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MGMT 363
| Question | Answer |
|---|---|
| Which prefix best describes the spirit of globalization? | Inter- |
| What is the imperative that drives companies to become more global? | To aim for growth To meet customer needs To pursue knowledge |
| There is a strong correlation between changes in national trade volumes and national GDP growth. | true |
| Until the end of the twentieth century, international trade was mostly concentrated among the developed countries of the Northern Hemisphere. Which country was the largest exporter in the world in 2019? | China |
| Which of the following country had a trade deficit in 2019? | USA |
| primary reason for the rapid growth of global trade in recent years? | Creations of international institutions Advances in Information & transportation technologies Global population growth |
| A country enjoys an absolute advantage in the production of a particular good when it can produce it at a lower price than another country. | True |
| According to Adam Smith, countries trade when they enjoy a comparative advantage over other countries in the production of a given product. | False |
| The International Product Life Cycle Theory explains why there are no televisions manufactured in Great Britain and the United States, although that technology was invented in those countries. | True |
| A country often enjoys a comparative advantage because of the abundance of a particular production factor (land, labor, capital, or entrepreneurship) within its borders. | True |
| Before the 1950s, logistics was thought of in which of the following term? | military |
| Which of the following word best describes the organization within a typical firm around the activities currently associated with logistics before the 1950s? | Fragmented |
| A software package that allows a company to ensure that it is in compliance with international rules, monitor the location of its goods, and optimize its shipping decisions, is generically called | Global Trade Management |
| When they first go into international trading, most companies first do so after careful planning and thoughtful strategic planning. | False |
| Most export management corporations are small firms, typically with fewer than fifteen employees. | True |
| The granting of rights to intellectual property owned by a company to another company for a fee is the definition of a licensing agreement between two corporations. | True |
| An advantage of parallel imports (or gray markets) is the increased amount of control that a company has over a product after it has been sold. This is good, especially, for luxury goods. | False |
| Joint ventures were developed as ways to partner with a politically well-connected company in a foreign country to help prevent things like the nationalization of a foreign company by the host government. | True |
| The company that develops a business product or concept and grants rights to a large number of intellectual property items all bundled in a business package is called a franchisor. | True |
| A distributor takes much less risk in its relationship with an exporter than does an agent and experiences much lower costs. | False |
| When a distributor is involved in international trade, there are two sets of invoices: one set between the exporter and the distributor (who is also the importer), and a set of domestic invoices between the distributor and its customers. | True |
| Not only are export trading companies helpful for organizations who are novices at international trade, but as an organization becomes more involved in international trade, the export trading company becomes more of a necessity. | False |
| An export trading company is an intermediary which will purchase goods in the exporting country and will resell them to a customer in a foreign country. | True |
| There are three types of factors included in the entry decision for an exporter: factors that are market-driven, factors that are company-driven, and factors that are product-driven. | True |
| If an exporting firm wants to change from a strategy where it has used agents or distributors to a strategy based upon sales subsidiaries, it is usually easy and painless to make this switch. | False |
| Unique, powerful Japanese trading companies are called | sogo shosha |
| As a company grows in exporting sophistication, it should not become involved with an export trading company because | customers abroad are customers of the export trading company, not the exporter |
| An export management company earns its revenue through | sales commissions |
| In its relationship with an agent, an exporter is known as the | principal |
| Because agents tend to be individuals or very small firms, governments in some countries put them under | labor law |
| An exporter has the most control over its foreign sales through a(n) | sales or marketing subsidiary |
| Usually, a distributor is located | in the importing country |
| When manufacturing costs are lower abroad, when shipping costs are prohibitive, when domestic manufacturing capacity is reached, or when the product has significant intangible content, such as services, a company may consider | production abroad |
| When a company has a subsidiary in a foreign country, as far as the foreign country’s government is concerned that subsidiary is | the importer of record |
| Which of the following is NOT considered as an advantage of using Licensing as an entry mode/strategy? | A licensee can become the licensor's competitor |
| Who should franchise? | Franchising is appropriate for retail operations that involve a service requiring low-level skills, such as fast-food restaurants, car-repair shops, hotels, and car rental outlets. |
| Which of the following entry strategy has the highest capital investment? | Wholly owned foreign enterprise |
| Which entry method is appropriate for a novice exporter or a company that is unable to dabble in the complexities of an occasional international transaction? | ETC or EMC |
| Given the differences logistics managers may find in other countries and cultures, it is important for them to adapt to what is unfamiliar in those other countries and cultures. | True |
| A country’s court system is part of its infrastructure. | True |
| The infrastructure that most obviously affects the movement of goods internationally is the communications infrastructure. | False |
| As the size of ships has increased, ports have been challenged in keeping up with their ability to handle them. | True |
| Many ports have had to dredge channels to allow ships with drafts of up to 40 feet. | True |
| A crossing of the Suez Canal, which allows a ship to not have to go around the entire continent of Africa, can cost million dollars. | True |
| For the most part, the emphasis on European railroads has been upon freight rather than passenger service. | False |
| A common problem with the utilities part of the national infrastructure is the availability of electricity. | True |
| Intellectual property protection is well protected worldwide | False |
| Of the following, the best definition of a logistics infrastructure would be that it consists of | all of the elements in place to facilitate transportation, communication, and business exchanges |
| Neo-Panamax and Post-Panamax ships have resulted in | cranes being unable to reach across post-Panamax ships |
| Factors contributing to the rise of U.S. freight railroads since about 1980 are | road congestion, concerns about pollution and noise, and development of the multi-modal container |
| One of the first problems faced by an international logistics manager has to do with | infrastructure |
| The only water link between the Black Sea and the oceans is | the Bosporus Strait |
| As a defense measure to keep invading military troops from using their railroads, Spain and Russia | developed widths between the rails (gauges) different from those of the rest of Europe |
| Because some ports are becoming increasingly limited in their ability to handle ever-larger ships it is possible that | large ships will go to “hub” ports where “feeder” ships will traverse to and from the smaller ports |
| Among characteristics of the Saint Lawrence Seaway is/are | it links the Great Lakes to the Saint Lawrence River and the Atlantic Ocean |
| The busiest cargo airport in the world is | Hong Kong |
| Since most airports are geographically close to large cities, their hours of operations are generally limited by | noise constraints |
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Alaina_1212