Liberty
University BUSI 303 quiz 1 solutions answers right
How
many versions: 5 different versions
The
global business manager must possess a strong domestic awareness and must understand the unique factors that contribute to the success of a global business, including vast working experience
International exchange is a recent concept?.
The geocentric organization’s primary objective is to develop an integrated system with
a (n) .
People
in a culture share the belief that general rules, codes, values, and
standards take precedence over particular needs and claims of friends and relations.
Regardless of the managerialcultural paradigm in use, the business professional
recognizes that an understanding of the major dimensions of culture is essential for
success in doing business overseas.
Which of the following is a type of political risk for global managers?
Which of the following is true regarding the use of words across languages?
NAFTA facilitated the importation and exportation of goods and services between the United States, Mexico, and Canada.
Trompenaar believed that every culture distinguishes itself from others by the
specific solutions it chooses to certain problems and dilemmas
Advocates for globalization believe that globalization promotes
Blank, as the opposite of , promotes openness towards other cultures, opinions, and ways of life
Which of the following is a barrier to trade?
Culture
is the set of shared attitudes, values,
, and practices that characterize a
society
As globalization becomes more embedded in daily life, tolerance must continue to increase in order to avoid unnecessary polarization—again reinforcing the notion that
globalization is not assimilation.
Barriers to trade include all of the following except:
The
World Trade Organization (WTO) was established in the early 1970s to help foster
international trade and resolve disputes.
KSA stands for , ,
and .
(blank) culture: time moves around in cycles; people tend to do se
a time; time is flexible and intangible
Which of the following is NOT true about globalization?
A form of verbal language includes
Which of the following is NOT a driving force
of Globalization?
Increased restriction on foreign investments
Congress enacted the Foreign Corrupt Practices
Act (FCPA) to bring a halt to the bribery of foreign officials and to restore
public confidence in the integrity of the U.S. business system
People in a particularism culture see the ideal
culture in terms of human friendship, extraordinary achievement and situations,
and intimate relationships
Which of the following is a characteristic of a
high-context culture?
An ascribed status is one that society assigns
to an individual on the basis of factors over which the individual has no
control: gender, race, ethnic background, and socioeconomic status, into which
one is born.
Which of the following is a dimension in Fons
Trompenaar's Model of Culture?
Business Ethics is the study of ethical
dilemmas, values, and decision making in the world of business. Business ethics
should not be considered a separate disciple from ethics
Pax Americana, Latin for “American peace,” is
the period of relative peace in the Western world since the end of World War II
in 1945, coinciding with the dominant military and economic position of the
U.S.
All of the following are part of the 5 Pillars
of Faith in the Muslim religion except
Foreign direct investment is an attractive
option for firms looking to diversify their investment portfolios, creating
opportunities for firms looking to enter emerging markets
In a ____________culture, people start with the
whole and see each element in perspective of the total; the whole is more
important than the sum of its elements. Individuals have a large private sphere
and a small public one.
Polycentric managers believe that home-country
nationals are more intelligent, reliable, and trustworthy than foreign.
The Pax Romana heralded the introduction of
mass production, improved transportation, technological progress, and the
industrial factory system.
Three branches of Judaism include
Internalistic
cultures have a mechanistic view of nature; nature is a complex machine, and
machines can be controlled if one has the right expertise; people do not
believe in luck or predestination
Globalization
has impacted the aspects of the international community
____________
culture: time moves around in cycles; people tend to do several things at a
time; time is flexible and intangible
____________status
refers to what an individual does and has accomplished
Three
branches of Judaism include
In a(n)
____________ culture, people place the individual before the community;
individual happiness, fulfillment, and welfare set the pace
ISO
standards specify the requirements for state-of-the-art products, services,
processes, materials and systems, and for good conformity assessment,
managerial and organizational practice
Economic
health is considered positive when a country imports considerably more than it
exports
Which of the
following is NOT a driving force of Globalization
Which of the
following is NOT true about globalization
Regardless
of the managerial-cultural paradigm in use, the business professional
recognizes that an understanding of the major dimensions of culture is
essential for success in doing business overseas
Barriers to
trade include all of the following except
The
antibribery provisions of the OECD make it unlawful for a U.S. person, and
certain foreign issuers of securities, to make a corrupt payment to a foreign
official for the purpose of securing business with or directing business to any
person
In
high-context cultures, enforceable contracts will tend to be in writing,
precisely worded, and highly legalistic. High-context cultures value
directness. Managers are expected to be explicit and precise in conveying
intended meaning
Foreign
direct investment is an attractive option for firms looking to diversify their
investment portfolios, creating opportunities for firms looking to enter
emerging markets
The Premise
of the ____________ was that Leadership effectiveness is contextual and is
