q3) The Heckscher-Ohlin theory is the best predictor of real-world international trade patterns.
A)True
B)False
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Page 8
Chapter 7: Government Policy and International Trade
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Q1) What are the issues that are at the forefront of the current agenda of the WTO?
Q2) Both import quotas and voluntary export restraints (VERs)benefit domestic producers by limiting import competition.
A)True
B)False
Q3) The United States accused Libya and Iran of supporting terrorist action and building weapons of mass destruction.The U.S.government,therefore,imposed trade sanctions against the two countries.Which of the following political arguments does this exemplify?
A)retaliation and trade war
B)furthering foreign policy objectives
C)strategic trade policy
D)corporate security
E)protecting infant industries
Q4) In the Uruguay Round of the WTO,member countries sought to exempt trade in services from GATT rules.
A)True
B)False
Q5) What conclusions can be derived from economic analysis of the effect of import tariffs?
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Chapter 8: Foreign Direct Investment
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Q1) The pragmatic nationalist view is that
A)FDI benefits only the host country.
B)FDI does not make any positive contribution to the host economy.
C)every country should adopt the free market view.
D)FDI should not be allowed by any country as it is an instrument of economic domination rather than economic development.
E)FDI has both benefits and costs.
Q2) Which of the following statements is most likely to be true regarding the adverse effects of FDI on the host country?
A)It decreases the level of competition in the host country.
B)It tends to increase the prices of the products.
C)It leads to a high rate of unemployment in the long run.
D)When a foreign subsidiary imports a substantial number of its inputs from abroad,it results in a debit on the current account of the host country's balance of payments.
E)When a foreign subsidiary sends its profits to its home country,it results in the depletion of gold reserves of the host country.
Q3) Describe Dunning's arguments regarding the location-specific advantages.
Q4) How can governments restrict the outward flow of FDI?
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Page 10
Chapter 9: Regional Economic Integration
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Q1) The emphasis of the European Free Trade Association has been on free trade in consumer goods.
A)True
B)False
Q2) Since its establishment in January 1,1999,the euro has steadily appreciated against the U.S.dollar,reaffirming the ability of the European Central Bank to manage monetary policy within the euro zone.
A)True
B)False
Q3) Which of the following is true of the Treaty of Rome?
A)It obliged all European Union members to adopt the euro.
B)It committed the European Community to establish common policies in agriculture and transportation.
C)It called for the establishment of internal trade barriers.
D)It allowed members to determine the level of protection applied to goods coming from outside.
E)It called for the abolition of a common external tariff.
Q4) Briefly describe the Association of Southeast Asian Nations.
Q5) What are the two impediments to regional economic integration?
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Chapter 10: The Foreign Exchange Market
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Questions
Q1) How does an increase in money supply in an economy lead to inflation?
Q2) An American company imports laptop computers from Japan.The company knows that after a shipment arrives,it must pay in yen to the Japanese supplier within 30 days.In a particular exchange,the American company must pay the Japanese supplier ×150,000 for each computer at the current dollar/yen spot exchange rate of $1 = ×110.The company intends to resell the computers the day they arrive for $1,600 each but it does not have the funds to pay the Japanese supplier until the computers have been sold.Which of the following will happen if the exchange rate after 30 days is $1 = ×90?
A)The importer will earn a profit of approximately $236 per computer.
B)The importer will earn a profit of approximately $67 per computer.
C)The importer will incur a loss of approximately $236 per computer.
D)The importer will incur a loss of approximately $67 per computer.
E)The importer will incur a loss of approximately $90 per computer.
Q3) A common kind of currency swap is spot against forward.
A)True
B)False
Q4) Briefly describe the schools of thought regarding exchange rate forecasting.
Q5) What is the Fisher effect?
Q6) Differentiate between spot exchange rates and forward exchange rates.
Page 12
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Chapter 11: The International Monetary System
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Q1) What is the effect of a monetary contraction in a fixed exchange rate system?
A)It forecasts low interest rates.
B)It increases the demand for money.
C)It puts downward pressure on a fixed exchange rate.
D)It leads to an inflow of money from abroad.
E)It can lead to high price inflation.
Q2) The architects of the Bretton Woods agreement wanted to avoid high unemployment,so they built the fixed exchange rate system to be highly inflexible.
A)True
B)False
Q3) The architects of the Bretton Woods agreement built limited flexibility into the fixed exchange rate system in order to
A)avoid high unemployment.
B)facilitate competitive currency devaluations.
C)widen balance-of-payments gap between countries.
D)increase money supply and thereby price inflation.
E)avoid balance-of-trade equilibrium between countries.
Q4) What was the drawback of the Bretton Woods system?
Q5) What changes have occurred in the International Monetary Fund in recent years?
