Many Businesses Falter in Their Attempts to Establish Markets Overseas

question 65

Multiple Choice

Many businesses falter in their attempts to establish markets overseas because they act like their culture is superior to the cultures of other countries.This belief and attitude is referred to as:

• A) culturalism
• B) parochialism
• C) nationalism
• D) ethnocentrism
• E) provincialism

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Definitions:

Voidable

A contract or agreement that is valid until one party decides to cancel or invalidate it due to certain legal deficiencies.

Negligent Misrepresentation

A false statement made carelessly that induces another party to enter into a contract, resulting in harm or damage.

Reasonable Care

A legal standard requiring individuals or organizations to act with the level of caution and vigilance that a prudent person would under similar circumstances, to prevent harm to others.

Scienter

Intent or knowledge.