Study Guide for Chapters 10-16 Chapter 10 1. Know what fixed and floating exchange rates refer to, their advantages and disadvantages and the rationale for each . 2. Understand what is meant by the term “gold standard.” 3. Know what the roles of the IMF and World Bank are and how they implement those roles. 4. Know what the fundamental cause was for definitively leaving the gold standard. 5. Continue to understand the relationships between money supply, inflation, currency value as it relates to the discussion on exchange rate volatility sinice 1973. 6. Know how a currency board operates to control its currency value. 7. Be able to state what the common issues were that underlay the financial crises in Asia and Mexico. Chapter 11 1. Know what the terms experience effects and location economies refer to. 2. Understand the points relative to leveraging core competencies and subsidiary skills. 3. Know what the two main different pressures that firms must respond to depending on their market objectives. 4. Know what the strategies are that reflect those differences. 5. Know generally what industries or firms are that typically reflect those strategies and why. 6. Know what the advantages and disadvantages are of strategic alliances and what the general principles are that increase the probability of an alliance working. Chapter 12 1. Know the advantages and disadvantages of each major type of market entry. 2. Know what the major issues are that determine the advantages and disadvantages of the different market entry methods. Chapter 13 1. Know what the various components are and the process of using those components for importing and exporting (letter of credit, etc. and what happens when). 2. Be able to state what the principles are that help ensure export success. 3. Know the terms counter-trade and switch trading. Chapter 14 1. Know the factors that influence whether a firm should centralize or decentralize its manufacturing operations. 2. Know the advantages and disadvantages of the “make-or-buy decision.” Chapter 15 1. Know the different ways market segmentation can be made. 2. Know what mandatory and discretionary adaptation refer to and be able to give examples of each. 3. Know what the primary cultural issue is that impacts product acceptance. 4. Understand the factors that are related to distribution strategy. 5. Know the factors that affect promotion strategy (cultural barriers, etc.) 6. Know the factors that affect push and pull strategies. 7. Know the arguments for and against standard advertising. 8. Know the different pricing strategies and when they apply Chapter 16 1. Know the advantages and disadvantages of ethnocentric, polycentric, and geocentric staffing practices. 2. Know the major problems with expatriate and repatriate management and the “best practices” in these areas also. 3. Know the principal advantages that expatriation brings to the individual and firm.
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