Chapter 3 Business In The Global Economy Test Answers

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  Answer Answer: Departmental In Industrial policy of govt, decided to de-investment of ……. Multinational company in a country exploit the consumer by …….. Joint courage gives inspiration for ……….

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• [FREE] Chapter 3 Business In The Global Economy Test Answers

  Chapter 3 Managing in a Global Environment Every organization is affected in some way by the global environment. In this chapter, will learn what managers need to know about managing globally, including regional trading alliances, how organizations...

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  Parochialism is viewing the world solely through your own perspectives, leading to an inability to recognize differences between people. Parochialism is an obstacle for many U. Managers might have one of three perspectives or attitudes toward international business: 1. A polycentric attitude is the view that the managers in the host country the foreign country where the organization is doing business know the best work approaches and practices for running their business. A geocentric attitude is a world-oriented view that focuses on using the best approaches and people from around the globe. To be a successful global manager, an individual needs to be sensitive to differences in national customs and practices. Born in India, Ms. On a recent trip to China, she spent 10 days immersing herself in China. Important features of the global environment include regional trading alliances and different types of global organizations.

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• Economics Unit 3 Test

  Regional Trading Alliances Regional trading alliances are reshaping global competition. Competition is no longer limited to country versus country, but region versus region. The European Union EU is a union of 27 European nations created as a unified economic and trade entity see Exhibit Three more countries will be gaining membership soon. Sixteen of the 27 member states of the EU have agreed to adopt the common currency of the EU, the euro.

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• Introduction To Business

  Denmark, the United Kingdom and Sweden have opted out of using the euro. The Lisbon Treaty, signed in December , provides the EU with a common legal framework to meet current challenges facing European economies, such as climate change, security and energy needs. The concept of solidarity has been a challenge as individual member states struggle with the maintaining a common currency at the same time valuing protectionist measures that foster nationalism. Another recent struggle has been the massive debt crisis of Greece which has been bailed out by the International Monetary Fund. As of , it remains the largest trading bloc in terms of combined GDP of its members.

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• A Quiz About The Global Business Environment

  Currently, only Costa Rica and El Salvador have signed onto this agreement. FTAA was to have been in effect no later than , but has not yet become operational; its future is still undetermined. In the future, the Southeast Asian region promises to be one of the fastest-growing and increasingly influential economic regions of the world.

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• Study Guide With Answers - Lawton Community Schools

  Other Trade Alliances. Membership consists of countries and 30 observer governments as of The WTO appears to play an important role even though critics are vocal and highly visible. International Monetary Fund and World Bank Group The International Monetary Fund IMF is an organization of countries that promotes international monetary cooperation and provides member countries with policy advice, temporary loans, and technical assistance to establish and maintain financial stability and to strengthen economies. The World Bank Group is a group of five closely associated institutions, all owned by its member countries, that provides vital financial and technical assistance to developing countries around the world. Organization for Economic Cooperation and Development OCED The Organization for European Economic Cooperation, formed , is a Paris-based international economic organization whose mission is to help its 30 member countries achieve sustainable economic growth and employment and raise the standard of living in member countries while maintaining financial stability in order to contribute to the development of the world economy.

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• Chapter 2 -The Management Environment

  Different Types of International Organizations Business has been conducted internationally for many years e. Heinz manufacturing their brands since , and Ford established its first overseas sales branch in France in Multinational corporations did not become popular until the mids. Global organizations can be classified in the following categories: 1. The term multinational corporation MNC is a broad term that refers to any and all types of international companies that maintain operations in multiple countries.

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  A transnational corporation TNC , sometimes called a borderless organization, is a type of international company in which artificial geographical barriers are eliminated. Your students should keep in mind that neither the national origin of a company nor the national origin of its employees is any longer a good measure of where that company conducts business. How Organizations Go International An organization that goes international typically progresses through three stages, which are illustrated in Exhibit Companies that go international may begin by using global sourcing also called global outsourcing.

