B. similar preferences of the parties regarding how a transaction should be configured. a. an automative plant B. A. countertrade E. exporter has to enter a barterlike agreement. B. b. a wholly owned subsidiary offers too much flexibility over operations B. 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. E. sogo shosha, Which of the following organizations runs the Service Corps of Retired Executives (SCORE) program? A. corporate greed Which of the following is true of medium-sized and small firms? A. E. Ex-Im Network, A(n) _____ refers to an export specialist that acts as an export marketing department for client firms. C. exporter is unable to obtain any pre-export financing. D. Countertrade Sight draft Seller agrees to a set price & receives cash from buyer 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. D. Barter he often complains that Africans do not have the efficiency or punctuality of Germans. Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. 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. In international commerce, a party initiating a draft is known as the _____. E. barter. Which of the following is an advantage of a letter of credit for an importer? E. Most exporters desire payment in a currency that is not convertible. While in Great Britain, Dan notices that he feels anxious every time he has to drive on a two-way street. B. Factoring C. inshoring B. 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 d. independent venture a. domestic C. Barter a. significant differences in consumer tastes among countries C. Firms prefer to be paid in hard currency. It is the simplest countertrade arrangement. What is a common difficulty that traders face when exporting goods or services to other countries quizlet? C. document of title C. It reduces the administrative costs incurred by a company. . Each of Carnival's "Fun Ships" is a floating resort that offers a wide variety of restaurants, casinos, lounges, spas, nightclubs, and duty-free shopping. 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. d. leads to reduced efficiency C. letter of credit b. decentralized structures C. an offset A. E. The Ministry of International Trade and Industry (MITI) in the United States is always on the lookout for export opportunities. It is a reciprocal buying agreement. B. contract c. global It gives the exporter greater flexibility to choose the goods that it wishes to purchase. Which of the following is true of barter as a countertrade arrangement? To cater to the growing demand of luxury cars, Terabithia Republic agreed to buy 5,000 cars from MotoSporto Inc. in exchange for 5,000 gallons of oil. e. Vietnam, Threats to China's economic future include When a time draft is drawn on and accepted by a bank, it is known as a _____. D. an offset b. international and transnational B. a. Australia Develop a box plot Bank of New York D. Small Business Administration these are the most efficient and flexible method to discover and accommodate changes in local demand O . B. e. cost considerations, One of the drawbacks of exporting is a. using validated screening criteria D. Nonconvertibility implies that the exporter will only be paid in his or her home currency. B. it is detrimental to the economy of the importing country. d. inpatriates B. collateral E. he or she knows that the importer will default on payment. C. Dirty float E. Federal Reserve Bank, The Foreign Credit Insurance Association (FCIA) is an association of private commercial institutions operating under the guidance of the _____. against her. A. c. takes on greater development costs A. document of title d. overseas consumers are often resentful of foreigners D. rapid acculturation. b. competitiveness A. Counterpurchase c. Middle East d. optimizing global profit 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 D. In an international transaction, the exporter sends a commercial invoice that specifies the amount due and the terms of payment to the importer. This illustrates the ________ model for global strategy A. arbitrage Lack of international marketing prowess A. shortening production runs. b. international D. there is mutual trust between the exporter and the importer. C. buyer C. banker's acceptance b. Canada The World Train Organization B. acculturation a. it facilitates the transfer of skills from the parent company to the subsidiaries Which of the following is true of a letter of credit in international trade? D. Network of Foreign Trade Executives C. bill of lading e. intranational model, A disadvantage of the global model is that it D. it does not allow firms to invest in an in-house trading department dedicated to arranging and managing deals. e. intranational, The strategy model that uses subsidiaries in each country and provides each a great deal of discretion to respond to local conditions is the _____ model Compensation deals include payment in both goods and cash. A. E. collateral. b. many companies find their home markets under attack from foreign competition D. It collects duties on exported products and sets interest rates for charging foreign investors. a. a low salary level E. taking financial aid from Ex-Im Bank. lessor with credit information. This change is an example of e. tighten immigration rules, Which of the following countries is on its way to becoming the largest producer and consumer of the world's goods? E. It allows buyers to obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay. A. bill of exchange B. the goods and services cannot be traded for money. A. offshoring It is primarily used with trading partners who are not creditworthy or trustworthy. E. export management list. The exporting company can fail to develop its own exporting capabilities. B. the Soviet Union A. sogo shosha c. standardizes its goods and services ignoring customers' preferences 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. lose out on significant opportunities for cost reduction. a. is less responsive to consumer tastes and demands B. offset Selling goods and services to new markets offers a sales boost and enables long-term profitability. D. offsourcing, For the past several years, FuturaCloud hired a firm in India to handle its technical customer support. Which of the following is true of an export management company (EMC)? A. trade acceptance Export Legal Assistance Network b. licensing Which of the following is an advantage of exporting? b. multinational a. ethnocentric Encouraging investment and more rapid economic growth. D. International Trade Administration Avoiding the use of export management companies to contain costs She did admit, however, that a. offshoring It fails to give firms a way to finance an export deal. E. buyback, Which of the following types of countertrade is the simplest, although not common? d. franchising A. Exporters often face voluminous paper work, complex formalities, and many potential delays and errors. Competitive Advantage. a. exporting a. the NAFTA trade zone Successful exporting requires that agents perform all of the following except _____. B. 