CH-13 Export and Import Strategies – International Business: Environments and Operations : Exam Guide

CHAPTER 13 Export and Import Strategies 1. The U.S. Department of Commerce reports that nearly _____ of U.S. companies that export are small businesses. a. 15 percent b. 42 percent c. 65 percent d. 90 percent Answer: d. 90 percent 2. The U.S. Department of Commerce reports that the bulk the small businesses that export have fewer than _____ employees. a. 5 b. 20 c. 50 d. 100 Answer: b. 20 3. Exporters account for _____ of U.S. firms. a. a large percent b. a small percent c. a very large percent d. a trivial percent Answer: c. a very large percent 4. Imports and exports play _____ in the U.S. economy than they did 20 years ago. a. a much lesser role b. the same role c. the same role for manufacturing but a much lesser role for services d. a much greater role Answer: d. a much greater role 5. As management weighs the decision of whether to export, an example of a strategic concern would be? a. Is exporting consistent with the company's mission and goals? b. Which mode of transportation should we use? c. Should the firm set up an international division or assign export to an existing unit? d. Which export management company will offer the best service? Answer: a. Is exporting consistent with the company's mission and goals? 6. Companies are most apt to export as a means of selling abroad in all of the following situations except _____. a. when their average cost per unit of home country production declines substantially by increasing output b. when they want to use the riskiest method to engage in international trade c. when they have unique product advantages that competitors cannot rapidly or easily copy d. when they are new to international business Answer: b. when they want to use the riskiest method to engage in international trade 7. Which of the following is usually not a factor that triggers companies to look to exports to boost total sales? a. maturity of the domestic market b. potential to leverage their core competency in foreign markets c. promote economic development in foreign markets' underdeveloped countries d. response to the market entry of a foreign rival Answer: c. promote economic development in foreign markets' underdeveloped countries 8. Which of the following factors does not motivate a company, such as Grieve, to build export linkages? a. use of excess capacity b. potential for cost reduction c. potential for higher profits d. concentration of risk Answer: d. concentration of risk 9. The probability of being an exporter _____. a. is independent of the size of the company b. can be systematically and objectively determined c. is a function of the company's decision to establish an international division d. is related to the size of the company Answer: d. is related to the size of the company 10. Export intensity, the measure of the relative importance of exports to total sales for a company, _____. a. increases with company size b. decreases with company size c. is independent of company size d. is dependent on the company size Answer: c. is independent of company size 11. Research indicates that a company's propensity to export, strongly influenced by the size of the firm, is also strongly influenced by the _____. a. number of countries it exports to b. management's attitude about business risk c. its degree of export intensity d. political conditions in its target markets Answer: b. management's attitude about business risk 12. Which of the following is not a major reason why companies opt not to get involved in exporting? a. to avoid paying taxes on export sales b. to expand sales c. to achieve economies of scale in production d. to allow the company to use excess capacity Answer: a. to avoid paying taxes on export sales 13. Which of the following questions do companies not need to consider before deciding to begin the export process? a. What is the variability of the home country's import tariffs? b. Is exporting consistent with other company goals? c. What demands does exporting typically place on a company's resources? d. Are the expected benefits worth the costs? Answer: a. What is the variability of the home country's import tariffs? 14. As companies move from partial interest in exporting to being experienced exporters, _____. a. they tend to focus on only a few key countries b. they tend to export to more countries c. exports as a percentage of total sales flatten out d. they expect exports as a percentage of total sales to flatten out until they set up manufacturing facilities overseas Answer: b. they tend to export to more countries 15. Increasingly, we see newly formed companies begin exporting sooner in their life cycle, led by a new generation of entrepreneurs and managers with a keen awareness of export opportunities. These sorts of firms are generally referred to as _____. a. first-stage exporters b. geocentrics c. born global d. geo-expos Answer: c. born global 16. An example of a trigger that leads a company to begin exporting by serendipity rather than by design would be _____. a. a solicited sales order arrives in the mail b. a sales lead is purchased from an intermediary c. specific companies in specific markets are targeted for business d. personal travels abroad discover new market options Answer: d. personal travels abroad discover new market options 17. A major pitfall of exporting is _____. a. willingness to modify products to meet other countries' regulations or cultural preferences b. an overcommitment by top management to exporting c. an over-reliance on exports when demand in the domestic market booms d. pursuing orders from around the world instead of establishing a base of profitable operations Answer: d. pursuing orders from around the world instead of establishing a base of profitable operations 18. All of the