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• Chapter 3 Business In The Global Economy Test Answers

  In this stage of going international, companies purchase materials or labor from around the world, wherever the materials or labor are least expensive. Beyond the stage of global sourcing, each successive stage to become more international involves more investment and risk. In the next stage, companies may go international by exporting making products domestically and selling them abroad or importing acquiring products made abroad and selling the products domestically. Both exporting and importing require minimal investment and risk. In the early stages of going international, managers may also use licensing giving another organization the right to make or sell its products using its technology or product specifications or franchising giving another organization the right to use its name and operating methods. After an organization has done international business for a period of time, managers may decide to make more of a direct investment in international markets by forming a strategic alliance, which is a partnership between an organization and a foreign company partner s.

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• BUSINESS ECONOMICS OBJECTIVE TYPE QUESTIONS CHAPTER – 1 CHOOSE THE CORRECT ANSWER

  In a strategic alliance, partners share resources and knowledge in developing new products or building production facilities. A joint venture a specific type of strategic alliance may be undertaken to allow partners to form a separate, independent organization for some business purpose. Managers may decide to make a direct investment in a foreign country by establishing a foreign subsidiary, in which a company sets up a separate and independent production facility or office.

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• Economic Lesson Plans - Edition I Unit 7

  Establishing a foreign subsidiary involves the greatest commitment of resources and the greatest risk of all of the stages in going international. The Legal-Political Environment The legal-political environment does not have to be unstable or revolutionary to be a challenge to managers. In a free market economy, resources are primarily owned by the private sector. In a planned economy, all economic decisions are planned by a central government. The Cultural Environment Countries have different cultures, just as organizations do. National culture is the values and attitudes shared by individuals from a specific country that shape their behavior and their beliefs about what is important. See Exhibit for a synopsis of American national culture. Individualism is the degree to which people in a country prefer to act as individuals rather than as members of groups. Uncertainty avoidance describes the degree to which people tolerate risk and prefer structure over unstructured situations. Hofstede identified the dimension of achievement versus nurturing.

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• Multiple Choice Quiz

  Achievement is the degree to which values such as assertiveness, the acquisition of money and material goods, and competition prevail. Nurturing emphasizes sensitivity in relationships and concern for the welfare of others. Long-term and short-term orientation. People in countries having long-term orientation cultures look to the future and value thrift and persistence. Short-term orientation values the past and present and emphasizes a respect for tradition and fulfilling social obligations. Exhibit indicates how different countries rank on these nine dimensions. The Challenge of Openness.

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• Test Bank For International Business The Challenges Of Globalization 7th Edition By Wild

  As companies compete in the international arena, the openness that is necessary to conduct business successfully in a global environment poses great challenges. The increased threat of terrorism, economic interdependence of trading countries, and significant cultural create a complicated environment in which to manage. Successful global managers need to have great sensitivity and understanding. Managers must adjust leadership styles and management approaches to accommodate culturally diverse views. Challenges of Maintaining a Global Workforce. As more businesses go global, managers have a greater need to understand the global workforce. Cultural Intelligence encompasses three main areas: knowledge of the culture, mindfulness the ability to pay attention to signals and reactions across cultural situations , and behavioral skills.

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• Leaving Cert Business

  A Global Mindset allows leaders to be effective in cross —cultural environments and includes three elements: intellectual capital, psychological capital, and social capital see Exhibit Contrast ethnocentric, polycentric, and geocentric attitudes toward global business. The ethnocentric, polycentric, and geocentric views vary by their degree to which the holder adheres to the belief that their culture is the best and their willingness to accept best approaches from other cultures. A polycentric attitude is the view that employees in the host country the foreign country in which the organization is doing business know the best work approaches and practices for running their business. Managers with this type of attitude have a global view and look for the best approaches and people regardless of origin. Describe the current status of each of the various regional trading alliances.

