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Chapter 8: Global Management
TRUE/FALSE
1. In the same way that business is defined as the buying and selling of goods and services, global
business is defined as the buying and selling of goods and services by people from different countries.
ANS: T PTS: 1 DIF: Easy REF: 296

TOP: AACSB Diversity | AACSB Analytic
KEY: Environmental Influence | Strategy
2. Regional domestic investment is a method of investment in which a company builds a new business or
buys an existing business in a foreign country.
ANS: F
Direct foreign investment is a method of investment in which a company builds a new business or buys
an existing business in a foreign country.
PTS: 1 DIF: Moderate REF: 298

3. Direct foreign investment is an increasingly important and common method of conducting global
business.

4. Multinational corporations are corporations that own businesses in two or more countries.

5. Random House publishing company has signed a contract with the Korean-owned Joo-Ang Ilbo Media
Network, which will sell Random House books in Asia’s third largest market. This is an example of a
direct foreign investment.
ANS: F
A direct foreign investment means the company would build a new business or buy an existing
business to expand into a foreign country.
PTS: 1 DIF: Moderate REF: 298 TOP: AACSB Analytic

KEY: Environmental Influence | Legal Responsibilities
6. No matter what part of the world they live in, most consumers prefer to buy domestically made
products rather than imported products.
ANS: F
Although most consumers usually don’t care where the products they buy come from, national
governments have preferred that consumers buy domestically made products in hopes that such
purchases would increase the number of domestic businesses and workers.

TOP: AACSB Reflective Thinking | AACSB Diversity
KEY: Environmental Influence | Individual Dynamics
7. The 20 percent tax on all leather shoes imported from China and Vietnam proposed by the European
Union’s trade commission is an example of protectionism.

TOP: AACSB Analytic KEY: Environmental Influence
8. The basis for determining whether Chupa Chups, the world’s largest maker of lollipops, received an
illegal subsidy from a European Union member nation lies in an examination of the category in which
the candy was classified.
ANS: F
It is an illegal subsidy when the subsidy thwarts competition.
PTS: 1 DIF: Difficult REF: 299 TOP: AACSB Analytic

9. The Maastricht Treaty of Europe was designed to create the European Union and make the euro, the
one common currency, for all members.

10. The North American Free Trade Agreement (NAFTA) is a regional trade agreement between Canada
and the United States. No other nations have signed this trade agreement.
ANS: F
NAFTA (the North American Free Trade Agreement) is a regional trade agreement between the
United States, Canada, and Mexico.
PTS: 1 DIF: Easy REF: 302

11. In a multinational company, managers at company headquarters value global consistency as a

company policy over local adaptation because global consistency simplifies decision-making at
corporate headquarters.

KEY: Environmental Influence | Strategy | Leadership Principles
12. Customs classification is a nontariff trade barrier. It is important to international marketers because the
category assigned by customs agents can affect the size of the tariff and the impact of import quotas.
ANS: T PTS: 1 DIF: Difficult REF: 300

KEY: Environmental Influence | Strategy | Legal Responsibilities
13. One reason that Americans get more for their money is that the U.S. marketplace is the most
competitive in the world even though it has been one of the hardest for foreign companies to enter.
ANS: F
Americans get more for their money because purchasing power in the United States is high.

KEY: Environmental Influence
14. Countries that have not been open to foreign companies and products have higher prices due to a low
level of competition. For example, Japanese trade barriers amount to a 51 percent tax on food for the
average Japanese family.
ANS: T PTS: 1 DIF: Moderate REF: 304

15. Historically, companies have generally followed the phase model of globalization.

16. The phase model of globalization means that companies made the transition from a domestic company
to a global company in three sequential phases. The three phases are exporting, followed by wholly
owned subsidiaries, and finishing with strategic alliances.
ANS: F
The phase model of globalization means that companies made the transition from a domestic company
to a global company in four sequential phases: exporting, followed by cooperative contracts, moving
next to strategic alliances, and finishing with wholly owned affiliates.

17. It appears that all companies follow the phase model of globalization when entering foreign markets.
ANS: F
Evidence suggests that some companies do not follow the phase model of globalization.

18. According to the Fair Labor Association, employees should not be required to work more than 40
hours and 20 hours of overtime.
ANS: F PTS: 1 DIF: Moderate REF: 308

TOP: AACSB Reflective Thinking | AACSB Ethics
KEY: Ethical Responsibilities | HRM
19. The two kinds of cooperative contracts are licensing and franchising.

TOP: AACSB Analytic KEY: Strategy
20. The biggest disadvantage associated with licensing is that the licensor gives up control over the quality
of the good or service sold by the foreign licensee.

TOP: AACSB Analytic KEY: Environmental Influence | Strategy
21. An international joint venture is an example of mutually beneficial direct foreign investment.
ANS: T
A joint venture is an example of a strategic alliance.

KEY: Strategy
22. One of the disadvantages of global joint ventures is that, unlike licensing and franchising, they do not
help companies to avoid tariff and nontariff barriers to entry.
ANS: F
One of the advantages of global joint ventures is that, like licensing and franchising, they help
companies avoid tariff and nontariff barriers to entry.

23. Global joint ventures can be difficult to manage because they represent a merging of four cultures.
ANS: T PTS: 1 DIF: Difficult REF: 310

KEY: Environmental Influence | Strategy | HRM
24. Unlike licensing, franchising, or joint ventures, wholly owned affiliates are 100 percent owned by the
parent company.

TOP: AACSB Analytic KEY: Strategy
25. Deciding where to go global is just as important as deciding how your company will go global.

26. Two factors that help companies determine the growth potential of foreign markets are purchasing
power and foreign competitors.

27. The criteria for choosing an office/manufacturing location are different from the criteria for entering a
foreign market.

28. When conducting global business, companies should attempt to identify the two types of political risk,
which are political uncertainty and economic uncertainty.
ANS: F
When conducting global business, companies should attempt to identify two types of political risk:
political uncertainty and policy uncertainty.

29. The three strategies used to minimize or to adapt to the political risk inherent to global business are
avoidance, control, and cooperation.
ANS: T PTS: 1 DIF: Moderate REF: 317-318

TOP: AACSB Analytic
30. A global business can prevent or reduce political risks by using a proactive strategy in which it lobbies
foreign governments or international trade agencies to change laws, regulations, or trade barriers.
ANS: F
This describes a control strategy.

