Quiz 1

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Regent University *

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BUSN-460

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Management

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Feb 20, 2024

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14

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Quiz # 1 Due Jan 21 at 11:59pm Points 100 Questions 20 Time Limit 90 Minutes Allowed Attempts 2 Instructions This quiz is based on materials from Chapters 1-5 of International Business by Mason A. Carpenter and Sanjyot P. Dunung (2012) published under Creative Commons License by Saylor Academy in pdf or html formats at URLhttps://open.umn.edu/opentextbooks/textbooks/international-business & (https://open.umn.edu/opentextbooks/textbooks/international-business) The pdf version was used for this quiz. This quiz consists of 20 multiple-choice questions. It is an open book and open note quiz. You will have 90 minutes to complete this quiz. The quiz must be completed in one sitting so allow enough time to do so. The quiz is also set to allow for two attempts should you decide to take it again but will only take the score from the last attempt (not the highest). Read each question fully and select the best answer from the choices given. You are not allowed to consult other class members or any other resources when taking the quiz, and you cannot share your answers with anyone else in the course. You must do your own work. By starting this quiz, you accept and affirm that you will comply with these conditions. Take the Quiz Again (https://regent.instructure.com/courses/14318/quizzes/85635/take?user_id=5489) Attempt History Attempt Time Score Attempt 1 (https://regent.instructure.com/courses/14318/quizzes/85635/history? 76 100 out of LATEST : . version=1) minutes 100 (D Correct answers are hidden. Score for this attempt: 100 out of 100 Submitted Jan 19 at 2:54pm This attempt took 76 minutes.
Question 1 515 pts According to Carpenter and Dunung, strategic management: encompasses a full range of cross-border exchanges of goods, services, or resources between two or more nations. is the body of knowledge that answers questions about the development and implementation of good strategies and 1s mainly concerned with the determinants of firm performance. is defined as the recognition of opportunities (i.e., needs, wants, problems, and challenges) and the use or creation of resources to implement imnnovative ideas for new, thoughtfully planned ventures. is a form of entrepreneurship that takes place inside a business that 1s already 1n existence. Correct. Question 2 5/5 pts Carpenter and Dunung offer that stakeholder analysis 1s a technique used to identify and assess the importance of that may significantly influence the success of an activity, project, or business. vendors and distributors strengths, weaknesses, opportunities, and threats key people, groups of people, or institutions
taxes and labor rates Correct! Question 3 5/3 pts Although to be successful, international business must have some level of profit to be sustainable, many companies measure success in other ways as well leading to a “three-part” mission statement. This includes not only a product mission but also: an 1mport mission and an export mission an economic mission and a humanitarian mission an economic mission and a social and environmental mission an international mission and a domestic mission Correct! Question 4 5135 pts According to economist Thomas Friedman, contrary to the celestial truth, the world is flat from a global economic perspective with the globalization of innovation. International business professor Panka; Ghemawat takes issue with this perspective and offers that we live in a multi-domestic world and offers the CAGE framework for analysis. This framework consists of the following elements of:
Culture, Administration, Geography and Economics Climate, Agriculture, Geology, and Education Communication, Access to capital, Government grants, Environment Culture, Administration, Globalization and Environmental impact Correct! Question 5 513 pts To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade. The main historical theories are called and mercantilism, competitive advantage country similarity theory, product life cycle theory classical, modern absolute advantage, comparative advantage Correct! Question 6 515 pts
Carpenter and Dunung discuss the various forms of government ideologies and systems an international business student should be familiar with and list several key policy areas that these various forms of government can use to create rules and regulations to control and manage trade. Some of these examples of how governments intervene in trade include: tariffs, taxes, and treaties subsidies, set-asides, and state-owned firms currency controls, local content requirements, and import quotas neutral zones, maritime boundaries, and anti-piracy laws Correct! Question 7 9/5 pts Different countries often have different legal systems that are impacted by political and economic ideologies. The three main kinds of legal systems that either whole or in part that they operate under. These are: common law, civil law, and religious law traditional law, military law, and theocratic law, Vatican law, Hammurabi law, and Islamic or Sharia Law public law, commercial law, and communal law
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