International Business
Midterm Exam
Course Introduction
International Business explores the key concepts and practices involved in conducting commercial transactions across national borders. The course examines the dynamic global environment of international trade, investment, and operations, addressing topics such as cross-cultural management, globalization, international marketing, legal and ethical considerations, and strategies for entering and expanding in foreign markets. Students will gain an understanding of the economic, political, and cultural factors that shape international business decisions, while analyzing case studies to develop skills for managing multinational enterprises in an increasingly interconnected world.
Recommended Textbook
Concepts in Strategic Management and Business Policy 14th Edition by Thomas L. Wheelen
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12 Chapters
1254 Verified Questions
1254 Flashcards
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Page 2
Chapter 1: Basic Concepts in Strategic Management
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) One tenet of the learning organization is to maintain stability.
A)True
B)False
Answer: False
Q2) Which of the following statements is NOT True of a strategic inflection point?
A) The term was coined by Andy Grove, past CEO of Intel Corporation.
B) This represents what happens to a business when a major change takes place due to the introduction of new technology.
C) This represents what happens to a business when a major change takes place due to a change in customers' values or a change in what customers prefer.
D) This represents what happens to a business when a major change takes place due to a different regulatory environment.
E) A new CEO is an example of a strategic inflection point.
Answer: E
Q3) Globalization is the integrated internationalization of markets and corporations.
A)True
B)False
Answer: True
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3
Chapter 2: Corporate Governance
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97 Flashcards
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Sample Questions
Q1) According to ________ theory, ________ directors tend to identify with the corporation.
A) agency; inside
B) corporate governance; inside
C) stewardship; inside
D) corporate governance; affiliated
E) stewardship; outside
Answer: C
Q2) The theory which states that problems arise in corporations because top management no longer is willing to bear the brunt of their decisions unless they own a substantial amount of stock in the corporation is called
A) codetermination.
B) agency theory.
C) interlocking management theory.
D) strategic leadership theory.
E) ownership theory.
Answer: B
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Page 4
Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) A problem with the individual rights approach to ethics is the difficulty in defining fundamental rights.
A)True
B)False
Answer: True
Q2) Stakeholders are all constituencies that affect and are affected by the achievement of the firm's objectives.
A)True
B)False
Answer: True
Q3) Employees who report illegal or unethical behavior on the part of others are known as
A) stakeholders.
B) whistleblowers.
C) moral relativists.
D) retaliators.
E) outside directors.
Answer: B
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Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Extrapolation rests on the assumption that the world is relatively dynamic and changes quickly in the short run.
A)True
B)False
Q2) A buyer may be powerful when changing suppliers costs a great deal.
A)True
B)False
Q3) Industry analysis is primarily concerned with a corporation's
A) societal environment.
B) task environment.
C) sociocultural environment.
D) economic environment.
E) internal environment.
Q4) An industry scenario is a forecasted description of a particular industry's likely future. It is developed by analyzing the probable impact of future societal forces on key groups in a particular industry.
A)True
B)False
Q5) Describe the four strategic types of the Miles and Snow typology.
Q6) Describe the four general forces in the societal environment.
Page 6
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Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) When a company's core competencies are superior to those of competitors, these are known as
A) resources.
B) distinctive competencies.
C) core competencies.
D) critical success factors.
E) key performance factors.
Q2) Which of the following is NOT a primary activity of the value chain?
A) raw materials handling
B) installation
C) repair
D) purchasing
E) warehousing
Q3) What are the two distinct attributes of corporate culture?
A) differentiation and integration
B) durability and imitability
C) concern for people and concern for task
D) intensity and integration
E) amount of complexity and tolerance of change
Q4) Define a value chain and the significance of the center of gravity.
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Product engineering, creative flair, and strong cooperation from channels are commonly required skills and resources for which of Porter's generic strategies?
A) cost leadership
B) differentiation
C) cost leadership focus
D) differentiation focus
E) collusion
Q2) According to Porter, the generic competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors is called
A) competitive scope.
B) differentiation.
C) cost leadership.
D) diversification.
E) focus.
Q3) One skill required of the cost leadership strategy is a strong marketing ability.
