e. the multinational model, In order to achieve cost economies, Peak Manufacturing bases its production plants in Mexico and gets its engineering services from skilled workers in Japan. What are the advantages and disadvantages of exporting as a mode of entry into foreign markets? Service Corps of Retired Executives E. letter of credit, When a time draft is drawn on and accepted by a business firm, it is known as a(n) _____. B. counterpurchase B. a. ethnocentric Which of the following is true with respect to the international and domestic practices of settling trade transactions? D. It collects duties on exported products and sets interest rates for charging foreign investors. d. ethnocentrism A. B. It allows a firm to have its own company-owned facilities in a particular foreign market. B. bill of lading Export the data from quizlet, using ;TAB; for the word-def deliminater and ;BREAK; for the def-word deliminater. a. murder An advantage of _____ is that it helps in doing business in many developing nations that find it difficult to raise the foreign exchange necessary to pay for imports. E. bill of exchange, When serving as a _____, a bill of lading specifies that the carrier is obligated to provide a transportation service in return for a certain charge. b. decentralized structures e. intranational, Exporting, licensing, franchising, joint ventures, and wholly owned subsidiaries are all methods of c. avoiding the assignment of mentors e. avoids criticism, Heinrich is a German engineer working in Africa. A. b. competitive venture E. taking financial aid from Ex-Im Bank. E. Ministry of International Trade and Industry. b. CAFTA-DR C. switch trading e. trade barriers may be removed, a. it is consistent with a pure global strategy, A disadvantage of exporting is that c. varying sales practices among countries It is generally not preferred in international transactions. problems of using an underdeveloped international legal system to enforce contractual obligations. C. Foreign Credit Insurance Association e. intranational model, A disadvantage of the global model is that it B. e. transnational, Which of the following companies is an example of a transnational company? Seller agrees to a set price & receives cash from buyer Switch trading D. strategy management company a. political instability C. bill of exchange d. political demands by host countries D. offset This change is an example of a. international Countertrade is most likely to be used when: Exporting is the sale of products and services in foreign countries that are sourced from the home country. each team, use this variable to create a new variable, stadium age, by subtracting A. it fails to enable firms to finance an export deal. D. Barter d. the worldwide model d. submission C. Switch trading e. competitive pressures to reduce costs, Colas have become available around the globe, and they are used in similar ways worldwide. a. b. centralism Advantage 2 of exporting You can trade wit other countries. d. Mexico c. APEC 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. C. only U.S. firms. B. What is a common difficulty that traders face when exporting goods or services to other countries quizlet? A. a. there is a large amount of risk for the franchisor Your research and development budget could work harder as you can change existing products to suit new markets.. view details b. A. Kpler data shows Russian oil exports to the UAE more than tripled to 60 . E. Compensation, A firm concludes a counterpurchase agreement with a foreign country for which it receives some counterpurchase credits for purchasing its goods. B. specifies that the carrier is obligated to provide a transportation service in return for a certain charge. e. global, The two strategic models that have relatively high manufacturing costs are [73-75 In this case, Foam Cutters is following the ______ a. NAFTA a. growth of developing nations Buyer can't chose most competative supplier, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. name PP Door on the storefront of the leased location. B. in-transit bill a. it is highly responsive to consumer taste B. Expanding the variety of products for purchase by consumers and business. The lack of a letter of credit exposes the exporter to the risk that the foreign importer will default on payment. the value of the variable, year opened, from the current year. D. Buyback A. offshoring b. licensing This illustrates the ________ model for global strategy If Jamila goes to work at Regal's factory, she will be considered a(n): d. there is a high amount of political risk In international trade, an exporter wants to be paid before a consignment is shipped. c. the companies have centralized manufacturing facilities B. A. sogo shosha C. It gives a firm a way to finance an export deal when other means are not available. These factors result in: a. determine the profit-loss ratio for a new product C. Bill of lading It fails to give firms a way to finance an export deal. c. global Companies that export spread business risk by diversifying into multiple markets.. continue reading Which of the following is true of barter as a countertrade arrangement? against her. One advantage of exporting is that it provides scale economies. B. Identify which of the following accounts would be included in a post-closing trial balance. d. increase the average workers' wages A. d. expatriates b. lack of adequate housing c. offshoring D. cultural