31. The difficulty that companies face when trying to adapt management practices to cultural differences is
that different cultures will probably perceive management practices and policies differently.

32. Power distance is greatest in countries where power is distributed equally across all societies and
organizations.
ANS: F
Power distance is weakest in countries where power is distributed equally across all societies and
organizations.
PTS: 1 DIF: Moderate REF: 319 TOP: AACSB Diversity

KEY: Environmental Influence | Group Dynamics
33. SpongeBob SquarePants, the animated underwater adventures of a group of sea creatures, will soon be
available in China, but due to restrictions on conventional promotion, the event will be promoted on
the Great Wall. This modification of promotional strategy reflects a local adaptation to the Chinese
culture.
TOP: AACSB Diversity KEY: Environmental Influence | Strategy
34. When a company based in Singapore hires an Australian manager to run its manufacturing plant in
Australia, the manager would be classified as an expatriate.
ANS: F
An expatriate is someone who lives and works outside of his or her own country.
PTS: 1 DIF: Easy REF: 321 TOP: AACSB Diversity

KEY: Environmental Influence | Group Dynamics
35. The evidence clearly shows that how well an expatriate’s spouse and family adjust to the foreign
culture is the most important factor in determining the success or failure of an international
assignment.

KEY: Environmental Influence | HRM
36. According to “What Really Works,” studies have proven that cross-cultural training helps employees
to adjust more quickly to new cultures that they are unfamiliar with.

KEY: Environmental Influence | HRM
MULTIPLE CHOICE
1. Global business:
a. is the buying and selling of goods and services to people from different countries
b. includes any sale of goods and services
c. only involves companies with more than 50 employees
d. refers to sales made to people from different cultures, different regions, and different
nations
e. is unregulated
ANS: A
Definition of global business.

2. ____ is a method of investment in which a company builds a new business or buys an existing
business in a foreign country.
a. A strategic alliance
b. Direct foreign investment
c. A global new venture
d. A joint venture
e. Direct exporting
ANS: B PTS: 1 DIF: Easy REF: 298
3. Which of the following countries has the largest direct foreign investment in the United States?
a. Netherlands
b. Germany
c. Japan
d. Canada
e. United Kingdom
ANS: E PTS: 1 DIF: Moderate REF: 298
4. Nestlé is a company based in Switzerland with manufacturing plants in Columbia, Australia, Canada,
Egypt, Kenya, and more than 90 other nations. Nestlé is an example of a:
a. multidomestic global company
b. multinational corporation
c. ethnocentric organization
d. acculturated corporation
e. macro-marketer
ANS: B
A multinational corporation is defined as a corporation that owns businesses in two or more countries.
PTS: 1 DIF: Easy REF: 297 TOP: AACSB Analytic

5. Several Arab countries boycott Coca-Cola products because the soft-drink company maintains product
distributors in Israel. This boycott is an example of:
a. geocentrism
b. nationalism
c. nationalization
d. a trade barrier
e. acculturation
ANS: D
Trade barriers are defined as government-imposed regulations that increase the cost and restrict the
number of imported goods.

KEY: Environmental Influence | Ethical Responsibilities
6. The two general kinds of trade barriers are:

a. government import standards and industry import standards
b. qualitative and quantitative barriers
c. voluntary and involuntary barriers
d. nationalistic and geocentric barriers
e. tariff barriers and nontariff barriers
ANS: E PTS: 1 DIF: Easy REF: 299
7. Protectionism is the use of trade barriers to protect local companies and their workers from:
a. international unions
b. foreign competition
c. trademark infringements
d. patent violations
e. all of these
ANS: B
Definition of protectionism.

8. After years of flooding international markets with surplus milk products, the European Union, under
heavy pressure from member nations, has curtailed its $59 billion annual subsidy system for its dairies.
This curtailment of subsidies means:
a. an end to tariff barriers
b. European dairy farmers will no longer be protected from international competition
c. dairy products will be given a new customs classification
d. government import standards on dairy products will end
e. an end to voluntary export restraints
ANS: B
Subsidies are long-term, low-interest loans, cash grants, and tax deductions used to develop and
protect companies or special industries, such as dairy farmers.

9. The Japanese government has proclaimed that its snow is different from that found in any other region
of the world. As a result, all snow skis marketed in Japan must be manufactured in Japan. This is an
example of a(n):
a. tariff
b. nontariff barrier
c. import boycott
d. industry subsidy
e. industry nationalization
ANS: B
Nontariff barriers are defined as nontax methods of increasing the cost or reducing the volume of
imported goods.

10. The U.S. Rice Millers’ Association claims that if the Japanese rice market were opened to imports by
lowering tariffs, the resultant lower prices would save Japanese consumers about $6 billion annually.
The Japanese government continues to use the high tariffs to make sure local farmers can earn a living.
The tariff on rice is an example of:
a. a voluntary government restriction
b. geocentrism
c. protectionism
d. a security quota
e. a bureaucratic subsidy
ANS: C
The aim of the Japanese policy is to shield domestic competitors from foreign competition--an aim
consistent with protectionism.
11. A ____ is a nontax method of increasing the cost or reducing the volume of imported goods.
a. tariff
c. trade roadblock
d. risk-aversive boycott
e. subsidy quota
ANS: B PTS: 1 DIF: Moderate REF: 299
12. A(n) ____ is a direct tax on imported goods designed to make it more expensive to buy those goods, in
hopes of reducing the volume of those imported goods in a given country.
a. tariff
c. trade roadblock
d. boycott quota
e. import subsidy
ANS: A
Tariffs are defined as a direct tax on imported goods.

13. The Japanese government has proclaimed that its snow is different from that found in any other region
of the world. To make sure the product is safe for local use, all snow skis marketed in Japan must be
manufactured in Japan. This is an example of a(n):
a. tariff
b. government subsidy
c. voluntary export restraint
d. government import standard
e. subsidy
ANS: D
A government import standard is a standard established ostensibly to protect the health and safety of
citizens, but in reality, often used to restrict imports.
PTS: 1 DIF: Difficult REF: 299

14. Russia imposed limits on how much poultry, beef, and pork could be imported into the nation from the
European Union (EU) in retaliation to limits the EU placed on how much grain Russia could export.
What type of nontariff barrier did Russia use to control the amount of poultry, beef, and pork it
imported from the EU?
a. quotas
b. subsidies
c. boycotts
d. customs classifications
e. duties
ANS: A
A quota is defined as a limit on the number or volume of imported products.

