International Business Quiz

Why is studying international business crucial in today's world?

• To focus solely on domestic business

• To navigate diverse markets and regulations

• To understand local market trends

• To avoid international competition

What is the basic definition of international business?

• Business that only exports goods

• Business that focuses on local markets

• Business conducted within a single country

• Business that operates across international borders

Which company is known for its global supply chain and retail presence?

• Google

• Amazon

• Microsoft

• Apple

How does Tesla benefit from international operations?

• By focusing on fossil fuels

• By avoiding government incentives

• By establishing gigafactories in key locations

• By limiting production to the US

What strategy does Coca-Cola use to succeed internationally?

• Focusing only on carbonated drinks

• Ignoring local tastes

• Standardizing all products globally

• Implementing a meticulous localization strategy

Why is globalization important for businesses?

• To tap into new markets and reduce dependence on a single market

• To remain confined to their home turf

• To focus solely on local customers

• To avoid international competition

How does cultural awareness benefit international business?

• By building successful relationships with diverse clients and partners

• By standardizing business practices globally

• By ignoring cultural differences

• By focusing only on domestic markets

What is a key component of the International Business course?

• Studying only local economic systems

• Understanding why, where, and how firms should go global

• Focusing only on domestic business strategies

• Avoiding international markets

Which topic is covered under 'why' firms need to go global?

• Local supply chain management

• Domestic business ethics

• Globalization and international business theories

• Local market trends

What does the 'how' section of the International Business course include?

• Local trade policies

• Local supply chain management

• Global trade policies and international business strategies

• Domestic market entry strategies