BUSI 303 Exam 2

BUSI 303 Exam 2 Liberty University

Set 1

  1. An operational bottleneck refers to the fact that the capacity flow of a multistep production process is limited to the total output of the slowest
  2. The convergence of international and domestic pricing also indicates the era of the global
  3. Continuity is an important aspect of the KANBAN cluster, which holds the distance between the supplier and the manufacturing hub as a key focus in the acquisition of raw
  4. The progressive stages of economic integration in order of intensity are: Preferential Trade Areas, Custom Unions, Free Trade Areas, Common Markets, and
  5. Firms with reactive motivation will most likely enter the international market because they want to take the initiative, while proactive firms expand internationally by necessity to remain
  6. A license is an agreement that allows one party to use an industrial property right in exchange for payment to the other The party giving the license is the licensee, while the party that gets to use the right is the licensor.
  7. In process planning, make or buy decisions can be taken
  8. Export intermediaries provide expertise to inexperienced exporters as they enter overseas markets.
  9. Only governments can issue
  10. I have read all of the course requirements, and fully know that if I do not understand something about this course I should seek clarification from my
  11. Technological turbulence and market dynamism are the two dimensions of environmental turbulence.
  12. Improving customer satisfaction is the main focus of continuous improvement .
  13. The SBA will provide prospective businessmen with “face to face” services at one of their approximately 73 regional offices located within the United States.
  14. In the S., the President sets exchange rate policies.
  15. Italy, Japan, and Turkey are all members of the
  16. An Economic Union consists of several nations, each maintaining their own
  17. An ISO is, in actuality, a codification or assurance of quality and ISO is an internationally recognized certification system or process.
  18. The World Bank was established to help finance economic development in poor, underdeveloped countries.
  19. Also known as the Toyota Production System, JIT was initially developed after WWII when the Japanese car industry was lagging far behind its S. competitors.
  20. One of the advantages of management contracts is that the management contractor does utilizes many of its assets to meet the contract demands.
  21. The United States has the greatest number of franchisors, followed by Africa and
  22. The main difference between low intensity and high intensity entry modes depends on how much risk and/or control an entering business is willing to accept or .
  23. The necessary developments for expansion into global markets include expanding markets, gaining access to resources, increasing costs, and capitalizing on a special feature of location.
  24. The major disadvantages to the new form of centralization are that it does not allow for innovative thinking, nor does it engender employee initiative for problem solving.
  25. Tax on imports is one example of a tariff
  26. The adoption of the floating exchange rate system resulted from the conclusion of the Bretton Woods
  27. Firms are better off selecting non-equity, low-investment entry modes in countries that have high environmental
  28. The intended outcome of regional economic integration is to promote economic prosperity and stability among signatory
  29. Firms must take into account the needs of the foreign market, the current economic trends, the political environment, and other important facts when timing their global expansion strategy.
  30. Economies of scale in the production process may make relocation unworthy of the investment, despite lower labor
  31. The reasoning behind the layout design of a facility is to maximize the work environment for customers, employees, and the overall building.
  32. Competitive pressure, excess capacity, underproduction, and a saturated or declining home market are reactive motivational factors that propel firms to expand into the global economy
  33. Firms are not at risk if they decide not to carefully examine, assess and evaluate a country’s organizational, social, cultural, political, judicial, market, economic, technological and industry trends prior to determining whether the entry into an international market is financially .
  34. An achievement of the Smoot-Hawley Tariff Act was the Economic and Monetary Union (EMU).
  35. The bureaucratic hierarchy is the most common centralized organizational
  36. Total Quality Management (TQM) stresses the importance of
  37. Total Quality Management (TQM) should be based, trust in order to establish a solid
  38. The initial goal of NAFTA was to increase investment and decrease tariffs between Mexico and the S.
  39. Some firms would rather remain domestic, but the nature of the market forces them to globalize operations to remain
  40. Capacity planning is used in operations management and is suggested, but not a necessity, to help companies facilitate successful

