Business: a changing world / O.C. Ferrell, Geoffrey A. Hirt, Linda Ferrell Ferrell, O . C 16 editions of this work. Find a specific edition Tenth edition. New York. Title: Business; A Changing World. Author(s): O. C. Ferrell; Geoffrey A. Hirt; Linda Ferrell. Edition: Year: ISBN Business A Changing World 10th Edition PDF | Title:Business; A Changing WorldAuthor(s):O. C. Ferrell; Geoffrey A. Hirt; Linda.
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Acknowledgments The tenth edition of Business: A Changing World would not Averages,” ftp://portal7.info Business. A Changins World tenth edition. O.C. Ferrell. University of New Business in a Changing World 1 So You Want a Job in the Business World Full download: portal7.info business a changing world 10th edition pdf download business a changing world pdf business a.
International business involves the downloading, selling, and trading of goods and services across national boundaries. TRUE International business refers to the downloading, selling, and trading of goods and services across national boundaries. Topic: Definition of Business Subscribe to view the full document. Nations trade with other nations to obtain resources that would otherwise be unavailable to them. TRUE Nations and businesses engage in international trade to obtain raw materials and goods that are otherwise unavailable to them or are available elsewhere at a lower price than that at which they themselves can produce.
In such a situation, the consumption behavior of the rewarded customer is communicated to the public. It violates the right of the consumer to be informed. The company should know what the effect of this award might have on the winner: Do you see this as a potential violation of privacy? The publicity given to the customer violates privacy: However, the family might not mind the publicity or feel like it violates their privacy.
Students might have different opinions regarding the seriousness of this issue. How would you handle the situation if you were Barnard? The program of the award especially the news story associated with it should be described in detail. If the family refuses the award, the next best customer could be contacted.
The industry has come under scrutiny over product safety and validity of claims, which could lead to significant decreases in profits. If the soap is used too often, a chemical called triclosan—found in approximately 75 percent of antibacterial products—could lead to bacteria that are not only resistant to triclosan but to other antibiotics as well.
The Food and Drug Administration FDA has proposed that antibacterial soap and body wash manufacturers provide additional evidence that their products are more effective than comparable products and are safe for long-term use. If antibacterial soap manufacturers cannot prove their claims of effectiveness, they might have to re-label their products, reformulate them, or even remove them completely, which would be costly. Describe the ethical issue. The antibacterial soap industry has come under scrutiny over product safety and validity of claims.
This has led to consumer pressure and possible regulations if the firms do not self-regulate first. What are some of the potential negative effects of triclosan? If products containing the antibacterial chemical triclosan are used too often it could lead to bacteria that are not only resistant to triclosan but to other antibiotics as well.
Triclosan might interfere with hormones, making long-term use harmful for the body. Also, there have been concerns raised as to whether triclosan is any more effective than regular soap and water.
If the proposal of the FDA goes through, it will have significant implications for soap manufacturers and other industries, such as cosmetics, that use triclosan in their products. They might have to re-label their products, reformulate them, or even remove them completely, which would be costly. When Ralph Lauren discovered the bribery, it immediately reported the misconduct to the Securities and Exchange Commission SEC and worked with government authorities in the investigation.
This case demonstrates that it pays to comply with the law when misconduct is discovered. From , bribes were paid to customs and government officials in Argentina in the form of cash, dresses, handbags, and perfume to expedite processes of merchandise in the South American country.
Why did Ralph Lauren receive less severe penalties for the misconduct? How can the Ralph Lauren bribery case set a precedent for other firms when discovering misconduct? Lighter Vehicles and Higher Prices Producing vehicles with materials such as aluminum, carbon fiber, and high-strength steel are decreasing the weight of vehicles by about pounds, while still providing the same amount of strength and without increasing the retail price.
The use of lighter materials also allows for vehicles to be bound with structural adhesives and sealants, which can add rigidity to the body of the vehicle, absorb shock, and potentially provide a safer ride for the customer.
As cars become lighter, consumers face higher repair costs when it comes time to repair their environmentally friendly vehicles. These lighter materials are difficult to repair because welding and cutting weaken the surface. Additionally, there have been cases wherein the auto adhesives have melted when reaching certain temperatures. Discuss some of the trade-offs of having lighter, more sustainable vehicles. Lighter vehicles use less energy and are expected to cut fuel usage in half.
