IB 300 Final Exam Questions with
Verified Solutions
Why do companies not export? - ANS-Preoccupation with home markets & reluctance
to embark on a new and unknown operations
When nonexporting firms are asked why they do not export, they commonly list each of
the following as problems except: (I've listed them all) - ANS-Identification of foreign
markets, payment and financing procedures, export procedures
What is the first step in locating foreign markets? - ANS-To determine whether there is a
need for the firm's products
Once the potential exporter has established that there may be a market for the firm's
products, it's time to: - ANS-Begin foreign market research
For U.S. firms that are already exporting, which of the following organizations offers
export promotion activities that include export counseling, analysis of foreign markets,
assessment of industry competitiveness, and development of market opportunities and
sales representation through export promotion events? - ANS-International Trade
Administration
The Small Business Administration (SBA) provides what kind of assistance? - ANS-
offers business development and financial assistance through its office of International
Trade to encourage small businesses to export
Credit information can be available for new exporters through all of the following except:
(I've listed them all) - ANS-Credit reporting agencies, The Finance, Credit, and
International Business Association (FCIB), and the exporter's bank
Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the
textbook, which of the following is not on the list: (I've listed all 12) - ANS-*failing to
obtain export counseling
*making an insufficient commitment to overcome the initial difficulties and financial
requirements of exporting
*taking insufficient care in selecting overseas sales representatives
*chasing order from around the world instead of establishing a basis for profitable
operations
*neglecting export business when the home market booms
*failing to treat international distributors on an equal basis
, *Assuming that a market technique and product will automatically be successful in all
countries
*failing to modify products to meet regulations or cultural preferences
*failing to provide service, sales, and warranty information in locally understood
languages
*failing to conside the use of an export management company
*failing to consider a licensing or joint venture agreement
*failure to provide readily available servicing for the products
Which of the following were not identified as being part of the export marketing plan:
(I've listed them all) - ANS-specific about the marekts to be developed
marketing strategy for serving them
the tactics required to carry out the strategy
sales forecasts and budgets
pricing policies
product characteristics
promotional plans
details on arrangements with foreign representatives
According to the text, it has been argued that the ultimate goal of effective supply chain
management systems is to - ANS-reduce inventory
according to the text: - ANS-an important factor in the structure and management of a
compay's global supply chain is the process of design
A traditional approach to product design, which involves sequential approach to design,
has been termed - ANS-over the wall approach
reasons for sourcing globally that were discussed in the text include all of the following
except: (I've listed them all) - ANS-obtain lower prices
products not available locally
foreign competitors are using better quality
relocating some or all of a business's activities or processes to a foreign location is -
ANS-offshoring
a reason that outsourcing has become an increasingly common option for companies is
- ANS-they focus scarce resources on core capabilities, leverage skills of other
companies to reduce costs and investments, improve flexibility and speed of response,
enhance quality, and provide other strategic benefits
the following arrangement can provide a firm with foreign products - ANS-wholly owned
subsidiary, overseas joint venture, in bond plant contractor, overseas independent
contractor, independent overseas manufacturer
Verified Solutions
Why do companies not export? - ANS-Preoccupation with home markets & reluctance
to embark on a new and unknown operations
When nonexporting firms are asked why they do not export, they commonly list each of
the following as problems except: (I've listed them all) - ANS-Identification of foreign
markets, payment and financing procedures, export procedures
What is the first step in locating foreign markets? - ANS-To determine whether there is a
need for the firm's products
Once the potential exporter has established that there may be a market for the firm's
products, it's time to: - ANS-Begin foreign market research
For U.S. firms that are already exporting, which of the following organizations offers
export promotion activities that include export counseling, analysis of foreign markets,
assessment of industry competitiveness, and development of market opportunities and
sales representation through export promotion events? - ANS-International Trade
Administration
The Small Business Administration (SBA) provides what kind of assistance? - ANS-
offers business development and financial assistance through its office of International
Trade to encourage small businesses to export
Credit information can be available for new exporters through all of the following except:
(I've listed them all) - ANS-Credit reporting agencies, The Finance, Credit, and
International Business Association (FCIB), and the exporter's bank
Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the
textbook, which of the following is not on the list: (I've listed all 12) - ANS-*failing to
obtain export counseling
*making an insufficient commitment to overcome the initial difficulties and financial
requirements of exporting
*taking insufficient care in selecting overseas sales representatives
*chasing order from around the world instead of establishing a basis for profitable
operations
*neglecting export business when the home market booms
*failing to treat international distributors on an equal basis
, *Assuming that a market technique and product will automatically be successful in all
countries
*failing to modify products to meet regulations or cultural preferences
*failing to provide service, sales, and warranty information in locally understood
languages
*failing to conside the use of an export management company
*failing to consider a licensing or joint venture agreement
*failure to provide readily available servicing for the products
Which of the following were not identified as being part of the export marketing plan:
(I've listed them all) - ANS-specific about the marekts to be developed
marketing strategy for serving them
the tactics required to carry out the strategy
sales forecasts and budgets
pricing policies
product characteristics
promotional plans
details on arrangements with foreign representatives
According to the text, it has been argued that the ultimate goal of effective supply chain
management systems is to - ANS-reduce inventory
according to the text: - ANS-an important factor in the structure and management of a
compay's global supply chain is the process of design
A traditional approach to product design, which involves sequential approach to design,
has been termed - ANS-over the wall approach
reasons for sourcing globally that were discussed in the text include all of the following
except: (I've listed them all) - ANS-obtain lower prices
products not available locally
foreign competitors are using better quality
relocating some or all of a business's activities or processes to a foreign location is -
ANS-offshoring
a reason that outsourcing has become an increasingly common option for companies is
- ANS-they focus scarce resources on core capabilities, leverage skills of other
companies to reduce costs and investments, improve flexibility and speed of response,
enhance quality, and provide other strategic benefits
the following arrangement can provide a firm with foreign products - ANS-wholly owned
subsidiary, overseas joint venture, in bond plant contractor, overseas independent
contractor, independent overseas manufacturer
