INTERNATIONAL BUSINESS CHAPTER 12

8/9/2019 INTERNATIONAL BUSINESS CHAPTER 12

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International Business, 6e (Griffin/Pustay)

Chapter 12 Strategies for Analyzing and Entering Foreign Marets

1) Which of the following is not one of the three steps in increasing market share, revenue, and

profits?

A) Assess alternative markets.B) Evaluate respective costs, benefits, and risks.

) !erform a situation anal"sis.

#) $elect market with most potential for entr" or e%pansion.E) All are relevant steps.

Answer&

#iff& ' !age (ef& '

*b+ective& 1'.1& #iscuss how firms anal"e foreign markets.

') $tarbucks uses all of the following entr" methods in its international operations except

--------.

A) wholl" owned subsidiariesB) licensing agreements

) franchising agreements#) +oint ventures

E) $tarbucks uses all of the above methods

Answer& #iff& !age (ef& '

$kill& AA$B& lobaliation

*b+ective& 1'.'& *utline the process b" which firms choose their mode of entr" into a foreign

market.

) Which of the following factors is commonl" considered when assessing alternative foreignmarkets?A) current sie of market

B) potential sie of market

) competitive levels in market#) legal and political environment in market

E) all of the above

Answer& E

#iff& 1 !age (ef& $kill& AA$B& lobaliation


1


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/) What is the first step in selecting a foreign market?

A) assessing market potential

B) assessing the level of competition) monitoring ma+or markets

#) evaluating host countr"0s trade policies

E) assessing general legal and political environmentsAnswer& A

#iff& ' !age (ef& /

$kill& AA$B& lobaliation*b+ective& 1'.1& #iscuss how firms anal"e foreign markets.

) Which of the following is nota critical factor in assessing new market opportunities?A) product2market dimensions

B) potential target markets

) success factors#) potential for worldwide learning

E) product2market differences

Answer& ##iff& ' !age (ef&


3) *b+ective measures of the potential for growth in an econom" include all of the followingexcept--------.

A) #!

B) ownership of private automobiles) changes in per capita income

#) energ" consumption

E) impact of changes in political regimeAnswer& E

#iff& ' !age (ef& /


4) Which of the following factors is notused to assess the competitive environment in a foreign

market?

A) the number of e%isting firmsB) the sie of e%isting firms

) current advertising strategies

#) relative market sharesE) e%isting pricing and distribution strategies

Answer&

#iff& ' !age (ef& /$kill& AA$B& lobaliation


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5) A firm might choose to forgo e%porting to a foreign market when --------.

A) the current sie of market is small

B) man" other firms are alread" e%porting) there are high trade barriers

#) the compan" wants to use the market as a platform to other markets

E) the firm0s e%isting foreign operations are geographicall" distantAnswer&

#iff& ' !age (ef&


6) -------- refer to e%penses incurred b" the firm as it enters a new foreign market.A) 7ndirect costs

B) #irect costs

) *pportunit" costs#) 8ariable costs

E) All of the above

Answer& B#iff& 1 !age (ef& 3


19) Because a firm has limited resources, entering one market ma" preclude its entr" intoanother. What t"pe of cost is reflected in this situation?

A) indirect costs

B) direct costs) opportunit" costs

#) variable costs

E) all of the aboveAnswer&

#iff& 1 !age (ef& 3


11) osts associated with setting up a business operation, transferring managers to run it, and

shipping e:uipment and merchandise are all e%amples of which t"pe of cost?A) opportunit" costs

B) set2up costs

) direct costs#) indirect costs

E) opening costs

Answer& #iff& ' !age (ef& 3



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1') All of the following are potential benefits of entering a new market except--------.

A) elimination of s"nerg" with other operations

B) e%pected sales and profits) lower ac:uisition and manufacturing costs

#) foreclosing of markets to competitors

E) access to new technolog"Answer& A

#iff& ' !age (ef& 3


1) Which theor" listed below is useful in deciding which mode of entr" to use when entering

foreign markets?A) ownership advantage theor"

B) internaliation theor"

) eclectic theor"#) relative factor endowments

E) national competitive advantage

Answer& #iff& ' !age (ef& 4


1/) Which of the following should be considered when choosing a mode of entr"?A) ownership advantages

B) location advantages

) internaliation advantages#) need for control

E) all of the above

Answer& E#iff& 1 !age (ef& 4


market.

