MBA 776 International Mktg - Exam 2 A Darrat – LSUS:
Questions With Accurate Solutions
Arbitration Correct Answer - A method of dispute resolution where a
neutral third party makes a legally binding decision.
Bribery Correct Answer - The act of offering, giving, receiving, or
soliciting something of value to influence a decision or action
Civil/Code Law Correct Answer - A legal system based on written legal
codes and statutes.
Collectivism Correct Answer - A cultural orientation that emphasizes
group goals, social harmony, and interdependence.
Common Law Correct Answer - A legal system based on tradition,
precedent, and past judicial decisions
Confiscation Correct Answer - The seizure of a company's assets by a
government without compensation.
Conciliation (Mediation) Correct Answer - A method of dispute
resolution where a neutral third party facilitates discussions, but the outcome
is non-binding.
Copyrights Correct Answer - Legal rights granted to the creator of
original works of authorship, including literary, dramatic, musical, and certain
other intellectual works.
Cultural Electives Correct Answer - Customs that are optional;
participating can help build rapport but is not necessary.
Cultural Exclusives Correct Answer - Customs that are reserved for
locals and should not be attempted by outsiders.
Cultural Imperatives Correct Answer - Customs and behaviors that must
be followed in a country to maintain successful relationships.
, Domestication Correct Answer - A gradual process where foreign
business ownership is transferred to local entities.
Expropriation Correct Answer - A government takes over foreign assets
but offers compensation, which may be inadequate
Foreign Corrupt Practices Act (FCPA) Correct Answer - A U.S. law that
prohibits U.S. companies and individuals from bribing foreign officials to
obtain or retain business.
Individualism Correct Answer - A cultural orientation that emphasizes
personal goals, autonomy, and independence.
Information-Oriented Culture: Correct Answer - A culture that is low
context, individualistic, monochronic, and transactional.
Intellectual Property (IP) Correct Answer - Creations of the mind, such
as inventions, literary and artistic works, designs, and symbols, names, and
images used in commerce.
Islamic Law Correct Answer - A legal system based on religious
teachings in the Quran, governing social and economic behavior.
Joint Venture Correct Answer - A business arrangement in which two or
more parties agree to pool their resources for the purpose of accomplishing a
specific task.
Litigation Correct Answer - A formal lawsuit in a country's court system.
Low-Context Culture Correct Answer - A culture that relies on direct
communication, individualism, and explicit messages.
Marxist-Socialist Law Correct Answer - A legal system found in countries
where law is subordinate to state economic planning.
Monochronic Time Correct Answer - A time orientation where time is
linear, and punctuality and scheduling are important.
Questions With Accurate Solutions
Arbitration Correct Answer - A method of dispute resolution where a
neutral third party makes a legally binding decision.
Bribery Correct Answer - The act of offering, giving, receiving, or
soliciting something of value to influence a decision or action
Civil/Code Law Correct Answer - A legal system based on written legal
codes and statutes.
Collectivism Correct Answer - A cultural orientation that emphasizes
group goals, social harmony, and interdependence.
Common Law Correct Answer - A legal system based on tradition,
precedent, and past judicial decisions
Confiscation Correct Answer - The seizure of a company's assets by a
government without compensation.
Conciliation (Mediation) Correct Answer - A method of dispute
resolution where a neutral third party facilitates discussions, but the outcome
is non-binding.
Copyrights Correct Answer - Legal rights granted to the creator of
original works of authorship, including literary, dramatic, musical, and certain
other intellectual works.
Cultural Electives Correct Answer - Customs that are optional;
participating can help build rapport but is not necessary.
Cultural Exclusives Correct Answer - Customs that are reserved for
locals and should not be attempted by outsiders.
Cultural Imperatives Correct Answer - Customs and behaviors that must
be followed in a country to maintain successful relationships.
, Domestication Correct Answer - A gradual process where foreign
business ownership is transferred to local entities.
Expropriation Correct Answer - A government takes over foreign assets
but offers compensation, which may be inadequate
Foreign Corrupt Practices Act (FCPA) Correct Answer - A U.S. law that
prohibits U.S. companies and individuals from bribing foreign officials to
obtain or retain business.
Individualism Correct Answer - A cultural orientation that emphasizes
personal goals, autonomy, and independence.
Information-Oriented Culture: Correct Answer - A culture that is low
context, individualistic, monochronic, and transactional.
Intellectual Property (IP) Correct Answer - Creations of the mind, such
as inventions, literary and artistic works, designs, and symbols, names, and
images used in commerce.
Islamic Law Correct Answer - A legal system based on religious
teachings in the Quran, governing social and economic behavior.
Joint Venture Correct Answer - A business arrangement in which two or
more parties agree to pool their resources for the purpose of accomplishing a
specific task.
Litigation Correct Answer - A formal lawsuit in a country's court system.
Low-Context Culture Correct Answer - A culture that relies on direct
communication, individualism, and explicit messages.
Marxist-Socialist Law Correct Answer - A legal system found in countries
where law is subordinate to state economic planning.
Monochronic Time Correct Answer - A time orientation where time is
linear, and punctuality and scheduling are important.
