Chapter 12 Essay

Submitted By Ahmad-Hamdalla
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Pages: 28
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Chapter 12
Student: ___________________________________________________________________________

1.

According to the opening case, before General Electric discovered joint ventures, it entered a foreign market in what way?
A. exporting
B. importing
C. franchising
D. licensing.
E. Greenfield subsidiary

2.

The choice of what foreign market to enter should, according to the textbook, be driven by an assessment of: A. relative long-run growth and profit potential.
B. geographic proximity and friendliness of host government.
C. climate and economic stability of host government.
D. friendliness of host government and profit potential.
E. relative long-run profit and the risk of losses

3.

The advantages frequently associated with entering a market early are commonly known as:
A. inaugural advantages.
B. first-mover advantages.
C. initial-entrant premiums.
D. proactive-mover benefits.
E. primary entrant advantages

4.

Once attractive markets have been identified, it is important to consider the:
A. timing of entry.
B. competition.
C. costs involved.
D. insurance needed in the event of failure.
E. All of these answers are correct

5.

Which of the following is not a first-mover advantage?
A. The ability to increase a firm's chances of survival by entering a foreign market before industrial rivals
B. The ability to build sales volume in a country and ride down the experience curve ahead of rivals
C. The ability to create switching costs that tie customers to a company's products or services
D. The ability to pre-empt rivals
E. The ability to capture demand by establishing a strong brand name

6.

What are the disadvantages associated with entering a market early commonly known as?
A. First-mover disadvantages
B. Inaugural disadvantages
C. Initial-entrant disadvantages
D. Proactive-mover losses
E. Primary entrant advantages

7.

Which of the following are costs that an early entrant has to bear that a later entrant can avoid?
A. Experimental costs
B. Untried costs
C. Introductory costs
D. Pioneering costs
E. Early adoption costs

8.

_______________ costs arise when the business system in a foreign country is so different from that in a firm's home market that the enterprise has to devote considerable effort, time, and expanse to learning the rules of the game.
A. Pioneering
B. Early entry
C. Introductory costs
D. Inaugural costs
E. Primary entrant

9.

All of the following are pioneering costs except the costs of:
A. business failure.
B. educating consumers.
C. promoting and establishing a product offering.
D. regulatory change
E. learning costs from the mistakes of early entrants.

10. A decision that has a long-term impact and is difficult to reverse a(n):
A. operational pledge.
B. functional assurance.
C. tactical covenant.
D. strategic commitment.
E. core investment
11. Entering a large market such as China before other similar industries will be associated with what?
A. exporting
B. licensing
C. franchising
D. late mover advantages
E. a high level of risk
12. Sonic Jets, an international business, is considering entering a new market in Germany. What does Sonic
Jets need to consider?
A. Its scale of entry
B. Its role as a social entity
C. Its home-country employees
D. Its top managements' desire to move to Germany
E. Its product benefits
13. According to the text, __________________ tend to change the competitive playing field and unleash a number of changes, some desirable and some undesirable.
A. economies of scale
B. loan commitments
C. significant strategic commitments
D. technological development
E. pioneering costs
14. What type of entry allows a firm to learn about a foreign market while limiting the firm's exposure to that market? A. Minimal-commitment
B. Small-scale
C. Reduced-commitment
D. Minimal-scale
E. exporting

15. The ______________ entrant is more likely than the ________________ entrant to be able to capture the first-mover advantages associated with demand pre-emption, scale economies, and switching
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