Set 2

  1. The New York Stock Exchange itself does no business and keeps no record of transactions.
  2. Total Quality Management (TQM) stresses the importance of teamwork.
  3. Technological turbulence and market dynamism are the two dimensions of environmental turbulence.
  4. One of the advantages of management contracts is that the management contractor does utilizes many of its assets to meet the contract demands.
  5. The bureaucratic hierarchy is the most common centralized organizational structure.
  6. Transferring current managers to run new foreign operations might not be the best strategy to pursue when expanding operations into global markets.
  7. Economies of scale in the production process may make relocation unworthy of the investment, despite lower labor costs.
  8. A key determinant in the facility location decision is the proximity the site has to the organization’s largest customer base and suppliers.
  9. MERCOSUR was initiated to expand the markets of Argentina, Brazil, Iran, and India.
  10. The Euro is the world’s leading currency.
  11. Continuity is an important aspect of the KANBAN cluster, which holds the distance between the supplier and the manufacturing hub as a key focus in the acquisition of raw materials.
  12. The convergence of international and domestic pricing also indicates the era of the global producer.
  13. A facilitator is an individual whose job it is to help manage an information exchange process.
  14. The intended outcome of regional economic integration is to promote economic prosperity and stability among signatory nations.
  15. In process planning, make or buy decisions can be taken lightly.
  16. Only governments can issue bonds.
  17. Firms must take into account the needs of the foreign market, the current economic trends, the political environment, and other important facts when timing their global expansion strategy.
  18. The Theory of Constraints (TOC) suggests that the greater gain will come from increasing total output from an entire process.
  19. Trading blocs are the core elements of regional economic integration. .
  20. The SBA will provide prospective businessmen with “face to face” services at one of their approximately 73 regional offices located within the United States.
  21. The intent of forming a trading bloc can range from the potential of trade creation to the desire for economic protectionism.
  22. I have read all of the course requirements, and fully know that if I do not understand something about this course I should seek clarification from my professor.
  23. Greenfield investments require only process adaptation, not product adaptation. .
  24. Acquisitions and mergers are market strategies used is when a corporate entity needs complete control over every detail of the structure within the host country.
  25. Customer knowledge competence is characterized as the knack to acquire, interpret, and integrate information regarding the global competitive environment.
  26. Some firms would rather remain domestic, but the nature of the market forces them to globalize operations to remain profitable.
  27. Competitive pressure, excess capacity, underproduction, and a saturated or declining home market are reactive motivational factors that propel firms to expand into the global economy
  28. Low intensity and high intensity are the two types of entry modes used to access markets
  29. Centralization allows decision making authority to occur where the decisions are to be made.
  30. Total Quality Management (TQM) should be based, trust in order to establish a solid foundation.
  31. Potential tax savings and managerial focus being drawn away from productivity to merger management are two advantages of mergers and acquisitions.
  32. Decisions to move domestic operations and products into the global marketplace include the desire to increase sales and profitability and cost reductions from full or partial operational relocation to a foreign nation.
  33. The four categories of motivational reasons why companies expand globally are: primary, alternate, proactive and reactive.
  34. Firms are better off selecting non‐equity, low‐investment entry modes in countries that have high environmental uncertainty.
  35. When formulating a strategic global market entry plan, business managers should focus on: identifying the most attractive foreign markets to the firm; determining the best time to enter the global market; and whether to enter a potential market utilizing a large or small scale strategy.
  36. In the U.S., the Federal Reserve Bank is responsible for regulating the growth of the economy.
  37. The necessary developments for expansion into global markets include expanding markets, gaining access to resources, increasing costs, and capitalizing on a special feature of location.
  38. Many industrial firms choose to export for their first international entry mode.
  39. The United States has the greatest number of franchisors, followed by Africa and Asia.
  40. A large portion of all FX market transactions are spot transactions.
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