What are two specific reasons why a company might decide NOT to conduct business internationally?
What will be an ideal response?
Answer: Each of the following reasons is acceptable (among others): (1) the company's product(s) may be unsuitable for international shipping due to storage and/or transportation costs, if made domestically; (2) there may be a very low demand for the company's product(s) in foreign markets; (3) the business climate of a given country may be unsuitable for the company; (4) the company may not have, or be able to obtain, the necessary skills and knowledge to conduct international business.
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Which of the following statements is true of quality?
A. It can be measured in terms of product performance, customer service, and reliability. B. It cannot be improved continuously. C. It refers to keeping costs low enough so the company can realize profits and price its products at levels that are attractive to consumers. D. It refers to goodwill stemming from one’s social relationships. E. It is described as rapid execution, response, and delivery of results.
A master budget is ________.
Fill in the blank(s) with the appropriate word(s).