Question

QUESTION 1

A code of ethics ________________________________.

should be standardized across companies following the AMA guidelines

is only necessary for large corporations

needs to be vague so that it could be used to understand any potential situation

should specify expected behavior in as many potential situations as possible

may be more effective in guiding employee behavior than external governmental regulation

1 points  

QUESTION 2

For most foods products that are imported into the US from the European Union, companies have to pay a(n) ________________ in order to be able to bring the products into the country.

exchange control fee

tariff

quota amount

license fee

VAT tax

1 points  

QUESTION 3

Since global expansion typically means bringing the company's existing products to new markets, it would be considered a ____________________ strategy in the strategic opportunity matrix model.

market development

diversification

market penetration

market innovation

product development

1 points  

QUESTION 4

Ethics refers to ________________________________.

the results of philantropic decision making

rules and guidelines for what is considered the right action in a society

the legal framework in a country

the activities a company can engage in to support its community

stakeholder politics

1 points  

QUESTION 5

______________ is an example of a Free Trade Agreement.

The Paris agreement

NAFTA

GATT

The World Bank

The World Trade Organization

1 points  

QUESTION 6

When it comes to its product strategy in India, McDonald's  ________________________.

has to offer the same menu as in other foreign markets since this is a franchising organization

should keep the same food as in the US but change the layout of the restaurants

should adapt its menu to create a better fit with cultural preferences

should offer the same exact menu items as in the US since it is a global brand

can change some of its seasoning but should still provide its mostly beef-based menu from the US since it's a hamburger fast food restaurant

1 points  

QUESTION 7

Procter and Gamble sells its products across the entire world. For its distribution strategy ______________________________.

the best option is a standardized approach because consumer shopping behavior for consumer packaged goods is the same across all cultures

the company needs to take into account that the retail structure differs significantly across countries

the company will be able to work with the same retail companies in every market it operates in

currency effects will be the most important determinant of the distribution strategy

the company should use the same strategy it uses in the US

1 points  

QUESTION 8

For a small manufacturing company _____________________ may be the best foreign market entry strategy since it entails the least amount of risk.

exporting

a joint venture

licensing

franchising

direct investment

1 points  

QUESTION 9

Lego products sold across the world are almost all the same and much of the manufacturing of the Lego bricks still takes place in Denmark. The company also uses a similar marketing strategy globally. The benefit of such approach is __________.

that the company can avoid tariff rates

economies of scale and lower manufacturing costs

better adaptation to local cultural needs

easier adaptation to local regulation about toy quality

a unique brand image for every market

1 points  

QUESTION 10

_____ is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates.

Environmental consideration

Corporate social responsibility

Conventional morality

Consumerism

Cultural sensitivity

Answer 1