Using lighter materials allows the use of structural adhesives and sealants, which can add rigidity to the body of the vehicle, absorb shock, and potentially provide a safer ride. By using these lighter components can cause increases in repair costs due to having to replace whole parts instead of performing repair work. Finally, there have been reports of the auto adhesives melting when reaching certain temperatures. Discuss any ethical issues you can identify in this scenario.
Also, there could be ethical concerns if auto repair companies knowingly start replacing entire panels even when it would be possible to repair or replace parts. In light of the negative consequences of producing these vehicles, do you think companies should continue to produce lighter-weight vehicles in the name of sustainability? Why or why not? A Dilemma for Business Firms In the United States, the amount of consumer and industrial waste has been increasing regularly.
It was estimated that by the year , total municipal solid waste reached million tons. Ecological authorities frequently tout recycling as a means of slowing down waste and the need for landfill space. Biodegradable products, those which decompose, are also recommended. Organizations such as Walmart are reducing pollution and waste in anticipation of future federal regulatory mandates. Similarly, Recycline offers toothbrushes and other household and personal grooming products made from recycled Stonyfield Farm yogurt containers.
Many large retailers offer recycling centers for paper, plastics, and aluminum. Best download even offers electronics recycling at many of its stores. Large grocery chains frequently give consumers discounts on their downloads if they bring their own bags with them.
While recycling has become increasingly widespread, recycling centers can be problematic for two reasons: For example, one manager of a major retailing firm pointed out that people used the recycling bins to dispose of all kinds of unwanted trash and garbage, disregarding the specific types of materials to be placed in the bins. Every morning, employees had to clean the parking lot of debris from the recycling bins.
People would toss in glass, metal, cloth, and garbage in plastic sacks—materials not to be deposited in the recycling bins. Many cities in the United States, concerned about the declining amount of landfill space, have introduced recycling for trash and garbage pickup.
Those municipalities, as in the case of individual business firms, need an outlet for materials saved for recycling. Sorting is a requirement for municipal recycling—whether done by each household or by specialized sorting equipment. Two trends may lead to increased recycling by consumers and business firms.
One trend is charging for nonrecyclable garbage. For example, some municipalities refuse to pick up nonrecycled trash and garbage, forcing households to hire private firms to pick up nonrecycled items. Another trend is through regulation that requires recycling, such as the German Green Point Law, which requires manufacturers to assume responsibility for the disposal of their packaging. When consumers and business firms find it is in their economic interests to recycle, then perhaps producers will find ways to use recycled products.
For example, Pitney Bowes of Canada Ltd. Thermo Tech Technologies Inc. Technology also has many innovative uses proposed for recycled plastics—some as reformulated plastics, others as insulation or building materials. Biodegradability is the main problem with plastics. Biodegradable plastics, however, can be composted and are therefore healthier for the environment.
Household and personal care product firm Seventh Generation offers biodegradable diapers, cleaners, and detergents. While these products must be composted properly in order to fully biodegrade, they do represent a step in the right direction toward fully biodegradable plastics.
Recycling, no doubt, is here to stay. Social responsibility on the part of consumers and businesses will encourage greater use of recycling. Governmental regulation also will spur greater use of recycling in the future.
Why has recycling become more popular and widespread? As more consumers become concerned about the environment and climate change, recycling has become more common.
Many cities offer recycling services now, and some organizations also have recycling bins for commonly recycled items. Furthermore, companies like Best download offer recycling services for difficult-to-recycle items like electronics. As resources become scarcer and more consumers reject companies perceived as wasteful, organizations have sought to improve their recycling practices in order to cut down on waste and to increase goodwill.
What are some of the issues hindering businesses and organizations from offering further recycling services? Recycling can be expensive because people must be hired to sort the recycled goods.
There must also be a market for recyclables. In recessionary periods, oftentimes it becomes too expensive to continue to offer recycling programs because companies seek to cut back on extra expenses. Some cities and towns have found that recycling programs can be expensive to maintain also.
What are some of the solutions companies are developing to help cut down on waste and to recycle more? Some companies are turning to energy saving measures like using renewable energy. They are also looking toward cutting-edge materials to help reduce waste that ends up in landfills.
Biodegradable plastics in packaging are relatively new and, while they are not in widespread use, are growing in acceptance and popularity.
An employee who takes action upon observing improper conduct by a fellow employee is often referred to as a whistleblower. Having read of the harassment that most often comes to a whistleblower, however, a person will probably think long and carefully before blowing the whistle. The case below is a fictitious example used to discuss the ethical problems for employees.
