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Study Guide YOU MAY WANT TO PRINT THIS GUIDE. 1.The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit For Grading button by then, you will be automatically exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, so you will not be able to copy exam questions or answers to or from other applications. 2.You should click the Save Answers button in the exam frequently. This helps prevent connection timeouts that might occur with certain Internet Service Providers and also minimizes lost answers in the event of connection problems. If your Internet connection does break, when you reconnect, you will normally be able to get back into your Final Exam without any trouble. Remember, though, that the exam timer continues to run while students are disconnected, so students should try to re-login as quickly as possible. The Help Desk cannot grant any student additional time on the exam. 3.See the Syllabus “Due Dates for Assignments & Exams” for due date information. 4. Reminders • You will only be able to enter your online Final Exam one time. • Click the Save Answers button often. • If you lose your Internet connection during your Final Exam, logon again and try to access your Final Exam. If you are unable to enter the Final Exam, first contact the Help Desk and then your instructor. • You will always be able to see the time remaining in the Final Exam at the top right of the page. 5. Assessments with Multiple Pages • Make sure you click the Save Answers button before advancing to the next page (we also suggest clicking on Save Answers while you are working). • Complete all of the pages before submitting your Final Exam for instructor review. • Do NOT use your browser’s Back and Forward buttons during the Final Exam. • Please use the provided links for navigation. • Pages can be completed in any order. You may go back and forth between the pages. 6. Submitting Your Final Exam • When you are finished with the Final Exam, click on the Submit for Grading button. • Please note: Once you click the Submit for Grading button, you will NOT be able to edit or change any of your answers. 7. Exam Questions • There are eight randomly selected multiplechoice questions each worth 5 points for a total of 40 points. • There are 12 randomly selected essay questions each worth 10, 20, or 30 points for a total of 260 points. • The Final Exam covers all course TCOs and Weeks 1-7. • The Final Exam questions are pooled. This means that not everyone will have the same questions. Even if you do have some of the same questions, they may not be in the same order. These questions are distributed amongst the TCOs. The entire exam is worth 300 points. • On the essay questions, your answers should be succinct, fully address each part of the question, and demonstrate your knowledge and understanding in a concise but complete answer.Most essay questions require answers that are a couple of paragraphs (not a couple of sentences) that directly speak to each part of the question. Some students opt to work on the essay questions first, because of their higher point value and length of time needed to adequately address each question, but this is entirely your choice. • Remember to always use proper citation when quoting other sources. This means that ANY borrowed material (even a short phrase) should be placed in quotation marks with the source (URL, author/date/page #) immediately following the end of the passage (the end quote). Changing a few words in a passage does NOT constitute putting it in your own words and proper citation is still required. Borrowed material should NOT dominate a student’s work, but should only be used sparingly to support your own thoughts, ideas, and examples. Heavy usage of borrowed material (even if properly cited) can jeopardize the points for that question. Uncited material can jeopardize a passing grade on the exam. As a part of our commitment to academic integrity, your work may be submitted to turnitin.com, an online plagiarism checking service. So please be VERY mindful of proper citation. • Essay questionsoften come from cases in the textbook, especially closing cases, so you may want to focus on these. 8. Some of the key study areas are below. While these are key areas, remember that the exam is comprehensive for all of the assigned course content and this study guide may not be all inclusive. • FDI • GATT-Purpose/Foundation • WTO- Purpose/Foundation • Pros/Cons Globalization • Collectivism/Individualism • Types of Economic Systems • Four Dominate Religions • Ethnocentrism • Adam Smith/Absolute Advantage • Comparative Advantage • Vernon’s Product Life Cycle Theory • First Mover Advantage • Porter’s Diamond of Competitive Advantage • Entry Strategies • Regional Economic Integration • Arbitrage • Factors that Influence Exchange Rates • Convertible/Non-Convertible Currency • IMF • TQM Philosophy • Culture • Free Trade Area • Foreign Exchange Transactions • Foreign Corrupt Practices Act • Counter Trade • NAFTA • MERCOSUR • Experience Curve • Economic Risks • Exchange Rate Market • World Bank (Real name) • Floating/Fixed Exchange Rates • Hofstede’s Four Dimensions • Economies of Scale • Four basic Global Strategies • Heckscher-Ohlin Theory • Pros/Cons of Alliances • Exporting vs. Set Up of Manufacturing, Licensing, Owning, Franchising, Turnkey • Purchasing Parity Power • Trade Creation/Trade Diversion • Strategies for Location Production Facilities • Countertrade • The Law of One Price • Differences in Distribution Systems • Push/Pull Communication Strategies • Manufacturing Location Variables • Multipoint Competition • Social Mobility • Expatriate, Failure Causes • Staffing Approaches for International Business • The Experience Curve 9. Reviewing the TCOs, which I have listed below for your convenience, will also be a great preparation for the Final Exam. 1 Given the description and the evolution of “Globalization” and its impact on job security, income levels, labor and environmental policies, and national sovereignty, understand how the process of globalization is giving rise to numerous business opportunities and challenges outside of the United States that business managers must identify and confront. 2 Given the differences between the political, economic, and legal systems that make up the cultural and social structure of different countries, determine the implications for business management – benefits, costs, and risks – associated with doing business in a foreign country. 3 Given the political and economic arguments for government intervention in international trade, review and evaluate the effectiveness of government’s policies on business practices across borders, and the important implications that international trade theory and ethics holds for business practice. 4 Given the evolution of “foreign direct investment” activities, identify the forces behind the rising tide of FDI in the world’s economy, and understand the policy instruments and political ideology governments can use to restrict and to encourage it. 5 Given the economic and political arguments for and against regional economic integration (EU, NAFTA, MERCOSUR), assess the implications for business that are inherent in regional economic integration agreements. 6 Given the nature of the foreign exchange markets, and the economic theories of exchange rate determination, evaluate the influence of exchange rates on the level of the profitability of trade and investment deals. 7 Given the historical development of the modern global monetary systems, and the key role played by the International Monetary Fund (IMF) and the World Bank (WB), understand the implications of the global monetary system for currency management and business strategy. 8 Given a business case, illustrate the importance of global expansion of U.S. businesses, and develop a Global Business Plan by incorporating the above TCOs. Be sure to include details explaining the issues surrounding your choice of: strategy, target markets, relationships and legal agreements, operations, human resources, and technology. Finally, if you have any questions for me, please post them to our Q&A or e-mail me. Good luck on the exam!