1) Which of the following is not one of the decision factors in the choice of entr" mode?

A) ownership advantages

B) location advantages) national competitive advantages

#) internaliation advantages

E) resource availabilit"Answer&

#iff& !age (ef& 4

*b+ective& 1'.'& *utline the process b" which firms choose their mode of entr" into a foreignmarket.

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13) ;he informational, political, and cultural disadvantages that foreign firms face when tr"ing to

compete against local firms in the host countr" market are referred to as --------.

A) opportunit" costsB) liabilit" of foreignness

) internaliation disadvantages

#) ownership liabilit"E) the burden of internationaliation

Answer& B

#iff& 1 !age (ef& 5$kill& AA$B& lobaliation


market.

14) Which of the following is nota mode of entr" into foreign markets?

A) e%portingB) importing

) international licensing

#) international franchisingE) greenfield strateg"

Answer& B

#iff& 1 !age (ef& 4

$kill& AA$B& lobaliation*b+ective& 1'.'& *utline the process b" which firms choose their mode of entr" into a foreign

market.

15) -------- are tangible or intangible resources owned b" a firm which grant it a competitive

advantage over its industr" rivals.

A) *wnership advantagesB)


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'') ;o"ota0s efficient manufacturing techni:ues and reputation for producing high2:ualit"

automobiles are e%amples of --------.

A) location advantagesB) ownership advantages

) internaliation advantages

#) legal advantagesE) internationaliation advantages

Answer& B

#iff& ' !age (ef& 5$kill& AA$B& lobaliation


market.

') Which entr" mode is used fre:uentl" b" pharmaceutical firms?

A) e%porting

B) licensing

) greenfield strateg"#) management contract

E) franchisingAnswer& B

#iff& ' !age (ef& 5


market.

'/) ;he choice of entr" mode is a trade2off between the level of risk borne b" the firm and--------.

A) potential rewards possible

B) magnitude of resource commitment necessar") level of control sought b" the firm

#) all of the above

E) none of the aboveAnswer& #

#iff& ' !age (ef& /9



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') -------- is the most common form of international business activit".

A) E%porting

B)


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'5) -------- for e%porting are those that push a firm into foreign markets.

A) (eactive motivations

B) !roactive motivations) *pportunit" motivations

#) Avoidance motivations

E) Attraction motivationsAnswer& A

#iff& 1 !age (ef& /1

$kill& AA$B& lobaliation*b+ective& 1'. #escribe forms of e%porting and the t"pes of intermediaries available to assist

firms in e%porting their goods.

'6) Which of the following is not a disadvantage of e%porting?

A) vulnerabilit" to tariffs

B) logistical comple%ities) potential conflicts with distributors

#) gradual market entr"

E) vulnerabilit" to =;BsAnswer& #



*b+ective& 1'. #escribe forms of e%porting and the t"pes of intermediaries available to assistfirms in e%porting their goods.

9) Which of the following is not an advantage of licensing?A) low financial risks

B) low2cost wa" to assess market potential

) reduced control#) avoidance of tariffs

E) knowledge of local markets

Answer& #iff& ' !age (ef& /1


*b+ective& 1'./& 7dentif" the basic issues in international licensing and discuss the advantages

and disadvantages of licensing.

1) Which of the following is an advantage of franchising?

A) limited market opportunit"B) avoidance of tariffs

) dependence on franchisee

#) potential conflicts with franchiseeE) possibilit" of creating future competitor

Answer& B


*b+ective& 1'.& 7dentif" the basic issues in international franchising and discuss the advantagesand disadvantages of franchising.

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') Which mode of entr" has the potential to create a future competitor?

A) licensing

B) e%porting) turnke" pro+ect

#) contract manufacturing

Answer& A#iff& !age (ef& /1

*b+ective& 1'./& 7dentif" the basic issues in international licensing and discuss the advantages


) Which of the following is an advantage of foreign direct investment?

A) high financial investmentsB) high e%posure to political risk

) high profit potential

#) greater managerial comple%it"E) vulnerabilit" to restrictions on foreign investment

Answer&

#iff& 1 !age (ef& /1$kill& AA$B& lobaliation

*b+ective& 1'.4& haracterie the greenfield and ac:uisition forms of #7.