15. The European Union (EU) bans the importation of hormone-fed U.S. beef and bioengineered corn and
soybeans on safety grounds although Americans eat this food every day. This ban is so consumers in
the EU will buy domestic beef and products made from domestically produced corn and soybeans.
This ban is an example of:
a. a subsidy
b. an involuntary import restraint
c. geocentrism
d. expropriation
e. a government import standard
16. ____ are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect
companies or special industries.
a. Quotas
b. Voluntary export restraints
c. Cooperative contracts
d. Government subsidies
e. Tariffs
ANS: D PTS: 1 DIF: Easy REF: 299
17. To protect its farmers, Japan put limitations on the amount of mushrooms and leeks that could be
imported into Japan from China. This limitation is an example of a(n):
a. tariff
b. voluntary import restraint
c. subsidy
d. agricultural import standard
e. import quota
18. The trade agreement that represented the most significant change to the regulations governing global
trade during the 1990s was the:
a. Maastricht Treaty of Europe
b. North American Free Trade Agreement
c. General Agreement on Tariffs and Trade
d. Mercosur
e. Asian Free Trade Arrangement
ANS: C
GATT was a comprehensive trading agreement originally signed by 124 countries, and providing the
basic framework for the World Trade Organization agreement of 1995.

19. The signing of the ____ created a regional trading zone.

a. the Maastricht Treaty
b. the Pact for Free Trade Agreement
c. the Global Agreement for Transactional Trading (GATT)
d. the South-East Asia Pact
e. all of these
ANS: A
The Maastricht Treaty established the European Union (EU) trading zone.

20. The General Agreement on Tariffs and Trade (GATT):

a. decreases both tariffs and nontariff barriers
b. puts stricter limits on government subsidies
c. eliminates tariffs in ten specific industries
d. protects intellectual property, such as trademarks, patents, and copyright
e. does all of these
ANS: E PTS: 1 DIF: Difficult REF: 300
TOP: AACSB Analytic KEY: Environmental Influence | Legal Responsibilities
21. The ____ is a regional trade agreement that liberalizes trade between countries more than any other
such agreement.
a. Maastricht Treaty of Europe
b. Association of South East Nations
c. Asia-Pacific Economic Cooperation agreement
d. North American Free Trade Agreement
e. Free Trade Area of South America
ANS: D PTS: 1 DIF: Moderate REF: 302
TOP: AACSB Reflective Thinking KEY: Environmental Influence
22. Trade barriers and free trade agreements matter to consumers because they do which of the following:
a. increase choices
b. increase competition
c. increase purchasing power
d. decrease what people pay for necessities
e. all of the choices
23. One of the major questions that a company must typically answer once it has decided to go global is:
a. How many additional employees will the company need?
b. To what extent should the company standardize or adapt business procedures?
c. To what extent should a company abide by global or regional trade agreements?
d. Will the organization’s mission statement need to be changed?
e. How many new shareholders will be influenced by global activities?
ANS: B
The question of whether to follow a strategy of global consistency or local adaptation is fundamental
to multinational business.

24. When a multinational company that acts with ____ has offices, manufacturing plants, and distribution
facilities in different countries, it will run those offices, plants, and facilities based on the same rules,
guidelines, policies, and procedures.
a. policy certainty
b. global consistency
c. global adaptation
d. global certainty
e. regiocentrism
25. In a multinational firm, managers at company headquarters typically prefer an emphasis on ____
because it simplifies decisions.
a. local consistency
b. local adaptation
c. global adaptation
d. global consistency
e. domestic adaptation
ANS: D PTS: 1 DIF: Easy REF: 305
TOP: AACSB Analytic
26. Which of the following approaches tends to be most important to making an international business
successful in any given country?
a. global consistency
b. local adaptation
c. domestic synergy
d. predetermined benchmarks
e. mechanistic controls
ANS: B
Local adaptation is more likely to be responsive to customer needs and tastes within a particular
market.
PTS: 1 DIF: Easy REF: 305-306 TOP: AACSB Analytic

27. Historically, most companies have used the ____ to successfully enter foreign markets.
a. phase model of globalization
b. global new venture approach
c. ripple approach
d. market echo approach
e. guerrilla approach
ANS: A
The phase model is incremental in its approach to growing an international business, and was
attractive because it increased risk/exposure to foreign markets gradually over time.

28. Which of the following represents the correct sequence for the phase model of globalization?
a. exporting; wholly-owned affiliates; cooperative contracts; strategic alliances
b. exporting; cooperative contracts; wholly owned affiliates; strategic alliances
c. exporting; cooperative contracts; strategic alliances; wholly owned affiliates
d. exporting; strategic alliances; cooperative contracts; wholly owned affiliates
e. home country sales; exporting; job ventures; strategic alliances, and direct investment
ANS: C PTS: 1 DIF: Difficult REF: 306
29. ____ occurs when a company sells domestically produced products to customers in foreign countries.
a. Direct foreign investment
b. Franchising
c. Licensing
d. Exporting
e. A joint venture
ANS: D
The definition of exporting.

30. Jim Beam is a distillery in the United States. In 2000, it began marketing its U.S. made liquor to
customers in 27 different European countries. Since it was at the first stage of the phase model of
globalization, it used ____ to reach European customers.
a. licensing
b. franchising
c. strategic alliances
d. exporting
e. direct investment
ANS: D PTS: 1 DIF: Moderate REF: 309
31. Fran Wilson Creative Cosmetics is a medium-sized U.S. company that sells 1.5 million tubes of its
Moodmatcher lipstick in Japan annually. It has no physical presence within the country beyond the
fact its products are sold there. Fran Wilson Creative Cosmetics uses ____ to reach the Japanese
market.
a. franchising
b. direct investment
c. licensing
d. a strategic alliance
e. exporting
32. SpongeBob SquarePants, the animated underwater adventures of a group of sea creatures, is produced
by MTV Networks, a part of the U.S. media group Viacom. The television show is broadcast in 171
international markets and has been translated into 26 different languages. Given that the show is
produced in the United States, which form of global business is MTV Networks using?
a. direct foreign investment
b. franchising
c. strategic alliance
d. exporting
e. a joint venture
ANS: D
Exporting occurs when a company sells domestically produced products to customers in foreign
countries.

