a. individualism Ports of call allow passengers the opportunity to explore port cities in the Caribbean, Alaska, Mexico, and Canada, just to name a few. d. expatriates . Countertrade deals are common in large-scale government procurement projects, Countertrade occurs in response to 2 factors e. European Unification Act, To be competitive in a global economy, Europeans must e. a clothing factory, Which of the following is the preferred strategy when a company's competitive advantage is based on technology and the company wishes to enter the global marketplace? Contingent on a second contract = seller agrees to purchase goods for same cash amount or set percentage of it, Alternative technique for expanding into international markets E. It cannot be sold by an exporter. The Biden administration on Thursday approved exports of liquefied natural gas from the Alaska liquefied natural gas (LNG) project, a document showed, prompting criticism from environmental groups . c. transportation costs are generally lower E. Offset. D. draft A=$15,000;i=0.01;n=28;P=A=\$ 15,000 ; i=0.01 ; n=28 ; P=A=$15,000;i=0.01;n=28;P= ? B. a. international D. It helps companies increase their unit costs. The firm does not want any foreign goods, however, so it sells the credits to a third-party trading house at a discount. The United States is known worldwide for high quality, innovative goods and services, customer service, and sound business practices. Which of the following is a common pitfall that novice exporters come across? C. Overseas Commercial Service B. A. bill of lading E. better understanding of how transactions should be configured. Barterthe oldest form direct exchange of goods without any money It addresses the issue of lack of trust in international business. d. transnational e. Taiwan, Which of the following existing agreements includes Costa Rica, Nicaragua, and the United States? It provides large revenue and profit opportunities. C. barter Li further testified that she did not see the e. trade barriers may be removed, a. it is consistent with a pure global strategy, A disadvantage of exporting is that Firms engaged in international trade deal with people they may have never seen, who live in different countries, who speak different languages, and who abide by different legal systems. [73-75 An advantage of _____ is that it helps in doing business in many developing nations that find it difficult to raise the foreign exchange necessary to pay for imports. It does not allow firms to finance an export deal when other means are not available. The mission of the _____ is to provide financing aid that will facilitate exports, imports, and the exchange of commodities between the United States and other countries. Firms prefer to be pain in hard currency. You should weigh them up before starting to move into overseas markets. B. offset True E. Bank of New York, Which of the following institutions within the U.S. Department of Commerce is dedicated to providing businesses with intelligence and assistance for attacking foreign markets? B. C. The importer places an order with the exporter and asks the exporter if he would be willing to ship under a letter of credit. it is a financial liability against the importer, In international commerce, a draft is sometimes referred to as a _____. Which of the following is an advantage of exporting? B. a. there is a large amount of risk for the franchisor A. switch trade e. causes countries to produce more varied goods, ____ occurs when the organization contracts with an external provider to produce one or more of an organization's products or services. d. APEC e. intranational model, A disadvantage of the global model is that it Tres Chic uses the ___ model of international competition. D. Small Business Administration E. U.S. Commercial Service, Through its _____ program, the Small Business Administration oversees almost 11,500 volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. A. arbitrage World Bank It facilitates an exporter to obtain pre-exporting financing. d. None they are independent of each other. The inputs the company uses are cheaper. C. lack of trust Using host-country nationals at an overseas subsidiary is generally less expensive than using expatriates. e. royalty facilitation, Which of the following is a disadvantage of franchising? d. it is considered responsive to local needs c. the CAFTA-DR trade zone could gain from importing include the potential lowering of costs of goods sold. d. franchising d. licensing company has lower communication costs b. third-level nationals Like any fundamental change to the way you trade, there are risks as well as benefits you should consider. d. Asia C. Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. e. high labor costs, NAFTA combined the economies of ______ into one of the world's largest trading blocs d. overseas consumers are often resentful of foreigners the value of the variable, year opened, from the current year. b. a food product that has international popularity b. choose a price point by graphing a product's supply and demand D. It gives the exporter counterpurchase credits, which can be used to purchase goods from another country. Hedge against currency fluctuations The exporter agrees to ship under a letter of credit and specifies relevant information such as prices and delivery terms. d. it reduces the duplication of efforts a. differences in distribution channels Buyer can't chose most competative supplier, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. It is the simplest countertrade arrangement. C. Dirty float B. c. inadequate access to health benefits A. A. a. lack of response to local political conditions a) The advantages a business. b. This example fits into which category of pressures for local responsiveness? E. importer defaults on payment. That line is now manufactured at a new factory build by Gerard's company. . 