Firms Use Several Methods to Conduct International Business

question 24

Multiple Choice

Firms use several methods to conduct international business. The most common methods include:

• A) international trade.
• B) licensing.
• C) franchising.
• D) all of the above.

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Definitions:

Sustainability Criteria

Guidelines or principles for making decisions that consider long-term environmental stability, economic viability, and social equity.

Environmental Considerations

Factors related to the natural environment that are taken into account in decision-making and business practices.

Procurement Outsourcing

The practice of hiring external organizations to manage procurement functions to save costs and improve efficiency.

Source-to-Contract

Encompasses the entire procurement process from identifying potential suppliers to negotiating and finalizing contracts with chosen suppliers.