Bussiness Q&a

In: Business and Management

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Chapter Three
The World Marketplace: Business without Borders

Review Questions

1. What countries represent the largest global business opportunities for the next decade? What factors determine the size of the opportunity?

2. Why do companies tend to thrive in global markets when their country of origin enjoys a comparative advantage in their industry?

3. Explain how to calculate the balance of trade. How does the growing United States trade deficit impact the economy? Why?

4. Explain the meaning of “strong” currency and “weak” currency. What are the advantages and disadvantages of each?

5. Why is outsourcing such an attractive way for firms to tap into foreign markets? What are the risks of foreign outsourcing?

6. Outline the potential pros and cons of the 3 key strategies for developing foreign markets: exporting, licensing and franchising, and direct investment.

7. Explain how countertrading works. What are the benefits and drawbacks for both parties that engage in countertrading?

8. What are the key elements of sociocultural barriers to trade? How can companies overcome these barriers?

9. How has NAFTA impacted the U.S.? Overall, do you believe that it was a positive move for the U.S.? Why or why not?

10. What is the overarching goal of the European Union? What role has been played by the introduction of the euro?

Application Questions

1. An ever-growing world population means that there are countless opportunities for American firms to conduct business abroad, especially in developing nations. Use the Internet to research population and GDP trends around the world. Based on your findings, select five nations not mentioned in Exhibit 3.1, and investigate them further as potential markets…...

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