following are mistakes companies new to exporting most frequently make except _____. a. failure to obtain qualified export counseling and to develop a master international marketing plan before starting an export business b. insufficient commitment by top management to overcome the initial difficulties and financial requirements of exporting c. neglecting domestic business when export business booms d. failure to print service, sales, and warranty messages in locally understood languages Answer: c. neglecting domestic business when export business booms 19. Which of the following explanations is commonly cited as a reason that firms do not seek export opportunities more aggressively? a. Exporting is an activity best left to large firms. b. Many inexperienced exporters have run into significant problems in their initial attempts to do business overseas. c. Firms are often overwhelmed by the complexities involved in managing exports. d. Firms are unfamiliar with foreign market opportunities. Answer: b. Many inexperienced exporters have run into significant problems in their initial attempts to do business overseas. 20. Common pitfalls to successful export operations include all of the following except _____. a. managers run into problems getting qualified export counseling b. managers find that foreign markets offer relatively small revenue and profit opportunities c. managers have a poor understanding of competitive conditions in foreign markets d. managers poorly execute promotional campaigns in foreign markets Answer: a. managers run into problems getting qualified export counseling 21. The basis for designing an effective strategy for exporting begins with _____. a. identifying how the company can potentially leverage its core competency into international sales b. hiring local personnel to help the firm establish itself in a foreign market c. enlisting the support of an export management company d. focusing on a large number of markets to minimize the degree of risk Answer: a. identifying how the company can potentially leverage its core competency into international sales 22. As a company designs its import strategy, it is best advised to begin by _____. a. consulting the U.S. Customs Service to determine how to get products from foreign markets into the domestic market b. studying potential markets in pinpointing possible overseas suppliers c. evaluating the role of third-party intermediates, such as freight forwarders and customs agents, to determine import options d. figure out how to plug into a larger company's global supply chain Answer: b. studying potential markets in pinpointing possible overseas suppliers 23. The process used to design an import strategy largely mirrors one used in designing an export strategy, except it places greater demands on the importer's expertise in dealing with _____. a. foreign markets b. financial markets c. institutions and documentation d. customer expectations Answer: c. institutions and documentation 24. Small- and medium-sized U.S. companies can rely on the Export Assistance Center of the International Trade Administration (ITA) of the U.S. Department of Commerce to help deal with major parts of their export strategy, including _____. a. developing product ideas b. coordinating international research collaboration c. confirming the logistics of large volume export shipments d. identifying potential sales agents Answer: d. identifying potential sales agents 25. An import strategy is driven by the fact that companies _____. a. can buy goods or services at higher prices from foreign suppliers b. can find goods or services of lower quality than similar goods produced locally c. can tap a wide range of government subsides to support their import strategy d. cannot buy goods or services needed in their production processes from local companies Answer: d. cannot buy goods or services needed in their production processes from local companies 26. There are two types of imports, those that provide industrial and consumer goods and services to individuals and companies that are not related to the foreign exporter and _____. a. those that provide intermediate goods and services to international institutions b. those that provide intermediate goods and services to companies that are in different countries c. those that provide intermediate goods and services to companies that are part of the firm's global supply chain d. those that provide intermediate goods and services to companies that are part of the competitors' global demand chain Answer: c. those that provide intermediate goods and services to companies that are part of the firm's global supply chain 27. A driving factor for the growth in imports is due to the impact of _____. a. government programs b. the specialization of labor c. consumer preferences d. social trends Answer: b. the specialization of labor 28. In virtually every sort of industry structure, developing alternative suppliers usually makes a company less vulnerable to _____. a. the dictates or fortunes of a single supplier b. changes in consumer taste c. political conflicts d. market disruption Answer: a. the dictates or fortunes of a single supplier 29. The primary duties of the_____ are the assessment and collection of all duties, taxes, and fees on imported merchandise, the enforcement of customs and related laws, and the administration of certain navigation laws and treaties. a. U.S. Customs Service b. U.S. Secret Service c. Internal Revenue Service d. Food and Drug Administration Answer: a. U.S. Customs Service 30. All of the following are primary duties of the U.S. Customs Service except _____. a. the assessment and collection of all duties, taxes, and fees on imported merchandise b. the collection of import and export tariffs c. the enforcement of customs and related laws d. the administration of certain navigation