insensitivity A . exporter is exposed to the risk that the importer may default on payment, In the United States, export credit insurance is provided by _____, an association of private commercial institutions. D. there is mutual trust between the exporter and the importer. A. switch trading e. high labor costs, NAFTA combined the economies of ______ into one of the world's largest trading blocs Which of the following is a drawback of relying on an export management company (EMC)? E. bill of exchange. a. differences in distribution channels a. leads to increased prices a. Australia a. exporting A. shortening production runs. D. countertrade It facilitates an exporter to obtain pre-export financing. a. international mores Apparently, both the lessor and the c. inadequate access to health benefits c. a pipe fabricator d. the subsidiaries depend completely on the parent company for new products Federal Mediation and Conciliation Service This is an example of _____. Prevalent in dealing with developing-country governments, Nontraditional trade deals since the 1960s Which of the following is true of a letter of credit in international trade? A. proactively and continuously seek export opportunities for their affiliated companies. c. it is the most expensive method of expanding globally A. Chronic shortage of hard currency a. exporting d. transnational E. Bill of exchange, A _____ is issued by a bank, and it indicates that the bank will make payments under specific circumstances. It gives the exporter greater flexibility to choose the goods that it wishes to purchase. e. licensee has lower production costs, a. licensee bears most of the costs and risks associated, A disadvantage of licensing is that the licensing company d. Panasonic c. loss of control over quality C. foreign direct investment management firm b. a food product that has international popularity C. It serves as a receipt, a contract, and a document of title. c. multinational Export promotion industries have a wide market for their produce for both domestic and foreign markets. B. c. Brazil no knowledge of the lease agreement. b. b. increase their level of productivity The figures show an astonishing 25% surge in the UK's exports of services since the British people voted to leave the EU. Which of the following forms of countertrade is the country most likely to use? c. Calculate the chi-square test statistic for testing the null hypothesis, part b. e. inpatriation, Which of the following has been an unexpected effect of offshoring? C. Overseas Commercial Service THis tutorial shows you how to export data from Quizlet.com to use elsewhere. B. d. global and international at 73 Main Avenue. It provides large revenue and profit opportunities. quartiles using formula (4-1 ). b. licensing e. Taiwan, Which of the following existing agreements includes Costa Rica, Nicaragua, and the United States? B. U.S. Commercial Service A. Export-Import Bank They are organizations within the U.S. Department of Commerce. c. traditional practices b. strategy through which the firm sells products in markets outside the firm's domestic market. When a time draft is presented to a drawee, he or she signifies acceptance of it by: Trade expansion benefits families and businesses by: Supporting more productive, higher paying jobs in our export sectors. C. strict enforcement of contractual obligations. d. realizes higher profit margins B. This practice is referred to as d. licensing d. delaying the creation of job objectives Requires a single contract To serve the increasing demand for cruises, Carnival is constantly expanding its fleet of ships. a. domestic a. loss of scale economies Merger Compute the D. filing a suit against the importer in court. d. host-country national Following generally accepted accounting principles, Carnival depreciates the cost of each ship over its 30-year estimated useful life. In an international transaction, the seller usually ships merchandise on an open account. E. The creditworthiness of the importer is irrelevant when issuing a letter of credit. Countertrade occurs when the: D. the importer has to pay even if the conditions stated in the letter are not satisfied. D. It gives the exporter counterpurchase credits, which can be used to purchase goods from another country. c. wholly owned subsidiary these are the best method to overcome high entry barriers these minimize risks and capital requirements. What are the advantages of export promotion? Few companies invest more in equipment than Carnival Cruise Lines, the most popular cruise line in the world. c. Mexico B. Germany has been a relatively self-contained continental economy in which international trade played a minor role. C. Compensation c. multinational and international E. is an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time. C. It allows an exporter to get a higher price for his or her goods. B. offset Foreign Credit Insurance Association a. Brazil C. International Trade Veteran's Group For an importer, which of the following is a disadvantage of using a letter of credit for international transactions? a. a loss of control over technology is likely to occur Accounts Receivable _______ c. Goodwill _______ e. Income Tax Expense A. asset for the drawee. B. outsourcing Which of the following is an advantage of choosing exporting as a mode of entry into foreign markets? They consider exporting only after their domestic market is saturated. property at 73 Main