With Wise Business, you can receive in up to 10 different currencies and take advantage of local account details, making for quick and convenient transactions. The World Train Organization C. Bill of lading A. switch trade Common exports exchanged from one country to another include energy and natural resources, raw materials like food or textiles, and finished consumer products like . c. join venture A. bill of lading B. D. Developing nations may have trouble raising the foreign exchange necessary to pay for imports. C. insourcing C. It oversees volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. B. True The most significant disadvantage concerning franchising is brand name recognition. 73-75 Main Avenue, LLC, agreed to lease a portion of the commercial D. It collects duties on exported products and sets interest rates for charging foreign investors. A letter of credit reduces an importer's ability to borrow funds for other purposes because: a. the United States, Canada, and Mexico a. international E. offsourcing, Gerard's company used to have one of its clothing lines manufactured by an outside supplier. c. immigrant D. Vietnam, The practice followed bu some companies of moving jobs to another country is called E. barter. a. international Successful exporting requires that agents perform all of the following except _____. The World Bank d. franchising . D. arbitrage Which of the following is an advantage of having a letter of credit? Main advantages of direct exporting are as under: 1. a. the existence of widely torn traditional clothing styles d. delaying the creation of job objectives Companies both large and small now view the world, rather than a single country, as their marketplace. e. intranational, Which model involves fostering communication among subsidiaries to permit transfer of skills? C. gets the time to learn about each market. b. international b. the franchisor has to put in a large amount of capital e. intranational, Exporting, licensing, franchising, joint ventures, and wholly owned subsidiaries are all methods of B. countertrade Large firms generally tend to be _____ about seeking opportunities for profitable exporting. E. The exporting company cannot avoid the common pitfalls of exporting. B. bill of lading C. Firms prefer to be paid in hard currency. A. it may involve the exchange of poor-quality goods that cannot be disposed of profitably. The importer does not have to pay for the merchandise until the documents have arrived. A. proactively and continuously seek export opportunities for their affiliated companies. B. contract B. A. trade acceptance c. identify the best strategy for completing in a global marketplace Click replace all. D. Bureau of Competition C. obtaining pre-export financing. B. D. bill of lading What are your conclusions? b. C. barter Historically, the United States has made its living as a trading nation. A. switch trading Direct. b. keeping the assignment structure open d. imports are failing to penetrate deeper into the world's largest economies e. inpatriates, Which of the following is a reason why some companies prefer to use expatriates at their overseas operations? d. transnational model It is a very complex arrangement. d. The International Monetary Fund Merger b. narrows down the market for managers C. bill of exchange B. D. collecting information. c. uncertainty avoidance A. Which of the following is true of countertrade? C. have offices concentrated in the business district of Tokyo. A. B. d. APEC e. centralizes functions of research and development to the parent company, d. cannot easily launch a coordinated global attack against competitors, Foam Cutters is a speedboat manufacturing company based in California. C. a counterpurchase C. banker's acceptance B. counterpurchase D. strategy management company c. global b. nostalgia E. countervailing duty, The principle of _____ is to trade goods and services for other goods and services when they cannot be traded for money. D. filing a suit against the importer in court. E. countertrading opportunities. D. bill of lading Federal Trade Commission A. easy tracking of the parties involved. Recently, FuturaCloud hired a California-based company to do those services instead. It is a document written by an exporter instructing an importer to pay a specified amount of money at a specified time. B. D. Network of Foreign Trade Executives It starts exporting operations for a firm with the understanding that the firm will take over operations after they are well established. c. multinational B. d. the subsidiaries depend completely on the parent company for new products A. the importer defaults on payment. A. bill of exchange A. it fails to enable firms to finance an export deal. c. India C. free trade e. franchising, Superior Appliances moved some of its manufacturing operations to another country where wages are lower. What can you conclude from this plot? e. Italy, What caused Mexico to emerge as the third-largest trading partner of the United States? E. barter, When a firm enters a(n) _____ agreement with a country, it often ends up with what are called counterpurchase credits, which can be used to purchase goods from that country. E. The trusted third party (usually a bank) issues a letter of credit in the importer's favor and sends it to the exporter's bank. In international trade, an exporter wants to be paid before a consignment is shipped. C. It is the simplest countertrade arrangement. Less common today, but still exercised in straightforward, one-shot deals B. exporter can convert the currency only in U.S. dollars. D. It requires the importer to repay the loan even before the merchandise is sold. What are the advantages of export promotion? Entering several markets simultaneously to hedge risk D. Waiting for export opportunities Like any fundamental change to the way you trade, there are risks as well as benefits you should consider. b. low cost sites are available Which of the following is a drawback of relying on an export management company (EMC)? a. an automative plant A. offshoring B. No cash deposit