laws and treaties Answer: b. the collection of import and export tariffs 31. Import documents are of two different types, those that determine whether customs will release the shipment and those that contain information for _____. a. national security b. market and industry impacts c. duty assessment and statistical purposes d. end customer profiles Answer: c. duty assessment and statistical purposes 32. A broker or other import consultant can help an importer minimize import duties by _____. a. qualifying for duty charges through drawback provisions b. incurring duties by using bonded warehouses and foreign trade zones c. maximizing liability by properly marking an import's country of origin d. valuing products in such a way that they qualify for more favorable duty treatment Answer: d. valuing products in such a way that they qualify for more favorable duty treatment 33. In _____, the exporter sells goods directly to or through an independent domestic intermediary in the exporter's home country that exports the products to foreign markets. a. direct selling b. multilevel marketing c. global resource planning d. indirect selling Answer: d. indirect selling 34. A company's experience in export and import, along with its _____, significantly influence its inclination for indirect selling. a. sense of government programs b. impression of of market trends c. range of financial and management resources d. awareness of of industry conditions Answer: c. range of financial and management resources 35. As companies initiate their activities in export mar¬kets with a preference for an indirect selling strategy, they tend to _____. a. establish a small cadre of export professionals to handle the specialized functions of exporting b. use third-party specialists to assist in the export process c. use the International Trade Administration to handle their exports d. use freight forwarders to act as distributors in foreign markets Answer: b. use third-party specialists to assist in the export process 36. The company that hires an intermediary to help it manage the export process must accept _____. a. lower profit margins b. greater control over aspects of its international sales c. more responsibility for customer satisfaction d. the need to better understand trade regulations Answer: a. lower profit margins 37. A(n) ¬¬¬¬_____ operates on a contractual basis and provides exclusive representation for an exporter's goods and services in a well-defined foreign territory. a. export management company b. import broker c. invoice agent d. horizontal financial trader Answer: a. export management company 38. Export management companies are export specialists who act as the _____ department for their client firms. a. finance b. international c. supply chain d. personnel Answer: b. international 39. Which of the following is typically true of an export management company? a. It is usually a division of a manufacturing company. b. Most EMCs in the United States are large, representing a wide range of products and large number of companies. c. It operates on a contractual basis for a manufacturer by helping obtain orders for its clients' products. d. It usually takes title to products rather than acts as agents. Answer: c. It operates on a contractual basis for a manufacturer by helping obtain orders for its clients' products. 40. Which of the following is true of export trading companies in the United States? a. They are like independent distributors that match buyers with sellers. b. They are not allowed to involve competitors due to antitrust laws. c. They must be established independently of the manufacturer in order to avoid a conflict of interest. d. They have been the most successful form of export intermediary in recent years. Answer: d. They have been the most successful form of export intermediary in recent years. 41. Exporters direct selling of products overseas _____. a. in order to spread the risk. b. by allowing export management companies to act as agents for them. c. because they are usually the only ones who really understand the product characteristics d. through sales representatives or distributors Answer: d. through sales representatives or distributors 42. An exporter that opts for a _____ strategy will either build a network of sales representatives or develop its own international marketing capability. a. indirect selling b. freight forwarding c. direct selling d. export intermediation Answer: c. direct selling 43. The company that opts for a direct selling strategy to manage its exports is usually responding to competitive pressures _____. a. from foreign customers who are indifferent about warranty service b. to more fully exploit its core competencies c. from political officials worried about international trade balances d. to expand into new markets more cautiously Answer: b. to more fully exploit its core competencies 44. The Internet supports more companies' effort to launch a direct selling strategy by _____. a. proving faster and cheaper delivery of information b. creating high capital and infrastructure barriers c. letting software take over customer service d. countering the power of electronic data interchange systems Answer: a. proving faster and cheaper delivery of information 45. A freight forwarder, the so called "travel agents of cargo," performs which of the following functions: a. is the largest export intermediary in terms of value and weight handled. b. takes title to the goods it moves from country to country. c. acts as a sales representative in a foreign market. d. concentrates activity on moving exports and imports within a company's global supply chains. Answer: a. is the largest export intermediary in terms of value and weight handled. 