Avenue, Norwalk, Connecticut, C. Offset E. countertrading opportunities. e. sincerity, intro to organizational management Ch. c. culture shock United Nations Question 2 Which of the following is an advantage of using exporting as an international business strategy? c. responsibility E. It gives novice exporters the names and addresses of potential distributors in foreign markets along with businesses they are in. E. The Small Business Administration. C. the exporter is a dominant player in a noncompetitive market. E. the Export Legal Assistance Network. B. Central Bank B. a. universal needs e. lack of proper training, Which of the following characteristics is most likely associated with an international executive? Which of the following is true of exporting? c. the cost of development is high Successful exporting requires that agents perform all of the following except _____. D. SCORE list lose out on significant opportunities for cost reduction. d. expatriation D. Ex-Im Bank Contingent on a second contract = seller agrees to purchase goods for same cash amount or set percentage of it, Alternative technique for expanding into international markets B. a. third-country nationals C. In a domestic transaction, a draft is used to settle trade transactions. A. runs the risk of spreading its limited management resources too thin. d. transnational B. buying export credit insurance. e. inpatriates, Which of the following is a reason why some companies prefer to use expatriates at their overseas operations? E. It is the direct exchange of goods without a cash transaction. C. It coordinates a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. Documentation = Official forms and other paperwork required in export transactions for shipping and custom procedures. b. multinational A. the importer has to request for it. The advantage of this mode of entry is that firms avoid the expense of establishing operations in the new country. e. multinational and transnational, The ___ organizational model is designed to enable a company to market a standardized product in the worldwide marketplace and to manufacture that product in a limit number of locations where the mix of costs and skills is most favorable d. inpatriates D. it does not allow firms to invest in an in-house trading department dedicated to arranging and managing deals. a. the global model a. an automative plant b. differences in traditional practices among countries b. Inverse. Main advantages of direct exporting are as under: 1. e. global market integration, The model in which managers use their organization's existing core capabilities to expand into foreign markets is called the ____ model. In an international transaction, a formal promise to pay is required before the buyer can obtain merchandise. Barterthe oldest form direct exchange of goods without any money C. The United States A major advantage of using export strategies to enter international markets is that Multiple Choice these can be used to avoid tariffs and curb the effects of fluctuating exchange rates. d. global The use of a specialized third-party trading house in a countertrade arrangement is known as _____. a. it does not provide scale economies a. international C. It helps the importer to get goods for a lower price. D. sight drafts and time drafts. Offset C. the importer has to pay for the merchandise even before receiving the documents. a. the existence of widely torn traditional clothing styles go to your study set and click edit. b. low cost sites are available 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. A. A. countertrade b. multinational these are the most efficient and flexible method to discover and accommodate changes in local demand O . it may involve the exchange of poor-quality goods that cannot be disposed of profitably. It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys who provide free initial consultations to small businesses on export-related matters. c. immigrant Small Business Administration E. It cannot be sold by an exporter. D. offsourcing, For the past several years, FuturaCloud hired a firm in India to handle its technical customer support. Advantage 1 of exporting You can make money from selling lots of different items. c. global Carnival estimates that its ships will sail for 30 years before they are retired. D. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. Rodrigo is an example of a(n) B. C. Firms prefer to be paid in hard currency. E. barter, When a firm enters a(n) _____ agreement with a country, it often ends up with what are called counterpurchase credits, which can be used to purchase goods from that country. b. flexible a. international D. bill of lading E. offsourcing, Which of the following is one of the three regions that dominate the global economy? B. acculturation It oversees volunteers with international trade experience and directs them to provide one-on-one counseling to active and new-to-export businesses. Which of the following is a way in which the U.S. Department of Commerce helps potential exporters? Which of the following is a reason why firms are not proactive about seeking export opportunities? E. Federal Reserve Bank, The Foreign Credit Insurance Association (FCIA) is an association of private commercial institutions operating under the guidance of the _____. D. It involves huge cash transactions. E. export management list. c. it provides the opportunity to achieve a low-cost position via scale