Adam Brown worked in the design engineering department of a manufacturing firm. As part of his job, Adam Brown frequently communicated and worked with the downloading department in his firm in providing material and equipment specifications for downloads. Accepting such a gift from a supplier was strictly against company policy. Adam rationalizes that most likely the trip was just an expression of appreciation from the supplier, but he still agonizes about what he should do.
Make sure that they defend their responses no matter which stance they take. Or should he talk to Martin Cooper? Or should he just keep quiet? If he decides to do nothing, is Adam guilty of unethical business behavior? Under pressure from employees and consumers, businesses understand the importance of ethical and social responsibility issues.
As the trend continues to grow, more and more businesses are likely to employ individuals who are experts in these areas. Define business ethics. Who determines whether a business activity is ethical? Is unethical conduct always illegal? Business ethics refers to principles and standards that determine acceptable conduct in business. Ethical behavior is determined by the public, government regulators, interest groups, and competitors.
Unethical conduct is not always illegal, but it does not conform to the principles of society. Ethics goes beyond legal issues. It attempts to build trust among the participants of business. Distinguish between ethics and social responsibility. Why has ethics become so important in business? The negative publicity received by many unethical business practices has made consumers very much aware of ethical issues.
Consumers are putting pressure on businesses to behave more ethically with all the parties involved directly or indirectly in business affairs. What is an ethical issue? What are some of the ethical issues discussed in your text? Why are they ethical issues? An ethical issue is an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical.
The text categorizes a number of issues, including misuse of company time, bribery, abusive behavior, misuse of company resources, conflicts of interest, communications, and business relationships. What is a code of ethics? How can one reduce unethical behavior in business? A code of ethics is a set of formalized rules and standards that describes what a company expects of its employees. One can reduce unethical behavior in business by developing and promoting a code of ethics, and by using different methods such as training, group discussions, or corporate communications.
List and discuss the arguments for and against social responsibility by business Table 2. Can you think of additional arguments for or against? Arguments for social responsibility include 1 business helped create problems and should help to solve them; 2 business has the financial and technical resources to help solve problems; 3 as a member of society, business should do its fair share to help others; 4 social responsibility can help prevent increased government regulation; and 5 social responsibility helps to ensure economic survival.
Arguments against social responsibility include 1 social responsibility detracts from the profit-making objectives of business; 2 participation in social responsibility programs gives business power at the expense of other segments of society; 3 business may not have the expertise to solve social problems; and 4 social problems are the responsibility of government agencies. Students may be able to offer additional arguments for or against being socially responsible. What responsibilities does a business have toward its employees?
A business should provide employees with a safe workplace, pay them adequately, listen to their grievances, and treat them fairly. What responsibilities does business have with regard to the environment? What steps have been taken by some responsible businesses to minimize the negative impact of their activities on the environment? Businesses have the responsibility of maintaining a healthy environment.
Businesses must take responsibility for their actions as part of society. Some companies focus on prevention as part of environmental responsibility. Others view the protection of the environment as a way of reducing costs and increasing profits. More companies are adopting social responsibility audits to determine how effective the programs have been and to help develop future programs.
Businesses have responsibilities to the general welfare of the communities and societies in which they operate. Many businesses simply want to make their communities better places for everyone to live and work. Discuss some recent examples of businesses engaging in unethical practices.
Classify these practices as issues of conflict of interest, fairness and honesty, communications, or business relationships. Why do you think the businesses chose to behave unethically? What actions might the businesses have taken? Student answers will vary, but they should support their answers with information from the text. Sample student answer: Potential ethical issues include conflict of interest if the board members acted in their own best interests rather than in the interests of the company; fairness and honesty if they did conspire to replace the CEO all along; insufficient communication since most stakeholders, many workers, and even some board members did not understand why the ouster took place; and business relationships since the replacement appeared to breach the agreement between the two companies when they merged.
Full clear download no error formatting at: See More. LO Detect some of the ethical issues that may arise in business. LO Specify how businesses can promote ethical behavior. LO Explain the four dimensions of social responsibility. Business 48 social responsibility p. LO Define business ethics and social responsibility and examine their importance. Key Terms: PPT 2. Business 3. Top managers must: Create strong relationships with ethics and compliance department b.
Clearly communicate expectations for ethical behavior to all employees c. Train managers and employees on what to do if an ethics crisis occurs E. Social responsibility and ethics are not the same PPT 2. Criminalized securities fraud and stiffened penalties for corporate fraud b. Dodd-Frank Act a.
