SECTION 3:8 TEST

1. According to Jack Ma, what has made business opportunities available everywhere?
A) Strong local economies
B) The borderless nature of the Internet
C) Focusing only on local markets
D) The rise of brick-and-mortar stores

2. What is one key aspect of having a global mindset for entrepreneurs?
A) Focusing solely on local markets
B) Adapting products and services to fit different regions and cultures
C) Avoiding international expansion due to cultural differences
D) Ignoring local customs and laws when expanding globally

3. How did Uber fuel its global expansion?
A) By maintaining a uniform model without changes
B) By understanding local transportation needs and adapting to local regulations
C) By avoiding markets with different cultural preferences
D) By focusing only on technology, not local regulations

4. Why is cultural sensitivity important in global business?
A) It allows entrepreneurs to ignore local tastes and preferences
B) It helps entrepreneurs tailor their messaging and products to resonate with local audiences
C) It has no effect on business success
D) It ensures that entrepreneurs use the same approach in every market

5. How has technology enabled entrepreneurs to adopt a global mindset?
A) By making international expansion too complex
B) By allowing small businesses to reach international customers through e-commerce and digital marketing
C) By limiting businesses to local markets
D) By increasing the cost of reaching global customers

Answers:

1. B) The borderless nature of the Internet
2. B) Adapting products and services to fit different regions and cultures
3. B) By understanding local transportation needs and adapting to local regulations
4. B) It helps entrepreneurs tailor their messaging and products to resonate with local audiences
5. B) By allowing small businesses to reach international customers through e-commerce and digital marketing

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