Latest MBA 776 LSUS- Darrat Exam 1 with Correct Answers

Latest MBA 776 LSUS- Darrat Exam 1 with Correct Answers Global Commerce thrives during... *Ans* Peacetime (Economic boom in 1990s, end o gthe Cold War, Opening former communist countries to world trading system) Why is international trade important? *Ans* Lack of consistent and predictable trade policies can lead to tension (Company scandals and layoffs, wars and political unrest, natural disasters and pandemics, financial and economic disruptions) 4 trends affecting global business *Ans* 1. Growth of the WTO and open trade agreements 2. developing countries moving toward free trade 3. Internet, cellular and networked communication 4. Mandate to manage the global environment for the future What happens during the globalization of markets increase *Ans* More foreign customers, competitors, suppliers Competition comes from domestic and foreign firms What is the importance of US brands having global reach *Ans* Important for US businesses to thrive Foreign Sales can exceed domestic sales Foreign investments generate a lot of revenue The performance of business activities *Ans* Plan, price, promotion, direct flow of goods and services for profit For consumers or users in more than one nation Unique form domestic marketing *Ans* Many unfamiliar problems require unique strategies to cope with problems Level of uncertainty and uncontrollable in foreign markets Uncontrollable uncertainty *Ans* Created by uncontrollable elements in business environments Each international market has it's own set of factor