1. What two export payment terms offer the most protection to the seller?
2. What is a generality about similarities of social and cultural values in the country?
3. What are the trade-offs for a firm that uses a just-in-time production system?
4. Compare and contrast ethnocentric, polycentric, regiocentric, and geocentric staffing policies.
5. What are the differences between transaction and translation exposure? Can you hedge for both simultaneously?
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Who benefits from factoring?
Ø Sellers/Exporters offering credit terms up to 180 days
Ø Buyers/Importers buying on credit terms up to 180 days
Benefits of factoring
§ Ability to offer open account terms to customers
§ Buyers/Importers' creditability assessment
§ Finance against receivables
§ Reduction on operating expenses and time consumed on collecting receivables
§ Protection against Buyers/Importers' default in payment
· No L/Cs, no deposits needed
· Ability to buy on open account terms
· Payment made only when merchandise's requirements are met
· No factoring fees
SOCIAL and CULTURAL VALUES
Values are an integral part of every culture. Along with beliefs and worldview assumptions, they generate behavior. Being part of a culture that shares a common core set of values creates expectations and predictability without which a culture would disintegrate and its members would lose their personal identity and sense of worth. Values tell people what is good, beneficial, important, useful, beautiful, desirable, appropriate...etc. They answer the question of why people do what they do. Values help people solve common human problems for survival. Over time, they become the roots of traditions that groups of people find important in their day to day lives. Values can be positive or negative; some are destructive. To understand people of other cultures, we must come to understand the values, beliefs and assumptions that motivate their behavior of there values over.
International operations and best practices are examined. The expert compares and contrasts ethnocentric, polycentric, regiocentric and geocentric staffing policies.