Question

Question 195 pts

___________ is the strategy a firm follows when it sells the same product or service in all of its international markets.

a.	Convergence
b.	Universalism
c.	Standardization
d.	Customization
e.	Franchising

Group of answer choices

E

A

C

D

B

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Question 205 pts

China has a comparative advantage in that

a.	it offers a low labor cost.
b.	it has a high amount of water resources.
c.	it has an abundance of coal.
d.	it manufactures electricity using nuclear energy.
e.	it has a high amount of oil reserves.

Group of answer choices

E

C

A

D

B

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Question 215 pts

International franchising is generally used in manufacturing industries whereas international licensing is used mostly in service industries.

Group of answer choices

True

False

Answer 1

1)___________ is the strategy a firm follows when it sells the same product or service in all of its international markets.

✓ C. Standardization

(Standardization is the strategy adapted by a firm, who wants to sell same product/services in different international markets, without changing anything.

Other options are not correct because,

Convergence refers to adapting the culture and bringing necessary changes in the offerings to match the needs of international customers.

Customisation refers to providing products that are made based on the specifications of customers and services tailored to their needs.

Franchising is an international entry mode, that provides right to use brand name, processes, and product to an international firm or an individual, for a royalty fee.)

2)China has a comparative advantage in that

✓ it offers low labor cost

(China still retain its comparative advantage in that it offers low labor costs, and maximize revenue by manufacturing variety of goods at cheaper rate.

Other options are not included in the comparative advantage for China.)

3)International franchising is generally used in manufacturing industries whereas international licensing is used mostly in service industries.

✓ false

(International franchising is used in service industries and licensing is used for manufacturing industries.)

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