国际商务(英)习题答案

国际商务英语谈判答案(全)Keys to the exercisesChapter 1 Fundamentals of International Business Negotiation Communication Exercises1. Change the sentences from negative to positive.1) I want a job.2) I work hard.3) My job is terrific.4) This office is great.5) My co-workers are super.6) The Personnel Director is nice.7) My health is good.8) My attitude is positive.9) I make a good impression.10) I understand.2. Change or add to these sentences so that they do not just state what you want, but invite your negotiating partner’s opinion.a) Could we finish at five---if that’s all right with you?b) I hope you don’t mind if Miss Li sits in during the negotiation?c) Perhaps we could take a break now. Is that OK?d) Could we look at these three areas this morning?e) I would like to go through the written offer clause by clause, if that’s OK?f) Do you mind if I answer your questions at the end?3. What is meant by “negotiation”? How would you define “negotiation”?A nego tiation is a meeting in which both parties need each other’s agreementto reach a specific objective. It is the mechanism by which people trade things of value in a civilized manner. Negotiation depends on communication.It occurs between individuals acting either for themselves or as representatives of organized groups. Negotiations are very much part of working and home life. Negotiations could be either internal or external, long or short, formal or informal. The goal of negotiation is not to win but to succeed. The mechanism of successful negotiation is collaboration.In negotiations, both parties should know----why they negotiate----who they negotiate with----what they negotiate about----where they negotiate----when they negotiate----how they negotiate1) T 2) T 3) T 4) F (Everything is negotiable.)5) F (bargaining stage)6) F ( Do not often. Sometimes they will follow the sequence n one aspect of thedeal and then start all over again on a second aspect.)7) T8) F (May not. Because either side may be wiling to say what it thinks or takea position and stick to it )9) T 10)Negotiation skills1．What determines a success in negotiation? Success in negotiation is when the parties to the negotiation reach an agreement to which they are both committed and which they will implement in full.committed [] v.----尽责的implement [] v.----to put into practical effect; carry out 使生效；执行2. What are the elements of a successful negotiation process？There are seven basic elements that should be considered when analyzing the negotiation process:a.The relationship among the parties.b.The parties' interests -- why they need to reach their stated objectivesc.An understanding of the choices available if the parties cannot reachagreement, often called their BATNA -- Best Alternative To a Negotiated Agreementd.Creativity which will expand the bargaining choices among which theparties can choose to reach agreemente.Fairness -- a person who negotiates unfairly may be able to force anagreement, but the 'forced' party will be reluctant to fulfill their share of the agreementf.Whether commitment has been reached. Will the parties each feelcommitted to doing what they have agreed? Is each party capable of fulfilling their share of the deal?g.Negotiation is all about communicating information. If one party knowseverything then why do they need to negotiate with anyone else?And the foundation of good negotiation is preparation. Be prepared and the negotiation will bring a result that really works. If well prepared you areless vulnerable to surprise, and that increases the likelihood you'll be happy with the result.vulnerable [] adj.----易受攻击的, 易受...的攻击3. Your client comes into your office and is exceedingly grumpy and difficult to talk to. How do you approach your client so as to make your meeting as productive as possible?Answer: (e)When the client is grumpy, their emotions will inevitably cloud their judgment and make it difficult to interact with them on substantive matters.At the same time, if they are experiencing anger, it is important to ensure them that we understand that they are upset. By acknowledging the client's anger and offering our assistance, the client will feel as though we are on the "same side" and treat us as friends and continue to direct their anger elsewhere- allowing us to focus on the substantive issues.substantive [] adj.----of or relating to the essence 实质的Chapter 2 Proper Behaviors in International Business Negotiation Communication Skills1. What would you say if…a.Thank you./No, after you.b.Thanks. I’ll need it.c.Thanks. That’s very kind.d.Thanks for coming all the way.e.Thanks for helping. That was very kind of you.f. Thank you for thinking of me, but I’m afraid I can’t take it.2. Answer the following questions.(1) Only about half of what he or she heard(2) Not only does note taking force you to listen carefully, but it alsopsychologically throws the speaker off the balance when he or she sees you nodding and furiously writing away and having a record of all the facts and basically everything said. A further benefit of note taking is that you have the perfect excuse to avoid eye contact if you are afraid to reveal your reactions to someone’s proposals(3) Questions appear to be able to be divided into five basic functions:①Cause attention.②Get information.③Give information.④Start thinking.⑤Bring to conclusion.(4) There are two ways to assure a high degree of reliability for answers toyour questions. One way is to lay the foundation for asking them. The second is through the use of the tactic called “bipolar questioning.”(5) A firm handshake gives the impression of quiet confidence and says thatthis person is glad to meet you.3. Choose the best answer.(1) D (2) C (3) B (4) A (5) (6) D (7) B (8) C (9) A (10)A4. Translate the following into English.(1) There’s a great demand for our new product.(2) This product has good prospects.(3) We need to talk about the basic terms of the transaction.(4) If your prices are reasonable and the quality is satisfactory, we shallplace substantial orders with you.(5) It’s unwise for both of us to insist on his own price. Can we each makesome concession?(6) If you cannot reduce your price, we’d rather call the whole de al off.(7) If you want to expand your business in this market, you have to takeflexible ways in adopting payment terms.(8) We regret that we cannot accept your demand for direct shipment.(9) This product has many advantages compared to other competing products.(10)I’m very glad that we have finally come to an agreement. We’ll go on toother terms and conditions tomorrow. Is it all right with you?5. True or false.(1) F (2) T (3) F (4) T (5) F (6) T (7) F (8) F (9) F (10) T Negotiation Skills1. The person you are negotiating with continually repeats the same argument despite the fact that you have given them a number of counterarguments. What do youdo to move the negotiation forward? Answer: (a)One of the most powerful tools in negotiation is how to listen to what the other party is saying. Very often, we are too focused on the points we are trying to get across to listen to what our counterparts are trying to say.If people keep repeating themselves, they are subconsciously sending a signal that they feel what they are saying is important. And they want us to acknowledge that we have heard and understand them.Accordingly, the best thing to do in this situation is to rephrase what they keep repeating and ask them if we have accurately restated their point. Only when they feel as though they have been heard will they be able to listen to usEffective listening involves much more than simply hearing and understanding what the counterpart is saying. Effective listening isa set of tools and techniques which expertnegotiators use to gain control of the negotiation and turn it to their advantage.2. What are the key communication skills used in negotiation?The key communication skill in negotiation is to listen. There's an old saying: God gave us one mouth and two ears, and we should use them in that ratio.Obviously when we are listening, we need to be listening for useful information. Thus it is very important to plan ahead, thinking about what we can learn that will help us decide what approach to take and to learn about what appeals to the parties with whom we are negotiating. So think about the questions you're going to ask; the result should reward your listening with real problem-solving information.Chapter 3 Choosing the Negotiation TeamCommunication Exercises1. What is the more indirect question or statement behind the following sentences?a. I’m not entirely convinced by these forecasts.b.We’d like to know something about your planning.c.I’d be interested to hear a bit abou t payment.d.Your costs could cause one or two problems.e.Perhaps we could talk a little bit about figures.f.That figure looks a little on the high side.g.Delivery is an area which we’d like to explore a little further with you.h.I’d like to know more about your management structure.1.Write the name of the position in the blank.1) CEO/the president2) Assistant Manager, Europe3) Purchasing Clerk4) Personnel Assistant5) Vice-President, Administration3. (omitted)4. (omitted)5. Fill in the blanks1）maximum2) observers; advisers; speaking; training6. Translate the following into English1）Negotiation is a team sport.2）The negotiator’s function is to negotiate, while the functional specialists provide specialist advice or information.3) The team leader is the person who generates enthusiasm in his team tomaintains the morale under all conditions.4) The team members must learn that the opponent and its representativesare adversaries although they may be friendly.5）I’m afraid you are not in our ballpark.6) Excuse me, but it seems to me we’re giving up too much in this case.7）That’s to o great a financial burden for us.8) 10% is beyond my negotiating limit.9）If you can guarantee that on paper, I think we can discuss this further.10）Could you explain what you mean by that？