BUSN
427 Final Exam 100% Correct Answers
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1. Question : (TCO 1) What
organization was protested in Seattle in 1999?
2. Question : (TCO 2) According to
Francis Fukuyama, the collapse of communism in eastern Europe was followed by
which of the following?
3. Question : (TCO 3) Which language
is most widely spoken throughout the world?
4. Question : (TCO 3) Which theory
deals with competitive advantage for countries?
5. Question : (TCO 4) In the last 30
years, the world economy has seen
6. Question : (TCO 5) Chile is
included in which of the following regional integrations organizations?
7. Question : (TCO 6) When a firm
engages in hedging it is
1. Question : (TCO 8) What are the
three staffing policies available to a multinational corporation?
2. Question : (TCO 8) In distribution
strategy, what are the four main differences between countries?
3. Question : (TCO 3) India’s caste
system has been around for many years. Explain why its influence has diminished
among educated urban middle class Indians.
4. Question : (TCO 3) In 2006, two
Chinese journalists reported that the working conditions at Hongfujin Precision
Industries where Apple’s iPods are produced were substandard. According to the
report, not only were workers at the plant poorly paid, but they were also forced
to work overtime. Apple immediately responded to the allegations and audited
the factory in question. However, managers at the factory filed a defamation
lawsuit against the two journalists. Despite the fact that Apple’s audit did
indeed show substandard working conditions at the factory, Hongfujin did not
withdraw the lawsuit. Eventually the Reporters Without Borders group took up
the case for the two reporters and the lawsuit was dropped. The allegations
against Hongfujin Precision Industries were made by two Chinese reporters.
Discuss the implications of this for other Chinese companies.
5. Question : (TCO 3) Exports are
largely responsible for China’s recent rapid economic growth. The country,
capitalizing on its cheap labor force, has focused on converting raw materials
into products that are exported to developed countries such as the United
States. In 2008, China’s trade surplus was a record $280 billion, and its
holdings of foreign exchange reserves were over $1.95 trillion. Some critics have
suggested that China is following a neomercantilist policy. Are the claims that
China is following a neomercantilist policy valid? Why or why not?
6. Question : (TCO 4) Telefonica is
a Spanish telecommunications firm. For decades, Telefonica had operated as a
typical state-owned enterprise, but privatization and deregulation changed that
path in the 1990s. Telefonica began to aggressively pursue expansion
opportunities in Latin America where it quickly became the number one or two
player in nearly every country. Later, Telefonica turned its sights on Europe
where its acquisitions helped transform the company into the second biggest
mobile phone operator in the world. What changes in political and economic
environment allowed Telefoncia to start expanding globally? Why did Telefonica
initially focus on Latin America? Why was it slower to expand in Europe even
though Spain is a member of the European Union?
7. Question : (TCO 7) Why did the
world shift from a gold standard to fixed exchange rates?
1. Question : (TCO 5) Concerning
European Union’s progress toward creating a single financial market, the quest
started in 1999 was to have been completed by 2005, however, progress has been
slowed by various factors related to the tradition of each member country
operating autonomously. By 2007, significant progress had been made. Some 41
measures designed to create a single market were in place and others were in
the pipeline. The current issue facing the EU revolves around the enforcement
of the rules that have been established as law. Some experts believe that it
will be at least another decade before the benefits of the new rules become
apparent. Discussion of this feature can begin with the following questions.
What are the benefits of creating a single financial market in the European
Union for companies? Does it make sense for consumers?
2. Question : (TCO 6) In the 1980s,
Caterpillar was negatively affected by a strong dollar and lost significant
market share to Japanese competitor Komatsu. The situation prompted Caterpillar
to revise its global strategy and by the 2000s, the company was in a much
better position to deal with volatile currency values. More recently, a strong
dollar has actually helped boost Caterpillar’s bottom line. In the 1980s, a stronger
dollar hurt Caterpillar’s competitive position, but in 2008 a stronger dollar
did not seem to have the same effect. What had changed?
3. Question : (TCO 7) In May 2001,
the IMF agreed to lend $8 billion to Turkey to help stabilize its economy and
halt a sharp slide in the value of its currency. Although initially the Turkish
government resisted IMF mandates on economic policy, in 2003 the government
passed an austerity budget. By 2005, significant progress had been made and
today, the country appears to be on track for recovery, with lower inflation
rates, an increase in privatization, and a budget surplus. What led to Turkey’s
financial crisis? What goals did the IMF establish as part of the loan
agreement?
4. Question : (TCO 8) MD
International is an export intermediary for U.S. medical equipment
manufacturers. The company has been able to capitalize on falling trade
barriers, as well as expand healthcare programs in the Latin American region.
MD International currently represents more than 30 companies and sells to some
600 regional distributors. How does an intermediary such as MD International
create value for the manufacturers who use it to sell medical equipment in
foreign markets? Why do they want to use MD International rather than export directly
themselves?
5. Question : (TCO 8) Boeing made
the decision to outsource much of the production of the 787 in the hopes of
significantly reducing the time to get the
product to market. Boeing also
anticipated that its outsourcing strategy would allow it to generate additional
sales from the countries that were partners in the process and reduce its costs
and risks. Although Boeing’s strategy worked for some components, for other
parts the strategy was a disaster. Suppliers were late and some produced poor-quality
parts, forcing Boeing to commit additional resources to the project. What are
the benefits to Boeing of outsourcing so much work on the 787 to foreign
suppliers? What are the potential risks? Do the benefits outweigh the risks?
6. Question : (TCO 8) By 2015, Ford
hopes to compete in North America, Europe, and Asia by offering several global
models including the Fiesta, the Fusion, and the Mondeo. The company, which
refers to its new strategy as One Ford, anticipates that its global models will
share the same components and looks and be positioned in a similar way in each
market in which they are sold. What is behind Ford’s One Ford vision? What is
the company hoping to accomplish with this strategy?
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