Operating in a Global context. Quiz

What does globalization involve?

• Restricting local trade

• Expanded trade across international borders

• Reducing product quality

• Limiting market access

Why do businesses seek to operate globally?

• To avoid competition

• To downsize operations

• To expand reach and tap into new opportunities

• To reduce productivity

What is one benefit of understanding cultural nuances in global business?

• Reducing profits

• Enhancing competitiveness

• Increasing confusion

• Limiting communication

What strategy allows businesses to tailor to local markets?

• Downsizing

• Global expansion

• Outsourcing

• Product standardization

What does market seeking involve?

• Ignoring customer needs

• Accessing new customers and consumer bases

• Reducing global trade

• Limiting competition

What resources might be accessed through global expansion?

• Foreign holidays

• Raw materials and labor

• Social media followers

• Movie rights

What is one method of entering global markets?

• Franchising

• Exporting

• Downsizing

• Restructuring

Which of the following is a global market entry method besides exporting?

• Licensing

• Tax evasion

• Devaluation

• Restriction

Why is licensing used in international expansion?

• To avoid taxes

• To access new customers and boost competitiveness

• To reduce employee workload

• To eliminate regulations

What has enabled global communication and commerce?

• Industrial Revolution

• Digital Revolution

• Political alliances

• Agricultural practices