Enacted after the most recent recession II. Learning to recognize and resolve ethical issues is a key step in evaluating ethical decisions 4. Recognizing ethical issues Plagiarism 1. Recognizing ethical issues is understanding business ethics the most important step in 3. Bribes are payments, gifts, or special favors intended to influence the outcome of a decision PPT 2. One of the principal causes of unethical behavior in organizations is overly aggressive financial or business objectives D.
Percentage of U.
Theft of time is a common area of misconduct observed in the workplace 2. Abusive or intimidating behavior is the most common ethical problem for employees PPT 2. Abusive behavior is difficult to assess and manage because of diversity in culture and lifestyle 5.
Business PPT 2. Actions Associated with Bullies Table 2. Many companies have implemented official policies delineating acceptable use of company resources PPT 2.
Inside trading is the downloading or selling of stocks by insiders who possess material that is still not public PPT 2. Recognize ethical behavior PPT 2. Business K. The activities and examples set by managers and co-workers are critical in gaining consistent ethical compliance 4. Employees must have established ethics policies if employees are to determine what conduct is acceptable 7. Codes and policies on ethics encourage the creation of an ethical culture in the company 3.
FALSE A business may get involved in exporting when it is called upon to supply a foreign company with a particular product. Such exporting enables enterprises of all sizes to participate in international business.
Licensing allows a company to enter the international marketplace without spending large amounts of money abroad. TRUE Licensing and franchising enable a firm to enter the international marketplace without spending large sums of money abroad or hiring or transferring personnel to handle overseas affairs. A strategic alliance is a partnership formed to create competitive advantage on a worldwide basis. TRUE A strategic alliance is a partnership formed to create competitive advantage on a worldwide basis.
Direct investment gives lesser power and is the least expensive way to participate in foreign trade. FALSE Companies that want more control and are willing to invest considerable resources in international business may consider direct investment, the ownership of overseas facilities. Multinational corporations MNCs are often criticized on the grounds that they adversely affect production in the host countries and also contribute to higher unemployment.
FALSE Multinational corporations MNCs are criticized on the grounds that they increase the gap between rich and poor nations, misuse and misallocate scarce resources, exploit the labor markets in less-developed countries LDCs , and harm their natural environments.
FALSE Companies doing business internationally have traditionally used a multinational strategy, customizing their marketing mixes according to cultural, technological, regional, and national differences. A multinational strategy involves customizing products, promotion, and distribution according to cultural, technological, regional, and national differences. TRUE A multinational strategy involves customizing products, promotion, and distribution according to cultural, technological, regional, and national differences.
Even when products are standardized, advertising often has to be modified to adapt to local cultures. TRUE Even when products are standardized, advertising often has to be modified to adapt to language and cultural differences.
Globalization involves standardizing products for the whole world as if it were a single entity. TRUE A global strategy or globalization involves standardizing products and, as much as possible their promotion, and distribution for the whole world as if it were a single entity.
The country of Southernberg is the only producer of oil. Some nations have a monopoly on the production of a particular resource or product. Apply Difficulty: When compared to all other countries, the country called Theoria can produce wheat in the most efficient manner. Most international trade is based on comparative advantage, which occurs when a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items.
Importing B. Exporting C. Outsourcing D. Dumping E. Insourcing Outsourcing is the transferring of manufacturing or other tasks—such as data processing—to countries where labor and supplies are less expensive. Why has outsourcing become a controversial practice in the United States?
Many jobs have moved overseas where those tasks can be accomplished for lower costs. Outsourcing empowers the outsourcing company with more managerial control.
The losses incurred out of the hidden costs of outsourcing are making companies go bankrupt. Delegation of several processes leaves the outsourcing company with much lesser time to concentrate on to its core business process. The outsourced products end up having sub-standard quality because their producers lack expertise. Outsourcing has become a controversial practice in the United States because many jobs have moved overseas where those tasks can be accomplished for lower costs.
Franchising B. Offshoring C. Exporting E. Importing To obtain needed goods and services and the funds to pay for them, nations trade by exporting and importing.
Exporting is the sale of goods and services to foreign markets. Which of the following terms can be best defined as the download of goods and services from foreign sources? Licensing B. Franchising C. Dumping D. Importing is the download of goods and services from foreign sources.
A negative balance of trade exists when a country: A nation's balance of trade is the difference in value between its exports and imports. A trade deficit is defined as a nation's negative balance of trade, which exists when that country imports more products than it exports. Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza imports from Snowland have been rapidly increasing but not fast enough to offset the exports to Snowland.