economies E. The Ministry of International Trade and Industry (MITI) in the United States is always on the lookout for export opportunities. d. decreasing consumer demand a. cannot easily transfer core skills among international operations It provides a potential exporter with a "best prospects" list. d. it requires a minimum amount of effort and coordination by the parent company Organizations resort to countertrade of goods and services when: A=$15,000;i=0.01;n=28;P=A=\$ 15,000 ; i=0.01 ; n=28 ; P=A=$15,000;i=0.01;n=28;P= ? C. buyback b. expatriates often tend to transfer the corporate culture and best practices to other countries A. c. second-party nationals B. similar preferences of the parties regarding how a transaction should be configured. D. When goods are exchanged simultaneously, one partner ends up financing the other. e. expatriates tend to be more available than the local employees, b. expatriates often tend to transfer the corporate culture and best practices to other countries, The main cause of failure of overseas managers is a. significant differences in consumer tastes among countries D. Small Business Administration Which of the following is a function of an export management company? Lack of international marketing prowess A. C. a counterpurchase International Trade Administration A. counterpurchase There is no need to adapt the products to be exported to local conditions as they are sold as is. b. decision making is done at a local level B. countertrade E. barter. B. D. Federal Deposit Insurance Corporation CostofMerchandiseSoldGrossProfitonSalesExpensesNetIncomebeforeFederalIncomeTax35.0%65.0%40.0%25.0%. a. companies who use offshoring find that their travel costs decrease C. exporter is unable to obtain any pre-export financing. c. join venture d. expatriates Which of the following is an advantage of a letter of credit for an importer? Enables firms to generate hard currency & access markets, 4 main types It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular, specified documents. See full answer below. C. barter e. it has reversed the trend of increased automation, c. wages in the foreign countries rise, reducing the expected cost savings, An organization's economic environment includes A. maker E. an export management company is used. D. guanxi e. intranational, Which model involves fostering communication among subsidiaries to permit transfer of skills? Export promotion leads to expansion of goods for the foreign market. d. the United States, the European Union, and Canada, Which of the following has become an important provider of online technological support for the United States? A. bill of exchange Exporting outside Northern Ireland can change your business. A. B. Counterpurchase a. expatriate C. It reduces the importer's ability to borrow funds for other purposes. a. global and transnational C. letter of credit D. a formal document for acknowledgement is not available. True E. kanban. c. multinational d. vertical axis measures employee satisfaction and the horizontal axis measures management credibility a. franchising E. It allows buyers to obtain possession of merchandise without signing a formal document acknowledging his or her obligation to pay. e. intranational, The organizational model that enables managers to "think globally but act locally" is the D. states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. 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. B. offset d. it helps reduce wage stagnation of workers in the home country b. competitiveness A. bill of lading A. They are unfamiliar with foreign market opportunities. a. identifying lucrative consumers on a global scale E. Compensation, A(n) _____ refers to a buying agreement similar to counterpurchase, but the exporting country can then fulfill the agreement with any firm in the country to which the sale is being made. It states that the bank will pay a specified sum of money to a beneficiary on presentation of particular, specified documents. A. In global trade, exporting is the process by which companies from one country sell their goods and services to companies or consumers in a different country. While in Great Britain, Dan notices that he feels anxious every time he has to drive on a two-way street. C. Export-Import Bank A. saturation of the domestic market. A. contract drafts and lending drafts. B. Bill of lading Compare the actual component percentages to the target percentage. A. C. banker's acceptance b. IBM a. large low-cost manufacturing facilities located in selected locations with products exported to various subsidiaries In international commerce, a party initiating a draft is known as the _____. B. draft c. entering overseas markets d. high transportation costs Door and its owner, Ping Ying Li. c. marriage B. a lack of trust between the parties. C. banker's acceptance C. can be used to obtain payment or a written promise of payment before the merchandise is released to the importer. e. the system lowers manufacturing costs by eliminating duplication of effort, b. the parent company allows the subsidiaries to respond to local conditions, Companies that decentralize their operations throughout the globe in order to appeal to the varying tests and preferences of global consumers are utilizing a(n) _____ model c. standardizes its goods and services ignoring customers' preferences It protects exporters from the risk that the foreign importer will default on payment. b. the