Study Guide

YOU MAY WANT TO PRINT THIS GUIDE.

1.The Final Exam is open book and open notes. The maximum time you can spend in the exam is 3 hours, 30 minutes. If you have not clicked the Submit For Grading button by then, you will be automatically exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, so you will not be able to copy exam questions or answers to or from other applications.

2.You should click the Save Answers button in the exam frequently.
This helps prevent connection timeouts that might occur with certain Internet Service Providers and also minimizes lost answers in the event of connection problems. If your Internet connection does break, when you reconnect, you will normally be able to get back into your Final Exam without any trouble. Remember, though, that the exam timer continues to run while students are disconnected, so students should try to re-login as quickly as possible. The Help Desk cannot grant any student additional time on the exam.

3.See the Syllabus “Due Dates for Assignments & Exams” for due date information.

4. Reminders

  • You will only be able to enter your online Final Exam one time.
  • Click the Save Answers button often.
  • If you lose your Internet connection during your Final Exam, logon again and try to access your Final Exam. If you are unable to enter the Final Exam, first contact the Help Desk and then your instructor.
  • You will always be able to see the time remaining in the Final Exam at the top right of the page.

5. Assessments with Multiple Pages

  • Make sure you click the Save Answers button before advancing to the next page (we also suggest clicking on Save Answers while you are working).
  • Complete all of the pages before submitting your Final Exam for instructor review.
  • Do NOT use your browser’s Back and Forward buttons during the Final Exam.
  • Please use the provided links for navigation.
  • Pages can be completed in any order. You may go back and forth between the pages.

6. Submitting Your Final Exam

  • When you are finished with the Final Exam, click on the Submit for Grading button.
  • Please note: Once you click the Submit for Grading button, you will NOT be able to edit or change any of your answers.