Which is one of the implications of trade deficits? The success of businesses B. The import of more products C. The loss of jobs D. The export of more services E. A higher standard of living A trade deficit is defined as a nation's negative balance of trade, which exists when that country imports more products than it exports. Trade deficits are harmful because they can mean the failure of businesses, the loss of jobs, and a lowered standard of living. Analytical Thinking Accessibility: A favorable balance of trade exists when a country: When a nation exports more goods than it imports, it has a favorable balance of trade, or trade surplus.
Which of the following is most likely to cause a trade deficit? When a country invests more on producing domestic goods than services B. When a country focuses on increasing the domestic output of one sector over another C. When a country focuses on long-term benefits than short-term gains D. When a country reduces taxes on imports E. When a country increases export of products and services A trade deficit exists when a country imports more goods and services than it exports.
Therefore, when a country reduces taxes on imports it is most likely to cause a trade deficit because it will lead to more imports. A country's balance of trade, foreign investment, foreign aid, loans, military expenditures, and money spent by tourists comprise its balance of payments. Identify the industrialized nation from among the following. Iraq B. Myanmar C.
Pakistan D. North Korea E. Many countries in Africa, Asia, and South America, for example, are in general poorer and less economically advanced than those in North America and Europe; they are often called less-developed countries LDCs.
Identify the less-developed country from among the following. The United States B. New Zealand C. Great Britain D. Somalia E.
Find out the correct statement about less-developed countries LDCs. Their consumers are more likely to download nonessential products. They are characterized by low per-capita income. Although they are called less developed, they are economically advanced. The rising middle class has caused many consumers in India to opt for public transport.
Countries like Japan, Great Britain, and Canada fall into this category. LDCs are characterized by low per-capita income income generated by the nation's production of goods and services divided by the population , which means that consumers are less likely to download nonessential products. Exchange rate B. National rate C. Exchange ratio D. Value ratio E.
Currency ratio The ratio at which one nation's currency can be exchanged for another nation's currency is the exchange rate. When a country devalues its currency, it causes an increase in: Devaluation decreases the value of currency in relation to other currencies.
Devaluation encourages the sale of domestic goods and tourism, causing an increase in exports. Which of the following is likely to be an impact of a decrease in the value of yen in relation to the U. The Japanese imports of U. The number of Japanese tourists in the U. Trips to Japan would become more expensive for foreign tourists. Imports would become relatively expensive for Japanese consumers.
The cost of Japanese goods abroad would become higher. When the value of the Japanese yen declines relative to other currencies, such as the U. Occasionally, a government may intentionally alter the value of its currency through fiscal policy. If the Japanese yen is were to be devalued, it would lower the cost of Japanese goods abroad and make trips to Japan less expensive for foreign tourists.
Thus, devaluation encourages the sale of domestic goods and tourism. Reflective Thinking Accessibility: Which of the following is a true statement about barriers to international business?
Devaluation discourages the sale of domestic goods and tourism. Revaluations occur daily because of the daily changes in exchange rates. Legal and ethical requirements for successful business are decreasing globally. Many of the legal rights that Americans take for granted do not exist in other countries.
Many of the legal rights that Americans take for granted do not exist in other countries, and a firm doing business abroad must understand and obey the laws of the host country. Most countries allow citizens traveling abroad to bring home a certain amount of merchandise without paying an import tariff.
A fixed tariff differs from an ad valorem tariff because an ad valorem tariff: A fixed tariff is a specific amount of money levied on each unit of a product brought into a country, while an ad valorem tariff is based on the value of an item. The country of Thelisia pays a 12 percent duty on imported TV sets which is calculated as a fixed percentage of the value of the imported TV sets.
An ad valorem tariff is based on the value of an item. Identify the true statement about tariffs and trade restrictions. Countries are not allowed to levy tariffs for political reasons. Critics of protective tariffs argue that their use inhibits free trade and competition. Countries cannot allow citizens traveling abroad to bring home merchandise without paying an import tariff. Quotas cannot be established by voluntary agreements.
For example, the United States has lost a significant number of steelworks over the past few decades to foreign competition in places such as China. Other markets can produce steel more cheaply than the United States.
Many people and special interest groups in the United States, such as unions, would like to see tariffs placed on Chinese steel, which is significantly less expensive, in order to protect remaining U. Which is the correct statement regarding tariffs and trade restrictions? Supporters of protective tariffs say they insulate new domestic industries against wellestablished foreign competitors.
Tariffs are part of a country's legal structure, and thus, cannot established or removed for political reasons. Countries cannot control their foreign trade by forcing businesspeople to download and sell foreign products through central banks.