European Union _______ b. A. a letter of credit c. the international model It is a very complex arrangement. A. The United States is the largest services trading country in the world. A. barter C. insourcing Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. It requires an in-house trading department to be maintained, which can be expensive and time-consuming. A. trade acceptance could gain from importing include the potential lowering of costs of goods sold. B. Why might the court agree? b. multinational model d. the Association of Southeast Asian Nations The Company operates a subsidiary in Australia, marketing products that are customized to appeal to Australian tastes. A. bill of lading B. letter of credit Firms can avoid setting up in-house trading departments. e. ASEAN, Which of the following is a major exporter of petroleum, or oil? Which of the following is not a strategic advantage of exporting: A broker or other import consultant can help an importer minimize import duties by _____. B. the Soviet Union E. They are global export management companies. of PP Door, signed the lease agreement. B. D. U.S. Department of Commerce It protects exporters from the risk that the foreign importer will default on payment. True The most significant disadvantage concerning franchising is brand name recognition. c. traditional practices among countries are similar E. It allows for a delay in payment. When a time draft is drawn on and accepted by a bank, it is known as a _____. c. global A. document of title If a percentage is unacceptable, suggest a possible action to correct the unacceptable component percentage. Your research and development budget could work harder as you can change existing products to suit new markets. The firm does not want any foreign goods, however, so it sells the credits to a third-party trading house at a discount. b. a wholly owned subsidiary offers too much flexibility over operations e. bears most of the risks associated, Bob's Better Burgers sells small business owners the rights to use the company's brand name in return for a lump-sum payment and a share of the buyer's profits. c. FTAA B. A. switch trading d. overseas consumers are often resentful of foreigners E. lowering unit costs. A. lessor with credit information. d. global model It reduces the exporter's level of trust in the importer. D. have monopolized the export market in the country. C. SCORE program A. matchmaker program With Wise Business, you can receive in up to 10 different currencies and take advantage of local account details, making for quick and convenient transactions. e. the Asia Pacific Economic Cooperation group, Which of the following is the largest export market of the United States? Large firms generally tend to be _____ about seeking opportunities for profitable exporting. Entering several markets simultaneously to hedge risk a. it facilitates the transfer of skills from the parent company to the subsidiaries d. franchising b. keeping the assignment structure open When serving as a _____, a bill of lading is used to obtain payment or a written promise of payment before the merchandise is released to the importer. b. host-country national The most comprehensive source of information on export opportunities for U.S. firms is the _____. D. Developing nations may have trouble raising the foreign exchange necessary to pay for imports. a. Japan d. APEC Treaty e. compassion, US business people working abroad may face ethical challenges, in particular because of cultural differences regarding The National Tax Journal (December 2001) published a study of charitable givers based on data collected from the Independent Sector Survey on Giving and Volunteering. 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. The governments of developing nations sometimes insist on a certain amount of countertrade. D. Firms usually appreciate being paid in the form of goods and services instead of hard currency. Obtaining pre-export financing becomes easier. B. large multinational enterprises. Family issues are the main reason for expatriates to return home early. b. multinational Export Trade Assistance Partnership Receiving payments on time is crucial for global businesses. It is the most restrictive countertrade arrangement. D. draft She also denied signing the guaranty agreement. D. They are departments in the Small Business Administration. c. exporting Time draft A. Japan's great trading houses are referred to as _____. The situation in which consumer tastes and preferences regarding a product are similar in many different countries is an example of It assembles a "comparison shopping service" for 14 countries that are major markets for U.S. exports. The lessor d. The South Pacific e. intranational, Which of the following factors would increase the pressure for local responsiveness? c. immigrants The International Trade Administration provide the potential exporter with a(n) _____, which gives the names and addresses of potential distributors in foreign markets along with businesses they are in, the products they handle, and their contact person. E. barter. Paste the data into Microsoft Word. a. inpatriation Refer to the Baseball 2016 data that report information on the 30 Major League . b. traditional practices C. Securitization A. C. barter Develop a box plot It is primarily used with trading partners who are not creditworthy or trustworthy. 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