A)True
B)False
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Which of the following is NOT one of the advantages of portfolio analysis?
A) The graphic depiction facilitates communication.
B) It provides the basis for impartial objectivity from which to make decisions.
C) It encourages top management to evaluate each of the corporation's businesses individually.
D) It raises the issue of cash flow availability for use in expansion and growth.
E) It stimulates the use of externally oriented data to supplement management's judgment.
Q2) Corporate parenting is the coordination of cash flow among units.
A)True
B)False
Q3) Exporting grants rights to another company to open a retail store using the franchiser's name and operating system.
A)True
B)False
Q4) The most widely pursued corporate directional strategies are those designed to achieve growth.
A)True
B)False
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) An operations strategy determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers.
A)True
B)False
Q2) What is a functional strategy?
Q3) Many companies have found that outsourcing logistics
A) helps centralize logistics.
B) reduces costs and improves delivery time.
C) is an effective business-level strategy.
D) helps the companies differentiate themselves.
E) all of the above
Q4) What is outsourcing? What are the seven major outsourcing errors that should be avoided?
Q5) The use of the Internet to market goods directly to the customer allows a company to use dynamic pricing.
A)True
B)False
Q6) Give an example of a technological leader.
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Chapter 9: Strategy Implementation: Organizing for Action
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) The term used in strategic implementation that describes a system of sequential steps or techniques that describe in detail how a particular task or job is to be done is A) program.
B) guidelines.
C) budgets.
D) course of action.
E) procedures.
Q2) Strategy formulation is the sum total of the activities and choices required for the execution of a strategic plan.
A)True
B)False
Q3) Stage IV of a corporation could involve a pressure-cooker crisis.
A)True
B)False
Q4) Job enlargement is the movement of workers through several jobs to increase variety.
A)True
B)False
Q5) Discuss the five stages of international development.
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Chapter 10: Strategy Implementation: Staffing and Directing
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Sample Questions
Q1) According to the American Society of Training and Development, the average annual expenditure per employee on corporate training and development is
A) $0.
B) $362.
C) $748.
D) $1,182.
E) $2,361.
Q2) Action plans are important for several reasons. Which one of the following is NOT one of these reasons?
A) If the action plan is implemented properly, it ensures that the strategy will be a success.
B) It serves as a link between strategy formulation and evaluation and control.
C) The action plan specifies what needs to be done differently from the way operations are currently carried out.
D) During the evaluation and control process, an action plan helps in the appraisal of the performance and identifying remedial actions needed.
E) Motivation may be improved with the assignment of specific responsibility.
Q3) What information should an action plan include?
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Chapter 11: Evaluation and Control
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Sample Questions
Q1) A global MNC should use what type of controls over its foreign units?
A) Management should be given considerable latitude, but be required to meet some predetermined performance targets.
B) Management should use a matrix structure allowing some limited autonomy of the foreign unit.
C) Management needs to exert tight controls over its many units using a centralized strategic operational decision-making format.
D) Management should use a functional approach assigning distinct and separate responsibilities to each department throughout the MNC.
E) Management should use a divisional approach assigning goals and targets for each product-group on all its foreign units collectively.
Q2) Evaluation and control information consists only of performance data.
A)True
B)False
Q3) What is the most commonly used measure of corporate performance (in terms of profits)? Discuss the limitations of using this measure.
Q4) Discuss the benchmarking process.
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13
Chapter 12: Suggestions for Case Analysis
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Sample Questions
Q1) The index of sustainable growth indicates how much of the growth rate of sales can be sustained by internally generated funds.
A)True
B)False
Q2) Which financial indicator is calculated by the ratio of annual dividends per share to current market price per share?
A) return on equity
B) dividend payout ratio
C) dividend yield on common stock
D) price/earnings ratio
E) debt to equity ratio
Q3) The formula which predicts the likelihood of a corporation going bankrupt is called
A) the return on investment.
B) the CAPM.
C) the index of sustainable growth.
D) operating cash flow.
E) the Z-value.
Q4) In performing a basic financial analysis, what five steps should be taken?
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