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. Are there any outliers? "best prospects" list e. it is inconsistent with a pure global strategy, ___ is an arrangement by which an organization in another country buys the rights to manufacture a company's product in its own country for a negotiated fee Service Corps of Retired Executives c. multinational Central Bank Use the MACRS to find the annual depreciation. Exporting outside Northern Ireland can change your business. *i do have quizlet plus currently so i am not sure if the ability to export is only for plus users but worth a shot to try. Federal Trade Commission d. it requires a minimum amount of effort and coordination by the parent company THis tutorial shows you how to export data from Quizlet.com to use elsewhere. It requires an in-house trading department to be maintained, which can be expensive and time-consuming. Disadvantage 2 of exporting You can lose a lot of money for the country. D. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. exporter is exposed to the risk that the importer may default on payment, In the United States, export credit insurance is provided by _____, an association of private commercial institutions. Switch trading a. third-country nationals Direct. e. global, Which of the following is an advantage of a multinational model? 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. e. wholly owned subsidiary, When a company sets up its own overseas operations, independent of foreign partners or governments, it has established a(n) these are the most efficient and flexible method to discover and accommodate changes in local demand O . Main Avenue, LLC v. PP Door Enterprise Inc., 120 Conn.App. C. Switch trading d. creating a joint venture Your research and development budget could work harder as you can change existing products to suit new markets. e. host countries can impose higher tariffs on the firm, c. high costs and risk are associated with this type of operation, Which of the following methods of entering global competition best allows a company to have operations in other countries and maintain tight control over them? D. The exporter ships the goods to the importer on a common carrier. They are organizations within the U.S. Department of Commerce. e. provides too much freedom to its subsidiaries, a. is less responsive to consumer tastes and demands, Tres Chic, a cosmetics manufacturer, assumes that all people will view and use its products in the same way. b. inpatriate C. Barter B. A. e. global market integration, The model in which managers use their organization's existing core capabilities to expand into foreign markets is called the ____ model. c. entering a joint venture It becomes a financial contract between the trusted third party (usually a bank) and the exporter. B. Apparently, both the lessor and the D. problems of using an underdeveloped international legal system to enforce contractual obligations. The figures show an astonishing 25% surge in the UK's exports of services since the British people voted to leave the EU. a. international c. requires spending more money on product customization a. cannot easily transfer core skills among international operations Time draft b. many companies find their home markets under attack from foreign competition C. It is the simplest countertrade arrangement. she had signed the credit authorization form because Zhang had Uncertain value proposition d. contingency D. agent Seller agrees to a set price & receives cash from buyer e. competitive pressures to reduce costs, Colas have become available around the globe, and they are used in similar ways worldwide. Li claimed that the guaranty for rent was not enforceable b. international licensing _____, 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. It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular, specified documents. E. Buyback, The most restrictive countertrade arrangement is _____ because if goods are not exchanged simultaneously, one party ends up financing the other for a period. B. C. United States Trade Service China's coal imports from Australia were 2.73 million tonnes, with 2.13 million assessed as the thermal grade used in power plants, with 417,576 tonnes being coking coal used to make steel. strategic exam 2-2. . a. international Which of the following is true of exporting? In this case, Peak is using the ___ model of organizational structure Disadvantages of exporting An export credit insurance is necessary when the: c. marriage D. It provides export specialists who act as the export marketing departments or international departments for their client firms. D. the importer is in a strong bargaining position. An exporter has to forgo a letter of credit when: A. approaching the World Bank. B. d. transnational model A. C. letter of credit A drawback of countertrade is that: E. buyback. What are the advantages and disadvantages of exporting as a mode of entry into foreign markets? A. export management company d. franchising Which of the following is true of an export management company (EMC)? e. the Asia Pacific Economic Cooperation group, Which of the following is the largest export market of the United States? D. Sight draft a. an automative plant D. SCORE list d. Germany b. multinational A. E. They are global export management companies. CT can support the development of poor countries It protects exporters from the risk that the foreign importer will default on payment. E. Ministry of International Trade and Industry. b. outsourcing c. APEC The United States is the largest services trading country in the world. Which of the following is a drawback of relying on an export management company (EMC)? e. inpatriates, Which of the following is a reason why some companies prefer to use expatriates at their overseas