7. Exam Questions

  • There are eight randomly selected multiplechoice questions each worth 5 points for a total of 40 points.
  • There are 12 randomly selected essay questions each worth 10, 20, or 30 points for a total of 260 points.
  • The Final Exam covers all course TCOs and Weeks 1-7.
  • The Final Exam questions are pooled. This means that not everyone will have the same questions. Even if you do have some of the same questions, they may not be in the same order.  These questions are distributed amongst the TCOs. The entire exam is worth 300 points.
    • On the essay questions, your answers should be succinct, fully address each part of the question, and demonstrate your knowledge and understanding in a concise but complete answer.Most essay questions require answers that are a couple of paragraphs (not a couple of sentences) that directly speak to each part of the question. Some students opt to work on the essay questions first, because of their higher point value and length of time needed to adequately address each question, but this is entirely your choice.
    • Remember to always use proper citation when quoting other sources. This means that ANY borrowed material (even a short phrase) should be placed in quotation marks with the source (URL, author/date/page #) immediately following the end of the passage (the end quote). Changing a few words in a passage does NOT constitute putting it in your own words and proper citation is still required. Borrowed material should NOT dominate a student’s work, but should only be used sparingly to support your own thoughts, ideas, and examples. Heavy usage of borrowed material (even if properly cited) can jeopardize the points for that question. Uncited material can jeopardize a passing grade on the exam. As a part of our commitment to academic integrity, your work may be submitted to turnitin.com, an online plagiarism checking service. So please be VERY mindful of proper citation.
    • Essay questionsoften come from cases in the textbook, especially closing cases, so you may want to focus on these.

8. Some of the key study areas are below. While these are key areas, remember that the exam is comprehensive for all of the assigned course content and this study guide may not be all inclusive.

  • FDI
  • GATT-Purpose/Foundation
  • WTO- Purpose/Foundation
  • Pros/Cons Globalization
  • Collectivism/Individualism
  • Types of Economic Systems
  • Four Dominate Religions
  • Ethnocentrism
  • Adam Smith/Absolute Advantage
  • Comparative Advantage
  • Vernon’s Product Life Cycle Theory
  • First Mover Advantage
  • Porter’s Diamond of Competitive Advantage
  • Entry Strategies
  • Regional Economic Integration
  • Arbitrage
  • Factors that Influence Exchange Rates
  • Convertible/Non-Convertible Currency
  • IMF
  • TQM Philosophy
  • Culture
  • Free Trade Area
  • Foreign Exchange Transactions
  • Foreign Corrupt Practices Act
  • Counter Trade
  • NAFTA
  • MERCOSUR
  • Experience Curve
  • Economic Risks
  • Exchange Rate Market
  • World Bank (Real name)
  • Floating/Fixed Exchange Rates
  • Hofstede’s Four Dimensions
  • Economies of Scale
  • Four basic Global Strategies
  • Heckscher-Ohlin Theory
  • Pros/Cons of Alliances
  • Exporting vs. Set Up of Manufacturing, Licensing, Owning, Franchising, Turnkey
  • Purchasing Parity Power
  • Trade Creation/Trade Diversion
  • Strategies for Location Production Facilities
  • Countertrade
  • The Law of One Price
  • Differences in Distribution Systems
  • Push/Pull Communication Strategies
  • Manufacturing Location Variables
  • Multipoint Competition
  • Social Mobility
  • Expatriate, Failure Causes
  • Staffing Approaches for International Business
  • The Experience Curve

9. Reviewing the TCOs, which I have listed below for your convenience, will also be a great preparation for the Final Exam.

1

Given the description and the evolution of “Globalization” and its impact on job security, income levels, labor and environmental policies, and national sovereignty, understand how the process of globalization is giving rise to numerous business opportunities and challenges outside of the United States that business managers must identify and confront.

2

Given the differences between the political, economic, and legal systems that make up the cultural and social structure of different countries, determine the implications for business management – benefits, costs, and risks – associated with doing business in a foreign country.

3

Given the political and economic arguments for government intervention in international trade, review and evaluate the effectiveness of government’s policies on business practices across borders, and the important implications that international trade theory and ethics holds for business practice.

4

Given the evolution of “foreign direct investment” activities, identify the forces behind the rising tide of FDI in the world’s economy, and understand the policy instruments and political ideology governments can use to restrict and to encourage it.

5

Given the economic and political arguments for and against regional economic integration (EU, NAFTA, MERCOSUR), assess the implications for business that are inherent in regional economic integration agreements.

6

Given the nature of the foreign exchange markets, and the economic theories of exchange rate determination, evaluate the influence of exchange rates on the level of the profitability of trade and investment deals.

7

Given the historical development of the modern global monetary systems, and the key role played by the International Monetary Fund (IMF) and the World Bank (WB), understand the implications of the global monetary system for currency management and business strategy.

8

Given a business case, illustrate the importance of global expansion of U.S. businesses, and develop a Global Business Plan by incorporating the above TCOs. Be sure to include details explaining the issues surrounding your choice of: strategy, target markets, relationships and legal agreements, operations, human resources, and technology.

 

Finally, if you have any questions for me, please post them to our Q&A or e-mail me. Good luck on the exam!

Click here to have a similar A+ quality paper

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