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Chapter 12: The Strategy of International Business
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Q1) Managing an alliance successfully requires building interpersonal relationships between the firms' managers,or what is sometimes referred to as
A)relational capital.
B)interorganizational synergy.
C)power equilibrium.
D)symbiotics.
E)intraorganizational coordination.
Q2) Processes are the
A)manner in which decisions are made and work is performed within the organization.
B)metrics used to measure the performance of subunits.
C)devices used to reward appropriate managerial behavior.
D)metrics used to make judgments about how well managers are running the subunits.
E)norms and value systems that are shared among the employees of an organization.
Q3) Profit growth is measured by the percentage increase in net profits over time.
A)True
B)False
Q4) What are strategic alliances?
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14
Chapter 13: Entering Foreign Markets
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Sample Questions
Q1) While personal fitness trackers (such as Fitbit)are widely available in the U.S.,they are scarcely available in international markets.Given the increasing awareness of a healthy lifestyle,such products satisfy an unmet need.A product such as Fitbit in international markets
A)is likely to have greater value.
B)will have to be priced relatively low.
C)will see a decrease in sales volume.
D)is not suited to that particular market.
E)will fail to make a profit.
Q2) If an international firm's core competence is based on proprietary technology,entering a joint venture might risk losing control of that technology to the joint-venture partner.
A)True
B)False
Q3) A firm should configure its value chain to maximize value at each stage when
A)government regulations relax.
B)cost pressures are intense.
C)rapid imitation is expected.
D)the number of consumers increases.
E)incumbent competitors exist.
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Chapter 14: Exporting, Importing, and Countertrade
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Q1) Which of the following is true of a letter of credit?
A)It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular,specified documents.
B)It is a document written by an exporter instructing an importer to pay a specified amount of money at a specified time.
C)It serves as a receipt,a contract,and a document of title.
D)It indicates that the carrier has received the merchandise described on the face of the document.
E)It allows buyers to obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay.
Q2) Describe the Foreign Credit Insurance Association (FCIA).What types of risks does it cover?
Q3) Countertrade occurs when the
A)exporter may not be paid in his or her home currency due to nonconvertibility.
B)exporter can convert the currency only in U.S.dollars.
C)exporter is dealing with a country that has huge foreign reserves.
D)exporter has easy access to export credit to fund its international trade.
E)importer defaults on payment.
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Page 16
Chapter 15: Global Production and Supply Chain Management
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Sample Questions
Q1) Flexible manufacturing technologies are specially targeted at enabling companies to
A)establish multiple manufacturing facilities in each major national market.
B)build large inventories.
C)achieve product standardization across markets.
D)increase their work in progress.
E)produce customized products without a significant cost penalty.
Q2) A firm that improves its quality control cannot reduce its costs of value creation simultaneously.
A)True
B)False
Q3) _____ was pioneered by Japanese firms during that country's remarkable economic transformation during the 1960s and 1970s.
A)Lean production
B)Flexible manufacturing technology
C)Dynamic capabilities
D)Just-in-time inventory systems
E)Global learning
Q4) Describe the Six Sigma methodology.
Q5) What are the ways in which improved quality control reduces costs?
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Chapter 16: Global Marketing and Research and Development
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Q1) Which of the following factors creates a potential market for new products?
A)rising inflation
B)affluent consumers
C)lack of competition among firms
D)firms suffering from first-mover disadvantages
E)declining demand
Q2) Which kind of strategy do firms in consumer goods industries that are trying to sell to a large segment of the market generally favor?
A)push
B)international
C)lag
D)pull
E)exclusive distribution
Q3) Other things being equal,the rate of new-product development seems to be greater in countries where
A)more money is spent on marketing instead of applied research.
B)consumers demand cheaper products since they are not affluent.
C)competition between firms is intense.
D)pioneering costs outweigh the disadvantages of being a second mover.
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E)a large change in prices of a product only produces a small change in demand.
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Chapter 17: Global Human Resource Management
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Sample Questions
Q1) A firm that adopts a polycentric staffing policy is less likely to
A)isolate foreign subsidiaries from corporate headquarters.
B)implement an expensive staffing policy.
C)be controlled by corporate headquarters.
D)suffer from cultural myopia.
E)provide growth opportunities.
Q2) International trade secretariats have been minimally successful because of the A)similarity in the structure of unions on a global level.
B)common perception unions have about multinational companies.
C)reciprocal tax treaty.
D)competition between national unions to attract investment from international businesses.
E)retention of highly skilled tasks in the host country.
Q3) Which of the following strategies is compatible with a geocentric staffing policy?
A)global standardization strategy
B)localization strategy
C)international strategy
D)ethical strategy
E)global strategy
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Page 19