International Entrepreneurship
Chapter Exam Questions
Course Introduction
International Entrepreneurship explores the processes, strategies, and challenges associated with launching and managing new ventures in a global context. The course examines how entrepreneurs identify and evaluate international business opportunities, adapt business models for diverse cultural and regulatory environments, and secure resources across borders. Key topics include international market entry strategies, cross-cultural management, legal and ethical considerations, and the impact of globalization on innovation and growth. Through case studies and real-world examples, students develop the skills necessary to build and scale entrepreneurial ventures in dynamic international markets.
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International Business 1st Edition by Michael Geringer
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Page 2
Chapter 1: The Challenging Context of International Business
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Q1) Which of the following is an argument presented in support of opponents of globalization?
A) A report by the Labor Secretariat for the North American Free Trade Agreement (NAFTA) reported that more than half of firms surveyed used threats to close U.S. operations as a tool to fight union-organizing efforts.
B) Although labor standards in developing countries are usually lower than in industrialized countries, they are rising.
C) Multinationals investing in host nations pay higher wages, create new jobs at a faster rate, and spend more on R&D than do local firms.
D) Developing countries may feel that lower-cost labor constitutes their competitive advantage and that if they are forced to implement more stringent labor standards, it may damage their prospects for improved economic development.
E) The economic growth fostered by globalization can help generate and distribute additional resources for protecting the environment.
Answer: A
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Chapter 2: International Trade and Investment
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Q1) The level of merchandise exports in 2013,worldwide,was
A) $4.6 trillion.
B) $8.5 trillion.
C) $12.3 trillion.
D) $18.8 trillion.
E) $23.4 trillion.
Answer: D
Q2) ____________ refers to the establishment of new facilities from the ground up.
Answer: Greenfield investment
Explanation: Greenfield investment refers to the establishment of new facilities from the ground up.
Q3) The purchase of stocks and bonds to obtain a return on the funds invested is known as __________.
Answer: portfolio investment
Explanation: The purchase of stocks and bonds to obtain a return on the funds invested is known as portfolio investment.
Q4) In 2013,trade in ____________ reached a total of $18.8 trillion worldwide.
Answer: goods
Explanation: In 2013, trade in goods reached a total of $18.8 trillion worldwide.
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Chapter 3: Sociocultural Forces
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Q1) Kinship and free association are
A) structures for political action.
B) social structures used to develop marketing programs.
C) social institutions found in all societies and categorized by the conditions of their formation.
D) levels of the Masons found in Europe but not the U.S.
Answer: C
Q2) Hofstede describes his pragmatic versus normative dimension as dealing with Virtue regardless of Truth.
A)True
B)False
Answer: True
Q3) Trompenaars's dimension of individualism versus communitarianism differs greatly from Hofstede's individualism-collectivism dimension.
A)True
B)False
Answer: False
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Chapter 4: Sustainability and Natural Resources
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Q1) The precautionary principle establishes that:
A) the industry has the duty to prove that its products are not dangerous.
B) government testing decides which chemicals require monitoring.
C) the marketplace can monitor chemical safety, following the invisible hand.
D) free enterprise and buyer beware are sufficient monitors on chemical safety.
Q2) ____________ is the only continent without an inland waterway system.
Q3) Mountains tend to impede trade,whereas flat areas tend to facilitate trade relationships.
A)True
B)False
Q4) The stakeholder model requires businesses to think about:
A) the stakeholders' interest in profitability.
B) the network of tensions caused by competing demands.
C) strategy in light of sustainability.
D) the frequency of social issues faced by the stakeholders.
Q5) Natural gas:
A) includes gas from oil, heavy oil, and oil sands.
B) is mostly sourced through imports in the U.S.
C) used in the U.S. frequently originates in China.
D) consumption is increasing because it is the cleanest of the fossil fuels.
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Chapter 5: Political Forces That Affect Global Trade
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Q1) When government-owned companies compete with private companies,the private companies have the advantage.
