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BUSI 303 Exam 2 complete solutions 2019 More than 4 versions (All Answers Correct & Verified)

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Liberty University BUSI 303 exam 2 complete solutions correct answers More than 4 versions Press Ctrl F and type your questions (just a few words). And then press Enter to find questions and answer... s easy. 1. Companies often find motivational reasons to expand globally. These motivations can be categorized into 4 groups: primary, alternate, proactive and reactive 2. The progressive stages of economic integration, in order of intensity are: Preferential Trade Area, Custom Union, Free Trade Area, Common Market, and EU 3. A large portion of all FX market transactions are spot transactions 4. The Euro is the world’s leading currency 5. Every country may not necessarily have its own security exchange 6. The intended outcome of regional economic integration is to promote economic prosperity and stability among signatory nations 7. The initial goal of NAFTA was to increase investment and decrease tariffs between Mexico and the U.S. 8. Decisions to move domestic operations and products into the global marketplace include the desire to increase sales and profitability and to realize cost savings and profitability as a result of a partial or whole relocation in a foreign nation 9. Two types of entry modes are available into a market: low intensity and high intensity. The main difference between the two depends on how much risk and/or control an entering business is willing to take 10. Capacity planning is suggested, but not necessary, within operations management to allow companies to succeed 11. In the U.S., the Federal Reserve Bank is responsible to regulate the growth of the economy 12. The intent of forming a trading bloc may range from the potential of trade creation to the desire for economic protectionism 13. Firms with reactive motivation will most likely enter the international market because they want to take the initiative to be aggressive while proactive firms go international because they must in order to compete 14. One of the benefits of trading blocs is greater division of labor 15. Two major contributing circumstances of the demise of the gold standard were the Great Depression and the Vietnam War 16. European Community established its Exchange Rate Mechanism (ERM) in 1979 and formed the initial steps for the creation of a single European currency 17. Operational bottleneck refers to the fact that capacity of a multistep production process is limited to the total output of the slowest process 18. Production related reasons seem to be a small motivation why some domestic firms expand globally 19. Export intermediaries are utilized to provide expertise to inexperienced exporters as they enter overseas markets 20. Total quality management stresses the importance of teamwork 21. Make or buy decisions can be taken lightly 22. The reasoning behind layout of a facility is to maximize the work environment for customers, employee and the building itself 23. Mercosur was initiated to expand the markets of Argentina, Brazil, Iran, and India 24. A license is an agreement that allows one party to use an industrial property right in exchange for payment to the other party. The party giving the license is the licensee, while the party that gets to use the right is the licensor 25. Total quality management must be based on ethics, integrity and trust in order to have a solid foundation 26. Tax on imports is one example of a tariff barrier 27. A facilitator is an individual whose job is to help to manage a process of information exchange 28. The following factors are reactive motivations for firms to expand into the global economy: Competitive pressure, Excess capacity, Underproduction, Saturated or declining home market 29. The futures market allows smaller traders to participate in a trade 30. In a Free Trade area, member nations are allowed to determine their own trade policies with non-members 31. Subsidies are special privileges that governments provide to the businesses in order to attract them to a region or simply to have funds required to operate successfully 32. Some firms would rather remain domestic, but the market forces them global in order to remain profitable 33. The adoption of the floating exchange rate resulted from the conclusion of the Bretton Woods Agreement 34. Centralization allows decisions making authority to occur where the decisions are to be made 35. The necessary conditions for expansion into global market, which drive global expansion, include expanding markets, gaining access to resources, increasing costs, and capitalizing on special feature of location 36. In 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 37. The core element of regional economic integration is the trading bloc 38. 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 determine whether entry into an international market is financially feasible, unfavorable, or risky. 39. The major disadvantage to the new form of centralization is that it does not allow for innovative thinking, nor does it engender employee initiative for problem solving 40. The World Bank was established to help finance economic development in poor, under developed countries 41. Centralization allows decision making authority to occur where the decisions are to be made 42. The intent of forming a trading bloc can range from the potential of trade creation to the desire for economic protectionism 43. The four categories of motivational reasons why companies expand globally are: primary, alternate, proactive and reactive 44. Two major contributing circumstances to the demise of the gold standard were the Great Depression and the Vietnam War 45. OPEC was founded in 1960 in Baghdad 46. Export intermediaries provide expertise to inexperienced exporters as they enter overseas markets 47. The greater division of labor is a benefit of trading blocs 48. In the U.S., the President sets exchange rate policies 49. 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 50. The initial goal of NAFTA was to increase investment and decrease tariffs between Mexico and the U.S. 51. An ISO is, in actuality, a codification or assurance of quality and ISO is an internationally recognized certification system or process 52. Trading blocs are the core elements of regional economic integration 53. Total Quality Management (TQM) should be based, trust in order to establish a solid foundation 54. Low intensity and high intensity are the two types of entry modes used to access markets 55. A large portion of all FX market transactions are spot transactions 56. The convergence of international and domestic pricing also indicates the era of the global producer 57. National customer preferences is a market expansion risk variable that occurs when the firm may not understand foreign customer preferences and fail to offer “localized” products and services. 58. Firms are better off selecting non-equity, low-investment entry modes in countries that have high environmental uncertainty 59. The adoption of the floating exchange rate system resulted from the conclusion of the Bretton Woods Agreement 60. Production related reasons seem to be relatively small motivational factors for domestic firms expand globally 61. 