embedded in the societal and organizational beliefs, norms, and values of the
people being led
As
globalization becomes more embedded in daily life, tolerance must continue to
increase in order to avoid unnecessary polarization—again reinforcing the
notion that globalization is not assimilation
Synchronic
cultures tend to do one thing at a time view time as a narrow line of distinct,
consecutive, segments
The global
business manager must resist any urge to instinctively trust line managers and
instead apply his or her discipline and critical thinking capacity to formulate
decisions that are most conducive to the international operating environment
Communication
between two cultures can be awkward if professionals do not conduct proper
research
The antibribery provisions of the OECD make it unlawful for
a U.S. person, and certain foreign issuers of securities, to make a corrupt
payment to a foreign official for the purpose of securing business with or
directing business to any person
As globalization becomes more embedded
in daily life, tolerance must continue to increase in order to avoid
unnecessary polarization—again reinforcing the notion that globalization is not
assimilation
Congress enacted the Foreign Corrupt Practices Act (FCPA) to
bring a halt to the bribery of foreign officials and to restore public
confidence in the integrity of the U.S. business system
Foreign direct investment is an attractive option for firms
looking to diversify their investment portfolios, creating opportunities for
firms looking to enter emerging markets
Which of the following is a dimension in Fons Trompenaar's
Model of Culture
Effective, cross-cultural communicators must know how to
properly pronounce words, how to properly spell words, and how to use these
words in proper grammatical form
Internalistic cultures have a mechanistic view of nature;
nature is a complex machine, and machines can be controlled if one has the
right expertise; people do not believe in luck or predestination
In high-context cultures, enforceable contracts will tend to
be in writing, precisely worded, and highly legalistic. High-context cultures
value directness. Managers are expected to be explicit and precise in conveying
intended meaning
Trompenaar believed that every culture distinguishes itself
from others by the specific solutions it chooses to certain problems and
dilemmas
Synchronic cultures tend to do one thing at a time view time
as a narrow line of distinct, consecutive, segments
An ascribed status is one that society assigns to an individual
on the basis of factors over which the individual has no control: gender, race,
ethnic background, and socioeconomic status, into which one is born
The World Trade Organization (WTO) was established in the
early 1970s to help foster international trade and resolve disputes
Polycentric managers believe that home-country nationals are
more intelligent, reliable, and trustworthy than foreign
The Industrial Revolution heralded the introduction of which
of the following
Conducted
extensive research on different countries, and from that, developed his “Seven
Dimensions of Cultural Model.”
Which
aspect of globalization is incorrect
NAFTA
was a major contributor to continental trade growth between the United States,
Mexico, and Canada because it eased quotas, tariffs, and customs procedures
When
the topic of culture is discussed 3 major culture paradigms should be
considered: Ethnocentric, Polycentric, and Multicentric
Which
best describes communication within high context societies
Communication
in a high context society is often characterized by strong boundaries—who is
accepted as belonging vs. who is considered an “outsider.”
Global
and domestic business are different in what distinct ways
Globalization
has impacted the
Forces
driving the trend towards globalization include all except
I
completed the following portion of the work book and read the required chapter
Foreign Direct Investment is an attractive
option for firms looking to diversify their investment portfolios, creating
opportunities for firms looking to enter emerging markets.
As globalization becomes more embedded in
daily life, tolerance must continue to increase in order to avoid unnecessary
polarization - again reinforcing the notion that globalization is not
assimilation.
The global business manager must possess a
strong domestic awareness and must understand the unique factors that
contribute to the success of a global business, including vast working
experience.
Advocates for globalization believe that
globalization promotes:
The global business manager must resist
any urge to instinctively trust line managers and instead apply his or her
discipline and critical thinking capacity to formulate decisions that are most
conducive to the international operating environment.
Began towards the end of the nineteenth
century, creates interdependencies among nations, requires transparency
International exchange is a recent
concept.
United States' imports primarily came from
which country:
Standardization requires that business
people understand the seamless international marketplace
The Pax Romana heralded the introduction
of mass production, improved transportation, technological progress, and the
industrial factory system
Heralded mass production and technological
progress, improved transportation
NAFTA facilitated the importation and
exportation of goods and services between the US, Mexico, and Canada
Three barriers to trade:
Radio and telephone networks were
widespread in developed nations, the launch of the Sputnik 1 satellite, the
personal desktop computer became a commonplace household fixture
Economic health is considered positive
when a country imports considerably more than it exports.
Three driving forces of globalization:
Pax Americana, Latin for "American
peace," is the period of relative peace in the Western world since the end
of World War II in 1945, coinciding with the dominant military and economic
position of the U.S.
Given the choices Mergers/Acquisitions,
Subsidies, and Sanctions - which of the following is a barrier to trade?