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• (PDF) Chapter 2 -The Management Environment | IRY4D1 BGTVVO - 1medicoguia.com

  Recently, the EU is the most active of all of the regional trading alliances. With the adoption of majority of the guiding principles established in their charter, these countries are pushing forward on reforms that will solidify the political, economic and social commonalities between their countries. However, this is not to say that the EU does not have its problems, with fears that the economic turmoil in weaker EU countries like Greece could spread to other member states.

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• Managerial Economics Problems With Solutions

  For the most part, the members of NAFTA are pleased with the economic growth results attributed to the agreement. Issues regarding certain specifics of NAFTA, such as investor disputes and claims of dumping, are still to be resolved. Contrast multinational, multidomestic, global, and transnational organizations. A multinational corporation MNC refers to a broad group of organizations and refers to any type of international company that maintains operations in multiple countries. The types of MNC vary with respect to the degree to which they decentralize decision making across countries in which they operate. One type of MNC is a multidomestic corporation, which decentralizes management and other decisions to the local country. A global company is a MCN which centralizes its management and other decisions in the home country. This type of company takes a world view of operations, seeking to maximize efficiency by producing goods that have a global appeal.

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• Instructor Manual

  Iry4d1 Bgtvvo 2. The problems with home mortgages also affected businesses as credit markets collapsed. As liquidity dried up, the worldwide economic system sputtered and nearly collapsed. The slow recovery of global economies has continued to be a constraint on organizational decisions and actions. In addition, the World Economic Forum identified two significant risks facing business leaders and policy makers over the next decade: "severe income disparity and chronic fiscal imbalances. Economic Inequality and the Economic Context a People are becoming more discontented with the income gap between the rich and everyone else.

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• Solutions Manual And Test Bank Quality Management For Organizational …

  There is no correct answer. Use this question to help students understand the relationship between the environment and managerial decision making. It's often challenging for students to see the relationship between the external environment and decision making. Ask this question midway through a discussion about external environments. One of the important organizational factors affected by changes in the external environment is jobs and employment. For example, economic downturns result in higher unemployment and place constraints on staffing and production quotas for managers. Not only does the external environment affect the number of jobs available, but it also impacts how jobs are managed and created. Changing conditions can create demands for more temporary work and alternative work arrangements B. Environments differ in their amount of environmental uncertainty, which relates to 1 the degree of change in an organization's environment and 2 the degree of complexity in that environment see Exhibit Degree of change is characterized as being dynamic or stable.

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• Understanding The Business Environment – Introduction To Business

  In a dynamic environment, components of the environment change frequently. If change is minimal, the environment is called a stable environment. The degree of environmental complexity is the number of components in an organization's environment and the extent of an organization's knowledge about those components. If the number of components and the need for sophisticated knowledge is minimal, the environment is classified as simple. If a number of dissimilar components and a high need for sophisticated knowledge exist, the environment is complex.

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• POB CHAPTER 3: BUSINESS IN THE GLOBAL ECONOMY Quiz - Quizizz

  Because uncertainty is a threat to organizational effectiveness, managers try to minimize environmental uncertainty. The more obvious and secure an organization's relationships are with external stakeholders, the more influence managers have over organizational controls. Technology includes the equipment, tools or operating processes to make work more efficient. In some cases, human labor has been replaced by electronic and computer equipment.

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• Chapter 3 Business In The Global Economy Test Answers | Homework Writing Market

  Technology has also impacted information enabling work to be done anywhere and anytime. In turn, management is impacted by technology while attempting to manage virtual employees in the way they plan, organize, lead and control. Teaching Tips:Many students assume that the loss of jobs to technology is a bad thing. What they may not think about are the positives dynamics that technology can create for the average worker. Why or why not? Stakeholders are any constituencies in the organization's external environment that are affected by the organization's decisions and actions. See Exhibit for an identification of some of the most common stakeholders. Stakeholder relationship management is important for two reasons:a It can lead to improved predictability of environmental changes, more successful innovation, greater degrees of trust among stakeholders, and greater organizational flexibility to reduce the impact of change.

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