MGMT 3000 GUHDE EXAM 1 ACTUAL QUESTIONS

MGMT 3000 GUHDE EXAM 1 (ACTUAL / ) QUESTIONS

AND VERIFIED ANSWERS

focus on humanity of production - ----Answers--- management focus is on meeting human needs for greater motivation and engagement to increase effectiveness

the factory system was the new way of making products that began during... - ----Answers---the industrial revolution

the factory system used what 3 things to mass-produce products - ----Answers---1. powered machinery

• division of labor
• unskilled workers

globalization leads to... (3) - ----Answers---1. increasing interdependence among countries, businesses, and people

• fewer large international corporations located in US
• more and more are state-owned

cognitive dimension - ----Answers---knowing what exists in a foreign market

psychological dimension - ----Answers---your feelings (ex.there's a lot to be learned and i appreciate the opportunity) 1 / 4

social dimension - ----Answers---people's values/belief systems/holidays will be different

what is the largest or second-largest market for a variety of products/services? - ----Answers---china

is business in china easy or a challenge? - ----Answers---a challenge

annual per capital disposable income of urban and rural households in china has increased or decreased? - ---- Answers---increased

who is supposed to greatly surpass china and the rest of the world in terms of population? - ----Answers---india

why is it natural for US companies to outsource in india? - ---- Answers---there's a large english-speaking population

multinational corporations (MNCs) receive more than what % of their total sales revenue from operations outside of their parent home country - ----Answers---25%

characteristics of MNCs (3) - ----Answers---1. managed as integrated worldwide business systems

• controlled by a single management authority 2 / 4

• regard the entire world as one market

less than ______% of the world's public companies account for more than ______% of all profits - ----Answers---10%, 80%

exporting - ----Answers---corporation maintains its production facility within its home nation and ships its products to foreign countries

global outsourcing - ----Answers---engaging in the international division of labor so that work activities can be done in countries with the cheapest sources of labor/supplies; offshoring

partnerships - ----Answers---partners with a local company in a foreign market; represent a higher involvement in international trade; often the fastest, cheapest, and least risky way to enter a global market

joint venture - ----Answers---a company shares cost and risk with another firm, typically in the host country, to develop new products, build a manufacturing facility, or set up a sales/distribution network

political risk - ----Answers---risk of loss of assets, earning power, or managerial control due to political changes or instability in a host country

• / 4

political instability - ----Answers---includes riots, revolutions, civil disorders, and frequent changes in government

ethnocentrism - ----Answers---natural tendency of people to regard ones own culture as the superior

hofstede's value dimensions (5) - ----Answers---dimensions of national value systems that influence organizational and employee working relationships

• power distance
• uncertainty avoidance
• individualism vs. collectivism
• masculinity vs femininity
• long-term orientation vs short-term

power distance - ----Answers---level of acceptance of inequality in power among institutions, orgs, and people

individualism vs. collectivism - ----Answers---individualism:

favors a loosely knit social framework in which individuals are expected to take care of themselves

collectivism: preference for a tightly knit social framework in

which individuals look after one another and org's protect their members' interests

• / 4