/) A compan" engages in indirect e%portingA) sells to a domestic customer which then sells to a foreign customer

B) sells directl" to the foreign customer

) sells to an affiliated compan"#) sells to a foreign customer onl" after serving domestic customers

Answer& A

#iff& ' !age (ef& /'$kill& AA$B& lobaliation

*b+ective& 1'. #escribe forms of e%porting and the t"pes of intermediaries available to assist


) -------- occur@s) when a firm sells its products to a domestic customer, which in turn

e%ports the product, in either its original form or a modified form.

A) 7ndirect e%portingB) #irect e%porting

) 7ntercorporate transfers

#) 7ntracorporate transfersE) All are forms of e%porting.

Answer& A

#iff& ' !age (ef& /'$kill& AA$B& lobaliation



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3) When ewlett2!ackard bu"s microchips from 7ntel to use in manufacturing computers and

then e%ports the completed computers to Europe, -------- has occurred.

A) indirect e%porting of 7ntel0s chipsB) direct e%porting of 7ntel0s chips

) an intercorporate transfer of 7ntel0s chips

#) an intracorporate transfer of 7ntel0s chipsE) none of the above

Answer& A

#iff& !age (ef& /'$kill& AA$B& lobaliation



4) -------- occur@s) through sales to customers located outside the firm0s home countr".




Answer& B

#iff& ' !age (ef& /



5) -------- isare the sale of goods b" a firm in one countr" to an affiliated firm in another

countr".




Answer& #

#iff& ' !age (ef& /



11


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6) When British !etroleum ships crude oil from its storage facilities in Cuwait to its Australian

subsidiar", -------- has occurred.

A) indirect e%portingB) direct e%porting

) an intracorporate transfer

#) an intercorporate transferE) an interfirm transfer

Answer&

#iff& !age (ef& /$kill& AA$B& lobaliation



/9) Which form of e%porting is used b" firms in order to lower their production costs?

A) indirect e%porting

B) direct e%porting

) intercorporate transfers#) intracorporate transfers

E) interfirm transfersAnswer& #

#iff& !age (ef& /



/1) ;he imposition of -------- discourages international firms from rel"ing on e%ports as an

entr" mode.

A) tariffsB) e%port promotion policies

) e%port financing programs

#) home countr" subsidiationE) all of the above

Answer& A

#iff& ' !age (ef& /



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/') Which of the following marketing concerns affect the decision to e%port?

A) image

B) distribution) customer responsiveness

#) need for customer feedback

E) all of the aboveAnswer& E

#iff& ' !age (ef& /



/) What are the third parties that specialie in facilitating imports and e%ports called?A) intermediaries

B) wholesalers

) retailers

#) e%portersE) distributors

Answer& A#iff& ' !age (ef& /4



//) -------- offer services including e%port management companies, Webb2!omerene

associations, and international trading companies.A) 7ntermediaries

B) Wholesalers

) (etailers#) E%porters

E) #istributors

Answer& A#iff& ' !age (ef& /4




1


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/) A@n) -------- is a firm that acts as its client0s e%port department.

A) Webb2!omerene association

B) reenfield organiation) e%port management compan"

#) international trading compan"

E) management brokerAnswer&




/3) Which of the following duties is handled b" e%port management companies?A) shipping

B) clearing customs

) document preparation

#) advice about consumer needsE) all of the above

Answer& E#iff& 1 !age (ef& /4



/4) When an E> acts as a commission agent for e%porters --------.

A) the" handle e%port financingB) the" handle marketing

) the" handle shipping and customs clearing

#) the" take title to the goodsE) the" make their profits form reselling the goods

Answer&

#iff& ' !age (ef& /4$kill& AA$B& lobaliation



1/


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/5) A@n) -------- is a group of D.$. firms that operate within the same industr" and that are

allowed b" law to coordinate their e%port activities without fear of violating D.$. antitrust laws.

A) Webb2!omerene associationB) reenfield organiation

) e%port management compan"

#) international trading compan"E) management broker

Answer& A




/6) Which of the following activities is commonl" performed b" Webb2!omerene associations?

A) market researchB) overseas promotional activities

) freight consolidate

#) contract negotiationsE) all of the above

Answer& E




9) A@n) -------- is a firm directl" engaged in importing and e%porting a wide variet" of goods

for its own account.

A) Webb2!omerene associationB) reenfield organiation

) e%port management compan"

#) international trading compan"E) management broker

Answer& #




1


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1) Which of the following services is provided b" international trading companies?