A)True
B)False
Q2) Unlike quotas,voluntary export restraints (VERs)are imposed by
A) the importing country's government.
B) the exporting country's government.
C) either the importing or exporting country's government; what matters is that they are voluntary.
D) the importing company.
Q3) The cost of cybercrime to the perpetrator is
A) exceedingly high, so as to be a deterrent.
B) almost nonexistent, because few criminals are apprehended.
C) difficult to determine, because security issues prohibit publication of trials.
D) negligible, because few laws have been updated to include cybercrime.
Q4) The U.K.'s ____________ was recently privatized and shares can be purchased on the London Stock Exchange.
Q5) ____________ is hijacking that includes kidnapping on the seas.
Q6) ______________ was a leader of Britain's most recent privatization efforts.
Page 7
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Chapter 6: Intellectual Property Rights and Other Legal Forces
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Q1) In the EU,_____________ protects property rights of an innovation that is absolutely novel and not available to the public in any form.
Q2) Trade obstacles can take the form of
A) political, financial, or legal regulations.
B) financial or economic regulations.
C) economic or environmental regulations. D) marine safety rules and import duties.
Q3) In Japan,anti-trust legislation
A) was introduced by the U.S. and did not harmonize well with Japanese values. B) developed out of a samurai code of ethics.
C) has been influenced by Chinese and Korean approaches to monopoly markets. D) does not exist.
Q4) The World Intellectual Property Organization (WIPO)is a UN agency that administers 24 intellectual property treaties.
A)True
B)False
Q5) Many people outside of the U.S.would prefer to solve a dispute through _________ rather than through the U.S.legal system.
Q6) Competition or antitrust laws are intended to prevent __________.
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Chapter 7: Economic and Socioeconomic Forces
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Q1) Economies with per capita incomes in the low to middle range that are in a transition toward developed status are referred to as ______________.
Q2) To estimate ______________,managers require data on the size and the rates of change of economic and socioeconomic factors.
Q3) Generally,we can assume that the higher the GNI/capita value
A) the lower the tax rate.
B) the smaller the population.
C) the larger the population.
D) the more advanced the economy.
E) the higher the growth rate.
Q4) From comparisons of income distribution studies over time,it appears that in early stages of development
A) income inequality decreases.
B) income inequality stays the same.
C) the upper and lower quintiles grow at the expense of the middle quintile.
D) the middle quintile grows at the expense of the upper and lower quintiles.
E) The upper quintiles grow at the expense of the middle and lower quintiles.
Q5) The __________ is a measure of the degree to which family income within a country is distributed equally.
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Chapter 8: The International Monetary System and Financial Forces
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Q1) The balance of payments (BOPs)is a record of a country's transactions with only its major trading partners.
A)True B)False
Q2) The Fisher effect describes interest rate parity; it's the law of one price applied to interest rates.Interest rates vary to take anticipated differences in inflation levels into account.
A)True B)False
Q3) That the real interest rate will be the nominal interest rate minus the expected rate of inflation is known as the ______________.
Q4) _____________ is the simultaneous buying and selling to make a profit with no risk.
Q5) The ______________ describes that when a national currency becomes a reserve currency,over time,people lose confidence in it due to inevitable domestic deficits,and it loses value.
Q6) Often a nation's market intervention involves ___________ its currency in the market to increase its price.
Page 10
Q7) In 1971,__________ took the U.S.off of the gold standard.
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Chapter 9: International Competitive Strategy
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Q1) International firms have found it necessary to institute formal global planning
A) to eliminate the practice of informal planning.
B) to provide top management with a means to identify threats and opportunities worldwide.
C) to promote different courses of action among the firm's managers worldwide.
D) to serve as an input for scenario building.
Q2) Because strategic plans are fairly broad,________ (also called operational)plans are a requisite for spelling out in detail how the objectives will be reached.
Q3) ________ are multiple,plausible stories for probable futures.
Q4) A broad statement that defines the purpose for a company's existence is the mission statement.