46. In terms of the relative importance of air and ocean freight for moving products from country to country, trends in terms of more frequent shipments, lighter-weight shipments, and higher-value shipments _____. a. help standardize rates on air and ocean shipment for incoming and outgoing freight b. favor the air freight business over ocean freight business c. have had an insignificant impact d. favor the ocean freight business over air freight business Answer: b. favor the air freight business over ocean freight business 47. Which of the following is not a function of the U.S. Department of Commerce? a. organize trade events that help potential exporters make foreign contacts and explore export opportunities b. support pretrip planning activities for potential exporters c. act as an export marketing department or international department for their client firms d. maintain a matchmaker program in which department representatives assist potential exporters identify and meet potential agents and customers Answer: c. act as an export marketing department or international department for their client firms 48. Federal, state, and local governments, seeing the benefits of international trade, actively aid the efforts of potential and active exporters as well as _____. a. ensure the quality of exported products b. set up barriers to punish foreign competitors c. collect a fee for each successful export sale d. protect the interests of struggling importers Answer: d. protect the interests of struggling importers 49. Countertrade is an alternative means of structuring an international sale when _____. a. an importer is able to raise the cash to settle a bill b. an importer is able to obtain a bank loan c. an importer does not belong to the World Bank d. conventional forms of payment are difficult, costly, or nonexistent Answer: d. conventional forms of payment are difficult, costly, or nonexistent 50. _____ refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency. a. Factoring b. Offset c. Countertrade d. Barter Answer: c. Countertrade 51. Countertrade is an inefficient way of doing business because it _____. a. requires buyers and sellers to enter straightforward negotiations to reach a fair value on the exchange b. threatens free market forces with protectionism and price fixing c. reduces the risk that the goods that are sent as payment may be poor quality, packaged unattractively, or difficult to sell and service d. eliminates the potential for price and financial distortion Answer: b. threatens free market forces with protectionism and price fixing 52. Countertrade generally increases in countries whose economies _____. a. are experiencing widespread economic problems b. command strong negotiation positions with foreign customers c. enjoy sufficient access to cash or credit d. can easily access the technology and marketing expertise of MNEs Answer: a. are experiencing widespread economic problems 53. A situation in which goods are traded for goods due to a shortage of foreign exchange is known as _____. a. barter b. bilateral trade c. offset trade d. multilateral trade Answer: a. barter 54. A situation in which an exporter sells goods for cash but then undertakes to promote exports from the importing country in order to help it earn foreign exchange is known as _____. a. multilateral trade b. offset trade c. barter d. bilateral trade Answer: b. offset trade 55. _____ are products the exporter receives as payment that is related to or originates from the original export. a. Barters b. Offsets c. Buybacks d. Factoring Answer: c. Buybacks 56. A situation in which an exporter sells goods for cash but then undertakes to promote exports from the importing country in order to help it earn foreign exchange is known as _____. a. barter b. swing trade c. buyback d. offset trade Answer: d. offset trade 57. Large companies now make up nearly 90 percent of the U.S.'s exporters and account for one-fifth of the value of U.S. exports. Answer: False 58. The U.S. Department of Commerce reports that nearly 90 percent of U.S. companies that export are small businesses, and the bulk of those have fewer than 20 employees. Answer: True 59. Ownership advantages refer to the firm's specific assets, international experience, and the ability to develop either low-cost or highly differentiated products within the context of its particular value chain. Answer: True 60. Serendipity is often an export trigger for companies that purposefully look to internationalize their operations. Answer: False 61. Export intensity, the percentage of total revenues coming from exports, is not positively correlated with company size. Answer: True 62. The probability of being an exporter is independent of the size of the company. Answer: False 63. "Born global" firms are those that step straight onto the world stage, making exporting the primary goal of the firm from day one of operations. Answer: True 64. The strategic advantages of exports depend largely on the state of the marketplace, not on the quality of the company's export strategy. Answer: False 65. A major pitfall of exporting is an unwillingness to modify products to meet other countries' regulations or cultural preferences. Answer: True 66. Companies new to exporting most frequently suffer overcommitment by top management in taking on the initial difficulties and financial requirements of exporting. Answer: False 67. The advantages of using an export strategy to build a customer base in foreign markets include being able to minimize shipping costs and avoid tariffs. Answer: True 68. The advantages of using an export strategy to build a customer base in foreign markets include being able to minimize risk and capital requirements Answer: False 69. There are two types of imports: those that provide industrial and consumer goods and services to individuals and companies that are not related to the foreign exporter and those that provide intermediate goods and services