TOP: AACSB Analytic | AACSB Diversity
33. A(n) ____ is an agreement in which a foreign business owner pays a company a fee for the right to
conduct that business in his or her country.
a. exporting agreement
b. cooperative contract
c. joint venture
d. strategic alliance
ANS: B
Definition of a cooperative contract.

34. ____ are both examples of cooperative contracts.

a. Licensing and joint ventures
b. Franchising and licensing
c. Direct investment and indirect investment
d. Direct exporting and indirect exporting
e. Joint ventures and strategies alliances
35. Sodiaal is a French cooperative that owns the name, the trade secrets, and the patents on Yoplait
yogurt. Before it purchased a controlling stake in Yoplait S.A.S. in 2011, General Mills paid Sodiaal
for the right to sell Yoplait yogurt in the United States. This is an example of:
a. licensing
b. a global joint venture
c. exporting
d. a strategic alliance
ANS: A
Licensing is defined as an agreement in which a domestic company, the licensor, receives royalty
payments for allowing another company, the licensee, to produce the licensor’s product, sell its
service, or use its brand name in a specified foreign market.
36. Robert Mondavi Wineries entered into an agreement with Baron Philippe de Rothschild, owner of
Bordeaux’s First Growth chateau, to produce a top quality wine in California. The two companies
working together to create a new product is an example of:
a. exporting
b. licensing
c. a strategic alliance
d. a cooperative contract
e. a wholly-owned subsidiary
ANS: C
A strategic alliance is an agreement in which companies combine key resources.

37. General Motors and Russia’s largest domestic carmaker collaborated to create a third independent
company to produce sport utility vehicles under the Chevrolet brand name. The two companies created
a:
a. global new venture
b. wholly owned affiliate
c. joint venture
d. strategic subsidy
e. new franchise
ANS: C
A joint venture is a strategic alliance in which two existing companies collaborate to form a third
independent company.

38. Ernest & Young, an international accounting and management consulting company, entered Hungary
first by establishing a joint venture with a local firm. Ernest & Young later acquired the company with
which it had the alliance. Ernst & Young then had a(n) ____ in Hungary.
a. franchise
b. licensing arrangement
c. cooperative contract
d. wholly owned affiliate
e. export agency
ANS: D
A wholly-owned affiliate is defined as foreign offices, facilities and manufacturing plants that are 100
percent owned by the parent company.

39. All global new ventures share two common factors. One is the bringing of a good or service to several
different foreign markets at the same time. The other is:
a. the development of culturally-specific implementation policies
b. the use of local adaptation strategy
c. a mechanistic organizational culture
d. the ability to respond quickly and efficiently to any changes in the external environment
e. none of these
ANS: E
The second factor is that, rather than going global one country at a time, new global ventures bring a
product or service to market in several foreign markets at the same time.

40. Which of the following types of global organization is most likely to suffer problems associated with
being culture bound?
a. licensing
b. franchising
c. joint ventures
d. global new ventures
e. wholly owned subsidiaries
ANS: B
A franchising organization is defined as a collection of networked firms in which the manufacturer or
marketer of a product or service (franchisor) licenses the entire business to another person or
organization (franchisee). Because franchisors are typically basing their plans on success in their home
market, and because franchisees are embedded in foreign cultures, this form is especially vulnerable to
cultural misunderstandings.

41. When McDonald’s entered into an agreement with a French entrepreneur who wanted to own and
operate a McDonald’s fast-food restaurant in Paris, it saw the new restaurant as an opportunity.
Unfortunately, the restaurant in Paris was not maintained at the cleanliness standards prescribed by
McDonald’s but at the cleanliness standards acceptable to the French. McDonald’s brought legal
action to have the restaurant closed. This example illustrates:
a. an opportunity for McDonald’s to enter into more joint ventures
b. a need for McDonald’s to curtail its international franchising
c. a cultural threat against McDonald’s
d. a weakness within the McDonald’s franchising system
e. a problem with franchising in different cultures
ANS: E
Cross-cultural franchises are especially vulnerable to such conflicts and misunderstandings.

42. Proton is the national carmaker of Malaysia. A(n) _____ with Volkswagen had been seen as vital to
the survival of the company. VW promised to provide technical help in improving the quality of
Proton cars, to add VW models to Proton’s product line, and to assist with expanding Proton’s small
export market. In return, VW sought a degree of management control that found little favor with the
Malaysian government that owns Proton.
a. exporting license
b. cooperative contract
c. franchisee agreement
d. strategic alliance
e. indirect investment
ANS: D
A strategic alliance is an agreement in which companies combine key resources, costs, risks,
technology, and people.

KEY: Strategy | Environmental Influence
43. A ____ is a strategic alliance in which two existing companies collaborate to form a third, independent
company.
a. joint venture
b. franchise
c. wholly owned affiliate
d. global new venture
e. cooperative contract
ANS: A PTS: 1 DIF: Moderate REF: 310
44. Which of the following forms of organizing a global business help companies to avoid tariff and
nontariff barriers to entry of a given foreign market?
a. licensing
b. franchising
c. global joint ventures
d. wholly owned affiliates
e. all of these
ANS: E
Each of these forms involves situating operations and management within a foreign country. The
franchisee, licensee, foreign venture partner, or management of foreign subsidiary typically benefit
from some tariff/nontariff relief over what a multinational exporter would face.
PTS: 1 DIF: Difficult REF: 310 TOP: AACSB Reflective Thinking

45. In Canada, General Motors and Suzuki entered into a ____ to create CAMI Automotive. Suzuki
management ran the plant, which made GM’s Geo cars. The agreement gave Suzuki access to GM
dealers to sell its brand of vehicles.
a. licensing agreement
b. subsidiary arrangement
d. exporting agency
e. joint venture
ANS: E
An example of a joint venture would be two existing firms pooling resources to launch and support a
third, independent venture.