7. True or false1). F 2). T 3). T 4). F (maximize) 5). T 6). F (can’t)7). F (both sides) 8). T 9). T 10). F(There is no need to )Negotiation skills1. What do you think are the personal qualities of a good negotiator?A good negotiator needs to be:1)A good listener2)Open-minded3)Willing to do the homework to determine her/his interests,objectives, and alternatives4)Well-prepared5)Creative6)Able to merge what he knows about his own interests andresources with the interests and resources of his negotiationpartner7)Someone who is always learning from experience, from otherpeople and from historymerge [] v. ----to combine or unite 使合并或结合2. How to be a cool negotiator?Acting cool is a good part of successful negotiation. But one needs to make sure it is not just an act. The 'coolness' needed for successfulnegotiation really means keeping a cool analytical head. If there is anychance one should prepare ahead of time: what do I want and why do Iwant it? What do they want and why do they want what they want?During the process, one should find ways to take a step back from thediscussion and look at what is going on with that same cool head. 'Why did he say that? What arguments or tactics are being used?3. How to control anger for effective negotiating?When tempted to get angry, remember to check whether or not it is yourturn. If it is someone else's turn to get angry, sit there and take it byreminding you how wonderful you are to be in such control of youremotions.One fundamental rule is: only one person can be angry at a time. Don't let the situation escalate, civility will slip away awfully quickly and there willbe a very tough time healing the relationship or solving the initial issue. civility [] n. ----a courteous act or utterance有礼貌的举止或表达4. What are the advantages and disadvantages of team negotiations?Negotiating as part of a team requires very careful preparation. The biggest danger in team negotiation is that your counterparts will see or hear thatyou and your colleagues don't agree with each other. If they can finddifferences, they may spot opportunities to drive wedges between your team members.wedge [] n.----something that intrudes and causes division or disruption侵入引起分裂的东西Teams can work together ahead of time on strategy: who is going to be the spokesperson on which issues? What information do we need and who isgoing to ask the relevant questions? Who can communicate what decisions to the 'other side'? What members of the team are the experts on technical matters, business matters, etc.?But even if a group of colleagues work hard at developing a commonlyagreed strategy you will find that, there is still a risk that someone will say something out of turn or which is not part of his role. They need to explore how to cope with such problems during the actual negotiation.Individual negotiations have certain other advantages: the negotiator can present him/herself as the decision-maker or as the spokesperson for their company or colleagues. This gives the individual negotiator considerableflexibility that may not be available in team negotiation situations.Chapter 4 Preparing for NegotiationCommunication Exercises1. What would you say in these situations?1) Mrs Zhang, I’d like you to meet Tr acy Morris. She’s our new sales clerk.2) Hello, Kathy. Nice to meet you.3) That’s right. Yes, we once worked together in.4) I’m terribly sorry. I’ve forgotten your name.5) Yes, good morning. My name is … I’ve got an appointment with…6) Did you have a good journ ey? It’s very nice of you to come all this way.7) Would you like a coffee? Or Would you like something to drink?8) Good heavens, is that the time? I didn’t realize it was so late. I really mustbe going now.2. Make these sentences more concise1) He’s an assistant in Personnel.2) She’s the Vice-President in Sales and Marketing.3) He’s the Assistant Manager in Domestic Sales.4) She’s the Manager in International Sales.5) He’s an accountant in Accounting.3. Combine these sentences as concise as possible1) She is a clerk in Purchasing at ABC Company.2) He’s a salesman in the Asian Pacific Division at Sun Computer Company.3) She’s the Manager of Domestic Sales at Legend Group.4) He’s a secretary in Personnel at Huatian Hotel.5) She’s the Vice-President of Administration at Three-One Steel.4. Do you think all negotiations need an agenda? Who should be responsible for controlling a negotiation?Informal negotiations don’t need an agenda. In some cases, you are negotiating just one point. An agenda is often best negotiated rather than imposed at the start of a meeting. Usually the host company should be responsible for controlling the negotiation.5. How can you prepare effectively for a negotiation? What issues do you need to discuss beforehand?The essential preparation areas are firstly to ensure that everyone in the team is clear what the objectives of the negotiation are. The objectives include:What is the best we can get?What’s the worst we can get?What is our bottom line?And secondly, to establish the role that each individual is expected to play in achieving those objectives. Namely:Who is responsible for different stages of the negotiation?What special skills/knowledge do individual members of the team have?What do we know about the other team?It is important to discuss strategies beforehand and to decide on the approach the team is going to take which include:What are the main areas of negotiation?What are likely to be the sticking points?What is the best order to discuss these points?What concessions can we give to achieve our main aim?It is also essential to discuss the communicative ways like:how we are going to maintain positive communication,who is taking notes or minutes andwho is going to ask questions and so on.6. Put the following into English1）Please take a look at the itinerary we prepared for you, and let me know if there’s anything inappropriate, please let me know.2）We are holding a banquet here tonight in honor of our friends coming from the other side of the Pacific Ocean.3）I believe that through our joint efforts, our corporation can be satisfactory and successful.4）Let’s come to the point, the purpose of my current visit here is to explore the possibility of doing barter trade with you.5）T he contract will come into force from May 10, you can’t go back on your words then.6）We always fulfill our promise.7）Owing to our old relationship, we hold our offer valid for one other week, after which our price would probably be raised.8）I'll do my best; and please, try your best too.9）Your price is too high. It’s hard for us to accept.10）All our products are high-grade commodities; naturally the prices are different.7. True or false1) T 2) F 3) F 4) T 5) T 6) F (unwise) 7) T 8) T9) F (fluid) 10) T 11) F（round table）12) FNegotiation Skills1. In your opinion, what are the benefits of considering your own and others’ outcomes in negotiation preparation?The benefit of considering the outcomes for ourselves and others gives us an initial sense of 'what' people are looking for.It is far more important to look to the interests of the others. The question to ask is why do people want the outcome they are pursuing. It is easy to think of desirable outcomes in terms of money, which is in many cases what people want.When thinking ahead of time about others’ interests, we are making a series of assumptions. We should use the negotiation process to pursue the fundamental asset of negotiation, which is information. Are the assumptions accurate? If the interests assumed are 'out there', the answers we derive should yield a clearer understanding of the actual interests that motivate the parties and will lead to a successful agreement.2. How to measure a negotiator’s strengths and w eaknesses?In general, measuring a negotiator's strengths and weaknesses can involvea multiplicity of elements, but the most important are the following:1) A negotiator's relative strength is determined by the quality and extent of his preparation. The better one understand his/her interests and the better he/she understands the interests of other parties, the greater the chance he/she will be able to reach an elegant solution which leaves the parties feeling as if each has achieved the major portion of their goals.2) A negotiator's relative strength can be measured by whether people walk away thinking they would be pleased to negotiate with him again. That is to say----if people leave a negotiation thinking they never want to see him/her again, then he/she is a poor negotiator.3) A negotiator needs to understand that different issues should be treatedas of different priorities in different negotiations. Sometimes the relationship is most important; other times creativity is the measure of how well one negotiates. It is always true that good communication is fundamental of a negotiator's strength. A good negotiator makes his points clearly understood by other parties. A better negotiator makes understanding other parties his top priority.multiplicity n. ----the state of being various or manifold多种多样多方面或者多种形式Chapter 5 The Bargaining ProcessCommunication Exercises1. In the business world, everyone is very busy. Business calls are concise and “to the point.” Remember to be positive. Which is the b est expression?1) b 2) a 3) a2. Make proposals about the following:1) I think we should cut the training budget by five per cent.2) I suggest we aim for a two per cent rise in productivity.3) How about going for a meal after work?4)Why don’t w e go to the National Forest Park this year for the companyexcursion?5) I advise you to reduce production costs.6) I propose that we shorten working hours by two and a half hours per week.3. Use the conditional constructions (if…or unless…) to exert pr essure in the following situations.1) I’m afraid we’ll have to cancel the contract unless you reduce your fees.2) We’ll have to choose another supplier if you can’t pay us on time.3) That looks like the end of the negotiation, unless you can make a concession.4) I’m afraid you’ll lose your job unless you work harder.5) If you can’t offer me a better working condition than this, I’ll leave thecompany.6) I’ll accept the new job