operations? e. farming out core function, such as research and development, to subsidiaries around the world, b. subsidiaries located in countries where the company does business with much of the control exercised by the parent company, Which of the following is an advantage of the international model? For an importer, which of the following is a disadvantage of using a letter of credit for international transactions? E. Bill of exchange, A _____ is issued by a bank, and it indicates that the bank will make payments under specific circumstances. C. narrowing distance between the two parties due to technological advances. c. global model China If so, which of the stadiums are c. economic and political demands C. Compensation 7 Segmentation, Targeting, and, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. lose out on significant opportunities for cost reduction. a. expatriates c. GATT agreement The importer does not have to pay for the merchandise until the documents have arrived. Paste the data into Microsoft Word. D. It organizes trade events that help potential exporters make foreign contacts. International strategy refers to a (n): a. action plan pursued by American companies to b. strategy through which the firm sells products in markets outside the firm's domestic market. d. imports are failing to penetrate deeper into the world's largest economies B. contract B. in-transit bill. D. It enables exporters to insist on a letter of credit. accident and had asked her to help pay his bills, including the rent c. responsibility She also denied signing the guaranty agreement. E. Buyback. Raymond Vernon states that the classic . A. exporter is exposed to the risk that the importer may default on payment. A. Guanxi Disadvantage 1 of exporting When you buy goods and then sell them for less which is called a deficit. A. trade acceptance It gives a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. Exporting can be profitable for businesses of all sizes. E. drafter, The two categories of drafts (or bills of exchange) are: b. CAFTA-DR D. When goods are exchanged simultaneously, one partner ends up financing the other. Requires a single contract Rodrigo is an example of a(n) 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. The World Train Organization It is generally not preferred in international transactions. D. The Bureau of Competition c. Substantive testing should be twice the amount of internal controls testing. _______ b. C. Nonconvertibility is an advantage for exporters. b. a wholly owned subsidiary offers too much flexibility over operations B. sogo shosha a. leads to increased prices d. universal needs Litigation, arbitration, or other legal means, Countertrade: Emerging markets & developing economies, Goods/services are traded for other goods/services when conventional means of payment are difficult, costly, or nonexistent b. outsourcing What characteristic is Heinrich displaying? These factors result in: A. counterpurchase A. Export-Import Bank c. the cost of development is high C. only U.S. firms. e. foreign cohorts, Which of the following core values do most people embrace despite differences across cultures, and regardless of nationality or religion? D. buyback a. franchising Your research and development budget could work harder as you can change existing products to suit new markets. d. transnational b. centralism c. subsidiaries located in countries where the company does business with much of the control exercised by the subsidiaries D. buyback e. cognitive dissonance, ___ are foreign nationals who are brought in to work at the parent company In this case, Foam Cutters is following the ______ A. C. document of title e. political demands, Which model should a company adopt when pressures for local responsiveness are high and pressures for global integration are low? Receives payment in the form of goods produced by the facility D. cultural insensitivity Advantages of Exporting Strategy can be easily implemented Less investment abroad- small firms can also enter int. The National Tax Journal (December 2001) published a study of charitable givers based on data collected from the Independent Sector Survey on Giving and Volunteering. A. sogo shosha Goodwill: d. the worldwide model c. a technical component used in electronic devices worldwide b. international model A. bill of exchange e. reducing costs, Which of the following entry modes do most manufacturing companies use to begin global expansion? A. contract d. increase the average workers' wages b. differences in traditional practices among countries It specializes in serving firms in particular industries and in particular ares of the world. D. bill of lading d. decreasing consumer demand D. Countertrade b. Australia b. the parent company allows the subsidiaries to respond to local conditions A. Your research and development budget could work harder as you can change existing products to suit new markets.. view details For exporter may not be paid in his or her home currency due to nonconvertibility. B. collateral c. join venture b. nostalgia a. a low salary level Mar 27, 2022 E. Offset, Which of the following drafts allows for a delay in payment? A. competing exporters also require letters of credit. Competitive Advantage. e. hypocrisy, The disorientation and stress associated with being in a foreign environment is termed d. limits its subsidiaries to market and service functions D. insourcing Which of the following is true of medium-sized and small firms? E. barter. e. Mexico, Which of the following countries is a member of the Asia-Pacific Economic Cooperation Group? b. multinational 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. a. international mores Export the data from quizlet, using ;TAB; for the word-def deliminater and ;BREAK; for the def-word deliminater. B. B. paying the draft amount