46. German chip manufacturer Infineon AG joined with Motorola Inc. and Agere Systems Inc. to establish
a new company to develop and license chip designs for cell phones. These three companies created a:
a. license facilitator
b. subsidized corporation
c. global new venture
d. joint venture
e. export merchant
ANS: D
A joint venture is a strategic alliance in which two existing companies collaborate to form a third
independent company.

47. Ford Motor Company owns and operates a $1.9 billion manufacturing plant in Brazil. What method of
organizing for global business has Ford used in this example?
a. joint venture
b. strategic alliance
d. wholly owned affiliate
e. strategic franchise
ANS: D
A wholly owned affiliate is defined as foreign offices, facilities and manufacturing plants that are
owned by the parent company.

48. The primary disadvantage of using wholly owned affiliates as the means of entering a foreign market
is:
a. dumping
b. countertrading
c. nontariff barriers
d. acculturation
e. costs
ANS: E
The wholly owned affiliate is typically the most expensive form of global market entry.

49. Which of the following is a trend that has allowed companies to skip the phase model when going
global?
a. quick, reliable air travel
b. the globalization of the cocooning trend
c. a critical mass of resources
d. the metamorphosis of marketplaces
e. all of these
ANS: A
Three factors are identified as supporting the emergence of global new ventures: 1) quick, reliable air
travel; 2) low-cost communication technologies; and 3) critical mass of business people with extensive
international business experience.

50. New companies with sales, employees, and financing in different countries that are founded with an
active global strategy are called:
a. global new ventures
b. strategic alliances
c. wholly-owned affiliates
d. franchisees
e. subsidized corporations
ANS: A PTS: 1 DIF: Moderate REF: 312
51. A country or region that has an attractive business climate for companies that want to go global has:
a. easy access to growing markets
b. experienced marketplace metamorphosis
c. eliminated all political risks
d. a limited infrastructure
e. all of these
ANS: A
Three attributes that contribute to an attractive business climate are identified as: 1) easy access to
growing markets; 2) cost-efficient location; and 3) lower level of political risk.

52. A country or region that has an attractive business climate for companies that want to go global has:
a. a large population of unskilled workers
b. an effective but cost-efficient place to build an office or manufacturing site
c. a small youth population
d. natural boundaries
e. all of these
ANS: B
Three attributes that contribute to an attractive business climate are identified as: 1) easy access to
growing markets; 2) cost-efficient location; and 3) lower level of political risk.
PTS: 1 DIF: Easy REF: 314 TOP: AACSB Reflective Thinking

53. The most important factor used by a globalizing company for determining if a country or a region has
an attractive business climate is:
a. easy access to growing markets
b. marketplace metamorphosis
c. global synergy
d. a large, unskilled workforce
e. natural boundaries
ANS: A
None of the other market factors can “compensate” for a lack of access or poor market potential.

54. In the past decade, purchasing power has doubled, and poverty has been halved in Vietnam, making
the nation:
a. a good choice for companies looking for attractive global markets
b. a potential target for nationalization activities
c. a less-than-desirable choice for companies looking for new global markets
d. a source of Asian protectionism
e. a country that has eliminated all tariff barriers
ANS: A
Countries with high and growing levels of purchasing power are good choices for global expansion.

KEY: Environmental Influence | Creation of Value
55. Which of the following factors helps a company determine the growth potential of a foreign market?
a. political uncertainty
b. purchasing power
c. type of infrastructure
d. land availability
e. natural boundaries
ANS: B
Purchasing power is defined as a comparison of the relative cost of a standard set of goods and
services in different countries. The growth potential of a given market is determined by its purchasing
power and the strength of foreign competitors. Markets are most attractive when they have solid and
growing purchasing power and relatively weak existing competition.

56. A cosmetics company that is considering entering the South American market would be especially
interested in the discretionary income within that country. In other words, ____ would be a
determining factor in its global strategy.
a. purchasing power
b. political uncertainty
c. expropriation potential
d. infrastructure
e. sociocultural trends
ANS: A
Purchasing power is defined as a comparison of the relative cost of a standard set of goods and
services in different countries. Discretionary income is that portion of purchasing power above and
beyond income required to meet basic living expenses (i.e., “spending money”).