only if I get a higher pay.7) Unless you order 10,000 pieces of this product immedia tely, you won’tget a quantity discount.4. Once positions have been established in a negotiation, a process of making and responding to proposals usually follows. Which side (the customer or supplier) should start the process? What are the advantages of going first and second?The supplier will usually be expected to start this process the advantage is then given to the customer who doesn’t have t show his hand until he first hears what the supplier is proposing. On the other hand, making a proposal first may set the parameters for discussion and it could be an advantage if you want the negotiation to go in a certain direction.5. What can cause negotiations to fail? How important is it to maintain a positive tone throughout the meeting?Negotiations can fail for a variety of reasons:competitors offer a better deal;problems seem too difficult to solve;personalities clash;negotiating styles clash.Most negotiations will encounter difficult problems. There is a much greater chance that solutions will be found if both parties keep sight of the main objectives and maintain a positive tone.6. Fill in the blanks1). Assess，differences，strengths，next round；2). Fluid，escape routes，time breaks3).Bargaining to our advantage, the skilled negotiator will:a) outsetb) situationc) roundd) satisfactione) Bluff, brinkmanshipf) parallelg) impassesh) written, equal satisfaction7. Put the following into English1) I understand perfectly.2) Let's compromise.3) That's a smart decision.4) I expect to be compensated.5).The longer we wait, the less likely we will come up with anything.6) I'll be expecting your call.7) I'd like to get the ball rolling by talking about prices8) I know your research costs are high, but what I'd like is a 25% discount.9) We'd need a guarantee of future business, not just a promise.10) If you can guarantee that on paper, I think we can discuss this further.6.True or false1). F 2) T 3) F (positive tone) 4) T 5) T6) F (without comment)7) T 8) F (more ) 9) F (high) 10) TNegotiation Skills1. You are negotiating a major purchase, and the sales agent suggests a ridiculously high price which is far above your anticipated purchase price. How do you address the agent in order to get the best price?(b) and (d)The sales agent is trying to get started on the traditional positional bargaining philosophy of "start high, counter low and end up in the middle." In order to counter their attempts at positional bargaining, we should begin by asking them what the basis for their initial price was. This tactic will draw attention away from the initial price and create a focus on the criteria for determining a fair price. Next, we should suggest a price of our own, prove the offer with appropriate criteria and stick to our offer.2. Do you think it’s a good idea to raise the critical issue early in the negotiation? How would you handle the aggressive position immediately adopted by others?Most negotiators start by identifying the common ground. In other words, the points which both sides agreed on. Then have a firm basis to discuss problem areas. It is important that our team do not show too strong an emotional response to the other party’s aggression. Because they will see this as a weakness.3. How to deal with those who say " Our prices are set, we do not bargain "?Businesses were created to meet a perceived need in the marketplace.There are people who fear that if they negotiate, other parties will take advantage of them. This sort of thinking is the result of the belief that negotiation is a competitive process, and only one side can win.The Internet has created a variety of auction choices; many other companies always guarantee the lowest price. So price competition is far from dead. It is simply a matter of people’s choice. If you want to attempt to bargain for a better deal, don't do business with no-negotiation companies.Chapter 6 Closing the NegotiationCommunication Exercises1. A positive comment makes people comfortable and ready to listen. Rewrite these sentences.1) Thanks for your understanding. I really appreciate it.2) Thanks for meeting me at the airport. I really appreciate it.3) Thanks for coming early. I really appreciate it.4) Thanks for working overtime. I really appreciate it.5) Thanks for your cooperation. I really appreciate it.2. A polite way to correct someone is to make the correction impersonal. Try not to use the word you. Which is a more polite correction?1) b 2)b 3) b 4) b 5) b 6) a 7) b 8) a3. Look at the expressions below. Which of them would you use to express each of these ideas in negotiating?What would you say in negotiating…if you’ve not understood an explanation? (10)when you want to complain indirectly to someone? (7)if you do not want to accept the advice someone is giving you? (5)when you want to tell someone something? (1)when you wish to agree with someone? (2)when someone you already know is introduced to you? (6)if you want to interrupt someone? (8)when it’s unlikely that you can do something? (3)when you would like a person to do something for you? (9)when you want to give someone some information? (4)4. Make these statements into proposals and suggestions. Be inclusive---use we rather than I. Try to word your sentences so that they encourage feedback.a. Let’s start by looking at the sales figures.b. Perhaps we should identify who our main competitors are first.c. Wouldn’t you agree that timing is essential?d. We think the main problem is the security system. Would you agree?e. Shall we discuss delivery issues at the end?5. Match each underlined expression (a-d) with its meaning from the expressions below and use the appropriate form of one of the expressions to complete the sentences(e-h).a. reduce our pricesb. a bargaining zonec. contingency pland. a tough negotiatore. room to manoeuvref. knock us downg. drives a hard bargainh. fall-back position6. What should happen at the end of a negotiation? What issues need to be agreed on before closing the meeting?It is important to round off a negotiation well, so that nothing remains ambiguous. Before closing the negotiation, the participants need to confirm what exactly has been achieved. They need to agree on future follow-up action and, if possible, set a date for the next or future meetings.7. What steps do you go through to close a negotiation effectively?To close a negotiation effectively we should do the following steps:1) Summarizing---summarize issues discussed---confirm objectives attained---state areas where you have yet to reach agreement or where further discussion is needed2) Follow-up action---delegate responsibility for follow-up action and set time-scale---minute or document decisions3) Departing---confirm arrangements for next meeting (if there is to be one)---chairperson thanks participants for coming8．Fill in the blanksunsuccessful, close, maximum, enough, agenda .9. Put the following sentences into English1)I think we have discussed most of the key issues today.2) That takes care of business for today.3) We can work out the detail next time.4) We have done a lot.5) It's party time.6) If there are still unanswered questions, I will be happy to help.7) I think we should meet again.8) Is a week too early to meet again?。

广东外语外贸大学公开学院辅导资料国际商务英语试卷（一）课程代码：05844I. Translate the following words and expressions from English into Chinese （10%）1.International business2.GDP3.Free trade area4.Multinational corporation5.Specialization6.specific duty7.roll on roll off8.EDI9.article number10.auctionⅡ. Translate the following words and expressions from Chinese into English （10%）11.返倾销12.最惠国条款13.贴现14.充分就业15.保兑信用证16.零库存17.代位，取代18.保护主义19.免除条款（豁免条款）20.证券交易所Ⅲ.Match the words and expressions on the left with the explanations on the right （10%）21.contracting party a. amount above what is estimated as necessary22.gilts b. a business concern owned or controlled in wholeor in part by another concern23.cyclical c. recurring in cycles24.affiliate d. stocks issued by government25.legal action e. an action taken against some one in accordancewith the law.26.margin f. a country or firm that signs a legal agreement27.pooling g. a trace of land including its buildings28.verified data h. a set of international rules for the interpretation oftrade terms29.Incoterms i. authentic materials30.premises j. a combination of funds formed for common advantageⅣ. Make brief explanations of the following terms in English（10%）31.MFN32. Invisible trade33.firm offer34.open account35.L/CⅤ. Answer the following questions in English（20%）36. Was China a low -income country a few years ago? How about now?37. Can you explain the word “negotiable” in the p hrase “negotiable transport? document” ?38. What is the most common form of non-tariff barriers? Explain it in a few words.39. What is economy of scale? What is the relation between economy of scale and trade?Ⅵ.Translate the following into Chinese（15%）40. Documentary collection is a means of ensuring that the goods are only handed over to the buyer when the amount shown on a bill of exchange is paid or when the customer accepts the bill as a contract to pay by a specified date.The exporter sends the bill of exchange and the shipping documents to his bank, which forwards them to a bank in the customer’s country. This bank, or the exporter’s agents in the country concerned, takes the documents to the customer. If it is a sight bill the customer pays the amount directly. If it is a time bill he signs the bill, which means he has “accepted” it for payment within a certain specified time. In return for either payment or acceptance of payment, the customer is handed the shipping documents which give title to the goods.Ⅶ. Translate the following into English（25%）41. 在国际贸易中进出口双方都面临风险，因为总存在对方不履约的可能42. 对于一笔具体交易来说，信用证不一定是最理想的付款方式。

