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SVC > International Business Final > Flashcards

International Business Final Flashcards

1
Q

Question 1

A

A

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2
Q
  1. Import codes vs Export codes
A

Export Schedule B, Import HTSUS

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3
Q
  1. US commercial service - What is the gold key service
A

offered by uscs is useful for identifying an appointments setting with potential foreign partners

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4
Q
  1. SWOT Analysis - good business plan contains
A

Strengths Weaknesses Opportunities Threats

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5
Q
  1. How to gain insight tips for US Companies selling into foreign country
A

Commercial service Commercial Service Country Commercial Guide

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6
Q
  1. A restaurant chain wants to expand internationally but doesn’t want risk of owning foreign asset A resta
A

Licensing

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7
Q
  1. all things being equal, what product policy would an international firm prefer to pursue, everything custom or standard
A

Standardisation

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8
Q

8 What is a distributor and what does it do

A

international distributor purchases products and services from the US company and then resells them to customers in one or more foreign countries.

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9
Q

When do you do EEI filing

A

for any shipment when a single commodity value is 2500 or greater

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10
Q

What should you do when there are two possible GS codes

A

Review the section and chapter notes for clarification

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11
Q

Balance sheets

A

Assets = Liabilities + Equity

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12
Q

What does confirming a letter of credit mean?

A

if a company is not comfortable with risk associated with foreign bank they would ask local bank to confirm the Letter of Credit

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13
Q

What does a freight forwarder do?

A

They are a consolidator of freight and because of consolidation they offer savings

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14
Q

What’s qualitative and quantitive research

A

quantity/how much. Quality is more subjective – a company conducts a focus group in a foreign market place and they want to gain insight into customers opinion of what a successful life means in th

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15
Q

Which US agency enforces trade embargoes

A

The office of foreign asset controls

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16
Q

A company considers whether to enter a particular country, worried about IP rights within a specific country

A

They are worried about a country risk

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17
Q

A letter of credit

A

Is a term of payment

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18
Q

What product should a country choose when they decide to go global

A

one that has the highest value added and that represents core competencies of the firm

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19
Q

Legal system based on religious precepts

A

Theocratic

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20
Q
  1. If a company needs to know which language to translate their commercial invoice into the resource that would be the most helpful
A

country commercial guide

21
Q

Pre-export financing

A

SPA

22
Q

Laws organised into codes

A

Civil system

23
Q

Which incoterm places the most responsibility on the importer

A
24
Q

Import duties

A

Are a tariff barrier

25
Q

Piggyback exporting

A

Piggyback marketing is an arrangement in which one manufacturer or service firm distributes a second firm’s product or service. The most common piggybacking situation occurs when a U.S. company has a contract with an overseas buyer to provide a wide range of products or services.

26
Q

Know what the PIERS database is useful for

A

PIERS collects import/export data from Bills of Lading for all waterborne cargo vessels that enter or exit U.S. ports. This data is analyzed and augmented with supplementary datasets to produce the PIERS trade intelligence data resources.

27
Q

Companies seeking information on the credit worthiness of a foreign buyer may use reports from which organisations

A

Graydon or Coface

28
Q
  1. a key feature of a futures contract vs a forward contract
A

A forward contract is a private and customizable agreement that settles at the end of the agreement and is traded over the counter. A futures contract has standardized terms and is traded on an exchange, where prices are settled on a daily basis until the end of the contract.

29
Q

what is a bill of lading

A

A bill of lading is both a receipt for cargo and a contract for the transportation of goods

30
Q

Patents

A

First to file, not automatically protected elsewhere

31
Q

CE mark

A

Is a safety standard

32
Q

UCP

A

Governs letters of credit

33
Q

Grey marketing

A

Selling a product outside manufacturers distribution channel

34
Q

Harmonised codes are harmonised globally to…

A

6 digits

35
Q
  1. Does a Free trade agreement guarantee a zero duty
A

no not automatic but gives greater freedom and movement of goods with lesser or no tariffs. Certificate of origin for preferential treatment

36
Q

High context society

A

High-context cultures are cultures in which subtlety and collective understanding rule the day - eg. family high context, airport low context

37
Q
  1. Ethnocentric manager
A

Would implement management decisions that mirror their own culture

38
Q

Expropriation

A

The action by the state or an authority of taking property from its owner for public use or benefit.

39
Q

EAR99.

A

export license is not required but DPL (denied party list) is not waved

40
Q

Which foreign partner gives most control over pricing

A

Agent

41
Q

KOMPASS

A

Database/marketing data provider that offer an online digital directory

42
Q

What is a trade mission

A

government officials and businesspeople from one country travel to another to promote trade between the two. Trade missions are usually organized by national or provincial governments. - ????

43
Q

Vertical vs Horizontal trade show

A

Vertical focused on one type of product or market, horizontal wide variety of products and markets

44
Q
  1. What is a global trend concerning consumer behaviour
A

– people like the same things globally, customers demanding same types of products

45
Q

Difference between Drayage and Demurrage

A

Demurrage is the charge that is payable to the owner of a chartered ship in respect of failure to load or discharge the ship within the time that was allotted. Drayage involves the transportation of goods a short distance

46
Q
  1. Which of the following is not a necessary condition for a company to be ready to go global
A

foreign language ability

47
Q
  1. Documentary collection
A

the sight draft needs to be consigned to the bank, not freight forwarder

48
Q
  1. C-TPAT
A

benefit is to lower inspection rates

49
Q
  1. Main things to have to go global
A

management commitment

SVC (9 decks)

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