Globalization has created what critics
refer to as a melting pot or peaceful cooperation of various cultural
identities
ISO standards specify the requirements for
state-of-the-art products, services, processes, materials and systems, and for
good conformity assessment, managerial and organizational practice.
ISO stands for
Globalization has impacted these aspects
of the international community:
What is a type of political risk for
global managers?
The World Trade Organization (WTO) was
established in the early 1970s to help foster international trade and resolve
disputes
KSA stands for
Regardless of the managerial-cultural paradigm in use, the
business professional recognizes that an understanding of the major dimensions
of culture is essential for success in doing business overseas.
Between what years did Fons Trompenaar apply the subset of
cultural dimensions to the field of business management, segregating them into
independent areas to be further divided in order to get a more precise
understanding
Trompenaar believed that every culture distinguishes itself
from others by the specific solutions it chooses to certain problems and
dilemmas
The premise of [what] was that Leadership effectiveness is
contextual and is embedded in the societal and organizational beliefs, norms,
and values of the people being led.
A set of shared attitudes, values, goals, practices that
characterize a society
The three cultural paradigms are:
Effective, cross-cultural communicators must know how to
properly pronounce words, how to properly spell words, and how to use these
words in proper grammatical form
What paradigm promotes openness towards other cultures,
opinions, and ways of life?
Polycentricism is the opposite of what other paradigm?
Managers of this paradigm think home-country nationals are
more intelligent, reliable, and trustworthy than foreign.
The geocentric organization's primary objective is to
develop an integrated system with a [what] approach?
Different cultures and languages may not always present or
interpret messages in the same context.
The study of ethical dilemmas, values, and decision-making
in the world of business; should not be considered a separate disciple from
ethics
The idea that knowledge is situational and relational is
characteristic of a [high/low?] context culture
Congress enacted [what] to bring a halt to the bribery of
foreign officials and to restore public confidence in the integrity of the U.S.
business system
The anti-bribery provisions of the [what] make it unlawful
for a U.S. person, and certain foreign issuers of securities, to make a corrupt
payment to a foreign official for the purpose of securing business with or
directing business to any person
Three branches of Judaism
5 pillars of faith in the Muslim religion
A status that society assigns to an individual on the basis
of factors over which the individual has no control: gender, race, ethnic
background, and socioeconomic status, into which one was born
In [high/low?] context cultures, enforceable contracts will
tend to be in writing, precisely worded, and highly legalistic. They value
directness. Managers are expected to be explicit and precise in conveying
intended meaning.
Sees the ideal culture in terms of human friendship,
extraordinary achievement and situations, and intimate relationships
people place the individual before the community;
individual happiness, fulfillment, and welfare set the pace
Share the belief that general rules, codes, values, and
standards take precedence over particular needs and claims of friends and relations
Time moves around in cycles; people tend to do several
things at a time; time is flexible and intangible
Status that refers to what an individual does and has
accomplished
Culture that tends to do one thing at a time and view time
as a narrow line of distinct, consecutive, segments
Culture where people start with the whole and see each
element in perspective of the total; the whole is more important than the sum
of its elements. Individuals have a large private sphere and a small public
one.
Cultures that have a mechanistic view of nature; nature is
a complex machine, and machines can be controlled if one has the right
expertise; people do not believe in luck or predestination
Foreign Direct Investment is an attractive option for firms
looking to diversify their investment portfolios, creating opportunities for
firms looking to enter emerging markets.
As globalization becomes more embedded in daily life,
tolerance must continue to increase in order to avoid unnecessary polarization
- again reinforcing the notion that globalization is not assimilation.
The global business manager must possess a strong domestic
awareness and must understand the unique factors that contribute to the success
of a global business, including vast working experience.
The global business manager must resist any urge to
instinctively trust line managers and instead apply his or her discipline and
critical thinking capacity to formulate decisions that are most conducive to
the international operating environment.
International exchange is a recent concept.
Standardization requires that business people understand
the seamless international marketplace
The Pax Romana heralded the introduction of mass
production, improved transportation, technological progress, and the industrial
factory system
NAFTA facilitated the importation and exportation of goods
and services between the US, Mexico, and Canada
Economic health is considered positive when a country
imports considerably more than it exports.
Pax Americana, Latin for "American peace," is the
period of relative peace in the Western world since the end of World War II in
1945, coinciding with the dominant military and economic position of the U.S.
Globalization has created what critics refer to as a
melting pot or peaceful cooperation of various cultural identities
ISO standards specify the requirements for state-of-the-art
products, services, processes, materials and systems, and for good conformity
assessment, managerial and organizational practice.
