GB 350 FINAL EXAM 2026 TEST PAPER
SOLVED ITEMS APPROVED
◉ What does the code of ethics do. Answer: it ensures that people
who are the management level, who are making decisions that affect
people at the lower level are treated the same
◉ Benefits of the Code of Ethics. Answer: - avoids confusing decision
making
- facilitates conversation about what is right and what is wrong
- makes sure that everybody is on the same page
◉ What does the code of ethics not do. Answer: - it does not say that
management is exempt from this policy, but lower level employees
aren't. It helps avoid these issues
◉ Company Culture. Answer: - like personality
- invisible set of norms that guide behavior in an organization and is
the foundation that the company's results rest on
- a matter of understanding that the way an organization operates
those invisible norms, they will influence all the down to customer
experience
- if there is a level of toxicity at the high level, this will eventually
trickle down to the employees, then the customers
,Example: Employees at Wells Fargo were taking money from
customer because they didn't feel like they were being treated well
and the only way they could capitalize on this was to make these
fake accounts
◉ Gross Domestic Product. Answer: - the total market value of all
final economic output for a country for a given period of time
- products that are created and sold domestically
- C(consumer spending) + G(government spending) + I(businesses
investments) + E(exports) - I(import $$)
◉ Balance of Trade. Answer: The difference between a country's
exports and imports (imports - exports)
◉ Trade Surplus. Answer: Exports>Imports (selling more $$ than
you are spending)
◉ Trade Defecit. Answer: Imports>Exports (spending more $$ than
you are selling)
- In 2022, the US had a $600B trade defecit
◉ Benefits of Imports:. Answer: - provide access to domestically
unavailable products
- lower prices decrease business's production costs
,- lower prices increase average house hold buying power by 18k
◉ Methods of entering the international marketplace. Answer: -
Exporting
- Licensing and Franchising
- Contract Manufacturing
- Joint Ventures
- Direct Investment
◉ Exporting. Answer: - least risky with the least reward
- the company simply ships the product elsewhere but doesn't set up
shop in other countries
◉ Licensing and Franchising. Answer: - the organization allows an
international entity to operate the business model
◉ Contract Manufacturing. Answer: -where the marketer actually
outsources the manufacturing of its products, a lot of the time these
products will be branded under the marketers name, not the
contract manufacturer
- a lot of this is done because of the lower costs
◉ Joint Ventures. Answer: - where companies partner
, - one company partners with an international partner to create
value.
- a lot of the times this has to do with the other company having
something the other needs
◉ Direct Investment. Answer: - most risky and most rewarding
- the company sets up shop and maintains operation there
THINK THEY GO DIRECTLY THERE
example: Walmart and Starbucks do not partner with anyone, they
simply go and set up shop
◉ Factors influencing decisions to enter into international trade:.
Answer: - Resources
- Culture
- Demographics
- Economic
- Political
◉ What options does the government have in place to influence the
success of a marketer internationally?. Answer: - Tariffs
- Quotas
- Tariff Rate Quotas: a product can be imported up to a certain
quantity amount at one tariff rate or even tariff free, after that max
amount has been imported, the tariff increases
SOLVED ITEMS APPROVED
◉ What does the code of ethics do. Answer: it ensures that people
who are the management level, who are making decisions that affect
people at the lower level are treated the same
◉ Benefits of the Code of Ethics. Answer: - avoids confusing decision
making
- facilitates conversation about what is right and what is wrong
- makes sure that everybody is on the same page
◉ What does the code of ethics not do. Answer: - it does not say that
management is exempt from this policy, but lower level employees
aren't. It helps avoid these issues
◉ Company Culture. Answer: - like personality
- invisible set of norms that guide behavior in an organization and is
the foundation that the company's results rest on
- a matter of understanding that the way an organization operates
those invisible norms, they will influence all the down to customer
experience
- if there is a level of toxicity at the high level, this will eventually
trickle down to the employees, then the customers
,Example: Employees at Wells Fargo were taking money from
customer because they didn't feel like they were being treated well
and the only way they could capitalize on this was to make these
fake accounts
◉ Gross Domestic Product. Answer: - the total market value of all
final economic output for a country for a given period of time
- products that are created and sold domestically
- C(consumer spending) + G(government spending) + I(businesses
investments) + E(exports) - I(import $$)
◉ Balance of Trade. Answer: The difference between a country's
exports and imports (imports - exports)
◉ Trade Surplus. Answer: Exports>Imports (selling more $$ than
you are spending)
◉ Trade Defecit. Answer: Imports>Exports (spending more $$ than
you are selling)
- In 2022, the US had a $600B trade defecit
◉ Benefits of Imports:. Answer: - provide access to domestically
unavailable products
- lower prices decrease business's production costs
,- lower prices increase average house hold buying power by 18k
◉ Methods of entering the international marketplace. Answer: -
Exporting
- Licensing and Franchising
- Contract Manufacturing
- Joint Ventures
- Direct Investment
◉ Exporting. Answer: - least risky with the least reward
- the company simply ships the product elsewhere but doesn't set up
shop in other countries
◉ Licensing and Franchising. Answer: - the organization allows an
international entity to operate the business model
◉ Contract Manufacturing. Answer: -where the marketer actually
outsources the manufacturing of its products, a lot of the time these
products will be branded under the marketers name, not the
contract manufacturer
- a lot of this is done because of the lower costs
◉ Joint Ventures. Answer: - where companies partner
, - one company partners with an international partner to create
value.
- a lot of the times this has to do with the other company having
something the other needs
◉ Direct Investment. Answer: - most risky and most rewarding
- the company sets up shop and maintains operation there
THINK THEY GO DIRECTLY THERE
example: Walmart and Starbucks do not partner with anyone, they
simply go and set up shop
◉ Factors influencing decisions to enter into international trade:.
Answer: - Resources
- Culture
- Demographics
- Economic
- Political
◉ What options does the government have in place to influence the
success of a marketer internationally?. Answer: - Tariffs
- Quotas
- Tariff Rate Quotas: a product can be imported up to a certain
quantity amount at one tariff rate or even tariff free, after that max
amount has been imported, the tariff increases