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 competitive 62. 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 63. A license is an agreement that allows one party to use an industrial property right in exchange for payment to the other party. The party giving the license is the licensee, while the party that gets to use the right is the licensor 64. The SBA will provide prospective businessmen with “face to face” services at one of their approximately 73 regional offices located within the United States 65. 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 viable 66. 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 67. 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 68. In a Free Trade Area, member nations are allowed to determine their own trade policies with non-members 69. In process planning, make or buy decisions can be taken lightly 70. 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 forgo 71. Italy, Japan, and Turkey are all members of the OEDC 72. 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 73. The reasoning behind the layout design of a facility is to maximize the work environment for customers, employees, and the overall building 74. Technological turbulence and market dynamism are the two dimensions of environmental turbulence 75. Two major contributing circumstances to the demise of the gold standard were the Great Depression and the Vietnam War 76. The Euro is the world’s leading currency 77. 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 viable. 78. Export intermediaries provide expertise to inexperienced exporters as they enter overseas markets 79. MERCOSUR was initiated to expand the markets of Argentina, Brazil, Iran, and India 80. When pursuing a mass customization strategy, demand for different features or options may be based on climate, culture, location, or personal preference 81. Centralization allows decision making authority to occur where the decisions are to be made 82. An Economic Union consists of several nations, each maintaining their own currency 83. A large portion of all FX market transactions are spot transactions 84. In the U.S., the Federal Reserve Bank is responsible for regulating the growth of the economy 85. 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 86. Trading blocs are the core elements of regional economic integration 87. The progressive stages of economic integration in order of intensity are: Preferential Trade Areas, Custom Unions, Free Trade Areas, Common Markets, and EUs 88. The New York Stock Exchange itself does no business and keeps no record of transactions 89. Only governments can issue bonds 90. Every country may not necessarily have its own security exchange 91. Greenfield investments require only process adaptation, not product adaptation 92. The adoption of the floating exchange rate system resulted from the conclusion of the Bretton Woods Agreement 93. Capacity planning is used in operations management and is suggested, but not a necessity, to help companies facilitate successful operations 94. The intended outcome of regional economic integration is to promote economic prosperity and stability among signatory nations 95. Many industrial firms choose to export for their first international entry mode 96. National customer preferences is a market expansion risk variable that occurs when the firm may not understand foreign customer preferences and fail to offer “localized” products and services 97. A license is an agreement that allows one party to use an industrial property right in exchange for payment to the other party. The party giving the license is the licensee, while the party that gets to use the right is the licensor 98. Tax on imports is one example of a tariff barrier 99. The initial goal of NAFTA was to increase investment and decrease tariffs between Mexico and the U.S 100. Some firms would rather remain domestic, but the nature of the market forces them to globalize operations to remain profitable 101. A facilitator is an individual whose job it is to help manage an information exchange process 102. 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 103. In process planning, make or buy decisions can be taken lightly 104. Low intensity and high intensity are the two types of entry modes used to access markets 105. The Theory of Constraints (TOC) suggests that the greater gain will come from increasing total output from an entire process 106. Total Quality Management (TQM) stresses the importance of teamwork 107. 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 forgo 108. Firms are better off selecting non¬equity, low¬investment entry modes in countries that have high environmental uncertainty 109. 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. 110. Also known as the Toyota Production System, JIT was initially developed after WWII when the Japanese car industry was lagging far behind its U.S. competitors 111. In the U.S., the President sets exchange rate policies 112. The European Community established its Exchange Rate Mechanism (ERM) in1979 and formed the initial steps for the creation of a single European currency 113. 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 114. enter the global market; and whether to enter a potential market utilizing a large or small scale strategy 115. In a Free Trade Area, member nations are allowed to determine their own trade policies with non-members 116. 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 117. One of the advantages of management contracts is that the management contractor does utilizes many of its assets to meet the contract demands 118. An achievement of the Smoot¬Hawley Tariff Act was the Economic and Monetary Union (EMU) 119. Operations managers are concerned with every aspect of the production process, including key areas such as research and development, acquisition and distribution, inventory management, technology, transportation, manufacturing, and customer service 120. Transferring current managers to run new foreign operations might not be the best strategy to pursue when expanding operations into global markets 121. 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 122. Customer knowledge competence is characterized as the knack to acquire, interpret, and integrate information regarding the global competitive environment 123. The greater division of labor is a benefit of trading blocs 124. The futures market allows smaller traders to participate in a trade 125. Potential tax savings and managerial focus being drawn away from productivity to merger management are two advantages of mergers and acquisitions 126. The SBA will provide prospective businessmen with “face to face” services at one of their approximately 73 regional offices located within the United States 127. OPEC was founded in 1960 in Baghdad 128. The intent of forming a trading bloc can range from the potential of trade creation to the desire for economic protectionism 129. The four categories of motivational reasons why companies expand globally are: primary, alternate, proactive and reactive 130. Production related reasons seem to be relatively small motivational factors for domestic firms expand globally [Show More]

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