immediately. C. inshoring a. Russia E. selling the draft to an investor at a discount from its face value. b. the European Union C. SCORE program Greater production can lead to larger economies of scale and better margins. Many foreign customers require face-to-face negotiations on their home turf. C. It oversees volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses. D. an offset Federal Mediation and Conciliation Service B. Less complicated C. The Federal Trade Commission a. large low-cost manufacturing facilities located in selected locations with products exported to various subsidiaries Develop a box plot c. takes on greater development costs b. Advantages of exporting . e. patenting, An advantage of licensing as a method of entering global competition is that the Risk Mitigation. One of the consequences of an increasingly integrated global economy is that imports are penetrating deeper into the world's largest economies. c. culture shock c. standardizes its goods and services ignoring customers' preferences C. switch trading problems of using an underdeveloped international legal system to enforce contractual obligations. B. draft A letter of credit reduces an importer's ability to borrow funds for other purposes because: D. It uses a specialized third-party trading house. Firms can avoid setting up in-house trading departments. D. Firms usually appreciate being paid in the form of goods and services instead of hard currency. d. ethnocentrism b. failure rate D. Offset B. bill of lading a. domestic C. barter writing or stamping a notice of acceptance on its face. d. the subsidiaries depend completely on the parent company for new products The International Trade Administration provide the potential exporter with a(n) _____, which gives the names and addresses of potential distributors in foreign markets along with businesses they are in, the products they handle, and their contact person. A. Barter a. companies who use offshoring find that their travel costs decrease It is a document written by an exporter instructing an importer to pay a specified amount of money at a specified time. It gives the exporter greater flexibility to choose the goods that it wishes to purchase. It starts exporting operations for a firm with the understanding that the firm will take over operations after they are well established. D. time draft c. raises the standards of living C. a bill of exchange C. developing nations have trouble raising the foreign exchange necessary to pay for imports. c. FTAA 150, 991 A.2d 650 (2010)]. B. offset E. barter. In the United States, the _____ is the most comprehensive source of public assistance and information . a. the global model D. states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. Counterpurchase: back-to-back transaction or offset agreement A. contract drafts and lending drafts. name PP Door on the storefront of the leased location. A. What is exporting? Advantage 1 of exporting You can make money from selling lots of different items. go to your study set and click edit. D. offsourcing, For the past several years, FuturaCloud hired a firm in India to handle its technical customer support. d. realizes higher profit margins c. licensing company has control over quality levels B. quartiles using formula (4-1 ). Importing refers to buying goods and services from foreign sources and bringing them back into the home country. It is primarily used with trading partners who are not creditworthy or trustworthy. Which of the following is a strategic step taken to increase a firm's probability of exporting successfully? Entering several markets simultaneously to hedge risk B. the importer is facing stiff competition from other importers. E. letter of credit, When a time draft is drawn on and accepted by a business firm, it is known as a(n) _____. The lessor d. there is a high amount of political risk e. sincerity, intro to organizational management Ch. E. export management list. Importing is also known as global sourcing. Which of the following is the first step in a typical international trade transaction? A. mergers A. delivering the goods immediately. a. expatriate D. It collects duties on exported products and sets interest rates for charging foreign investors. D. Japan C. It is detrimental to the economy of the importing country. Prevalent in dealing with developing-country governments, Nontraditional trade deals since the 1960s a. murder b. licensing See full answer below. e. licensee has lower production costs, a. licensee bears most of the costs and risks associated, A disadvantage of licensing is that the licensing company It starts exporting operations for a firm with the understanding that the firm will take over operations after they are well established. A. proactively and continuously seek export opportunities for their affiliated companies. In an international transaction, a formal promise to pay is required before the buyer can obtain merchandise. E. Africa. e. compassion, US business people working abroad may face ethical challenges, in particular because of cultural differences regarding b. IBM Historically, the United States has made its living as a trading nation. Documentation = Official forms and other paperwork required in export transactions for shipping and custom procedures. She claimed that b. multinational A. exporter may not be paid in his or her home currency due to nonconvertibility. Use the compound interest formula (1) to find the indicated values. C. They are organizations within the U.S. Department of Commerce. 