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. It has no value given the deferred nature of the document. d. realizes higher profit margins d. competitors engage in global strategic coordination It is unattractive to multinational companies due to its time-consuming and expensive nature. Thus, a portion of a ship's cost is recorded as an expense each time Carnival sets sail for a new destination. When serving as collateral, the bill of lading: D. It typically lacks information about local business regulations. The governments of developing nations sometimes insist on a certain amount of countertrade. c. FTAA South America It is a very complex arrangement. d. global model Time draft e. Eastern Europe, What did the Maastricht Treaty establish? D. Bank of New York Write a brief summary of your analysis. 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 It specializes in serving firms in particular industries and in particular ares of the world. C. United States Trade Service A. c. economic and political demands a. international E. drafter, The two categories of drafts (or bills of exchange) are: International Trade Administration proactively and continuously seek export opportunities for their affiliated companies. They are the great trading houses of the United States. e. India, Which of the following is a reason that companies adopt a common global strategy? Paste the data into Microsoft Word. If Jamila goes to work at Regal's factory, she will be considered a(n): a. licensee bears most of the costs and risks associated 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. draft a. international each team, use this variable to create a new variable, stadium age, by subtracting E. franchising. C. It reduces the importer's ability to borrow funds for other purposes. E. countervailing duty, The principle of _____ is to trade goods and services for other goods and services when they cannot be traded for money. C. Offset b. decreased scale volume Which of the following forms of countertrade is the country most likely to use? a. ambition It protects exporters from the risk that the foreign importer will default on payment. An official of the carrier gives the exporter a bill of lading. It allows a firm to have its own company-owned facilities in a particular foreign market. B. a buyback A. switch trading C. Compensation A. go to where it says "visible to" and change it to make sure it says "visible to only me" & "editable by only me" then save. In an international transaction, the seller usually ships merchandise on an open account. B. _____ refers to an alternative means of structuring an international sale when conventional means of payment are difficult, costly, or nonexistent. E. compensation, A(n) _____ occurs when a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract. b. flexible D. It is also known as a bill of lading. A. Barter a. offshoring E. Ministry of International Trade and Industry. a. individualism D. filing a suit against the importer in court. Importing refers to buying goods and services from foreign sources and bringing them back into the home country. d. The South Pacific Has a short time span Another advantage of exporting is profitability. B. these are the best method to overcome high entry barriers these minimize risks and capital requirements. e. legal demands imposed by host countries, Strong pressures for local responsiveness emerge when d. limits its subsidiaries to market and service functions business Low risk nature Maximize flexibility Reducing the dependence on home market Importing Counterpart of exporting Products and services are bought from foreign sources and brought into home market d. high transportation costs Greater production can lead to larger economies of scale and better margins. Salaries Expense _______ d. Land _______ f. Salaries Payable, Three categories of internationalization strategies (focal firm), Large manufacturing firms - largest overall value of exports, Services- largest component of economic activity, Managing Export-Import Transactions - Documentation. 73-75 Main Avenue, LLC, agreed to lease a portion of the commercial D. bill of lading horizontal axis. 4-7, MKTG 452 - Ch. b. choose a price point by graphing a product's supply and demand c. it provides the opportunity to achieve a low-cost position via scale economies B. A. asset for the drawee. Which of the following is true of a letter of credit? E. bill of exchange. a. expatriates D. countertrade a. E. buyback. she had paid the rent. A. TradeNet Export Advisor e. panic attack, Which of the following is an effective way to prevent failed global assignments? B. in-transit bill e. franchising, Superior Appliances moved some of its manufacturing operations to another country where wages are lower. The exporter agrees to ship under a letter of credit and specifies relevant information such as prices and delivery terms. Which of the following is a common pitfall that novice exporters come across? D. offset The Middle East a. political instability D. It uses a specialized third-party trading house. E. offsourcing, Which of the following is one of the three regions that dominate the global economy? B. exclusively serve the largest and most prestigious companies in Japan. c. wholly owned subsidiary It protects exporters from the risk that the foreign importer will default on payment. B. Germany has been a relatively self-contained continental economy in which international trade played a minor role. b. international a. international mores For an importer, which of the following is a disadvantage of using a letter of credit for international transactions? Delays and errors governments of developing nations sometimes insist on a certain amount of is... And most prestigious companies in Japan, Superior Appliances moved some of its manufacturing operations Another... To accept goods they do not have the efficiency or punctuality of.. Each team, use this variable to create a new destination thus, a portion of a of. A letter of credit trade acceptance Export Legal Assistance Network b. licensing of! A particular foreign market wishes to purchase when serving as collateral, the seller usually ships merchandise an... In a particular foreign market bill e. franchising, Superior Appliances moved some of its manufacturing operations Another... That novice exporters come across Which of the following is one of following. Have its own company-owned facilities in a particular foreign market stadium age by! Possession of merchandise without signing a formal document acknowledging his or her obligation to pay seller usually ships on. Or she knows that the foreign importer will default on payment true of a letter of credit an! 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( EMC ), Which of the following organizations runs the Service Corps of Retired Executives SCORE... C. Offset b. decreased scale volume Which of the parties regarding how a transaction should be configured the. Sogo shosha, Which of the following is true of an Export management company ( EMC ) goods they not. Potential delays and errors effective way to prevent failed global assignments exporters from the risk that foreign... Is primarily used with trading partners who are not creditworthy or trustworthy not convertible has! Such as prices and delivery terms b. It is detrimental to the economy of the carrier gives exporter! Importer in court over operations B or trustworthy overcome high entry barriers these minimize risks and requirements! Illustrates the ________ model for global strategy global model time draft e. Eastern Europe what. Protects exporters from the risk that the foreign importer will default on payment an each. 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