or collateral is required from the importer. She did admit, however, that C. inshoring C. exporter is dealing with a country that has huge foreign reserves. (D) Inflexibility, competition e. reducing the dependency by communicating rarely, While Cork Commercial Containers was planning how it was going to open a plant in the Phillipines, it brought in Rodrigo, a native of the country, to teach the development team about the country's culture and economy. One of the primary benefits of exporting is access to a global market of buyers. b. differences in traditional practices It provides large revenue and profit opportunities. C. foreign direct investment management firm e. it has reversed the trend of increased automation, c. wages in the foreign countries rise, reducing the expected cost savings, An organization's economic environment includes c. transportation costs are generally lower It provides large revenue and profit opportunities. C. It coordinates a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. As the parent company, NewGen runs its R&D department from its home country, so that each foreign subsidiary remains dependent on it for new products, processes, and ideas. The lessor A. a letter of credit This illustrates the ________ model for global strategy They are private organizations that assist U.S. exporters. D. Japan Sight draft _______ a. A lack of trust between two parties engaged in international trade is exacerbated by the: a. international A. e. expatriates tend to be more available than the local employees, b. expatriates often tend to transfer the corporate culture and best practices to other countries, The main cause of failure of overseas managers is d. expatriation B. offset A. False Using host-country nationals at an overseas subsidiary is generally less expensive than using expatriates. C. It serves as a receipt, a contract, and a document of title. She also denied signing the guaranty agreement. a. purely global strategy d. transnational A. b. IBM D. the importer has to pay even if the conditions stated in the letter are not satisfied. E. lowering unit costs. B. a. ethnocentric d. universal needs Advantages of strategic alliances Facilitate entry into a foreign market Allows forms to share the fixed costs and risks of developing new products or process Bring together complementary skills and assets that neither partner could easily develop on its own Disadvantages of strategic alliances D. International Trade Administration c. greed c. multinational and international A. When serving as collateral, the bill of lading: Disadvantage 2 of exporting You can lose a lot of money for the country. What is Dan experiencing? C. Germany b. the European Union b. anticorruption laws c. immigrants Ports of call allow passengers the opportunity to explore port cities in the Caribbean, Alaska, Mexico, and Canada, just to name a few. a. third-country nationals d. global and international Countertrade is most likely to be used when: e. intranational, The organizational model that enables managers to "think globally but act locally" is the Export the data from quizlet, using ;TAB; for the word-def deliminater and ;BREAK; for the def-word deliminater. D. They are departments in the Small Business Administration. A. a. companies who use offshoring find that their travel costs decrease e. competitive pressures to reduce costs, Colas have become available around the globe, and they are used in similar ways worldwide. b. aging population Which of the following is the first step in a typical international trade transaction? c. multinational Round answer to the nearest cent. d. China d. pressure on a company to reduce costs significantly Advantages of Exporting Strategy can be easily implemented Less investment abroad- small firms can also enter int. d. transnational C. document of title South America Department of Commerce e. vertical axis measures pressures for global systems capacity and the horizontal axis measures pressures for local financial success, a. vertical axis measures pressures for global integration and the horizontal axis measures pressures for local responsiveness, ____ create strong pressure for a global strategy B. the importer is facing stiff competition from other importers. On Wednesday last week (05 April 2023) the Office for National Statistics released its latest detailed data on the UK's imports and exports of services. E. barter, TruWorth Petroleum negotiated a deal with a foreign country in which TruWorth would build several ammonia plants in the foreign country and receive ammonia as partial payment over a 20-year period. E. letter of credit. A. matchmaker program a. it does not provide scale economies Negative effect on world market prices d. bureaucracy c. Mexico e. the Asia Pacific Economic Cooperation group, Which of the following is the largest export market of the United States? d. persistence a. global and transnational Few companies invest more in equipment than Carnival Cruise Lines, the most popular cruise line in the world. A. Time draft A. runs the risk of spreading its limited management resources too thin. Rodrigo is an example of a(n) D. It indicates that the carrier has received the merchandise described on the face of the document. e. inpatriates, ___ are natives of a country other than the home country of the host country of an overseas subsidiary e. contingency, The international model of organization structure involves e. Vietnam, Threats to China's economic future include c. GATT agreement c. culture shock with the new variable, age. c. multinational contract, A major disadvantage of operating a wholly owned subsidiary is that It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. e. patenting, An advantage of licensing as a method of entering global competition is that the Better Knowledge of Customers' Requirements: The manufacturer is in direct touch with the consumers or retailers and can possess a better understanding and knowledge of the requirements of the buyer and can modify, if needed, his product accordingly. Advantages/Disadvantages of importing/exporting (A)Small cash outlay, little risk, no adaptation necessary. of PP Door, signed the lease agreement. Advantages/Disadvantages of Licensing (A) Increased profitability, extended profitability. b. Maastricht Treaty Countertrade accounts for as much as 1/3 of all world trade D. SCORE list The Middle East strategic exam 2-2. . Bank of New York at 73 Main Avenue. The most comprehensive source of information on export opportunities for U.S. firms is the _____. The Department of Commerce Switch trading Compare the actual component percentages to the target percentage. E. exporter has to enter a barterlike agreement. Using the variable, salary, create a box plot. . b. licensing True Family issues are the main reason for expatriates to return home early. d. do a cost-benefit analysis of outsourcing EXPORT TRADE Countries sometimes sell what they produced in surplus to those with deficits in. b. it provides maximum latitude to research and development functions Many medium-sized and small firms are not proactive in seeking export opportunities because: they are intimidated by the complexities and mechanics of exporting to foreign countries. b. lack of adequate housing d. expatriation A. barter Advantages of Exporting for Companies Exports can increase sales and profitsif the goods create new markets or expand existing ones, and they may even present an opportunity to capture significant global market share. The solution. The 10 Benefits of Exporting. In which of the following types of countertrade arrangement are the two parties engaged? E. buyback. Expanding the variety of products for purchase by consumers and business. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. For an importer, which of the following is a disadvantage of using a letter of credit for international transactions? b. a wholly owned subsidiary offers too much flexibility over operations b. Australia A firm that enters many markets at once: It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys. When serving as a _____, a bill of lading is used to obtain payment or a written promise of payment before the merchandise is released to the importer. The governments of developing nations sometimes insist on a certain amount of countertrade. Uncertain value proposition c. global outliers? a. cannot easily transfer core skills among international operations An official of the carrier gives the exporter a bill of lading. B. a buyback C. Letter of credit E. consider export only when there is excess production at home. b. operating a transnational business B. collateral Another advantage of exporting is profitability. E. It starts exporting operations for firms until they are well established. e. etiquette, Which of the following is a consequence of an increasingly integrated global economy? d. The South Pacific D. It organizes trade events that help potential exporters make foreign contacts. E. Offset. d. limits its subsidiaries to market and service functions property at 73 Main Avenue, Norwalk, Connecticut, d. Mexico Exporting outside Northern Ireland can change your business. d. transnational a. local tastes C. promise to pay by the accepting party. b. energy costs for the company rise, increasing the benefits of offshoring D. offsourcing, For the past several years, FuturaCloud hired a firm in India to handle its technical customer support. D. It involves huge cash transactions. e. Unilever, Which of the following models of organization structure depends heavily on communication and coordination between subsidiaries? c. Brazil Which of the following is an advantage of a letter of credit for an importer? b. increase their level of productivity D. It helps companies increase their unit costs. b. international B. Germany has been a relatively self-contained continental economy in which international trade played a minor role. C. a bill of exchange A. E. an export management company is used. e. there are chances to lose quality control, e. there are chances to lose quality control, Which of the following methods of entering global competition runs the biggest risk of conflict between partners over who controls what? They consider exporting only after their domestic market is saturated. d. large amount of discretion is given to the subsidiaries E. Export Credit Insurance Association, The _____ guarantees repayment of medium- and long-term loans U.S. commercial banks make to foreign borrowers for purchasing U.S. exports. a. Brazil Identify which of the following accounts would be included in a post-closing trial balance. What characteristic is Heinrich displaying? C. developing nations have trouble raising the foreign exchange necessary to pay for imports. This practice is referred to as B. a. inpatriation A major advantage of using export strategies to enter international markets is that Multiple Choice these can be used to avoid tariffs and curb the effects of fluctuating exchange rates. a. individualism e. political demands, Which model should a company adopt when pressures for local responsiveness are high and pressures for global integration are low? D. a formal document for acknowledgement is not available. b. licensing B. in-transit bill E. It does not require the importer to pay any fee. _____, a type of countertrade, occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. Thus, a portion of a ship's cost is recorded as an expense each time Carnival sets sail for a new destination. e. sincerity, intro to organizational management Ch. B. outsourcing E. selling the draft to an investor at a discount from its face value. When a time draft is presented to a drawee, he or she signifies acceptance of it by: Are there any outliers? A. the United States b. multinational model To serve the increasing demand for cruises, Carnival is constantly expanding its fleet of ships. e. global transnational, Research suggests that regardless of nationality or religion, most people embrace a set of five core values. E. Avoiding recruitment of local personnel, Entering a foreign market on a small scale. a. 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