Chapter 5 - Glossary Quiz

1.	Involves managing operations in more than one country. Answer:

2.	The selling of state-owned enterprises into private ownership. Answer:

3.	The full-time employment of children for work otherwise done by adults. Answer:

4.	Cultures where time is used to accomplish many different things at once. Answer:

5.	A manager who is culturally aware and well informed on international affairs. Answer:

6.	Materials or services are purchased around the world for local use. Answer:

7.	The process of acquiring products abroad and selling them in domestic markets. Answer:

8.	The common European currency. Answer:

9.	The possible loss of investment or control over a foreign asset because of political changes in the host country. Answer:

10.

A political and economic alliance of European countries.

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11.

Forecasts how political events may affect foreign investments.

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12.

Member nations agree to negotiate and resolve disputes about tariffs and trade restrictions.

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13.

Meets the needs of the present without hurting future generations.

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14.

The North American Free Trade Agreement linking Canada, the United States and Mexico in a regional economic alliance.

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15.

A consequence of sub-prime mortgage defaults in the United States in 2008 culminating in a worldwide recession.

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16.

Cultures that emphasise communication via spoken or written words.

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17.

The worldwide interdependence of resource flows, product markets and business competition.

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18.

Conduct commercial transactions across national boundaries.

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19.

When a firm pays a fee for the rights to make or sell another company's products.

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20.

A local operation completely owned by a foreign firm.

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21.

Involves illegal practices to further one's business interests.

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22.

Cultures that rely on non-verbal and situational cues as well as spoken or written words in communication.

Answer:

23.

Offers a set of certification standards for responsible environmental policies.

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24.

A call for tariffs and favourable treatments to protect domestic firms from foreign competition.

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25.

Local products are sold abroad.

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26.

A shared set of beliefs, values and patterns of behaviour common to a group of people.

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27.

The confusion and discomfort a person experiences when in an unfamiliar culture.

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28.

Establish operations in a foreign country through joint ownership with local partners.

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29.

Studies how management practices differ between countries and cultures.

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30.

Employ workers at very low wages, for long hours, and in poor working conditions.

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31.

Resources, markets and competition are worldwide in scope.

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32.

A business with extensive operations in more than one foreign country.

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33.

The tendency to consider one's culture superior to others.

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34.

Provides the complete 'package' of support needed to open a particular business.

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35.

MNCs that operate worldwide on a borderless basis.

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36.

Live and work in a foreign country.

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37.

Cultures where people tend to do one thing at a time.

Answer:

38.

A group of Japanese manufacturers, suppliers and finance firms with common interests.

Answer:

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