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Exam 7: International Strategy: Creating Value in Global Markets

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Question 51

True/False

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The factor endowments of a country are inherited and cannot be created.

A) True
B) False

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Question 52

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Countries with demanding consumers,like environmentally-concerned Denmark,drive __________ to meet the demand.

A) worldwide innovation
B) in-country innovation
C) foreign manufacturing
D) global exchange

E) A) and B)
F) C) and D)

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Question 53

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Canada and Mexico are the same distance from the United States,but trade is higher between the U.S.and Canada than with Mexico because

With regard to factor conditions,the pool of resources that a firm (or nation)has is much more important than the speed and efficiency with which these resources are deployed.

In addition to responding to pressures to lower costs,managers must strive to be responsive to global pressures in order to tailor their products to the demand of the local market in which they do business.

When considering the exporting decision,companies should consider that the ability to tailor their products to meet local market needs typically is very limited.

According to studies by Rugman and Verbeke,most of the 500 largest companies in the world are global.

The Indian software industry has become one of the leading global markets for software.The industry has grown to over 60 billion USD,and Indian IT firms provide software and services to over half the Fortune 500 firms.This success is being driven by related and supporting industries such as a large network of public and private educational institutions.

A multidomestic strategy would likely include the use of high volume,centralized production facilities to maximize economies of scale.

Which one of the following is not a Western hemisphere trade bloc?

What agreement entails the creation of a third-party legal entity?

Two opposing pressures that managers face when they compete in foreign markets are cost reduction and adaptation to foreign markets.

International expansion can extend the life cycle of a product that is in its maturity stage in the company home country.

According to Exhibit 7.1 in the textbook,the country experiencing the lowest rate of growth in GDP from 2001-2011 was

__________ occurs when a firm decides to utilize other firms to perform value-creating activities that were previously performed in-house.

Regions represent the outcomes of centuries of political and cultural history that results in not only _________ but also mutual _____________.

The need to attain economies of scale encourages multinational firms to operate under a multidomestic strategy.

According to the textbook,globalization involves international exchange.Included in this exchange is trade in goods and services as well as the exchange of __________,__________,and _________ across countries.

The World Bank publishes the Euromoney magazine Country Risk Rating semiannual report.In the text,the January 2013 sampling of these ratings indicates that Norway is the best country in which to invest in terms of its expected level of risk based on the evaluation of its political,economic and structural risks and debt indicators and access to capital.

According to The Economist article explained in Exhibit 7.1 in the textbook,the rate of GDP growth is the highest in the European Union and the United States.