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Introduction to Business Dersi 2. Ünite Sorularla Öğrenelim

Business İn The Global Context

1. Soru

What does balance of trade (BOT) stand for?

Cevap

Balance of trade (BOT) is the difference between a country’s imports and its exports for a given time period.


2. Soru

In what way does culture affect managers?

Cevap

Culture can affect how managers lead, hire, and compete in various countries.


3. Soru

When did globalization begin?

Cevap

Globalization began with the tendency of first industrial firms to market their  goods to other countries during the late 19th century.


4. Soru

What do we mean by tariffs?

Cevap

Taxes, surcharges, or duties arranged against imported goods are known as tariffs.


5. Soru

What are the critical success factors for MNCs?

Cevap

• Entering into complex markets to gain new knowledge.
• Recognition and reputation.
• Key strategic partnerships.


6. Soru

What does glocalization stand for?

Cevap

Glocalization is a kind of synthesis between globalization and local responsiveness.


7. Soru

What is the strategic choice for a global strategy?

Cevap

The strategic choice for a global strategy is to employ essentially the same strategy in all countries.


8. Soru

What does the theory of international trade suggest?

Cevap

The theory of international trade suggests that increasing number of countries participating in international trade serves to socio-economic expansion of these countries.


9. Soru

What do ethical values represent?

Cevap

Ethical values are individuals’ moral judgments about what is right or wrong.


10. Soru

What does import substitution refer to?

Cevap

Import substitution is an economic policy which defends replacing foreign imports with domestic products.


11. Soru

What is the benefit of adopting the liberal reform policies for Turkey?

Cevap

It has enabled global trade relations and flow of foreign investments into the country.


12. Soru

What are the meanings of trade surplus and trade deficit?

Cevap

A country that exports more than it imports has a trade surplus. On the contrary, if a country imports more than it exports has a trade deficit.


13. Soru

When were the liberal reform policies adopted in Turkey?

Cevap

The liberal reform policies in Turkey were adopted after 1980.


14. Soru

What is the purpose of corporate social responsibility (CSR) projects?

Cevap

Corporate social responsibility (CSR) projects are a way of building recognition and reputation in a foreign country. It is important to seek for a trustworthy, legitimate, established, and a powerful partner in the target country.


15. Soru

In what way can we say that there is not a strict distinction between national and international competition today?

Cevap

It is not so meaningful to think about a strict distinction between national and international competition in today’s global economy. A local entrepreneur who owns a small market may anytime face with competitive pressures of international retail chains. There are important facts that should be considered by an organization, which has an intention to compete in international markets: size and production capacity are some of these factors.


16. Soru

In what way does globalization differ than the internationalization process?

Cevap

Globalization differs than the internationalization process which is basically operating across national borders.


17. Soru

What does cultural relativism refer to?

Cevap

Cultural relativism refers to the approach that a country’s own unique culture, laws, and business practices determine ethical behavior in a country.


18. Soru

What does international competition refers to?

Cevap

International competition refers to a complex network of multiple types of relations and interactions.


19. Soru

What does economies of scale stand for?

Cevap

Economies of scale is the cost advantage that arises with increased output of a product.


20. Soru

What do we mean by emerging markets?

Cevap

Emerging markets are the transition economies such as Brazil, Russia, India, Mexico, Nigeria, and Turkey that are characterized by high levels of growth despite insufficient infrastructure.


21. Soru

What does exchange rate mean?

Cevap

Exchange rate is the number of units of one currency that must be exchanged for a unit of the second currency.


22. Soru

What does a multinational corporation (MNC) stand for?

Cevap

A multinational corporation (MNC) is an organizational form, which has operations in more than two countries, and it consists of a central firm – usually in the home country- and branches or subsidiaries in foreign countries.


23. Soru

What are the basic contributions of global business operations to a firm’s competitiveness?

Cevap

The basic contributions of global business operations to a firm’s competitiveness are; cost reduction, spread of risk across wider environments, to capitalize core competencies, access to new customers, and valuable natural resources.


24. Soru

What are the purposes of strategic alliances?

Cevap

Purposes of strategic alliances are: joint research efforts, sharing technology; joint use of production on distribution facilities; and marketing one another’s products and services.


25. Soru

Which strategy options are frequently used to compete in foreign markets?

Cevap

Following strategy options are frequently used to compete in foreign markets:
• Exporting
• Licensing
• Franchising
• Global Strategy


26. Soru

 What are the issues that need to be considered in multinational competition?

Cevap

1. Whether to customize products or services in each local market or offer standardized products/ services.
2. Whether to employ the same generic competitive strategy everywhere or modify the strategy for each country.
3. Whether to locate a company’s facilities, distribution centers, and customer services operations for location advantages.
4. How to transfer a company’s resource strengths and capabilities among countries to secure competitive advantage.


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