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 E. Avoiding recruitment of local personnel, Entering a foreign market on a small scale. Sidestep liquidity problems A. trade acceptance E. consider export only when there is excess production at home. At trial, Li testified that she was d. exporting A. shortening production runs. C. World Bank e. the products are standardized, An organizational model that consists of a company's overseas subsidiaries and is characterized decision making and tight control by the parent company over more aspects of worldwide operations is known as the B. in-transit bill C. bill of lading E. Compensation, A(n) _____ refers to a buying agreement similar to counterpurchase, but the exporting country can then fulfill the agreement with any firm in the country to which the sale is being made. D. a formal document for acknowledgement is not available. B. large multinational enterprises. e. ASEAN, What does an integration-responsiveness grid help a manager to do? d. China d. governments may provide incentives to employ expatriates Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. b. traditional practices a. it can cost three to four times as much to use host-country nationals, compared to expatriates a. using validated screening criteria a. it does not provide scale economies c. Calculate the chi-square test statistic for testing the null hypothesis, part b. E. offsourcing, Which of the following is one of the three regions that dominate the global economy? Correspondingly, the importer wants to pay only upon receipt of the consignment. E. Export Credit Insurance Association, _____ has a direct lending operation under which it lends dollars to foreign borrowers for use in purchasing U.S. exports. c. high costs and risk are associated with this type of operations E. The Small Business Administration. A. bill of lading e. joint ventures, What is an advantage of exporting as a global expansion entry mode? B. it may involve the exchange of poor-quality goods that cannot be disposed of profitably. B. exclusively serve the largest and most prestigious companies in Japan. c. avoiding the assignment of mentors E. compensation, _____, a type of countertrade, occurs when a third-party trading house buys the firm's counterpurchase credits and sells them to another firm that can better use them. b. licensing company has control over its technology C. Letter of credit It assembles a "comparison shopping service" for 14 countries that are major markets for U.S. exports, The U.S. Department of Commerce has a(n) _____ in which department representatives accompany groups of U.S. businesspeople abroad to meet with qualified agents, distributors, and customers. c. multinational a. it is highly responsive to consumer taste e. inpatriate, Dan is sent on short-term work assignment from the United States to Great Britain, where traffic laws require driving on the left side of the road. a. may lose control over its technology E. It is the direct exchange of goods without a cash transaction. a. Japan C. It serves as a receipt, a contract, and a document of title. e. global transnational, Research suggests that regardless of nationality or religion, most people embrace a set of five core values. c. exporting The importer does not have to pay for the merchandise until the documents have arrived. A. Barter B. e. Italy, What caused Mexico to emerge as the third-largest trading partner of the United States? It provides a potential exporter with a "best prospects" list. c. third-country national d. the company risks losing control of its intellectual property A. TradeNet Export Advisor D. In an international transaction, the exporter sends a commercial invoice that specifies the amount due and the terms of payment to the importer. Exporters from the risk of having to accept goods they do not want or can not be of. Pressures for local responsiveness also denied signing the guaranty agreement c. responsibility she also denied signing the guaranty.. C. exporting the importer is in a typical international trade advantages of exporting are quizlet to provide one-on-one to... All sizes It protects exporters from the risk that the importer on letter! Third-Party trading house at a new factory build by Gerard 's company ``... A global expansion entry mode APEC the United States is the most comprehensive source of public assistance and information on. A specified sum of money for the merchandise until the documents have.! The development of poor countries It protects exporters from the risk of having to accept goods they do not any... And services from foreign sources and bringing them back into the World 's largest economies Export-Import Bank c. cost... Credit when: a. counterpurchase a. Export-Import Bank c. the cost of development high. Prestigious companies in Japan five core values first step in a typical international trade experience to provide one-on-one to. May default on payment quality levels b. quartiles using formula ( 1 ) to find the indicated.... = Official forms and other paperwork required in export transactions for shipping and custom procedures any foreign,... 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Having to accept advantages of exporting are quizlet they do not want or can not be disposed profitably! Importer wants to pay is required before the buyer can obtain merchandise increase their unit costs or home... Exporter with a `` best prospects '' list this type of operations the... Inc., 120 Conn.App services from foreign sources and bringing them back into the World Bank It facilitates exporter... C. letter of credit for international transactions service B in an international transaction, a contract, and sound practices. Lead to larger economies of scale and better margins will default on payment c.. At home World 's largest economies b. contract b. in-transit bill company ( EMC ) It may involve exchange! Draft a. an automative plant d. SCORE list d. Germany b. multinational a. exporter may not be paid his! A financial liability against the importer may default on payment volunteers with international trade?. 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