A) market research

B) customs documentation) international transportation

#) host countr" distribution





') Where are the world0s most important international trading companies located?A) the Dnited $tates

B) erman"

) apan

#) anadaE) hina

Answer& #iff& !age (ef& /5



) A sogo sosha isA) an e%port management compan"

B) another term for a Webb2!omerene association

) another term for a keiretsu#) international trading compan"

E) a management broker

Answer& ##iff& ' !age (ef& /5




/) Which of the following is notan advantage of sogo sosha?

A) access to information about economic conditions worldwideB) read" access to financing

) built2in source of customers

#) economies of scale in transportationE) All of the above are advantages.

Answer& E




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) Which of the following solicits domestic orders for foreign manufacturers on a commission

basis?

A) manufacturers0 agentB) e%port and import broker

) freight forwarder

#) manufacturers0 e%port agentE) sogo sosha

Answer& A




3) ;he -------- acts as a foreign sales department for domestic manufacturers b" selling those

firms0 goods in foreign markets.

A) manufacturers0 agent

B) e%port and import broker) freight forwarder

#) manufacturers0 e%port agentE) sogo sosha

Answer& #




4) -------- can bring together international bu"ers and sellers of standardied commodities

like coffee and grains.A) A manufacturers0 agent

B) An e%port and import broker

) A freight forwarder#) A manufacturers0 e%port agent

E) A sogo sosha

Answer& B




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5) -------- specialie in the ph"sical transportation services for their clients.

A) >anufacturers0 agents

B) E%port and import brokers) reight forwarders

#) >anufacturers0 e%port agents

E) $ogo soshaAnswer&




6) ;he >itsubishi orporation is a firm that is directl" engaged in importing and e%porting awide variet" of goods for its own account and is a part of a keiretsu s"stem. What t"pe of e%port

intermediar" is it?

A) e%port management compan"

B) Webb2!omerene association) sogo sosha

#) freight forwarderE) e%port and import broker

Answer&

#iff& !age (ef& /6$kill& AA$B& lobaliation



39) ;he =intendo ompan" manufactures electronic video game pla"ers and game cartridges.

=intendo provides game designers with technical specifications for how its game pla"ers work.;he design firms create the games and then pa" =intendo a fee to manufacture those games.

What mode of entr" is described in this e%ample?

A) e%portingB) franchising

) licensing

#) greenfield strateg"

E) +oint ventureAnswer&

#iff& !age (ef& /5

$kill& AA$B& lobaliation*b+ective& 1'./& 7dentif" the basic issues in international licensing and discuss the advantages


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3) 7n a franchise agreement, what does the franchisor provide to the franchisee?

A) intellectual propert" @such as brand name)

B) operating s"stems) advertising support service

#) training


#iff& ' !age (ef& '


33) As compared to franchising, licensing offers --------.

A) a similar level of controlB) a higher level of control

) a lower level of control

#) greater support

E) similar supportAnswer&

#iff& ' !age (ef& *b+ective& 1'.& 7dentif" the basic issues in international franchising and discuss the advantages

and disadvantages of franchising.

34) When is international franchising most likel" to succeed?

A) when the franchisor has uni:ue products

B) when the franchisor has an advantageous operating procedure

) when success factors are easil" transferable to foreign markets#) when foreign investors are interested in entering into franchise agreements

E) all of the above

Answer& E#iff& 1 !age (ef& '



35) A -------- is used b" firms that outsource most or all of their manufacturing needs to othercompanies.

A) management contract

B) turnke" pro+ect) contract manufacturing strateg"

#) greenfield strateg"

E) licensingAnswer&

#iff& ' !age (ef&

*b+ective& 1'.3& Anal"e contract manufacturing, management contracts, and turnke" operations

as specialied entr" modes for international business.

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36) A -------- is an agreement whereb" one firm provides managerial assistance, technical

e%pertise, or specialied services to a second firm for some agreed2upon time in return for

monetar" compensation.A) management contract

B) turnke" pro+ect

) contract manufacturing strateg"#) greenfield strateg"

E) licensing

Answer& A#iff& ' !age (ef& /



49) A -------- is a contract under which a firm agrees to full" design, construct, and e:uip a

facilit" and then turn the pro+ect over to the purchaser when it is read" for operation.

