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business
business communication

Questions and Answers of Business Communication

Distinguish relativism and normativism. Which one should the firm apply in its activities?
What is an ethical dilemma? Give an example of an ethical dilemma that MNEs encounter abroad.
What is corporate social responsibility (CSR)? How does it differ from general ethical behavior?
Why is CSR important to the internationalizing firm?
What is sustainability? How might the firm undertake sustainability in its value-chain activities?
Describe the five standards managers can use to examine ethical dilemmas.
Describe the steps in the framework for ethical conduct.
What steps can the firm take to develop its orientation to CSR and sustainability in international operations?
South Africa is home to huge reserves of coal, gold, diamonds, and natural gas. In addition to their intrinsic value, gold and diamonds have many industrial uses in which South Africa is the world
Economist Lester Thurow once posed the following question: “If you were the president of your own country and could choose one of two industries in which to specialize, computer chips or potato
To reduce poverty in Africa, government officials want to increase African exports to Europe. Africa’s top exports include agricultural products, such as meat, coffee, peanuts, and fruit. However,
1. What are the roles of comparative and competitive advantages in Hyundai’s success? Illustrate your answers by providing specific examples of natural and acquired advantages that Hyundai employs
Your company is interested in importing wines from Argentina. In analyzing this opportunity, you want to identify the strengths and weaknesses of the Argentine wine industry. What are the conditions
Volvo (www.volvo.com) and Pilkington (www.pilkington.com) are major multinational firms with operations that span the globe. Investigate these firms by visiting their Web sites, as well as
The World Bank works to alleviate world poverty. The Bank provides information about conditions in developing countries, which it uses to measure progress in economic and social development. World
Why do nations engage in international business? That is, what are the benefits of international trade and investment?
Describe the classical theories of international trade. Which theories do you believe are relevant today?
What is the difference between the concepts of absolute advantage and comparative advantage?
Summarize factor proportions theory. What factors are most abundant in the following countries: China, Japan, Germany, Saudi Arabia, and the United States? Visit globalEDGE™ for helpful information.
Summarize the international product life cycle theory. Use the theory to explain the international evolution of automobiles and laptop computers.
What are the main sources of national competitive advantage? Think about a successful product in your country; what are the sources of competitive advantage that explain its success?
Do you believe your country should adopt a national industrial policy? Why or why not?
Describe the internationalization process of the firm. Review the background of major MNEs by visiting their Web sites. What is the nature of internationalization in these firms? What is the nature
FDI-based explanations of international business evolved over time. Describe the evolution of these explanations from monopolistic advantage theory, through internalization theory, to the eclectic
What are ownership-specific advantages, location specific advantages, and internalization advantages?
For business enterprises to thrive, some minimum conditions must be present, including recognition of private property rights and limited government intervention. To what extent may totalitarianism,
Suppose you get a job at Aoki Corporation, a firm that manufactures glass for industrial and consumer markets. Aoki is a large firm but has little international experience. Senior managers are
The United States imposed a trade and investment embargo on Iran. U.S. citizens were barred from doing business with Iran. Proponents argue the embargo is justified because Iran has supported
Pharmaceutical firms engage in large-scale, intensive R&D to create and market drugs meant to treat everything from cancer to hair loss. Thousands of pharmaceutical drugs allow people to live longer
Supranational organizations such as the World Bank (www.worldbank.org ) and the World Trade Organization (www.wto.org ) oversee much of the legal framework within which the world trading system
When companies venture abroad, managers seek information on the legal and political environments in each country. This information is available from various Web sources, as illustrated in the
Freedom House is a nonprofit organization that monitors the state of freedom worldwide. It conducts an annual “Freedom in the World Survey,” which you can view at www.freedomhouse.org. The survey
What are the components of political systems? What are the components of legal systems? How do these systems lead to country risk?
Distinguish between totalitarianism, socialism, and democracy. What are the implications of each for internationalizing firms?
What are the specific characteristics of democracy? How do these characteristics facilitate international business?
What is the relationship between political freedom and economic freedom?
Describe the major types of legal systems. Which systems are most widely encountered?
Who are the major actors in political and legal systems? Which participant do you believe is most influential in international business?
Summarize how political and legal systems affect international business.
Describe proactive actions that firms can take to minimize country risk.
TelComm Corporation is a manufacturer of components for the cell phone industry. TelComm’s founder, Mr. Alex Bell, is interested in exporting the firm’s products to China. He heard that China has
The United States steel industry, once the world leader, now produces less steel than either China or Japan. American steel producers are threatened by price-competitive suppliers in Brazil, Russia,
You are Vice President for International Sales at AgriCorp, a large trading company that exports processed foods to Africa. You are often frustrated that African countries impose high tariffs
1. Where do you stand? Do you think EU subsidies and soft loans to Airbus are fair? Why or why not? What advantages does Airbus gain from free financial support from the EU governments? Are
Your firm is considering exporting to two countries: Kenya and Vietnam. However, management’s knowledge about the trade policies of these countries is limited. Conduct a search at globalEDGE™ to
The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating United States international trade and investment policies. Visit the USTR Web site from globalEDGE™
Discuss the relationship between government intervention and protectionism.
Distinguish among tariffs, nontariff trade barriers, investment barriers, and government subsidies.