The World Trade Organization (WTO) was established in the
early 1970s to help foster international trade and resolve disputes
Regardless of the managerial-cultural paradigm in use, the
business professional recognizes that an understanding of the major dimensions
of culture is essential for success in doing business overseas.
from 1967-1973, Fons Trompenaar applied the subset of
cultural dimensions to the field of business management
Trompenaar believed that every culture distinguishes itself
from others by the specific solutions it chooses to certain problems and
dilemmas
effective, cross-cultural communicators must know how to
properly pronounce words, how to properly spell words, and how to use these
words in a proper grammatical form
Polycentric managers think home-country nationals are more
intelligent, reliable and trustworthy than foreign
Business ethics is the study of ethical dilemmas, values,
and decision making in the world of business. business ethics should not be
considered a separate disciple from ethics
Congress enacted the Foreign Corrupt Practices Act to bring
a halt to the bribery of foreign officials
The anti-bribery provisions of the OECD make it unlawful
for a US person, and certain foreign issuers of securities, to make corrupt
payment to a foreign official for the purpose of securing business with or
directing business to any person
An ascribed status is one assigns to an individual on the
basis of factors over which the individual has no control: gender, race, ethnic
background, and socioeconomic status, into which one is born
in high-context cultures, enforceable contracts will tend
to be in writing, precisely worded, and highly legalistic.
communication between two cultures can be awkward if
professionals do not conduct proper research
People in a particularism culture see the ideal culture in
terms of human friendship, extraordinary achievement and situations, and
intimate relationships
Synchronic culture tend to do one thing at a time view time
as a narrow line of distinct, consecutive, segments
Internalistic cultures have a mechanistic view of nature;
nature is a complex machine, and machines can be controlled if one has the
right expertise; people do not believe in luck or predestination
Nations that primarily functioned under the centrally
planned economic system prior to the 1980s, such as China and Russia, have
embraced the market economy.
Global business risk is any worldwide factor—outside the
laws of supply and demand—that could impact the success or failure of any
venture moving into the international arena.
Operation risk occurs when debtors in a country are unable
to ensure timely payments of foreign currency debt service because of either
transfer or exchange restrictions or a general lack of foreign currency
The Organization for Economic Cooperation and Development
(OECD), the World Trade Organization, the World Bank, and the International
Monetary Fund have all indicated that unstable political systems are the
greatest single barrier to economic development worldwide.
Any company considering moving into a foreign economic
market must consider the powerful influence of the military and religious
leadership.
Cultures such as China, North Korea, and Cuba believe that
an economic value system should be founded on cumulative efforts, controlled by
greater entities or governments.
A market economy most often refers to an economic system
that is under comprehensive control and regulation by a government, in
accordance with the plan of economic development.
The three types of global business risk include ownership risk,
operational risk, and transfer risk.
In 1975, as business and policy makers' alike saw the
potential growth of global business, the World Trade Organization (WTO) was
created by several countries in order to monitor trade around the entire world.
The U.S. Department of Commerce developed the International
Trade Administration (ITA) in order to stimulate economic opportunities for
U.S. businesses and their employees.
The United States Department of the Treasury oversees and
enforces all U.S. economic sanctions through the Office of Foreign Assets
Control (OFAC).
Though the World Trade Organization (WTO) has officially
existed since 1975, the foundation for the rules in this trading system
originates in the GATT.
As organizations become more involved in the global
community, they may opt to purchase land or other resources in other nations.
This activity, known as foreign direct investment (FDI), is commonly used to
purchase real estate and existing properties
The General Agreement on Tariffs and Trade (GATT) was
signed on January 1, 1948
Keeping track of the activity surrounding international
trade and investment is done by maintaining a record of all international
transactions, otherwise known as the balance of payments (BOP).
The equation represents the relationship between trade
deficits and surpluses is expressed as: Exports - Investments = Savings -
Imports
Government interventions may be used to decrease global
competitiveness
The WTO encourages nations to practice the Golden Rule on a
national level, pointing out that foreigners and foreign industries should be
treated just like the locals and domestic industries
Socialism is the economic policy of restraining trade
between nations
Equity capital is the value of the MNC's investment in
shares of an enterprise in a foreign country.
Ownership in foreign entities can be a complete or a
controlling stake in the form of either a joint venture or through stock
purchases and acquisitions of existing corporations.
responsible for different types of management activities
link ocean, rail, automotive, air transportation to allow
real-time movement
one nation trades with a firm located in another nation
provides a venue for guidelines in a free trade market
failed internal process/people=risk of monetary losses
formal recognition of legal limitations on a king's power
the prohibition of commerce/trade with a certain nation
gov't actions inhibit control of foreign operations
different products similar to current lines
growing integration of economies/societies worldwide
reductions in barriers to trade
tempering effects of local conditions on global pressures
includes the risk of debt consolidation
immigrants isolated from their home country
different products not similar to current lines
removes boundaries of local market territory to increase
potential market audience
help foster international trade and resolve disputes
american peace
expands competitive scope within same industry
conveys the ideal global business manager's qualification
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