A)True
B)False
Q5) Scenarios are multiple,plausible stories for probable futures.
A)True
B)False
Q6) The primary value of ________________ efforts is not so much the strategic plans that are created but rather the transformation in strategic thinking that results from this activity.
Page 11
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Chapter 10: Organizational Design and Control
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Q1) In the future,managers in many ICs can expect to make greater use of the ______ network structure that breaks down the major functions of the firm into smaller companies coordinated by a downsized headquarters organization.
Q2) According to the text,the two main issues for management to consider in designing an international company's structure include which of the following?
A) Departmentalizing to most effectively take advantage of efficiencies gained from specialization of capital.
B) Integrating functions to achieve lowest possible costs.
C) Ensuring that policies and procedures can enable continued product innovation.
D) Coordinating departments' activities to meet the firm's overall objectives.
E) Ensuring that power is dispersed so that dependency on individual units is minimized.
Q3) The type of structure that is popular with companies that manufacture products with a rather low or stable technological content that requires strong marketing ability is
Q4) Few international companies are organized by __________ at the top level.
Q5) Explain why and where decisions are made among ICs and their subsidiary units.
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Chapter 11: Global Leadership Issues and Practices
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Q1) According to Warren Bennis
A) the leader inspires, while the manager controls.
B) the leader orders, while the managers requests.
C) the leader is charismatic, while the manager is a functionary bureaucrat.
D) the leader is acclaimed, while the manager is appointed.
E) the leader initiates, while the manager waits for directives.
Q2) Global teams are characterized by all of the following except
A) their virtuality and use of many media.
B) their geographic dispersion.
C) their high levels of diversity.
D) their differing member contexts.
E) their extensive use of face-to-face interaction.
Q3) Cultural ______ is the extent to which you appreciate contributions of host nationals and recognize that you have something to learn from their country.It allows you to understand how your behavior is interpreted by the host country members with whom you interact.
Q4) Team norms are legitimate,shared standards against which the appropriateness of behavior can be evaluated.
A)True
B)False
Page 13
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Chapter 12: International Markets: Assessment and Entry Modes
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Q1) A definable segment is one that A) can be identified and measured.
B) has a clear reason and purpose.
C) is understood by the client. D) relies on lifestyle differences.
Q2) Some firms grant licenses to other firms in order to reduce the competitive level of a potential rival,especially in the fashion industry.
A)True
B)False
Q3) In what order is the selection of foreign markets process presented in the textbook?
A) Basic needs, sociocultural, economic/financial, political, and competitive
B) Basic needs, economic/financial, political, sociocultural, and competitive
C) Basic needs, political, economic/financial, competitive, and sociocultural
D) Basic needs, competitive, political, economic/financial, and sociocultural
Q4) ____________ is a type of licensing that includes a brand name,marketing support,and operational rules or procedures.
Q5) To move from market factors for one country to another similar country involves estimation by __________.
Page 14
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Chapter 13: Marketing Internationally
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Q1) Internet domain names
A) need to be registered in each country, because the person registering the name has legal control over it.
B) can be disputed in the World Court.
C) belong to the company that uses the name first in each market.
D) are sold on a secondary market and can be reacquired through intermediaries.
Q2) A tremendous tool for pricing options,the ___________ is redefining the process of pricing.
Q3) The two pricing concerns in overseas markets are foreign national pricing and
Q4) The benefits from standardization of the marketing mix are lower costs,easier control,and reduction of time in preparing the marketing plan.
A)True
B)False
Q5) Discuss the differences between the physical product and the total product,with examples.
Q6) Promotion is all forms of communication between a firm and its public.
A)True
B)False
Q7) Nestlé uses two ________ on a single product,a global one and then a local one.
Page 15
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Chapter 14: Managing Human Resources in an International Context
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Q1) Companies are sending expats to a broader range of countries than ever before,and surveys suggest that the average age of expats is ______.