Embargoes are created to encourage the trade of particular products. Items downloadd in different countries cannot have different tariffs if the items are identical. Supporters of protective tariffs say they insulate domestic industries, particularly new ones, against well-established foreign competitors.
Once an industry matures, however, its advocates may be reluctant to let go of the tariff that protected it. Which of the following is a measure that does not yield revenue for the government of the United States, but can effectively limit the quantity of a particular good being imported from Japan? Quota B. Value-added tax C. Tariff D. Embargo E. Subsidy A quota limits the number of units of a particular product that can be imported into a country.
Because of an unfavorable political situation between the countries, the country of Thetasia has placed a government order to prohibit the trade of private vehicles with the country of Calibria. Embargoes are generally directed at specific goods or countries and may be established for political, economic, health, or religious reasons. Dumping B. Importing Dumping is the act of a country or business selling products at less than what it costs to produce them. Muslim nations forbid the importation of alcoholic beverages on religious grounds.
Monopolizing C. Offshoring E. Dumping Dumping is the act of a country or business selling products at less than what it costs to produce them. Which of the following is one of the most common reasons for setting quotas or tariffs? To increase licensing B.
To increase sales C. To relax embargoes D. To prohibit dumping E. To encourage franchising One common reason for setting quotas or tariffs is to prohibit dumping, which occurs when a country or business sells products at less than what it costs to produce them.
Identify the correct statement about dumping. Dumping occurs when the country of origin has products with the latest technologically that are in high demand in overseas markets. Dumping occurs when a business sells products at much more than what it costs to produce them.
Dumping occurs when the domestic market for a firm's product is too big for match the level of production. Quotas cannot be imposed based on suspicion of dumping unless proven. Dumping permits quick entry into a market. Dumping is the act of a country or business selling products at less than what it costs to produce them. Agro Corp. The domestic market of Arahonia is not sufficient to support Agro Corp. Thus, Agro Corp. Sometimes dumping occurs when the domestic market for a firm's product is too small to support an efficient level of production.
Probably the most famous cartel is OPEC, the Organization of Petroleum Exporting Countries, founded in the s to increase the price of petroleum throughout the world and to maintain high prices. A sudden change in power can result in a regime that is hostile to foreign investment. This is a primary example of a political barrier.
Most businesspeople engaged in international trade underestimate the importance of social and cultural differences; but these differences can derail an important transaction.
Understanding that Arab businessmen tend to stand face-to-face when holding a conversation reveals the importance of understanding another culture's use of: Differences in body language and personal space affect international trade. Body language is nonverbal, usually unconscious communication through gestures, posture, and facial expression.
Personal space is the distance at which one person feels comfortable talking to another. Americans tend to stand a moderate distance away from the person with whom they are speaking. Arab businessmen tend to stand face-to-face with the object of their conversation. In which of the following regions is forming a circle with one's fingers to signify the "O.
India B. Mexico C. Germany D. Great Britain E. The United States Forming a circle with one's fingers to signify the "O. The effective translation of product names can be crucial to the success in foreign markets because of: Cultural differences include differences in spoken and written language.
Although it is certainly possible to translate words from one language to another, the true meaning is sometimes misinterpreted or lost. Many countries do not allow children to be used in advertising. Family roles also influence marketing activities. Many countries do not allow children to be used in advertising, for example. A forum to discuss trade problems and negotiate a reduction of trade barriers was first provided by the: World Bank.
Exim bank. The General Agreement on Tariffs and Trade GATT , originally signed by 23 nations in , provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved. More than nations abided by its rules.
Choose the international organization based in Geneva, Switzerland, that was created in by the Uruguay Round of the General Agreement on Tariffs and Trade GATT , which deals with the rules of trade between nations.
The European Union B. The World Trade Organization C. The World Bank D. Based in Geneva, Switzerland, the WTO has also adopted a leadership role in negotiating trade disputes among nations. Canada and Alaska B. Brazil, Mexico, and the United States C. Chile, Brazil, and the United States D. Canada, Mexico, and the United States E. Mexico B. India C. China D. Japan E. About 79 percent of Canada's exports go to the United States, including mineral fuel and oil, vehicles, machinery, and plastic.
In fact, Canada is the single largest trading partner of the United States. Which of the following is a true statement about the European Union? It is trying to create opportunities to trade with South America. It is working toward the creation of a standardized currency. It is striving to impose customs checks within Europe. It is working toward the abolition of import duties.