to companies that are part of the firm's global supply chain. Answer: True 70. There are three broad types of importers: those that use foreign sourcing as part of their global production network, those that look at foreign sourcing to get the highest quality products at the lowest possible price, and those that look defensively for any product around the world that they can import in order to compete with rivals. Answer: False 71. The primary duty of the customs agency of a government is the assessment and collection of all duties, taxes, and fees on imported merchandise. Answer: True 72. The U.S. government has more than ten thousand tariff classifications and approximately 20 percent of them are subject to interpretation. Answer: False 73. Exporters use an export management company as part of an indirect selling strategy. Answer: False 74. Indirect exports are goods and services sold to an independent intermediary outside of the exporter's home country, which then sells the product in the export market to the final consumer. Answer: False 75. Export trading companies in the United States are essentially like independent distributors that match up buyers and sellers. Answer: True 76. Major types of indirect intermediaries include export trading companies, distributors, and export management companies. Answer: False 77. In what is known as direct selling, the exporter sells goods directly to or through an independent domestic intermediary in the exporter's home country that exports the products to foreign markets. Answer: False 78. Direct exports are sold to an independent intermediary in the domestic market, which then sells the products in the export market to the final consumer. Answer: False 79. The foreign freight forwarder is the largest export intermediary in terms of value and weight of products managed. Answer: True 80. A U.S. government agency that provides assistance to companies interested in exporting is the International Trade Administration. Answer: True 81. Countertrade refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency. Answer: True 82. Countertrade is an efficient way of doing business. Answer: True 83. Barter is a transaction in which goods or services are traded for goods or services of equal value without any exchange of cash or credit. Answer: True 84. Offset transactions are quite common in the sale of technology, licenses, and even complete "turnkey" factories. Answer: False 85. What are some key characteristics of exporters? Answer: Research conducted on the characteristics of exporters has resulted in two basic conclusions: (1) the probability of being an exporter increases with company size, as defined by revenues and (2) export intensity, the percentage of total revenues coming from exports, is not positively correlated with company size. The greater the percentage of exports to total revenues, the greater the intensity. 86. Discuss the potential pitfalls of exporting. Answer: Aside from problems that are common to international business in general and not unique to exporting, such as language and other cultural factors, the following are mistakes companies new to exporting most frequently make: a. Failure to obtain qualified export counseling and to develop a master international marketing plan before starting an export business b. Insufficient commitment by top management to overcome the initial difficulties and financial requirements of exporting c. Insufficient care in selecting overseas agents or distributors d. Chasing orders from around the world instead of establishing a base of profitable operations and orderly growth e. Neglecting export business when the domestic market booms f. Failure to treat international distributors on an equal basis with their domestic counterparts g. Unwillingness to modify products to meet other countries' regulations or cultural preferences h. Failure to print service, sales, and warranty messages in locally understood languages i. Failure to consider use of an export management company or other marketing intermediary when the company does not have the personnel to handle specialized export functions 87. Discuss the various steps management must take to establish a successful export strategy? Answer: a. Assess the company's export potential by examining its opportunities and resources—First of all, the company needs to determine if there is a market for their goods and services. Next it needs to make sure it has enough production capacity to deliver the goods or services to foreign customers. b. Obtain expert counseling on exporting—Most governments provide assistance for their domestic companies, although the extent of commitment varies by country. Other government agencies also assist exporters. As a company's export plan increases in scope, it probably will want to secure specialized assistance from banks, lawyers, freight forwarders, export management companies, export trading companies, and others. c. Select a market or markets—This key part of the export strategy may be done passively or actively. In the former, the company learns of markets by responding to requests from abroad that result from trade shows, advertisements, or articles in trade publications. d. Formulate and implement an export strategy—In this step, a company considers its export objectives (immediate and long term, specific tactics it will use, a schedule of activities and deadlines to achieve its objectives, and the allocation of resources to accomplish the different activities. Then it implements the strategy by getting the goods and services to foreign consumers. 