Chapter1 international business商品交换或交易exchange or trade for goods 世界经济舞台the world economic scene 国外直接投资foreign direct invest 多国企业multinational enterprises 商业和投资银行commercial investment bank 有价证券投资portfolio investment 金融风险financial risk 交付差额balance of payment 法律文件legal document 有效经营effective operationChapter2 business organizations独资商sole proprietorship 普通合伙商general partnership 法人fictional person 合股公司joint stock company 董事会board of directors 国有公司public corporation 资本摊缴capital contribution by partners 多数股权controlling interest 优先股股东preferred stockholders 公司章程articles of corporationChapter3 ways of business最终消费者（用户）ultimate consumer 增值价值value added 批发商wholesaler 产品花色品种product assortment 地方效用place utility 邮售mail order selling 专业商店specialty store 现金流量cash flow 存货控制inventory control 市场分区（分片）market segmentation Chapter4 a guide to economics总体运行：overall operation 宏观经济学：macroeconomics 微观经济学：microeconomics 通货膨胀：inflation 扩展性的货币政策：an expansionary monetary policy 紧缩性的货币政策：a restrictive monetary policy 货币流通：currency circulation or circulation of money 货币投放量：the size of money supply 经济萧条：economic depression 均衡数量：equilibrium quantity Chapter5 the market economy 市场经济：the market economy 计划经济：planned economy 股市：stock market 经济力：economic forces 供给力：supply forces 需求力：demand forces 经济体系：economic system 市场价格：market price 供求均衡：the equilibrium of supply and demand 购买力：buying power 供给量：the quantity suppied价格体系：price system Chapter6 what is marketing营销观念marketing concept 服装零售商retail clothier 购买动机motivation to purchas 最终用户final user 非赢利性机构nonprofit institution 采购制度purchasing system 产品规格product assortment 招标request bids 低价产品low -price product 可自由支配的收入discretionary income 多人挣钱型家庭multieaners families 价格和质量比较投币式自动售货机veding machines 营销调研marketing research Chapter7 the marketing mix & product promotion营销战略marketing stategy 促销产品策划品牌名称市场总销售产品生命周期分销渠道中间商批发商促销技巧成功地进入国际市场熟悉外国文化的人们与顾客沟通的主要方式促销策略对他们广告竞赛的成功很关键特定的出口市场其他广告和促销的形式有价值的建议要设计得能吸引顾客的注意力海外销售代理广告对消费品的销售作用很大我们应该十分重视产品的包装不同国家具有不同的购买习惯一般说来，美国公司的广告费用要占销售额的5%以上电视是一种很有效的广告媒介Chapter8 international payment & settlementAlthough China has enacted the bill of exchange law，it would still be useful to know something about Article 3 of the Uniform Commercial Code （UCC）—Commercial paper of the United States since most of our international payment instruments are denominated in the U.S Dollar . Article 3 of the UCC defines the terms of commercial paper and set forth the rights and liabilities of all the parties who deal with drafts，checks，notes and certificates of deposit . If an instruments does not meet all the requirements listed at the beginning of this unit，is it not a negotiable one under the terms of the UCC，though the parties involved may still be willing to use and accept it.However，the “Non-negotiable instrument” is treated still as a negotiable instrument so far as its form permits. Since it lacks of negotiability，there can be no holder in due course of such an instrument. Any provision of any selection of the UCC—Commercial Paper peculiar to a holder in due course cannot apply to it. With this exception，such instruments are covered by all sections of the Article 3 of UCC. 翻译：虽然中国已经颁布了票据法，但了解一下统一商法法典——美国商业票据的第三款仍是有用的。

International Business EnglishLesson 1International BusinessBusiness Knowledge:The major differences between international business and domestic businessA.Differences in legal systemsB・ Differences in currenciesC.Differences in cultural backgroundD.Different in natural and economic conditionsThe major types of international businessA.Trademodity tradeb.Service tradeB.Investmenta.Foreign direct investmentb・ Portfolio investmentC.Other types3.Licensing and franchisingb.Management contract and contract manufacturingc.Turnkey project and BOTTrade Terms:1.Customs area 关税区：2.Conversion货币兑换3.Visible trade 有形贸易：The form of commodity trade, i.e. exporting andimporting goods produced or manufactured in one country for consumption orresale in another. (including cash transaction-by means of money and market, and counter trade)4.Invisible trade 无形贸易：The form of transportation, communication, banking,insurance, consulting, information etc. is called invisible trade or service industries.5.FD1 外国直接投资：Foreign direct investments. Returns through controlling theenterprises or assets invested in a host country. / P.256. One country acquires assets in a foreign country for the purpose of controlling and managing them.6.Portfolio investment 证券投资：Purchases of foreign financial assets for a purposeother than controlling.7.Stocks 股票：Capital stocks or bonds.& Bonds 债券：The papers issued by a government or a firm with promise to pay back the money lent or invested together with interest・9.Maturity （票据等）到期10.Certificate of deposit 人额存单11・Licensing 许可经营：In licensing, a firm leases the right to use its intellectual property to a firm in another country. They choose licensing because they do not have to make cash payments to stat business, and can simply receive income in the fonn of royalty・12.Franchising 特许经营：Under franchising, franchisee is allowed to operate in thename of another, franchiser who provides the former with trademarks, brand names, logos and operating techniques for royalty・13.Trade Mark 商标14.Patent 专利15.Royalty专利（许可）使用费，版税16.Copyright 版权17.Licenser 许可方1& Licensee被许可方19.Franchiser 特许方：A firm who provides the franchisee with trademarks, brandnames, logos and operating techniques for royalty・20.Franchisee 被特许方：A firm is allowed to operate in the name of anothe匚21.Management contract 管理合同：Under a management contract, one companyoffers managerial or other specialized services to another within a particular periodfor a flat payment or a percentage of the relevant business volume・22.Value chain 价值链23.Turnkey project"交钥匙”工程：For an international turnkey project, a firmsigns a contract with a foreign purchaser and undertakes all the designing,contracting and facility equipping before handing it over to the latter uponcompletion.)24. |B OT建设、经营和移交:Build, Operate, Transfer25.Expertise专门知识26.Bonus红利、奖金、津贴27.Royalty许可使用费28.International investment 国际投资：Supplying capital by residents of onecountry to another.29.Contract manufacturing 承包牛产3(). GATT 关贸总协定：General Agreement on Tariffs and Trade31.International business 国际商务：Transaction between parties from differentcountries. Sometimes business across the borders of different customs areas of the same country is also regarded as import and export・32.Intellectual property 知识产权33.Oil deposit:石油储备=oil reserves34.the reserves of natural resources 自然资源储备35.Personal advancement个人的晋升，个人素质的提高以及个人事业的进步等。

国际商务英语第二版徐小贞答案1、pencil - box is beautiful. But ____ is more beautiful than ____. [单选题] *A. Tom's; my; heB. Tom's; mine; his(正确答案)C. Tom's; mine; himD. Tom's; my; his2、He used to get up at six in the morning,（)? [单选题] *A. used heB. did heC. didnt he (正确答案)D. should he3、23．Hurry up! The train ________ in two minutes. [单选题] *A．will go(正确答案)B．goC．goesD．went4、Actually, we don't know whether this news comes from a reliable（）or not. [单选题] *A. source(正确答案)B. originC. basisD. base5、---Excuse me sir, where is Room 301?---Just a minute. I’ll have Bob ____you to your room. [单选题] *A. show(正确答案)B. showsC. to showD. showing6、At half past three she went back to the school to pick him up. [单选题] *A. 等他B. 送他(正确答案)C. 抱他D. 接他7、Mary _______ a phone call with her mother now. [单选题] *A. will makeB. madeC. is making(正确答案)D. makes8、17．—When ________ they leave here?—Tomorrow morning. [单选题] *A．doB．will(正确答案)C．doesD．are9、I’m still unable to make myself_____in the discussion, which worries me a lot. [单选题]*A.understandB.understood(正确答案)C.understandingD.to be understood10、The people’s Republic of China _______ on October 1, 1 [单选题] *A. foundB. was founded(正确答案)C. is foundedD. was found11、The boy’s mother always _______ him a story before he goes to bed. [单选题] *A. saysB. speaksC. tells(正确答案)D. talks12、______! It’s not the end of the world. Let’s try it again.（）[单选题] *A. Put upB. Set upC. Cheer up(正确答案)D. Pick up13、This seat is vacant and you can take it. [单选题] *A. 干净的B. 没人的(正确答案)C. 舒适的D. 前排的14、98．There is a post office ______ the fruit shop and the hospital. [单选题] *A．atB．withC．between(正确答案)D．among15、You wouldn't have seen her if it _____ not been for him . [单选题] *A. hasB. had(正确答案)C. haveD．is having16、You can't rely on Jane as she is _____ changing her mind and you will never know what she is going to do next. [单选题] *A. occasionallyB. rarelyC. scarcelyD. constantly(正确答案)17、31．That's ______ interesting football game. We are all excited. [单选题] *A．aB．an(正确答案)C．theD．/18、—Do you like to watch Hero?—Yes. I enjoy ______ action movies. （）[单选题] *A. watchB. watching(正确答案)C. to watchD. watches19、--Is that the correct spelling?--I don’t know. You can _______ in a dictionary [单选题] *A. look up itB. look it forC. look it up(正确答案)D. look for it20、He is a student of _______. [单选题] *A. Class SecondB. the Class TwoC. Class Two(正确答案)D. Second Two21、He either watches TV _______ reads books in the evening. [单选题] *A. or(正确答案)B. andC. toD. so22、Location is the first thing customers consider when_____to buy a house. [单选题] *A.planning(正确答案)B.plannedC.having plannedD.to plan23、37．It’s fun _________ a horse with your best friends on the grass. [单选题] * A．to ride (正确答案)B．ridingC．ridesD．ride24、This message is _______. We are all _______ at it. [单选题] *A. surprising; surprisingB. surprised; surprisedC. surprising; surprised(正确答案)D. surprised; surprising25、He was born in Canada, but he has made China his _______. [单选题] *A. familyB. addressC. houseD. home(正确答案)26、_____from far away, the 600-meter tower is stretching into the sky. [单选题] *A. SeeB. SeeingC. To seeD. Seen(正确答案)27、This is the news _______ you want to know. [单选题] *A. that(正确答案)B. whatC. whenD. who28、—Who came to your office today, Ms. Brown?—Sally came in. She hurt ______ in P. E. class. （）[单选题] *A. sheB. herC. hersD. herself(正确答案)29、In the future, people ______ a new kind of clothes that will be warm when they are cold, and cool when they’re hot.（）[单选题] *A. wearB. woreC. are wearingD. will wear(正确答案)30、Everyone here is _______ to me. [单选题] *A. happyB. wellC. kind(正确答案)D. glad。

