question

Diversity Ch 17

answer

describes race, gender, age, and other individual differences

question

Inclusivity Ch 17

answer

is how open the organization is to anyone who can perform a job

question

Multicultural Organization Ch 17

answer

is based on pluralism and operates with inclusivity and respect for diversity

question

Organizational Subcultures Ch 17

answer

are groupings of people based on shared demographic and job identities

question

Ethnocentrism Ch 17

answer

is the belief that one's membership group or subculture is superior to all others

question

Glass Ceiling Ch 17

answer

is a hidden barrier to the advancement of women and minorities

question

Bioculturalism Ch 17

answer

is when minority members adopt characteristics of majority cultures in order to succeed

question

Managing Diversity Ch 17

answer

is building an inclusive work environment that allows everyone to reach their potential

question

Culture Shock Ch 17

answer

is the confusion and discomfort that a person experiences when in an unfamiliar culture

question

Cultural Intelligence Ch 17

answer

is the ability to adapt to new cultures

question

Low-Context Cultures Ch 17

answer

emphasize communication via spoken or written words

question

High-Context Cultures Ch 17

answer

rely on nonverbal and situational cues as well as spoken or written words in communication

question

Monochronic Cultures Ch 17

answer

people tend to do one thing at a time

question

Polychronic Cultures Ch 17

answer

people accomplish many different things at once

question

Proxemics Ch 17

answer

is the study of how people use interpersonal space

question

Power Distance Ch 17

answer

is the degree to which a society accepts unequal distribution of power

question

Uncertainty Avoidance Ch 17

answer

is the degree to which a society tolerates risk and uncertainty

question

Individualism-Collectivism Ch 17

answer

is the degree to which a society emphasizes individuals and their self interests

question

Masculinity-Femininity Ch 17

answer

is the degree to which a society values assertiveness and materialism

question

Time Orientation Ch 17

answer

is the degree to which a society emphasizes short-term or long-term goals

question

Ecological Fallacy Ch 17

answer

assumes that a generalized cultural value applies equally well to all members of the culture

question

Global Economy Ch 18

answer

resources, markets, and competition are worldwide in scope

question

Globalization Ch 18

answer

is the process of growing interdependence among elements of the global economy

question

Insourcing Ch 18

answer

is the creation of domestic jobs by foreign employers

question

Outsourcing Ch 18

answer

shifts local jobs to foreign locations to take advantage of lower-wage labor in other countries

question

International Business Ch 18

answer

conducts commercial transactions across national boundaries

question

Global Sourcing Ch 18

answer

firms purchase materials or services around the world for local use

question

Exporting Ch 18

answer

local products are sold abroad

question

Importing Ch 18

answer

is the process of acquiring products abroad and selling them in domestic markets

question

Licensing Ch 18

answer

one firm pays a fee for rights to make or sell another company's products

question

Franchising Ch 18

answer

a firms pays a fee for rights to use another company's name and operating methods

question

Joint Venture Ch 18

answer

operates in a foreign country through co-ownership with local partners

question

Global Strategic Alliance Ch 18

answer

each partner hopes to achieve through cooperation things they couldn't do alone

question

Foreign Subsidiary Ch 18

answer

is a local operation completely owned by a foreign firm

question

Greenfield Venture Ch 18

answer

establishes a foreign subsidiary by building an entirely new operation in a foreign country

question

World Trade Organization (WTO) Ch 18

answer

is a global institution established to promote free trade and open markets around the world

question

Most Favored Nation Status Ch 18

answer

gives a trading partner the most favorable treatment for imports and exports

question

Tariffs Ch 18

answer

are taxes governments levy on imports from abroad

question

Protectionism Ch 18

answer

is a call for tariffs and favorable treatments to protect domestic firms from foreign competition

question

Global Corporation / Multinational Corporation Ch 18

answer

has extensive international business dealings in many foreign countries

question

Transnational Corporation Ch 18

answer

is an MNC that operates worldwide on a borderless basis

question

Corruption Ch 18

answer

involves illegal practices to further one's business interests

question

Foreign Corrupt Practices Act Ch 18

answer

makes it illegal for U.S. firms and their representatives to engage in corrupt practices overseas

question

Sweatshops Ch 18

answer

employ workers at very low wages, for long hours, and in poor working conditions

question

Child Labor Ch 18

answer

is the full-time employment of children for work otherwise done by adults

question

Sustainable Development Ch 18

answer

meets the needs of the present without hurting future generations

question

Currency Risk Ch 18

answer

is possible loss because of fluctuating exchange rates

question

Political Risk Ch 18

answer

is the possible loss of investment in or control over a foreign asset because of instability and political changes in the host country

question

Political-Risk Analysis Ch 18

answer

forecasts how political events may impact foreign investments

question

Expatriate Ch 18

answer

lives and works in a foreign country

question

Global Manager Ch 18

answer

is culturally aware and informed on international affairs

question

Entrepreneurship Ch 19

answer

is dynamic, risk-taking, creative, grown-oriented behavior

question

Entrepreneur Ch 19

answer

is willing to pursue opportunities in situations that others view as problems or threats

question

First-Mover Advantage Ch 19

answer

comes from being first to exploit a niche or enter a market

question

Intrapreneurs Ch 19

answer

display entrepreneurial behavior as employees of larger firms

question

Social Entrepreneur Ch 19

answer

takes risks to find new ways to solve pressing social problems

question

Small Business Ch 19

answer

has fewer than 500 employees, is independently owned and operated, and does not dominate its industry

question

Family Businesses Ch 19

answer

are owned and financially controlled by family members

question

Family Business Feud Ch 19

answer

can lead to small business failure

question

Succession Problem Ch 19

answer

is the issue of who will run the business when the current head leaves

question

Succession Plan Ch 19

answer

describes how the leadership transition and related financial matters will be handled