A) management contract

B) turnke" pro+ect) contract manufacturing strateg"

#) greenfield strateg"E) licensing

Answer& B

#iff& ' !age (ef& *b+ective& 1'.3& Anal"e contract manufacturing, management contracts, and turnke" operations


41) What t"pe of construction pro+ect commonl" involves the use of an international turnke"contract?

A) nuclear power plant

B) airport) oil refiner"

#) all of the above

E) both A and BAnswer& #

#iff& ' !age (ef&


*b+ective& 1'.3& Anal"e contract manufacturing, management contracts, and turnke" operationsas specialied entr" modes for international business.

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4') A -------- means that the firm builds a facilit", operates it, and later transfers ownership of

the pro+ect to some other part".

A) management contractB) B*; pro+ect

) contract manufacturing strateg"

#) greenfield strateg"E) license

Answer& B

#iff& ' !age (ef& *b+ective& 1'.3& Anal"e contract manufacturing, management contracts, and turnke" operations


4) Which of the following is a method for foreign direct investment?A) building new facilities

B) bu"ing e%isting assets in a foreign countr"

) participating in a +oint venture

#) ac:uisition strateg"E) all of the above

Answer& E#iff& 1 !age (ef& 4


*b+ective& '.1& Evaluate the impact of the political and economic characteristics of the world0svarious marketplaces on the opportunities available to international businesses.

4/) A greenfield strateg" can be beneficial because of all of the following except--------.

A) it allows the firm to select the site that meets its needsB) the firm can construct modern facilities

) the firm starts with a clean slate

#) the firm can acclimate itself with the new culture at its own paceE) the firm must compl" with local and national regulations

Answer& E

#iff& ' !age (ef& 4*b+ective& 1'.4& haracterie the greenfield and ac:uisition forms of #7.

4) When two or more firms agree to work together and create a +oint owned firm to promote

mutual interest, -------- has occurred.A) an ac:uisition

B) a greenfield investment

) a +oint venture#) a licensing agreement

E) a franchise agreement

Answer& #iff& 1 !age (ef& 5


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43) Assessing market potential is the second step in the process of foreign market anal"sis.

Answer& A


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5) #unning0s eclectic theor" is useful in understanding which mode of entr" to use.

Answer& ;(DE

#iff& ' !age (ef& 4$kill& AA$B& lobaliation


market.

5/) When deciding which mode of entr" to use, a firm must consider things like ownership

advantages, location advantages, and internaliation advantages.Answer& ;(DE

#iff& 1 !age (ef& 4



5) *wnership advantages are alwa"s tangible resources.

Answer& A


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69) *ne disadvantage of e%porting is that it forces the firm to enter the foreign market :uickl".

Answer& ;(DE




61) oreign direct investment offers both high profit potential and high financial risk.

Answer& ;(DE#iff& 1 !age (ef& /1



6') (eactive motivations for e%porting are those that pull a firm into foreign markets as a result

of opportunities available there.

Answer& A


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64) >anufacturers0 agents specialie in the ph"sical transportation of goods.

Answer& A


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19) >anagement contracts are attractive because the" allow firms to earn additional revenues

without incurring an" investment risks or obligations.

Answer& ;(DE#iff& ' !age (ef& /



19/) When there is overcapacit" in an industr", ac:uisition is best strateg".

Answer& ;(DE#iff& ' !age (ef& 4


19) ;he number of +oint ventures being formed toda" is on the decline.Answer& A


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196) What are direct and opportunit" costs?

Answer& #irect costs are those the firm incurs in entering a new foreign market and include

costs associated with setting up a business operation. *pportunit" costs are the costs of missingother opportunities b" virtue of entering one market rather than another.

#iff& 1 !age (ef& 3


119) What are the five primar" t"pes of entr" modes for foreign markets?Answer& ;he five primar" wa"s to enter a foreign market include e%porting, international

licensing, international franchising, specialied modes, and foreign direct investment.

#iff& ' !age (ef& 4


market.

111) What are the three t"pes of foreign direct investment?Answer& ;he three t"pes of foreign direct investment are greenfield strateg", ac:uisition

strateg", and +oint venture.#iff& ' !age (ef& 4



11') What is liabilit" of foreignness?

Answer&


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11) Wh" might an e%porter hire a local distributor?