国际商务英语中级教材答案1、The boy lost his（）and fell down on the ground when he was running after his brother. [单选题] *A. balance(正确答案)B. chanceC. placeD. memory2、Tom’s mother will let him _______ traveling if he comes back?in five days. [单选题] *A. to goB. goesC. wentD. go(正确答案)3、（）, it would be much more sensible to do it later instead of finishing it now. [单选题] *A. FinallyB. MildlyC. Actually(正确答案)D. Successfully4、_______ win the competition, he practiced a lot. [单选题] *A. BecauseB. In order to(正确答案)C. Thanks toD. In addition to5、42．—________ meat do you want?—Half a kilo. [单选题] *A．How much(正确答案)B．How manyC．WhatD．Which6、She’s _______ with her present _______ job. [单选题] *A. boring; boringB. bored; boredC. boring; boredD. bored; boring(正确答案)7、Alice is a ______ girl. She always smiles and says hello to others.（）[单选题] *A. shyB. strictC. healthyD. friendly(正确答案)8、I do not have my own room,_____. [单选题] *A. neither does Tom(正确答案)B. neither has TomC. so does TomD. so has Tom9、Galileo was ____ Italian physicist and astronomer who invented _____ telescope. [单选题] *A. a, aB. the, theC. an, aD. an, the(正确答案)10、Tom and Mary's house bought last year is（）Lucy, s. [单选题] *A. the three size ofB. three times the size of(正确答案)C. as three times large asD. three times as larger as11、The students _____ outdoors when the visitors arrived. [单选题] *A. were playing(正确答案)B. have playedC. would playD. could play12、—Is this Tony’s history book?—No, it isn’t ______.（）[单选题] *A. himB. his(正确答案)C. heD. himself13、Before leaving the village, he visited the old house _____ he spent his childhood. [单选题] *A in which(正确答案)B. whichC. to whichD at which14、( ) What _____ fine weather we have these days! [单选题] *A. aB. theC. /(正确答案)D. an15、What lovely weather,（）? [单选题] *A.is itB. isnt it(正确答案)C. does itD.doesn’t it16、The man called his professor for help because he couldn’t solve the problem by _______. [单选题] *A. herselfB. himself(正确答案)C. yourselfD. themselves17、Nowadays more and more people travel by _______, because its safe, cheap and fast. [单选题] *A. footB. bikeC. high-speed train(正确答案)D. boat18、She _______ so much _______ her mother. [单选题] *A. looks; like(正确答案)B. looks; forC. looks; afterD. looks forwards; to19、It’s very hot. Please _______ your coat. [单选题] *A. look afterB. take off(正确答案)C. take onD. put on20、7．—________ is the Shanghai Wild Animal Park?—It’s 15km east of the Bund. [单选题] *A．WhoB．WhatC．WhenD．Where (正确答案)21、Hearing that he had passed _____ health examination, he immediately made _____ call to his parents. [单选题] *A. a; /B. the; /C. the; a(正确答案)D. a; the22、--Could you please tell me _______ to get to the nearest supermarket?--Sorry, I am a stranger here. [单选题] *A. whatB. how(正确答案)C. whenD. why23、You can ask（）is on duty there tonight. [单选题] *A. WhatB. whomC. whoever(正确答案)D. whomever24、Li Lei often takes a walk early ______ the morning.（）[单选题] *A. atB. onC. in(正确答案)D. for25、My sister gave me a _______ at my birthday party. [单选题] *A. parentB. peaceC. patientD. present(正确答案)26、They may not be very exciting, but you can expect ______ a lot from them.（）[单选题] *A. to learn(正确答案)B. learnC. learningD. learned27、Then the speaker _____the various factors leading to the economic crisis. [单选题] *A.went onB.went afterC.went into(正确答案)D.went for28、90．—I want to go to different places, but I don’t know the ________. —A map is helpful,I think. [单选题] *A．price(正确答案)B．timeC．wayD．ticket29、____ wants to see you. [单选题] *A. Somebody(正确答案)B. AnybodyC. All the peopleD. No people30、Study hard, ______ you won’t pass the exam. [单选题] *A. or(正确答案)B. andC. butD. if。

Key to the ExercisesUnit 1 Management and Managers管理和管理人员Part 1 ReadingText 1Pre-reading questions:1. M anagement is the organizational process that includes strategic planning, setting objectives, managingresources, deploying the human and financial assets needed to achieve objectives, and measuring results.Management also includes recording and storing facts and information for later use or for others within the organization.2. M anagement operates through various functions, often classifi ed as planning, organizing, staffi ng, directing andcontrolling.Text 2(1) D (2) F (3) B (4) A (5) CPart 2 ListeningI.Management1. Definition of management: Management is the process of working with and through others to achieve organizational objectives.2. Management skills: (1)Technical skills, (2)Human and communication skills, and Conceptual and(3)decision-making skills.3. Management functions: (4)Planning, (5)Organizing, (6)Leading, and (7)Controlling4. Management roles: (8)Interpersonal roles, (9)Information roles, and (10)Decisional roles.II.The Role of the Financial ManagerThe fi nancial manager acts as an intermediary between the fi rm’s operations and (1)capital markets, where the fi rm’s securities are traded. It was his job to trace the fl ow of cash from investors to the fi rm and back to investors again. First of all, he must understand how capital markets work. For example, suppose a fi rm chooses to fi nance a major expansion program by (2)issuing bonds. The fi nancial manager should have considered the term of the issue and concluded that it was fairly priced. And he should also have asked whether the fi rm’s stockholders would be made better or worse off by the extra debt standing between them and the fi rm’s (3)real assets. He should understand how corporate borrowing affects the value of the fi rm’s shares. The investment decision cannot be separated from capital markets either. A fi rm, which acts in its (4)stockholders’ interest, should accept those investments that increase the value of their stake in the fi rm. But that requires a theory of how (5)common stocks are valued.The fi nancial manager has to cope with (6)time and uncertainty. Firms often have the opportunity to invest inprojects which cannot pay their way in the short run and which expose therisk. The investment, if undertaken, may have to befi rm cannot walk away from such choices — someone has to decide whether the opportunity is worth more than it costs and whether the additionalMost of the time we assume that thethe fi rm. But thousands of people are involved in a large company. Each attends to his or her personal interests as wellPart 5 ExercisesI. Answer the following questions.略II. Tell whether the following statements are true or false.1. F2. F3. T4. T5. F6. TIII. Fill in the blanks with the appropriate form of the given words.1. rational2. empowering3. motivating4. Delegation5. micro-manage6. strategicIV. Fill in each blank with the most appropriate word given below in its right form.1. supervisor2. accountable3. diagnose4. administrator5. deploy6. rational7. empower8. delegation9. innovation 10. feasible11. in effect 12. hierarchy 13. discharge 14. fi nancial 15. executeV. Translate the following paragraph into Chinese.管理就像投资，它的目标是使资源得到最好的利用，增加最大的价值，取得最好的收益。

国际商务英语试题及答案一、选择题（每题2分，共20分）1. The term "FOB" in international trade refers to:A. Free on BoardB. Free of BoardC. Full of BoardD. Final on Board答案：A2. Which of the following is not a document required for exporting goods?A. Commercial InvoiceB. Packing ListC. Certificate of OriginD. Birth Certificate答案：D3. In international business, what does "T/T" stand for?A. Trust TransferB. Telex TransferC. Transfer TrustD. Telegraphic Transfer答案：D4. The most common method of payment in international trade is:A. Cash in AdvanceB. Letter of CreditC. ConsignmentD. Countertrade答案：B5. What is the meaning of "CIF" in international trade terms?A. Cost, Insurance, and FreightB. Cost, Insurance, and Freight to DestinationC. Cost, Insurance, Freight, and CommissionD. Cost, Insurance, Freight, and Taxes答案：A6. Which of the following is not a function of a commercial bank in international business?A. Letter of Credit IssuanceB. Foreign Exchange ServicesC. Insurance ServicesD. Documentary Collections答案：C7. The Incoterms rule that requires the seller to arrange for carriage but not insurance is:A. FOBB. CFRC. CIFD. CIP答案：B8. What is the abbreviation for "World Trade Organization"?A. WTOB. WBOC. WTOOD. WOT答案：A9. In international trade, the term "D/P" stands for:A. Documents against PaymentB. Direct PaymentC. Direct PurchaseD. Deferred Payment答案：A10. The document that proves the ownership of goods being transported is:A. Bill of LadingB. Air WaybillC. Sea WaybillD. Railway Bill答案：A二、填空题（每题2分，共20分）1. The ________ is an international treaty that governs the rules of international trade.答案：GATT2. When goods are sold on a ________ basis, the seller retains the title until payment is made.答案：Consignment3. The ________ is a type of documentary credit that allows the seller to draw the money before shipment.答案：Usance Letter of Credit4. In international trade, the ________ is the document that proves the goods have been loaded on board the vessel.答案：Bill of Lading5. The ________ is a document that lists the contents and details of each package in a shipment.答案：Packing List6. The ________ is a document that provides information about the origin of the goods.答案：Certificate of Origin7. The ________ is a document that shows the terms and conditions of a sale.答案：Sales Contract8. The ________ is a document that provides proof of insurance coverage for the goods being transported.答案：Insurance Policy9. The ________ is a document that lists the goods and their quantities, weights, and measures.答案：Manifest10. The ________ is a document that provides a summary of the financial transactions between the buyer and seller.答案：Statement of Accounts三、简答题（每题10分，共40分）1. Explain the difference between a "Proforma Invoice" and a "Commercial Invoice".答案：A Proforma Invoice is a document that serves as a preliminary invoice providing details about the shipment andis often used for customs purposes or as a reference for the buyer. A Commercial Invoice, on the other hand, is a legally binding document that outlines the terms of sale, includingthe price, quantity, and description of goods, and is usedfor customs clearance and payment purposes.2. What are the advantages and disadvantages of using aLetter of Credit in international trade?答案：Advantages include security for both the buyer and seller, as the payment is guaranteed by a bank, and itprovides a framework for the transaction. Disadvantagesinclude the cost of the bank fees, potential delays due to documentation issues, and the complexity of the process.3. Describe the process of a Documentary Collection in international trade.答案：In a Documentary Collection, the exporter ships the goods and submits the required documents to their bank, which then forwards them to the importer's bank. The importer'sbank releases the documents to the importer upon payment (D/P) or acceptance of a time draft (D/A).4. What is the role of a freight forwarder in international trade?答案：A freight forwarder acts as an intermediary between the exporter and various transportation services, arranging forthe transportation of goods, preparing necessary documents,。