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XXXIX
Godfrey and Muriel walked below the heavy elm trees. This part
of the garden was deserted, but from far off, through the
enshrouding greenery, came vagrant echoes of tunes played by the
band. So thick was the cool, deep gloom of the great trees, that only
here and there a golden point of sunlight fell on the shadowed path,
and lay quivering as the dark leaves stirred.
They did not speak. A rabbit scuttled across the drive, bobbing
suddenly below the tangled bramble sprays. Above in the elms a
dove cooed sleepily, with all the warmth of drowsy summer in its call.
The path was smooth, with small rounded pebbles sunk into the
moss, and on each side the deep, dark grasses tangled round tall
spears of willow herb, of sombre undergrowth, of hedges foaming
cream with old man's beard.
At a turn of the avenue they came to a space where the trees to
their right were cut away.
"I want you to see this," said Godfrey.
Beyond the low hedge, beyond two fields of the wide grassland
where Connie had once ridden, stretched the long terraces of the
Weare Grange. The house itself crowned them, grey and beautiful,
looking down upon the coloured throng of people in the garden.
Blue, white and pink, like shifting, wind-blown petals, the dresses of
Marshington girls moved on the green. Clearer along the breeze
came fitful gusts of music. Hidden by half a mile of winding avenue,
the two looked back together on it now.
"It's singularly beautiful," said Muriel quietly.
"You t—think so? I'm glad. You don't think it's all rot?"
"What is rot?"
"Liking the old place and all that."
She shook her head. "Of course I don't. Who could? I think that it
is a beautiful place. You're a lucky man in many ways, Godfrey. You
have power and privilege and a tremendous influence." She looked
as though she would have said more, then stopped and just stood,
gazing towards the house.
"I suppose I have," he said. "I don't know that I'd thought about it
quite like that. It gets into your blood though, doesn't it? By Jove, you
know—the shooting down here is worth living for. Now do you see
those bullocks there, in the far pasture? They're Jerseys—I'm
breeding them as an experiment. M—Maddock, my agent, says
they're the best of anything he's seen of the sort."
"Does he?"
"And you know, we're starting the Witchgate hounds again this
autumn? I've been fixing it up with young Seton and Colonel
Macallister. Seton'll be Master I think—in place of his brother. Rotten
luck young Seton being killed. No son either. Do you know, Muriel,
there were times during the war when I used to get the idea that I
might never come back to it, and I used to lie awake at night and
sweat with fear?"
"I do believe it."
"It gets you, you know. It gets you. There's not an acre that I don't
know in Weare or Mardlehammar. Jolly good lot of tenants too. Have
you ever met Willis of Ringpool Farm?—that's on the Mardlehammar
land. Fine chap Willis, and brainy, too. You'd like him."
Again they were silent, watching the little Jersey cows in the far
pasture, golden, like browsing flowers under the warm sunlight.
"You know," he went on, "you were right that evening in London.
By Jove, you were. Clare could never have understood this. You've
got to have a wife that understands. I was pretty well knocked down
then, but I'm glad now."
He paused as though thinking this over.
"I'm glad it happened," he repeated solemnly, "the whole thing I
mean. I wouldn't want not to have known her—except for one thing."
"What's that?" asked Muriel.
She turned to look at him, and below the broad brim of her
charming hat her face was grave and sweet.
"Look here, Muriel, if I wanted a girl to marry me, would she mind
that I had given Clare something—something I'll never have to give
again?"
"Most girls wouldn't," Muriel said solemnly. "Very few women
marry the man whom they first loved. Very few men marry the girl
who first attracted them. When they do, those marriages don't seem
to be the happiest."
He sighed with a great relief. "You really think so?"
"Yes."
Again they paused. So quietly they stood that a squirrel rattled
nimbly down the tree beside them and flashed across the path. Then
Godfrey spoke again, stammering badly, but smiling down at Muriel:
"Muriel, with everything that I didn't give to Clare, I love you. Will
you marry me?"
She did not speak.
"I know," he went on, "that you know all about me. I've told you
about Clare. But I shan't love her again. Anyway she's going to
marry that fellow from Austria. That's all quite over. And I believe that
all the time, if I hadn't been a fool, I should have wanted you. You
understand me better than anyone, and I don't believe that you're the
kind of girl who'd want a fellow so much to love her that way—you're
too sensible."
Still she did not speak, but smoothed with her soft fingers a broad
leaf of the climbing hop plant that spread twisting green tendrils
across the hedge before them.
"Don't hurry," he said magnanimously, "take your time and think it
over. I'd be good to you. I swear I'd be good to you—little Muriel."
His voice was assured, but it was very kind. His clear blue eyes
were honest. More handsome than ever was his lean brown face
bent above her.
"I don't think that you dislike me—somehow. Couldn't you find it
possible to care?"
She lifted her candid eyes to his. "Once I thought that I loved you
very much, Godfrey. When I was a little girl, before I ever went to
school, I once danced with you at a party. I was very shy, and rather
left out of things, and you only were kind to me. I think I fell in love
with you then. You seemed to me the true ideal of manhood."
"Did I?" His blue eyes softened tenderly.
"And afterwards, when I lived in Marshington, we played together
at the tennis club the very first time I played."
"Did we really?"
She nodded. "That was Delia's doing. She wasn't thinking about
you or me, but only about getting her own back on some other
people. You were the king, the wonderful one. I hardly dared to play
with you. I was a funny child in those days. I thought a lot of queer
mistaken things. I made a sort of hero of you, Godfrey."
"You silly child," he said, but she could see how much his pride
was loving it.
"I came home from school meaning to do such a lot of things.
Every one was wonderful. The world was full, brimming with
adventure. I meant to be so good."
He nodded. "I'll swear you did."
He would have caught at her small ungloved hands, but she put
them behind her back and stood looking up at him, like a child saying
its lesson.
"My head was full of dreams about love and service. I wanted to
be wise and unselfish and to serve God. I gave up the idea of going
to college or anywhere to train for working in the world outside,
because I thought that Mother needed me."
He nodded, a little puzzled that she should consider this long
preamble necessary; but liking her more and more for her solemnity.
It seemed to him very sweet that she should tell him all her girlish
hopes.
"I threw myself into the life of Marshington, meaning to give to it
and to get from it only the best. I wanted to give it all of me, my
intelligence, and my love, and my desire to serve. I began to go to
parties and picnics and the tennis club. But, do you know, the things
here weren't quite what I had expected? People did not seem to
want me frightfully; I wasn't pretty—I was rather shy. I didn't
understand the teasing and the jokes and the way that the other girls
behaved. People began to avoid me. I remember a picnic once,
when I walked for all the afternoon with Bobby Mason, because I
was so terrified of being left behind"—she swallowed hard, but went
on steadily—"without a man to walk with. I had not been at home for
more than a year when I found that only one thing mattered here in
Marshington for a girl, and that was to get married."
He was frowning a little now. Those things perhaps were true, but
somehow he did not like his future wife to say them. She, however,
continued to disregard his feelings.
"It took me about six years to discover that I was not the sort of
girl whom men wanted to marry. Other girls found partners at dances
easily. I sat against the wall, shivering lest every one should see that
I was a wallflower, feeling terribly ashamed because to fail in this
way was to fail everywhere. I used to think of life as a dance, where
the girls had to wait for men to ask them, and if nobody came—they
still must wait, smiling and hoping and pretending not to mind. One
by one the things that I cared for fell away. Music, mathematics,
beautiful things to look at—none of these mattered. They were only
quite irrelevant details, because at Marshington there was only one
thing that mattered and I had not got it."
He was about to protest, but she silenced him:
"No, no. It's no use saying that it wasn't so. Try to cast your mind
back. Can't you remember 'poor Muriel Hammond'—she and Rosie
Harpur—the 'heavy' people at the dances whom the nicer men would
try to be polite to? Why, you used to be kind to me yourself. You
always came and asked me for a waltz when we went to the same
dance. I used to stand and watch your programme pencil
breathlessly. Would you give me one dance, or two? You never
thought that it mattered as much as that, did you, Godfrey?"
He shook his head.
"It mattered everything. Or rather I thought it did. Do you
remember the day of the bombardment of Scarborough? And after