Answer& irms, especiall" those that are +ust beginning to e%port, often lack the e%pertise to

market their products abroad, and so seek a local distributor to handle their products.#iff& ' !age (ef& /3



113) What are the two wa"s E>s operate?Answer& E>s can act as commission agents where the" handle the details of shipping, clearing

customs, an documentation in e%change for an agreed2upon fee, or the" can take title to the

goods and resell them at a higher price.




114) What are the advantages and disadvantages of contract manufacturing?

Answer& 7ts advantages are low financial risk, minimal re:uired resources devoted tomanufacturing, and the abilit" to focus firm0s resources on other areas of the value chain. 7ts

disadvantages are reduced control, reduced learning potential, and potential public relations

problems.#iff& ' !age (ef& /



115) What is indirect e%porting?

Answer& 7ndirect e%porting occurs when a firm sells its product to a domestic customer, which in

turn e%ports the product, either in its original form or a modified form.#iff& 1 !age (ef& /'



116) What is an intracorporate transfer?Answer& An intracorporate transfer is the sale of goods b" a firm in one countr" to an affiliated

firm in another.

#iff& 1 !age (ef& /$kill& AA$B& lobaliation



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1') What are the advantages and disadvantages of international licensing?

Answer&


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1) E%plain the licensing process.

Answer& 7n a licensing agreement, the licensor leases the rights to use its intellectual propert" to

the licensee. ;he licensee uses the intellectual propert" to create products for local sale. 7t thenpa"s a ro"alt" back to the licensor. ;he licensor is able to earn new revenues with relativel" low

investment.

#iff& ' !age (ef& /5*b+ective& 1'./& 7dentif" the basic issues in international licensing and discuss the advantages


13) #escribe the specialied entr" modes for international business.

Answer& ompanies can take advantage of international business opportunities without making

long2term investments b" using specialied entr" modes like contract manufacturing,management contracts, and turnke" pro+ects. ontract manufacturing involves outsourcing

manufacturing to other companies. A management contract is an agreement whereb" one firm

provides managerial assistance, technical e%pertise, or specialied services to a second firm forsome agreed2upon time in return for monetar" compensation. A turnke" pro+ect is a contract

under which a firm agrees to full" design, construct, and e:uip a facilit" and then turn the pro+ect

over to the purchaser when it is read" for operation.#iff& 1 !age (ef&




14) What specific issues must be addressed in a detailed legal contract for an international

licensing agreement? #iscuss the importance of each one.Answer& ontracts for licensing agreements must include the boundaries of the agreement. ;he

licensor and licensee must determine which rights and privileges are and are not being conve"ed

in the agreement. ;his protects both parties. ompensation must also be set out in the agreement.;he ro"alt" amount @or method of determination) as well as a minimum ro"alt" pa"ment should

be specified. ;he rights, privileges, and constraints should be addressed in the contract. ;his

protects the image of both companies and ensures the appropriate :ualit" level. inall", thelength of the agreement must be stated.

#iff& ' !age (ef& 9


*b+ective& 1'./& 7dentif" the basic issues in international licensing and discuss the advantagesand disadvantages of licensing.

15) ompare and contrast the three forms of foreign direct investment.Answer& ;he three methods are building new facilities or making a greenfield investment,

bu"ing e%isting assets or making an ac:uisition, and participating in a +oint venture. Building

new facilities allows a firm to select the best possible site and construct the best facilit".owever, it does re:uire time and patience. Ac:uisition provides :uick control and the abilit" to

continue to generate revenues. oint ventures are created when two or more firms agree to work

together and create a +ointl" owned separate firm to promote their mutual interests.

#iff& 1 !age (ef& 4$kill& AA$B& lobaliation



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16) What are the advantages and disadvantages of ac:uisition?

Answer& When a firm ac:uires another compan", the firm obtains control of the ac:uired firm0s

factories, emplo"ees, technolog", brand names, and distribution networks, and can continue togenerate a revenue stream while the new operations are being integrated into the e%isting ones.

Ac:uisition is also attractive because it maintains industr" capacit", and because it allows a firm

to :uickl" establish a presence in a foreign market. owever, when a firm makes an ac:uisitionit needs large sums of mone" and also gains the liabilities of the ac:uired firm.

#iff& !age (ef& 4

$kill& AA$B& lobaliation*b+ective& 1'.4& haracterie the greenfield and ac:uisition forms of #7.

INTERNATIONAL BUSINESS CHAPTER 12

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