国际商务课后习题参考答案集团标准化工作小组 [Q8QX9QT-X8QQB8Q8-NQ8QJ8-M8QMN]C h a p t e r1:G l o b a l i z a t i o n1. Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Great Britain North America Hong KongAnswer: The world economy has shifted dramatically over the past 30 years. As late as the 1960s, four stylized facts described the demographics of the global economy. The first was . dominancein the world economy and world trade. The second was . dominance in the world foreign direct investment picture. Related to this, the third fact was the dominance of large, multinational . firms in the international business scene. The fourth was that roughly half of the globe - the centrally planned economies of the Communist world - was off-limits to Western international businesses. All of these demographic facts have changed. Although the . remains the world's dominant economic power, its share of world output and world exports have declined significantly since the 1960s. This trend does not reflect trouble in the . economy, but rather reflects the growing industrialization of developing countries such as China, India, Indonesia, and South Korea. This trend is also reflected in the world foreign direct investment picture. As depicted in Figure in the textbook, the share of world output (or the stock of foreign direct investment) generated by developing countries has been on a steady increase since the 1960s, while the share of world output generated by rich industrial countries has been on a steady decline. Shifts in the world economy can also be seen through the shifting power of multinational enterprises. Since the 1960s, there have been two notable trends in the demographics of the multinational enterprise. The first has been the rise of . multinationals, particularly Japanese multinationals. The second has been the emergence of a growing number of small and medium-sized multinationals, called mini-multinationals. The fall of Communism in Eastern Europe and the republics of the former Soviet Union have brought about the final shift in the world economy. Many of the former Communist nations of Europe and Asia seem to share a commitment to democratic politics and free market economies. Similar developments are being observed in Latin America. If these trends continue, the opportunities for international business may be enormous. The implications of these shifts are similar for North America and Britain. The United States and Britain once had the luxury of being the dominant players in the world arena, with little substantive competition from the developing nations of the world. That has changed. Today, . and British manufacturers must compete with competitors from across the world to win orders. The changing demographics of the world economy favor a city like Hong Kong. Hong Kong (which is now under Chinese rule) is well located with easy access to markets in Japan, South Korea, Indonesia, and other Asian markets. Hong Kong has a vibrant labor force that can compete on par with the industrialized nations of the world. The decline in the influence of the . and Britain on the global economy provides opportunities for companies in Hong Kong to aggressively pursue export markets.2. "The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in smaller firms." Evaluate this statement.Answer: People who believe in this view, and the firms that they work for, may find that they do not achieve their full potential (at best) and may ultimately fail because of their myopia. As barriers to trade decrease and state of the art technological developments take place throughout the world, new opportunities and threats exist on a worldwide basis. The rise of the mini-multinationals suggests there are global opportunities even for small firms. But staying attunedto international markets is not only important from the perspective of seeking profitable opportunities for small firms; it can also be critical for long-term competitive survival. Firms from other countries may be developing products that, if sold internationally, may wipe out small domestic competitors. Scanning international markets for the best suppliers is also important for small firms, for if a domestic competitor is able to tap into a superior supplier from a foreign country, it may be able to seriously erode a small firm's competitive position before the small firm understands the source of its competitor's competitive advantage and can take appropriate counter actions.3. How have changes in technology contributed to the globalization of markets and of production Would the globalization of production and markets have been possible without these technological changesAnswer: Changes in technology have contributed to the globalization of markets and of productionin a very substantive manner. For instance, improvements in transportation technology have paved the way for companies like Coca-Cola, Levi Strauss, Sony and McDonalds to make their products available worldwide. Similarly, improvements in communications technology have had a major impact. The ability to negotiate across continents has been facilitated by improved communications technology, and the rapidly decreasing cost of communications has lowered the expense of coordinating and controlling a global corporation. Finally, the impact of information technology has been far reaching. Companies can now gain worldwide exposure simply by setting up a homepage on the Internet. This technology was not available just a few short years ago. The globalization of production and markets may have been possible without improvements in technology, but the pace of globalization would have been much slower. The falling cost of technology has made it affordable for many developing nations, which has been instrumental in helping these nations improve their share of world output and world exports. The inclusion of these nations, such as China, India, Thailand, and South Korea, has been instrumental in the globalization of markets and production. In addition, improvements in global transportation and communication have made it relatively easy for business executives from different countries to converse with one another. If these forms of technology, including air-travel, fax capability, e-mail, and overnight delivery of packages were not available, it would be much more difficult for businesses to conduct international trade.4. "Ultimately, the study of international business is no different from the study of domestic business. Thus, there is no point in having a separate course on international business." Evaluate this statement.Answer: This statement reflects a poor understanding of the unique challenges involved in international business. Managing an international business is different from managing a purely domestic business for at least four reasons. These are: (1) countries are different; (2) the range of problems confronted by a manager in an international business is wider and the problems themselves more complex than those confronted by a manager in a domestic business; (3) an international business must find ways to work within the limits imposed by government intervention in the international trade and investment system; and (4) international transactions involve converting money into different currencies. As a result of these differences, there are ample reasons for studying international business as a specific field of study or discipline.5. How might the Internet and the associated World Wide Web impact international business activity and the globalization of the world economyAnswer: According to the text, the Internet and World Wide Web (WWW) promise to develop into the information background of tomorrow's global economy. This improved technology will not only makeit easier for individuals and companies in different countries to conduct business with one another, but will also further decrease the cost of communications. These improvements will undoubtedly hasten the already rapid pace of globalization. Another distinct attribute of the Internet and the WWW is that they act as an equalizer between large (resource rich) and small (resource poor) firms. For instance, it does not cost any more for a small software firm to gain visibility via the WWW than it does for a large software company like Microsoft. As a result, the WWW helps small companies reach the size of audience that was previously only within the reach of large, resource rich firms.6. If current trends continue, China may emerge as the world's largest economy by 2020. Discuss the possible implications of such a development for(1) The world trading system.(2)The world monetary system.(3)The business strategy of today's European and . based global corporations.