the bombardment, in my aunt's house?"
Her face was flooded now with glowing colour, but she spoke on,
in her small even voice:
"You kissed me. Perhaps you had forgotten. These things pass
easily, don't they? When a man kisses a plain girl. It was kind of you.
I expect that you thought I should be pleased and flattered." She
paused. "I was pleased."
He made a gesture of protest.
Far away down the park a little burst of cheering rose into the
silence and died down. They were beginning the sports that were to
be the final entertainment of the fête.
"I was pleased," said Muriel. "I thought of nothing else by day or
night. You had kissed me. You, who were the ideal, the prince, of all
that Marshington thought splendid. I thought at first, daringly, that it
might mean that you could come to care for me, to marry me, to take
away from me the reproach of failure. I knew about Clare of course,
but I thought her married, and that you had decided that she was
quite impossible. I used to grow sick, waiting for the posts. I would lie
awake half the night, thinking that a letter might come in the morning.
And half the day I would have a pain here, in my side, with the
feeling that a letter might come by the afternoon's post. You never
wrote. I heard that Clare had come to England. Then, one night at a
concert, your mother told me that you were engaged."
"I didn't know," he cried, really remorseful.
"Of course you did not know. I remember that. But, oh, I knew. I
don't know what became of me. I think that I fell into a sort of stupor,
thinking of all that I had thrown away to follow this, and in the end to
fail."
Her voice died away. The aching pain of those past days had left
her, but it was not easy to recall them now.
"There's something else," she almost whispered. "Something that
I can't tell you much about because it's not my story. I was made to
see—the Marshington way—carried to its logical conclusion. Girls do
not always wait to be asked. Instinct, you see, is on the side of the
tradition. In every woman there must be so much nature—of her
womanhood. Take from her all other outlet for vitality; strip her of her
other interests, and in some cases the instinct, reinforced by social
influence, breaks down her control. I had to stand by helpless and
watch—somebody else—come to complete ruin. And just because I
had believed what people once had told me, because I had accepted
Marshington standards without question, I found myself quite
powerless to help. Indeed, I even made things worse, far worse. I
think that I went almost mad then. My mind had a kind of shock——
You see, there was nothing left. Even mother—belonged to the
things that had failed me. Nothing had happened. People, knowing
my life, would have said that I had never known great sorrow. There
was just nothing.
"If it hadn't been for Delia, I should have died—not with my body,
but my mind. She could not give me back the things that I had lost.
She took me away instead. She let me see, not that the thing that I
had sought was not worth seeking, but simply that there were other
things in life. To fail just in this one thing was not failure. A perfect
marriage is a splendid thing, but that does not mean that the second
best thing is an imperfect marriage."
"I know," he said. "I know. Look here, I'm sorry, Muriel. I'd no idea
what a rotten time you'd had. But now, forget it. We'll make our
marriage perfect."
"Dear Godfrey," said Muriel, "if you'd asked me to marry you any
time during the past twelve years until last winter, I would have
married you, without hesitation. And we should both have made a
great mistake."
"No, no," he said, "not we."
"Oh, yes, we should. That time you came to me in London—I'd
never seen you before—only a sort of legend of my dreams. You're a
dear, Godfrey. I like you immensely. And you'll make some wife very
happy yet—but not me——"
"But why on earth?"
"Because—of—every reason. It's too late."
"Do you care for someone else?" he asked sharply.
"No. Not that way. Please, I want you to understand." She smiled
suddenly. "This isn't a devastating experience, you know. You like
me, but not more than you could like lots of women."
"That's not true."
"Oh, yes, it is. You'd like to marry what you think is me—what I
was, but that's not what I am. I'm only sparing you the pain of
discovering too late that I'm an uncomfortable person to have
married. To begin with, Godfrey dear, I can't stand Marshington. The
Weare Grange is a heavenly place, and Delia tells me that there are
prospects of regeneration for Marshington. She believes that the
Twentieth Century Reform League is going to remedy its faults. I
don't know. It may do. But not for me. It's cost me too much. I'm too
near the shadow of its influence. I should slip back to it."
"But why——?"
"Why shouldn't it? Because I'm—myself, that's all. I found that out
in London. I've actually got tastes and inclinations and a personality.
And they're all things that you would disapprove of immensely. Oh,
yes, you would. You want a good wife, Godfrey, someone who'd be
the hostess of shooting-parties, who'd listen to your hunting stories,
and who'd be interested in your tenants. You'd want somebody who
would be satisfied by your possessions and by your prestige, and
whose goal in life would be to make you comfortable. Clare wouldn't
have done that. In one way, it's a pity you didn't marry her. You'd
have been miserable, and she'd have broken away, but it might have
been better for you. As it is—it's too late, Godfrey. Some day
perhaps, I may marry, but it won't be you. I once was in love with
you, but I don't love you. Your interests are not my interests—we
haven't a taste in common.
"I'm going back to London. I'll go to-morrow. I'm learning there a
lot of things and it hasn't done with me yet. Delia mayn't want me
always. Probably she's going to America soon anyway. It isn't that.
I've got an idea—I don't know how to express it—that I think I've
always had in my head somewhere. An idea of service—not just
vague and sentimental, but translated into quite practical things.
Maybe I'll do nothing with it, but I do know this, that if I married you
I'd have to give up every new thing that has made me a person."
"You wouldn't."
"Oh, yes, I would. Can't you just picture us, Godfrey? You, the
typical country squire. I, the epitome of all Marshington virtues."
He frowned at her. He was a little sad, a little hurt, a little
disappointed. She knew that he was not heart-broken.
"I can't be a good wife until I've learnt to be a person," said
Muriel, "and perhaps in the end I'll never be a wife at all. That's very
possible. But it doesn't matter. The thing that matters is to take your
life into your hands and live it, following the highest vision as you see
it. If I married you, I'd simply be following the expedient promptings
of my mother and my upbringing. Do you see?"
"I don't see. It's all that London nonsense. It's Delia. It's——"
"No it isn't. It's Muriel—at last. You see, when she's really there,
you don't much like her. Godfrey dear, how could we live together?
We'd quarrel from the first."
"You said that you might marry—one day——"
"Who knows? But it won't be you. Why, you'll be married long
before."
A little breeze blew along the avenue. Muriel shivered.
"I think we'd better go. I've talked too long. There's nothing else
to say. Don't be more angry with me than you can help. We've both
been honest with each other."
"Yes—— We've been honest."
He liked that. She felt his eyes straying again towards the open
vista, to the fields where now long shadows stretched across the
gilded grass, to the crowded terraces, to the grey house. He would
find comfort there for whatever soreness she had left with him.
"I'll go," she said. "And—very good luck to you, Godfrey."
Shyly she held out her hand.
He frowned. For a moment his wounded pride withheld him, but
she looked so very small and powerless before his height, his
strength, and his position. His smile came suddenly and he took her
hand.
"By Jove," he said, "I'm only just beginning to realize what I've
missed."
He stood, holding her small hand, under the arching elms.
"You won't remember long. And, when you do, you'll be glad that
I did not marry you."
He shook his head. She broke from him and walked quickly away
along the drive. Chequered sunlight and shadow fell on her small,
upright figure. She moved steadily forward, not looking back at him.
As he watched her go, an expression of tenderness, compassion
and regret crossed his face. He sighed a little. Perhaps she was
right. A wife with ideas? How queer women were! It always seemed
as though he, who knew himself to be sought after, only wanted what
he could never gain. He felt older and a little weary. Certainly it
would be good to go where he was wanted, to have his vanity
soothed by a simple, loving woman who would accept him as he
was.
Queer little thing, Muriel. If he had known what she was like,
would he have spoken? After all, perhaps it had been an escape.
With a sigh he turned again towards the house. Far away, on the
high terrace, fluttered the rose-pink dress of Phyllis Marshall Gurney.
THE END
BY THE SAME AUTHOR
ANDERBY WOLD
Crown 8vo. 7s. 6d. net.
A Yorkshire novel of great power written by a well-known
Yorkshire lady who is well versed in the idiosyncrasy of the rural
inhabitants of that delightful country.
Morning Post.—"An excellent story. . . . These Yorkshire folk

