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business
business communication

Questions and Answers of Business Communication

Distinguish between confiscation, expropriation, and nationalization.
What three methods can businesses use to manage political risk?
What is meant by the term legal system?
Explain the role of nationalism in politics.
Identify the main features of each type of legal system (common, civil, and theocratic).
What are intellectual property rights? What is the significance of such rights?
Explain the term industrial property. What are its two types?
What is a copyright? Explain its importance to international business.
Identify the ramifications of antitrust (antimonopoly) laws and product liability laws.
Identify the three main features of totalitarianism.
Why are international relations among countries important to international business?
Many people question the existence of the United Nations (UN). Do you think the existence of the UN is useful for business?
Briefly explain each form of totalitarianism.
How might a totalitarian government affect business activities?
What is democracy? Explain the difference between democracy and totalitarianism.
What five freedoms does a representative democracy strive to provide its people?
How might a democratic government affect business activities in a nation?
Does Venezuela have a democratic or totalitarian political system?
What are the five main types of political risk? How might each affect international business activities?
The Internet and the greater access to information it can provide are forcing politicians to change their methods of governing. How might the Internet change totalitarian political systems, such as
Under a totalitarian political system, the Indonesian economy grew strongly for 30 years. Meanwhile, the economy of the largest functioning democracy, India, performed poorly for decades until
Consider the following statement: “Democratic political systems, as opposed to totalitarian ones, provide international companies with more stable environments in which to do business.” Do you
What actions can companies and governments take to ensure that products cannot be easily pirated? Be specific.
Do you think that the international business community is being too lax about the abuse of intellectual property rights? Are international companies simply afraid to speak out for fear of
Increased digital communication may pose a threat to intellectual property because technology allows people to create perfect clones of original works. How do you think the Internet is affecting
What are the benefits of having a code of ethics in place for companies operating in foreign markets?
What are the four commonly cited philosophies of business ethics?
You are the manager of an oil and gas company that is considering drilling in a wildlife preserve abroad. You decide to go ahead with the project because the economic benefits of job creation
Your manager or supervisor tells you to “do whatever it takes to meet the goals as long as it’s legal.” What ethical approach do you think he or she favours?
What is the Corruption Perception Index?
What is the main objective of the Principles of Responsible Investment (PRI)?
What are the benefits for the signatories?
What are the sanctions for not complying with the PRI?
Can a company guarantee that its employees or its stakeholders will act ethically by having a code of ethics in place? Why or why not?
Two owners of small businesses are discussing the various reasons why they don’t apply corporate social responsibility to their business practices. “It’s too expensive to implement;” “The
Consider the following statement: “Developed countries provide international business with more secure environments in which to operate.” Do you agree? Why or why not? Support your argument with
Which ethical philosophy is TVIRD using in the Philippines?
Name a few of TVIRD’s corporate social responsibility initiatives.
What is the relation between culture and economics?
What is meant by the term economic development? Explain the relation between productivity and living standards.
Describe two measures of economic development and list their advantages and disadvantages.
Explain the concept of purchasing power parity. What are its implications for a nation’s relative income per capita?
Explain the concept of the Big Mac Index. What are the implications for a Canadian business trying to export its products?
Explain the value of the Human Development Index (HDI) in measuring a nation’s level of development.
How are communicable diseases devastating human and economic development in some poor nations?
Identify the main characteristics of: (a) Developed countries, (b) Newly industrialized countries, (c) Emerging markets, and (d) Developing countries.
What are several reform measures that are involved in economic transition?
Describe some of the remaining obstacles to businesses in transitional economies.
Explain Russia’s experience with economic transition.
Explain government’s role in a market economy. How are economic freedom and living standards related?
What is a centrally planned economy? Describe the link between central planning and communism.
Identify several factors that contributed to the decline of centrally planned economies.
Describe China’s experience with central planning, and the challenges it faces.
What is a mixed economy? Explain the origin of mixed economies.
Explain the changes occurring in mixed economies and the role of privatization.
Define what is meant by market economy and identify its three required features.
Do you consider Canada a mixed economy or a market economy?
The Internet has penetrated many aspects of business and culture in developed countries, but it is barely available in many poor countries. Do you think this technology will widen the economic
Imagine that you are the director of a major international lending institution supported by funds from member countries. What one area in newly industrialized and developing economies would be your
Two students are discussing the pros and cons of different measures of economic development. “GDP per capita,” declares the first, “is the only true measure of how developed a country’s
Why do you think the Cuban government requires non-Cuban businesses to hire and pay workers only through the government? Do you think it is ethical for non-Cuban businesses to enter into partnerships
Do some research on Cuba, and describe a scenario for economic transition in the event that the current regime collapses. How do you think transition to a market economy in Cuba would differ from the
How might a Canadian company and its shareholders be affected by the US anti-Cuba Act?
The United States is Canada’s largest trading partner. Some Canadian businesses with large investments in the United States may want to support the US embargo on Cuba in order to protect their US
What is the relation between trade and world output?
How does export financing promote trade? Explain its importance to small and medium-sized firms.
Explain how local content requirements, administrative delays, and currency controls restrict trade.
How did mercantilism work? Identify its three essential pillars.
What types of policies might a country have in place to be called neo-mercantilist?
Describe the main flaws of mercantilism. What is meant by the term zero-sum game?
What is meant by the term absolute advantage? Describe how it works using a numerical example.
What is meant by the term comparative advantage? How does it differ from an absolute advantage?
Explain why countries can gain from trade even without having an absolute advantage.
Identify the two categories of national resources in factor proportions theory. What is the Leontief Paradox?
What are the three stages of the international product life cycle theory? Identify its limitations.
Describe the broad pattern of international trade.
What is the new trade theory? Explain what is meant by the term first-mover advantage.
Describe the national competitive advantage theory. What is an “advanced” factor?
What are the four elements and two influential factors of the Porter Diamond?
Why is a nation’s level of trade dependence or independence important?
What are some political reasons why governments intervene in trade?
Identify the main economic motives for government trade intervention. What are the drawbacks of each method of intervention?
How can special government agencies help promote trade?
How do tariffs and quotas differ from one another? Identify the different forms each can take.
What is an embargo? Explain why it is seldom used today.
How do governments use subsidies to promote trade? Identify the drawbacks of subsidies.
Many economists believe that China will soon achieve “superpower” status because of its economic reforms, along with the work ethic and high education of its population. How is the rise of China
Despite its abundance of natural resources, Brazil was once considered an economic “basket case.” Yet in recent years Brazil’s economy has performed very well. What forces do you think are
Discuss which industries are Canada’s main export industries based on national competitive advantage.
“You can’t tell consumers that the low price they are paying for that fax machine or automobile is somehow unfair. They’re not concerned with the profits of some company. To them, it’s just a
As we have seen, currently the WTO cannot get involved in punishing individual companies—its actions can only be directed toward governments of countries. Do you think this is a wise policy? Why or
Explain the need for customer knowledge, following clients, and following rivals in the FDI decision.
What is a country’s balance of payments? Briefly explain its usefulness.
Explain the difference between the current account and the capital account.
For what reasons do host countries intervene in FDI?
For what reasons do home countries intervene in FDI?
What methods do home countries use to promote and restrict FDI?
What factors influence global flows of foreign direct investment?
Identify the main destinations of foreign direct investment. Is the pattern shifting?
How does the theory of market imperfections (internalization) explain FDI?

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