Q2) Studies have shown that immigrants to the United States create new ______ at a rate 30 percent greater than do native-born citizens,contributing to job creation and economic growth.
Q3) Migrant labor stretches from
A) highly skilled to 3-D jobs.
B) low-skilled to 3-D jobs.
C) high-tech to pharmaceutical jobs.
D) competitive to easy-to-fill jobs.
E) unskilled to semiskilled jobs.
Q4) Being from another country qualifies expatriates for international status.
A)True
B)False
Q5) Because of the importance of the workforce to the effectiveness of organizational operations,a company's approach to international human resource management (HRM)should drive its competitive strategy.
A)True
B)False
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Chapter 15: International Accounting and Financial Management
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Q1) The SEC allows
A) foreign companies to list on U.S. exchanges using IASB standards.
B) foreign companies to list shares in U.S. exchanges if they relist according to FASB.
C) foreign companies to list only as ADRs.
D) domestic companies to list on U.S. exchanges using IASB.
Q2) When external equity is used
A) part of the firm's ownership is being sold.
B) interest rates are a critical obligation.
C) the firm is stronger because control is diffused.
D) shareholders can add management strength to the firm.
Q3) In some firms,the finance operation has been centralized and works a bit like a company _____________.
Q4) ___________ are stock shares of foreign companies held by an intermediary,usually a bank,for a U.S.investor in the United States.
Q5) The rule of thumb on capital structure choices is that
A) debt financing is less expensive than equity financing.
B) debt financing is more expensive than equity financing.
C) debt financing is safer than equity financing.
D) equity financing is cheaper than debt financing.
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Chapter 16: Appendix A: International Institutions From a Business Perspective
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Q1) The World Bank's two major institutions are the International Development Association and the
A) collateral-based Lending Agency.
B) International Bank for Reconstruction and Development.
C) International Microloan Bank.
D) International Bank for Development.
Q2) Discuss the observation made recently by an undergraduate philosophy major that "the major international institutions are concerned with keeping the rich countries rich,at the expense of the poorer ones."
Q3) Among trading blocs,the EU has the largest GDP per capita.
A)True
B)False
Q4) Informal institutions are of two types,
A) normative and cognitive.
B) successful and unsuccessful.
C) normative and inspirational.
D) normative and cultural.
Q5) The WTO's second principle is _____________ trade through negotiation.
Q7) TRIPS is a WTO acronym for________ Page 18
Q6) What distinguishes the permanent members of the Security Council is their
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Chapter 17: Appendix B: Export and Import Practices
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Q1) A document issued by the buyer's bank in which the bank promises to pay the seller a specified amount under specified conditions is a
Q2) Mistakes in selecting foreign distributors and sales representatives are not an issue new exporters face.
A)True
B)False
Q3) On an open account,the buyer assumes all of the payment risk.
A)True
B)False
Q4) Which of the following is the most risky for an exporter?
A) Cash in advance
B) Irrevocable letter of credit
C) Bank collection time draft
D) Consignment
E) Revocable letter of credit
Q5) The Incoterm acronym CIP (named place of destination)refers to the situation where ______ and ______ are paid to destination,with risk passing from the seller when goods are handed to the carrier.
Q6) Rebates on customs duties are known as
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Chapter 18: Appendix C: Global Operations and Supply Chain Management
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Q1) While indirect production-oriented goods have been the focus of management attention for many years,the purchasing of goods and services that are part of finished goods-termed indirect procurement-is also critical.
A)True
B)False
Q2) When a new plant can be built that is a duplicate of others already functioning
A) labor trainers experienced in the operation of the machinery can be sent to the new locations without undergoing any training.
B) costs will be the same as in existing locations.
C) vendors will be requested to furnish equipment that they have supplied previously. D) manufacturing specifications from the technical department still require alterations.
Q3) In the case of the United States,intrafirm trade accounts for _____ percent of imports of goods.
A) over 60
B) 25 to 40
C) 35 to 50
D) 10 to 15
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