88. What are the major types of importers? Answer: a. Those that are looking for any product around the world that they can import. They might specialize in certain types of products—such as sports equipment or household items—but they are simply scanning the globe and looking for any product that will generate positive cash flow for them. b. Those that are looking at foreign sourcing to get the highest-quality products at the cheapest price. c. Those that use foreign sourcing as part of their global supply chain. d. Importing requires a certain degree of expertise in dealing with institutions and documentation, which a company may not have. Consequently, a company may elect to work through an import broker. The import broker obtains various governmental permissions and other clearances before forwarding necessary paperwork to the carrier that is to deliver the goods to the importer. Import brokers in the United States are certified by the U.S. Customs Service to perform the functions necessary to bring products into the country. 89. What role does the customs agency of a government play? Answer: a. When importing goods into any country, a company must be totally familiar with the customs operations of the importing country. In this context, "customs" are the country's import procedures and restrictions, not its cultural aspects. The primary duties of the U.S. Customs Service are the assessment and collection of all duties, taxes, and fees on imported merchandise, the enforcement of customs and related laws, and the administration of certain navigation laws and treaties. As a major enforcement organization, it also deals with smuggling operations. b. An importer needs to know the way to clear goods, the duties to pay, and the special laws that exist regarding the importation of products. On the procedural side, when merchandise reaches the port of entry, the importer must file documents with customs officials, who assign a tentative value and tariff classification to the merchandise. Then customs officials examine the goods to determine whether there are any restrictions on their importation. If there are restrictions, the goods may be rejected and not be allowed to enter the country. 90. Discuss the various ways a broker or other import consultant can help an importer minimize import duties. Answer: a. Valuing products in such a way that they qualify for more favorable duty treatment—Different product categories have different duties. For example, finished goods typically have a higher duty than parts and components. b. Qualifying for duty refunds through drawback provisions—Some exporters use in their manufacturing process imported parts and components on which they paid a duty. In the United States, the drawback provision allows domestic exporters to apply for a 99 percent refund of the duty paid on their imported goods, as long as they become part of the exporter's product. c. Deferring duties by using bonded warehouses and foreign trade zones—Companies do not have to pay duties on imports stored in bonded warehouses and foreign trade zones until the goods are removed for sale or used in a manufacturing process. d. Limiting liability by properly marking an import's country of origin—Because governments assess duties on imports based partly on the country of origin, a mistake in marking the country of origin could result in a higher import duty. For example, in the United States, if a product or its container is not properly marked when it enters the country, the product could be assigned a marking duty equal to 10 percent of the customs value. This would be in addition to the normal tariff. 91. What are export management companies, and how do they help potential exporters? Answer: An export management company (EMC) usually acts as the export arm of a manufacturer. The EMC primarily obtains orders for its clients' products through the selection of appropriate markets, distribution channels, and promotion campaigns. It collects, analyzes, and furnishes credit information and advice regarding foreign accounts and payment terms. The EMC also may take care of export documents, arrange transportation, set up patent and trademark protection in foreign countries, and assist in establishing alternative forms of doing business, such as licensing or joint ventures. EMCs operate on a contractual basis and provide exclusive representation in a well-defined foreign territory. In the United States, most EMCs are small, entrepreneurial ventures that tend to specialize by product, function, or market area. Although EMCs perform an important function for companies that need their expertise, a manufacturer that uses an EMC may lose control over foreign sales, as they are passing off that responsibility to an independent party. If the EMC does not actively promote the product, the company will not generate many exports. 92. Discuss offset trade. Answer: Offset trade is when an exporter sells products for cash, and then helps the importer find opportunities to earn hard currency. Offsets are most often used for big-ticket items, such as military sales. Offset arrangements are usually one of two types: a. Direct offsets—Income of any business that relates directly to the export. Generally, the exporter seeks contractors in the importer's country to joint venture with or coproduces certain parts if applicable. b. Indirect offsets—Includes all business unrelated to the export. Generally, the exporter is asked by the importer's government to buy a country's goods or invest in an unrelated business. Some of the most common direct offset practices in military sales include coproduction, licensed production, subcontractor production, overseas investment, and technology transfer. Examples of indirect offsets might include assisting in the export of unrelated products from the host country or generating tourist revenues for the host country. Test Bank for International Business: Environments and Operations John D. Daniels, Lee H. Radebaugh, Daniel P. Sullivan 9780131869424, 9780201846188, 9780130308016, 9780201566260, 9780201107135, 9780132668668