IMS 3310 EXAM 1 UT DALLAS | QUESTIONS AND
ANSWERS | WITH CORRECT SOLUTION
International Business Answer - Business that is carried out across national
borders
Foreign Business Answer - The operations of a company outside its home or
domestic market
International Company (IC) Answer - A company with operations in multiple
nations
Environment Answer - All the forces influencing the life and development of
the firm
Uncontrollable forces Answer - The External forces that management has no
direct control over
What are the 11 Uncontrollable Forces? Answer - -competitive
-Distributive
-Economic
-Socioeconomic
-Financial
,-Legal
-Physical
-Political
-Sociocultural
-Labor
-Technological
Controllable Forces Answer - Internal forces that management administers to
adapt to changes in the uncontrollable forces
1. Human Resources
2. Finance
3. Production
4. Marketing
Domestic Environment Answer - All the uncontrollable forces originating in the
home country that surround and influence the life and development of the firm
Foreign Environment Answer - All the uncontrollable forces originating outside
the home country that surround and influence the firm
-values often differ widely
-difficult to asses, especially legal and political forces
-forces interrelated
International Environment Answer - Interactions between domestic and
foreign environmental forces, as well as interactions between the foreign
environmental forces of two countries
, -Decision making is more complex
-Managers in home office overseeing subsidiaries in 10 different nations must
consider not only domestic forces but also the influence of 10 foreign national
environments, both individually and collectively since there may be some
interaction
Self Reference Orientation Answer - Unconscious references to your own
cultural values when judging behaviors of others in environment
-Time Vs Money
Foreign Direct Investment (FDI) Answer - Direct investments in equipment,
structures, and organizations in a foreign country at a level sufficient to obtain
significant management control;
Note: does not include mere foreign investment in stocks
Exporting Answer - The transportation of any domestic good or service to a
destination outside a country or region
Importing Answer - The transportation of any good or service into a country or
region, from a foreign origination point
economic globalization Answer - The tendency toward an international
integration and interdependency of good, technology, info, labor, and capital,
or the process of making this integration happen
Trade Defecit Answer - The amount by which by which the value of imports
into a nation exceeds the value of trade exports
ANSWERS | WITH CORRECT SOLUTION
International Business Answer - Business that is carried out across national
borders
Foreign Business Answer - The operations of a company outside its home or
domestic market
International Company (IC) Answer - A company with operations in multiple
nations
Environment Answer - All the forces influencing the life and development of
the firm
Uncontrollable forces Answer - The External forces that management has no
direct control over
What are the 11 Uncontrollable Forces? Answer - -competitive
-Distributive
-Economic
-Socioeconomic
-Financial
,-Legal
-Physical
-Political
-Sociocultural
-Labor
-Technological
Controllable Forces Answer - Internal forces that management administers to
adapt to changes in the uncontrollable forces
1. Human Resources
2. Finance
3. Production
4. Marketing
Domestic Environment Answer - All the uncontrollable forces originating in the
home country that surround and influence the life and development of the firm
Foreign Environment Answer - All the uncontrollable forces originating outside
the home country that surround and influence the firm
-values often differ widely
-difficult to asses, especially legal and political forces
-forces interrelated
International Environment Answer - Interactions between domestic and
foreign environmental forces, as well as interactions between the foreign
environmental forces of two countries
, -Decision making is more complex
-Managers in home office overseeing subsidiaries in 10 different nations must
consider not only domestic forces but also the influence of 10 foreign national
environments, both individually and collectively since there may be some
interaction
Self Reference Orientation Answer - Unconscious references to your own
cultural values when judging behaviors of others in environment
-Time Vs Money
Foreign Direct Investment (FDI) Answer - Direct investments in equipment,
structures, and organizations in a foreign country at a level sufficient to obtain
significant management control;
Note: does not include mere foreign investment in stocks
Exporting Answer - The transportation of any domestic good or service to a
destination outside a country or region
Importing Answer - The transportation of any good or service into a country or
region, from a foreign origination point
economic globalization Answer - The tendency toward an international
integration and interdependency of good, technology, info, labor, and capital,
or the process of making this integration happen
Trade Defecit Answer - The amount by which by which the value of imports
into a nation exceeds the value of trade exports
