BUSI 303 Exam 2 Latest, A+ Grade Verified.

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BUSI 303 Review Test Submission: Exam 2 Question 1 Two major contributing circumstances to the demise of the gold standard were the Great Depression and the Vietnam War. Question 2 Potential tax ... savings and managerial focus being drawn away from productivity to merger management are two advantages of mergers and acquisitions. 3 Potential tax savings and managerial focus being drawn away from productivity to merger management are two advantages of mergers and acquisitions. Question 3 A license is an agreement that allows one party to use an industrial property right in exchange for payment to the other party. The party giving the license is the licensee, while the party that gets to use the right is the licensor. Question 4 Trading blocs are the core elements of regional economic integration. . Question 5 Subsidies are special privileges that governments provide to businesses to attract them to a region or to have the required funds to operate successfully. Question 6 Many industrial firms choose to export for their first international entry mode. Selected Answer: True Question 7 In the U.S., the Federal Reserve Bank is responsible for regulating the growth of the economy. Question 8 The convergence of international and domestic pricing also indicates the era of the global producer. Question 9 The FX Market empowered United States banks to make equity investments in commercial ventures that qualify as export trading companies. Question 10 The initial goal of NAFTA was to increase investment and decrease tariffs between Mexico and the U.S. Question 11 Production related reasons seem to be relatively small motivational factors for domestic firms expand globally. Question 12 Firms must take into account the needs of the foreign market, the current economic trends, the political environment, and other important facts when timing their global expansion strategy. Question 13 Decisions to move domestic operations and products into the global marketplace include the desire to increase sales and profitability and cost reductions from full or partial operational relocation to a foreign nation. Question 14 When pursuing a mass customization strategy, demand for different features or options may be based on climate, culture, location, or personal preference. Question 15 The main difference between low intensity and high intensity entry modes depends on how much risk and/or control an entering business is willing to accept or forgo. . Question 16 A facilitator is an individual whose job it is to help manage an information exchange process. Question 17 Greenfield investments require only process adaptation, not product adaptation. . Question 18 The reasoning behind the layout design of a facility is to maximize the work environment for customers, employees, and the overall building. Question 19 Transferring current managers to run new foreign operations might not be the best strategy to pursue when expanding operations into global markets. Question 20 The progressive stages of economic integration in order of intensity are: Preferential Trade Areas, Custom Unions, Free Trade Areas, Common Markets, and EUs. Question 21 An Economic Union consists of several nations, each maintaining their own currency. Question 22 Some firms would rather remain domestic, but the nature of the market forces them to globalize operations to remain profitable. Question 23 OPEC was founded in 1960 in Baghdad. Seleted Answer: True Question 24 A key determinant in the facility location decision is the proximity the site has to the organization’s largest customer base and suppliers. Question 25 Continuity is an important aspect of the KANBAN cluster, which holds the distance between the supplier and the manufacturing hub as a key focus in the acquisition of raw materials. Question 26 Italy, Japan, and Turkey are all members of the OEDC. Question 27 The European Community established its Exchange Rate Mechanism (ERM) in1979 and formed the initial steps for the creation of a single European currency. Question 28 The SBA will provide prospective businessmen with “face to face” services at one of their approximately 73 regional offices located within the United States. Question 29 The World Bank was established to help finance economic development in poor, underdeveloped countries. Question 30 Capacity planning is used in operations management and is suggested, but not a necessity, to help companies facilitate successful operations. Question 31 Operations managers are concerned with every aspect of the production process, including key areas such as research and development, acquisition and distribution, inventory management, technology, transportation, manufacturing, and customer service. Question 32 The New York Stock Exchange itself does no business and keeps no record of transactions. Selected Answer: True Question 33 An ISO is, in actuality, a codification or assurance of quality and ISO is an internationally recognized certification system or process. Question 34 The Theory of Constraints (TOC) suggests that the greater gain will come from increasing total output from an entire process. Question 35 Also known as the Toyota Production System, JIT was initially developed after WWII when the Japanese car industry was lagging far behind its U.S. competitors. Question 36 The intent of forming a trading bloc can range from the potential of trade creation to the desire for economic protectionism. Question 37 Operations managers understand that developing relationships with their suppliers by investing in their organizations is considered an interlocking directorate and provides for the establishment of raw material design teams that consist of representatives from a company and its suppliers. Question 38 When formulating a strategic global market entry plan, business managers should focus on: identifying the most attractive foreign markets to the firm; determining the best time to enter the global market; and whether to enter a potential market utilizing a large or small scale strategy. Question 39 In a Free Trade Area, member nations are allowed to determine their own trade policies with non-members. Question 40 The intended outcome of regional economic integration is to promote economic prosperity and stability among signatory nations. [Show More]

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