(4)Global commodity prices.Answer: The world trading system would clearly be affected by such a development. Currently China enjoys a somewhat privileged status within the World Trade Organization as a “developing” country. Such a rise to eminence, however, would clearly force it to become a full and equal member, with all the rights and responsibilities. China would also be in a position to actively affect the terms of trade between many countries. On the monetary front, one would expect that China would have to have fully conve rtible and trading currency, and it could become one of the “benchmark” currencies of the world. From the perspective of Western global firms, China would represent botha huge market, and potentially the home base of some very capable competitors. Finally, commodity prices would probably fall.7. Read the Country Focus in this chapter on the Ecuadorian rose industry, the answer the following questions:a) How has participation in the international rose trade helped Ecuador’s economy and its people How has the rise of Ecuador as a center for rose growing benefited consumers in developed nationswho purchase the roses What do the answers to these questions tell you about the benefits of international tradeb) Why do you think that Ecuador’s rose indust ry only began to take of 20 years ago Why do you think it has grown so rapidlyc) To what extent can the alleged health problems among workers in Ecuador’s rose industry be laid at the feet of consumers in the developed world and their desire for perfect Valentine’s Day rosesd) Do you think governments in the developed world should place trade sanctions on Ecuador roses if reports of health issues among Ecuadorian rose workers are verified What else might they do to improve the situation in Ecuadora) Ecuador is the world’s fourth largest producer of roses. In fact, roses represent the country’s fifth largest export. The industry is vital to Ecuador’s economy, creating tens of thousands of jobs, jobs that pay significantly above the country’s mi nimum wage. Taxes and revenues from the rose growers have also helped to pave roads, build schools, and construct sophisticated irrigation systems. For Ecuador’s consumers, the success of the industry means bigger, more vibrant flowers than were previously available. Most students will recognize that the conditions in Ecuador give the country a distinct advantage in rose growing, and that by focusing on the industry, Ecuador has been able to benefit from international trade. Consumers in other countries also benefit from Ecuador’s flower exports with better products.b) Ecuador’s rose industry began some 20 years ago, and has been expanding rapidly ever since then. Most students will probably focus advances in technology as a key to the industry’s success. Roses are a very fragile, perishable product. Modern technology enables growers to used refrigerated air transport to get the product to markets around the globe. Without that ability, the growers would be limited to the market immediately surrounding the country.c) Students will probably be divided on this issue with some students arguing that consumers are to blame for the problems, and others placing the blame on the growers. Students taking the first perspective will probably suggest that most consumers purchase their roses with little consideration for how they are grown. Rather, most consumers simply focus on their beauty and price. Students blaming the growers might argue that growers, because they feel the effect of less-than-perfect roses in the form of smaller profits, will be motivated to find ways to produce ever more perfect flowers. Certainly, the use of pesticides and other products can produce a better crop. In the end, there is probably blame on both sides. If more consumers were aware of the health problems resulting from the improper use of pesticides, they would probably demand some changes. Similarly, if pressure were put on the growers to use pesticides safely, health problems could be reduced.d) Trade sanctions are a tool that is often employed by governments that are making a statement against a specific action or actions. In the case of Ecuador, trade sanctions certainly would be an option, as would publicizing the situation so that more consumers were aware of the conditions. In the end though, it is important to consider the effect of the sanctions or other measures on people like Maria who might lose their livelihood as a result.Chapter 2: National Differences1. Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth! Discuss.Answer: In a market economy, private individuals and corporations are allowed to own property and other assets. This right of ownership provides a powerful incentive for people to work hard, introduce new products, develop better advertising campaigns, invent new products, etc., all in the hopes of accumulating additional personal capital and wealth. In turn, the constant search on the part of individuals and corporation to accumulate wealth enriches the entire economy and creates economic growth. In contrast, in a command economy, private individuals and corporations are not allowed to own substantial quantities of property and other assets. The objective of a command economy is for ever yone to work for “the good of the society.” Although this sounds like a noble ideal, a system that asks individuals to work for the good of society rather than allowing individuals to build personal wealth does not provide a great incentive for people to invent new products, develop better advertising campaigns, find ways to be more efficient, etc. As a result, command economies typically generate less innovation and are less efficient than market economies.2. A democratic political system is an essential condition for sustained economic progress. Discuss.Answer: This question has no clear-cut answer. In the West, we tend to argue that democracy is good for economic progress. This argument is largely predicted upon the idea that innovation is the engine of economic growth, and a democratic political system encourages rather than stifles innovation. However, there are examples of totalitarian regimes that have fostered a market economy and strong property rights protection and experienced rapid economic growth. The examples include four of the fastest growing economies of the past 30 years –South Korea, Taiwan, Singapore, and Hong Kong – all of which have grown faster than Western economies. However, while it is possible to argue that democracy is not a necessary precondition for the establishment of a free market economy, it seems evident that subsequent economic growth leads to establishment of democratic regimes. Several of the fastest-growing Asian economies have recently adopted more democratic governments.3. What is the relationship between corruption ., bribe taking by government officials) in a country and economic growth Is corruption always badAnswer: Economic evidence suggests that high levels of corruption significantly reduce the economic growth rate in a country. By siphoning off profits, corrupt politicians and bureaucrats reduce the returns to business investment, and hence, reduce the incentive that both domestic and foreign businesses have to invest in that country. The lower level of investment that results has a negative impact on economic growth. However, while most students will probably agree that corruption is bad, some may point out that the ., despite its Foreign Corrupt Practices Act, does allow “grease payments” to exp edite or secure the performance of a routine governmental action. According to Congress, “grease payments” while technically bribes are not being used to obtain or maintain business, but rather are simply made to facilitate performance of duties that the recipients are already obligated to perform.4. The Nobel prize-winning economist Amartya Sen argues that the concept of development should be broadened to include more than just economic development. What other factors does Sen think should be included i n an assessment of development How might adoption of Sen’s views influence government policy Do you think Sen is correct that development is about more than just economic development Explain.Answer: Sen has argued that development be assessed less by material output measures such as GNP per capita, and more by the capabilities and opportunities that people enjoy. Sen suggests that development be seen as a process of expanding real freedoms that people experience, and as such, that development requires the removal of major impediments to freedom. Governments influenced by Sen might ensure that basic health care and education programs are available especially for women. Many students will agree with Sen and the notion that development is not just an economic process, but a political one too, and that to succeed citizens must be given a voice in the important decisions made for the country.5. You are the CEO of a company that has to choose between making a $100 million investment in either Russia or the Czech Republic. Both investments promise the same long-run return, so your choice of which investment to make is driven by considerations of risk. Assess the various risks of doing business in each of these nations. Which investment would you favor and whyAnswer: When assessing the risks of investment, one should consider the political, economic, and legal risks of doing business in either Russia or the Czech Republic. At this time (Fall 2002), the risk in Russia would probably be considered higher than the risk in the Czech Republic. The Czech Republic has just been accepted as a future member of the EU, and as such gains the benefits and stability offered by the EU. Russia, by contrast, is still many years away from even being in a position to be considered by the EU for membership. Depending upon when you are using the book, this situation could be different. (You also may want to substitute other countries into this question depending on current events and the countries with which you feel your students will be most familiar.)6. Read the Country Focus on India in this chapter and answer the following questions:a. What kind of economic system did India operate during 1947-1990 What kind of system is it moving towards today What are the impediments to completing this transformationb. How might widespread public ownership of businesses and extensive government regulations have impacted (i) the efficiency of state and private businesses, and (ii) the rate of new business formation in India during the 1947-1990 time frame How do you think these factors affected the rate of economic growth in India during this time framec. How would privatization, deregulation, and the removal of barriers to foreign