Exam 1: An Overview of International Business

The primary benefit of worldwide partnership is the right to use the Olympic logo on all advertising by the sponsor.

Singapore Airlines' ________ is its award-winning standards of customer satisfaction.

International licensing occurs when a firm in one country authorizes a firm in another country to use its operating systems, brand name, trademark, and logo in return for a royalty payment.

What is the largest component of international trade in the service industry?

During the Cold War, low-income countries in ________ were primarily considered suppliers of raw materials to First World countries.

What is an emerging economy? Provide examples of emerging economies.

International nonprofit organizations are called ________.

After World War I, international business was primarily restricted by ________.

The Internet has facilitated the entry of small businesses into international markets.

What is a core competency? How do firms benefit from their core competencies?

During the next decade, what trends are expected in international business activity? What are the most likely reasons for this trend?

Sony's suppliers deliver necessary inputs as they are needed by Sony. Sony is most likely using a(n) ________ system.

Licensing usually involves permission to use all of the following EXCEPT ________.

What are the two primary methods for conducting international business? What role has globalization played in these two methods?

Firms that enter new markets can benefit from economies of scale and diversified revenue streams.

Why are small businesses becoming more involved in international business? What is the simplest way for a small business to globalize?

Which of the following countries has the LEAST dependence on exporting for its overall GDP?

Any organization that engages in cross-border commercial transactions with individuals, private firms, and/or public sector organizations is a(n) ________.

________ is a contractual arrangement in which a firm in one country allows the use of its intellectual property by a firm in a second country in return for a royalty payment.

Is foreign direct investment more or less important to the world economy today as compared to 1980? Why do you think this is the case?