Maxcare, an Insurance Firm Based in California Had Difficulties Expanding

question 53

Multiple Choice

Maxcare, an insurance firm based in California had difficulties expanding their operations to Asian markets, as most of their target countries had strict regulations on transferring the details of the customers among the different branches of the firm. The company had to obtain an approval from its customers before sharing their personal information with their branches in other countries. Which of the following barriers is affecting the services of the insurance firm in the above scenario?

• A) Protectionism.
• B) Controls on transborder data flows.
• C) Protection of intellectual property.
• D) Cultural requirements for adaptation.
• E) Language translation barriers.

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Definitions:

Scarcity

An economic condition where demand exceeds supply, leading to limited availability of resources.

Consistency

The quality of always behaving or performing in a similar way, maintaining the same standards over time.

Reciprocity Norm

A social rule that suggests people should return help and cooperation they have received from others.

Potential Customer

An individual or entity that could be interested in purchasing a product or service, but has not yet decided to do so.