are drawn with skill, each having individuality. Miss Holtby gives
plenty of evidence in her first novel that she has the gift of
narrative."
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Yorkshire is certainly one of the best 'first novels' which we have
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simpler material with the power that comes of genuine insight
and sincerity. For a first novel 'Anderby Wold' is a notable
achievement."
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If that be so, one can congratulate Miss Holtby on a degree of
mastery over her material, and a knowledge of how to present
it, that are rare even in the hands of much more practised
writers."
Times Literary Supplement.—"Interesting in many ways."

Westminster Gazette.—"All North Country folk will enjoy this
well-written story."
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story of great truth and unflagging interest."
Manchester Guardian.—"An extremely interesting first novel.

The whole book shows a careful workmanship rare in a first
novel."
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Management 7th Edition Chuck

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ANS: T PTS: 1 DIF: Easy REF: 296

PTS: 1 DIF: Moderate REF: 298

ANS: T PTS: 1 DIF: Easy REF: 298

ANS: T PTS: 1 DIF: Easy REF: 297

PTS: 1 DIF: Moderate REF: 298 TOP: AACSB Analytic

PTS: 1 DIF: Moderate REF: 298

ANS: T PTS: 1 DIF: Easy REF: 298

PTS: 1 DIF: Difficult REF: 299 TOP: AACSB Analytic

ANS: T PTS: 1 DIF: Easy REF: 301

PTS: 1 DIF: Easy REF: 302

11. In a multinational company, managers at company headquarters value global consistency as a

ANS: T PTS: 1 DIF: Easy REF: 305

ANS: T PTS: 1 DIF: Difficult REF: 300

PTS: 1 DIF: Moderate REF: 304 TOP: AACSB Analytic

ANS: T PTS: 1 DIF: Moderate REF: 304

ANS: T PTS: 1 DIF: Easy REF: 306

PTS: 1 DIF: Moderate REF: 306

PTS: 1 DIF: Moderate REF: 306

ANS: F PTS: 1 DIF: Moderate REF: 308

ANS: T PTS: 1 DIF: Easy REF: 307

ANS: T PTS: 1 DIF: Moderate REF: 308

PTS: 1 DIF: Moderate REF: 310 TOP: AACSB Analytic

PTS: 1 DIF: Difficult REF: 310 TOP: AACSB Analytic

ANS: T PTS: 1 DIF: Difficult REF: 310

ANS: T PTS: 1 DIF: Easy REF: 311

ANS: T PTS: 1 DIF: Easy REF: 312

ANS: T PTS: 1 DIF: Moderate REF: 313

ANS: T PTS: 1 DIF: Moderate REF: 314

PTS: 1 DIF: Difficult REF: 315 TOP: AACSB Analytic

ANS: T PTS: 1 DIF: Moderate REF: 317-318

PTS: 1 DIF: Moderate REF: 317 TOP: AACSB Analytic

ANS: T PTS: 1 DIF: Moderate REF: 320

PTS: 1 DIF: Moderate REF: 319 TOP: AACSB Diversity

PTS: 1 DIF: Easy REF: 321 TOP: AACSB Diversity

ANS: T PTS: 1 DIF: Moderate REF: 323

ANS: T PTS: 1 DIF: Moderate REF: 324

PTS: 1 DIF: Moderate REF: 296 TOP: AACSB Analytic

PTS: 1 DIF: Easy REF: 297 TOP: AACSB Analytic

PTS: 1 DIF: Moderate REF: 298

6. The two general kinds of trade barriers are:

PTS: 1 DIF: Moderate REF: 298 TOP: AACSB Analytic

PTS: 1 DIF: Moderate REF: 299 TOP: AACSB Analytic

PTS: 1 DIF: Easy REF: 299

PTS: 1 DIF: Easy REF: 299

PTS: 1 DIF: Difficult REF: 299

PTS: 1 DIF: Moderate REF: 299

PTS: 1 DIF: Moderate REF: 300 TOP: AACSB Analytic

19. The signing of the ____ created a regional trading zone.

PTS: 1 DIF: Moderate REF: 301 TOP: AACSB Analytic

20. The General Agreement on Tariffs and Trade (GATT):

PTS: 1 DIF: Moderate REF: 305 TOP: AACSB Analytic

PTS: 1 DIF: Easy REF: 305-306 TOP: AACSB Analytic

PTS: 1 DIF: Moderate REF: 306 TOP: AACSB Analytic

PTS: 1 DIF: Easy REF: 306 TOP: AACSB Analytic