MGT 302 Final Mindy West ASU
Training Exam and Answers Graded
A+ 2025-2026 Updated.
Tacit - Answer information that is intuitive and difficult to articulate or codify in writing
Tacit - Answer -Can be gained through personal experience
-Standard knowledge might be dispersed throughout the company
Codified Knowledge - Answer Information that can be easily captured in the form of text,
tables, or diagrams
- Product specification, scientific formulas, and computer programs
Strategic Commitments - Answer 1. Firm resources and capabilities
2. Conditions in the target market
Strategic Commitments: Firms and Resources - Answer Intellectual properties, international
experience, financial resources
Strategic Commitments: Conditions in the target market - Answer Legal, cultural, and
economic conditions, information, exchange rate stability, government restrictions
Exporting - Answer The sale of products produced in one country to residents of another
country
Direct Exporting - Answer Company conducts all phases of the sale and transfer of the
merchandise to the buyer
Indirect Exporting - Answer Firms hires the expertise of someone else to facilitate the
exchange for a fee
Exporting Advantages - Answer -Avoids the costs of establishing manufacturing operations in
the host country
, Exporting Disadvantages - Answer - Trade barriers and tariffs
- Transportation Costs
- Need standardized products
- Payment concerns
- Exchange rate risk
Turnkey Projects - Answer When a firm agrees to set up an operating plant for a foreign
client and then hand over the "keys" when the plant is fully operational
Turnkey Advantages - Answer Can earn a return on knowledge asset, less risky than
conventional FDI
Turnkey Disadvantages - Answer Arrangement does not create long term interest in the
foreign country, may create a competitor
Licensing - Answer -An arrangement whereby a licensor grants the right to intangible
property to another entity for a specified period of time and in return, the licensor receives a
royalty fee from the licensee
- Grants the right to use production processes to reproduce a copyrighted item, to exchange for
royalties or other compensation
Franchising - Answer - Form of business by which the owner of a product, service, or method
obtains distribution through affiliated dealers
- Commonly used in the fast food industry
Franchising Advantages - Answer Quick low cost entry into numerous locations, reduces cost
and risk of establishing enterprise, expansion of brand identification and market reach, can
leverage the franchisees
Franchising Disadvantages - Answer Problems of assuring quality control and operating
standards, can tarnish franchisers image, conflicts and disputes likely, may create future
competition
Non Equity Strategic Alliances - Answer A formal relationship between two or more parties
to pursue a set of agreed upon goals while remaining independent organizations
Training Exam and Answers Graded
A+ 2025-2026 Updated.
Tacit - Answer information that is intuitive and difficult to articulate or codify in writing
Tacit - Answer -Can be gained through personal experience
-Standard knowledge might be dispersed throughout the company
Codified Knowledge - Answer Information that can be easily captured in the form of text,
tables, or diagrams
- Product specification, scientific formulas, and computer programs
Strategic Commitments - Answer 1. Firm resources and capabilities
2. Conditions in the target market
Strategic Commitments: Firms and Resources - Answer Intellectual properties, international
experience, financial resources
Strategic Commitments: Conditions in the target market - Answer Legal, cultural, and
economic conditions, information, exchange rate stability, government restrictions
Exporting - Answer The sale of products produced in one country to residents of another
country
Direct Exporting - Answer Company conducts all phases of the sale and transfer of the
merchandise to the buyer
Indirect Exporting - Answer Firms hires the expertise of someone else to facilitate the
exchange for a fee
Exporting Advantages - Answer -Avoids the costs of establishing manufacturing operations in
the host country
, Exporting Disadvantages - Answer - Trade barriers and tariffs
- Transportation Costs
- Need standardized products
- Payment concerns
- Exchange rate risk
Turnkey Projects - Answer When a firm agrees to set up an operating plant for a foreign
client and then hand over the "keys" when the plant is fully operational
Turnkey Advantages - Answer Can earn a return on knowledge asset, less risky than
conventional FDI
Turnkey Disadvantages - Answer Arrangement does not create long term interest in the
foreign country, may create a competitor
Licensing - Answer -An arrangement whereby a licensor grants the right to intangible
property to another entity for a specified period of time and in return, the licensor receives a
royalty fee from the licensee
- Grants the right to use production processes to reproduce a copyrighted item, to exchange for
royalties or other compensation
Franchising - Answer - Form of business by which the owner of a product, service, or method
obtains distribution through affiliated dealers
- Commonly used in the fast food industry
Franchising Advantages - Answer Quick low cost entry into numerous locations, reduces cost
and risk of establishing enterprise, expansion of brand identification and market reach, can
leverage the franchisees
Franchising Disadvantages - Answer Problems of assuring quality control and operating
standards, can tarnish franchisers image, conflicts and disputes likely, may create future
competition
Non Equity Strategic Alliances - Answer A formal relationship between two or more parties
to pursue a set of agreed upon goals while remaining independent organizations