direct investment affect the efficiency of business, new business formation, and the rate of economic growth in India during the post-1990 time periodd. India now has pockets of strengths in key high technology industries such as software and pharmaceuticals. Why do you think India is developing strength in these areas How might success in these industries help to generate growth in other sectors of the Indian economye. Given what is now occurring in the Indian economy, do you think that the country represents an attractive target for inward investment by foreign multinationals selling consumer products Why Answer:a. The economic system that developed in India after 1947 was a mixed economy characterized by a large number of state-owned enterprises, centralized planning, and subsidies. In 1991, India’s government embarked on an ambitious economic reform program. Much of the industrial licensing system was dismantled, and several areas once closed to the private sector were opened. In addition, investment by foreign companies was welcomed, and plans to start privatizing state-owned businesses were announced. India has posted impressive gains since 1991, however there are still impediments to further transformation. Attempts to reduce import tariffs have been stalled by political opposition from employers, employees, and politicians. Moreover, the privatization program has been slowed thanks to actions taken by the Supreme Court. Finally, extreme poverty continues to plague the country.b. The mixed economy that developed in India after 1947 was characterized by a large number of state-owned enterprises, centralized planning, and subsidies. This system not only constrained the growth of the private sector, but it also consequently limited the effects of competition that typically promote efficiency and productivity in a free market system. The system even limited the actions of private companies, requiring them to get government approval for routine business activities. Production quotas and high import tariffs also stunted the development of a healthy private sector, as did restrictive labor laws that made it difficult to fire employees. Foreign exchange restrictions, limitations on foreign investment, controls on land use, and managed prices further exacerbated the situation. It would appear that India’s rate of economic growth was negatively affected during this time frame. By 1994, India’s economy was still smaller than Belgium’s despite having a large population. Bot h GDP and literacy rates were very low, and some40 percent of the population lived in poverty.c. In 1991, India’s government embarked on an ambitious economic reform program. So far, the response to the program has been impressive. The economy expanded at an annual rate of about percent from 1994 to 2004. Foreign investment is up from $150 million in 1990 to $6 billion in 2005. Certain sectors of the economy including information technology and pharmaceuticals have done particularly well. Still, problems persist. Actions taken by the government continue to limit efficiency gains for private companies and the country’s high rate of poverty is still a major problem.d. India’s gains in information technology and pharmaceuticals are impressive. The co untry has emerged as a vibrant global center for software development, and India’s pharmaceutical companies have taken a strong global position by selling low cost generic versions of drugs that have come of patent in the developed world. As these industries continue to prosper, other sectors of the economy should also see the benefit of spillover effects.e. Foreign investment is up in India. In fact, foreign investment rose from $150 million in 1990 to $6 billion in 2005. However, whether India is an attractive destination for foreign multinationals selling consumer products remains to be seen. Certainly, the large population will serve to attract some companies, but the fact that some 40 percent of the population is living in abject poverty will scare other companies away. Moreover, it is still not easy to run a company in India thanks to laws limiting everything from who can be fired to who can which products. Chapter 3: Differences in Culture1. Outline why the culture of a country influences the costs of doing business in that country. Illustrate your answer with examples.Answer: Since in a sense the entire chapter is about this question, there can be numerous reasons and examples of how culture influences the costs of doing business. Several are highlighted in the following sentences, but there could be numerous others. When there are simply different norms between how individuals from different countries interact, the costs of doing business rise as people grapple with unfamiliar ways of doing business. For example, while in the US we may get down to business first, and then get to know each other socially later, in many South American countries it is important develop a good social relationship before trying to discuss business issues. Different class structures and social mobility also raise the costs of doing business, for if there are inhibitions against working with people from different classes, then the efficiencywith which information can flow may be limited and the cost of running a business increased. A country's religion can also affect the costs of business, as religious values can affect attitudes towards work, entrepreneurship, honesty, fairness, and social responsibility. In Hindu societies where the pursuit of material well-being can be viewed as making spiritual well being less likely, worker productivity may be lower than in nations with other religious beliefs. Finally, a country's education system can have important implications for the costs of business. In countries where workers receive excellent training and are highly literate, the need for specific worker training programs are decreased and the hiring of additional employees is facilitated.2. Do you think business practices in an Islamic country are likely to differ from business practices in the United States If so, howAnswer: A number of aspects of the cultural differences between an Islamic country and the USA will cause business practices to differ. The role women can take, appropriate etiquette (including simple things like not passing papers with the left hand), holidays, and wining and dining all differ from in the USA. But beyond these, the underlying philosophy and role of business differs from in the USA. Since Muslims are stewards of property for God, rather than owners, they are more likely to use their resources carefully and may be less likely to give up or sell something to a person who may not practice the same stewardship. The importance of fairness to all parties in relations means that over-aggressiveness in self-interest may not be well received, and breaking an agreement, even if technically/legally permissible may be viewed as very inappropriate. Finally, the prohibitions on interest payments in some Islamic countries means that the wording of the terms of an agreement must be done carefully so that "fair profits" are not construed as being "interest payments."3. What are the implications for international business of differences in the dominant religion ofa countryAnswer: Differences in the dominant religion of a country affect relationships, attitudes toward business, and overall economic development. Firstly, differences in religion require inter-cultural sensitivity. This sensitivity requires things like simply knowing the religious holidays, accepting that some unexpected things may happen "because of Allah's will," or understanding how interpersonal relationships may be different between "believers" and "non-believers." (Hence non-believers may be treated differently.) Secondly, religious beliefs can significantly affect a countries attitude toward business, work, and entrepreneurship. In one country successfully beating a competitor may be considered a great achievement while in another it may be thought of as showing a lack of compassion and disruptive to the society and persons involved, both attitudes that may be derived from underlying religious beliefs. Likewise, hard work may be either rewarded positively or viewed as something of secondary importance to spiritual peace and harmony. Thirdly, different dominant religions may affect the overall competitiveness and potential for economic growth of a nation, and hence attractiveness of a country for international business.4. Choose two countries that appear to be culturally diverse. Compare the culture of thosecountries and then indicate how cultural differences influence(1)the costs of doing business in each country(2)the likely future economic development of that country(3)business practices(4)business ethicsAnswer: Responses to this question will obviously vary based on the countries chosen by the students, and their knowledge of the countries. Hopefully the student can present some information on the dimensions of culture including values, norms, social structure, religion, language, and education of the countries and also describe the key differences and similarities of the countries along these dimensions. Relating the differences between the countries along these dimensions to differences in the costs of doing business, the potential for economic development, and business practices would fully answer the question. (While it may be more difficult for students to come up with really good examples relative to business practices, the costs and prospects for economic development should be quite feasible.)Chapter 4: Ethics in International Business1. Review the Management Focus on testing drugs in the developing world and discuss the following questions:(a) Did Pfizer behave unethically by rushing to take advantage of an epidemic in Nigeria in order to test an experimental drug on sick children Should the company have proceeded more carefully (b) Is it ethical to test an experimental drug on children in emergency settings in the developing。