What are the major types of nontariff trade barriers? Suggest business strategies for minimizing the effect of nontariff trade barriers.
Distinguish between countervailing duties and antidumping duties.
In what ways do government subsidies and procurement policies amount to protectionism?
What is the rationale for intervention? Why do governments engage in protectionism?
How did government intervention evolve between the first and second halves of the twentieth century?
How has government intervention evolved during the global financial crisis?
Describe various company strategies to manage government intervention.
What is the role of FDI, licensing, and joint ventures in reducing the impact of import tariffs?
There are some 200 economic integration agreements in effect around the world already, far more than even a few years ago. Virtually every country is now party to one or more free trade agreements.
Following implementation of free trade agreements, trade has grown within each of the CARICOM and CAN economic blocs. The growth of within-bloc trade implies that exports from your country to these
You are a member of a government task force evaluating the future of NAFTA between Canada, Mexico, and the United States. Proponents want to transform NAFTA into a common market by removing barriers
1. China has the most comparative advantages in producing apparel. Free trade theory implies that retailers should import clothing from the most efficient country. Given this, and potential drawbacks
There has been much opposition to the Free Trade Area of the Americas (FTAA). For a sampling of arguments against this proposed pact, visit www.globalexchange.org, www.citizenstrade.org , and
Visit the Web sites of three major economic blocs. One way to do this is to enter the acronyms for each bloc into a globalEDGE™ search. Using the “Success Factors for Regional Integration”
NAFTA is a free trade area, and the EU is a common market. Visit the Web sites of these two economic blocs, www.nafta-sec-alena.org and www.europa.eu, and explain the business strategy implications
What is a regional economic integration bloc (also called an economic bloc)?
What is the role of free trade agreements in the formation of economic blocs?
Distinguish the different levels of economic integration.
Differentiate between a free trade area and a customs union. Differentiate between a customs union and a common market.
What are the worlds’s leading economic blocs? Which blocs are most advanced in terms of regional integration?
Describe the major characteristics of the EU and NAFTA.
Why do nations seek to join or form economic blocs? What are the advantages of such arrangements?
What national conditions contribute to the success of economic integration?
Explain the drawbacks and ethical dilemmas of regional integration for nations. Explain the drawbacks and ethical dilemmas for firms.
Distinguish between trade creation and trade diversion.
What strategies should companies employ to maximize the benefits of regional integration?
Suppose you work at Microsoft in their Xbox video game console division. Microsoft has long targeted Xbox to the advanced economies, especially in North America and Europe. Management would like to
CBKing has been trying to export its products to various emerging markets and has enjoyed little success so far. You know a lot about emerging markets and have been anxious to share your views with
One mission of the International Monetary Fund (IMF) is to help poor countries overcome economic crises by providing loans and policy advice. During the global financial crisis, many countries
1. Describe the various advantages that firms like Tata employ to become large industrial conglomerates. How can Tata use these same advantages to succeed in foreign markets?2. What makes emerging
The World Bank sponsors the Doing Business database (www.doingbusiness.org ), which provides measures of business regulations and their enforcement in 175 countries. Firms can use these measures to
Using globalEDGE™, find the “country commercial guide” for two emerging markets of your choice. Compare the two countries on the following dimensions: “leading sectors for exports and
The three groups of countries described in this chapter can be contrasted in terms of degree of economic freedom. Economic freedom refers to the extent to which economic activities in a nation can
What are advanced economies, developing economies, and emerging markets? What are the major distinctions among these three country groups?
Explain why firms want to do business in emerging markets. What makes these markets attractive?
How can managers estimate the true market potential of emerging markets?
Describe the various risks and challenges encountered in emerging markets.
What is a family conglomerate (FC)? How do FCs differ from publicly owned companies? What role do FCs play in emerging markets?
Describe the process for selling to foreign governments and state enterprises.
Doing business in emerging markets involves strategies that are often distinct from those of other international venues. What types of business approaches can firms use when doing business in
How can firms show corporate social responsibility in emerging markets and developing economies?
How is Africa evolving? What can businesses do to support the development of Africa?
Everest Company has been exporting its line of mountain-climbing equipment to buyers worldwide for 30 years. Top markets include France, Norway, Switzerland, India, and Japan. Customers in these
The global financial crisis emerged in 2008–2009. What were the major symptoms of the crisis? What were the major causes? What role did excessive money supply play in the emergence of the crisis?
You are an adviser to a legislator who oversees the banking industry. During the global financial crisis in 2008–2010, several banks collapsed and private citizens lost much money. Problems arose
1. Explain the advantages and disadvantages of the globalization of finance. How did it contribute to the global financial crisis?2. Describe how the fall of AIG exemplifies contagion. How did the
There are numerous foreign exchange calculators on the Internet, such as www.x-rates.com. You can find them via globalEDGE™ or by entering the keywords “exchange rate” into a Google search.
Assume you are a manager at a firm interested in doing business in Russia. As part of your initial analysis, top management would like to know about the level of currency and financial risks
The International Monetary Fund (IMF) lists its purposes as follows: (1) to promote international monetary cooperation via consultation and collaboration on international monetary problems; (2) to
Distinguish between exchange rate and foreign exchange. What does each term mean?
Distinguish between convertible and nonconvertible currencies.
Exchange rates fluctuate constantly. What is the effect of this fluctuation on firms engaged in international business?

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