question

Business Plan Ch 19

answer

describes the direction for a new business and the financing needed to operate it

question

Sole Proprietorship Ch 19

answer

is an individual pursuing business for a profit

question

Partnership Ch 19

answer

is when two or more people agree to contribute resources to start and operate a business together

question

General Partnership Ch 19

answer

owners share management responsibilities

question

Limited Partnership Ch 19

answer

consists of a general partner who manages the business and one or more limited partners

question

Corporation Ch 19

answer

is a legal entity that exists separately from its owners

question

Limited Liability Corporation LLC Ch 19

answer

combines the advantages of the sole proprietorship, partnership, and corporation

question

Debt Financing Ch 19

answer

involves borrowing money from another person, a bank, or a financial institution

question

Equity Financing Ch 19

answer

gives ownership shares to outsiders in return for their financial investments

question

Venture Capitalists Ch 19

answer

make large investments in new ventures in return for an equity stake in the business

question

Initial Public Offering (IPO) Ch 19

answer

is an initial selling of shares of stock to the public at large

question

Angel Investor Ch 19

answer

is a wealthy individual willing to invest in return for equity in a new venture

question

John is a marketing manager who thinks that those finance people just don't understand the business like marketing people do. John is likely a part of a __________ subculture. Ch 17

answer

occupational

question

____________ is the belief that one's membership group is superior to others. Ch 17

answer

Ethnocentrism

question

The three types of subcultures are occupational, ethnic and __________ . Ch 17

answer

gender

question

Glass ceilings are problematic because: Ch 17

answer

most top executives are older, white males and there is little opportunity for others.

question

Lasana, a black male, is a first-line manager at International Parts Inc. Lasana loves soul food but never brings it to work. Instead his lunch usually consists of chicken or ham sandwiches because he believes it will be better for his career. Lasana is practicing ___________ . Ch 17

answer

biculturalism

question

The three steps in Roosevelt Thomas' continuum of leadership approaches to diversity are affirmative action, managing diversity and ___________ . Ch 17

answer

valuing diversity

question

The most productive end of the diversity leadership continuum involves active inclusion of diversity in organizational operations with a goal of multiculturalism and is known as: Ch 17

answer

managing diversity.

question

Which of the following is not one of the stages of adjusting to a new culture? Ch 17

answer

comfort

question

The last stage in adjusting to a new culture is ___________ Ch 17

answer

reality

question

The ability to adapt to new cultures is called cultural ___________ . Ch 17

answer

intelligence

question

All of the following are aspects of cultural intelligence except: Ch 17

answer

consistency and commitment to maintain your home cultural behaviors.

question

A culture that relies mainly on the written and spoken word is called a ___________ culture. Ch 17

answer

low-context culture

question

A culture in which people do one thing at a time is called a ___________ culture Ch 17

answer

monochronic

question

The study of how people use interpersonal space is called __________ . Ch 17

answer

proxemics

question

According to Hofstede's dimensions of national cultures, ___________ is the degree to which a society emphasizes short-term or long term goals. Ch 17

answer

time orientation

question

An economy in which resources, markets and competition are worldwide in scope is called a _________ economy. Ch 18

answer

global

question

A business that conducts commercial transactions across national boundaries is called a/an ________ business. Ch 18

answer

international

question

Purchasing the rights to make or sell another company's products is called ____________ . Ch 18

answer

licensing

question

Because this type of international business creates jobs locally, governments often support these endeavors. Ch 18

answer

exporting

question

McDonald's has outlets in Japan. McDonald's provides the Japanese operation with the rights to use McDonald's name, material and processes but the operation is owned and managed by Japanese. The Japanese operation would be considered a ____________ . Ch 18

answer

franchise

question

Better Boots Inc. wishes to market their products in the Far East but, although better boots has the design and manufacturing capability, the company lacks the distribution channels and knowledge of the Far East cultures necessary to market their products. Bill Somebody, president of Better Boots, has decided to form a partnership with Far East Boots, an Asian company. Far East boots will provide the marketing know how that Better Boots lacks. The company will be jointly owned and independently operated. Better Boots is forming a __________ with Far East Boots. Ch 18

answer

joint venture

question

A joint venture is a form of ____________ in which each partner invests in and accepts the risks and rewards of the venture. Ch 18

answer

strategic global alliance

question

A trading partner that receives the most favorable treatment for imports and exports is said to have ___________ status. Ch 18

answer

most favored nation

question

__________ is the application of tariffs and special treatment for local firms from foreign competition. Ch 18

answer

Protectionism

question

The biggest difference between an international business and a transnational business is that the transnational business tries to operate ___________ . Ch 18

answer

without a strong national identity

question

___________ involves illegal practices to protect one's own business. Ch 18

answer

Corruption

question

The Foreign Corrupt Practices Act prevents U.S. firms from: Ch 18

answer

paying bribes or giving excess commissions in exchange for favors.

question

The concept that corporations should participate in development that meets present needs without compromising the ability of future generations to meet their needs is called ___________ . Ch 18

answer

sustainable development

question

Corporations, for tax purposes, may decide to keep their profits in a foreign country or to transfer them to their corporate headquarters in their home country. The decision of what to do is often a matter of __________ . Ch 18

answer

currency risks

question

Catherine has been asked by her company to gain international experience by working in Europe for two years. If she accepts the offer, Catherine will become a(n) ___________ . Ch 18

answer

expatriate

question

Employees in large corporations who take significant risk and display entrepreneurial behavior are called _________ . Ch 19

answer

intrapreneurs

question

Research indicates that while not absolutely required, most entrepreneurs have the following trait(s): Ch 19

answer

self-confident and self-reliant

question

Small business ownership offers great opportunities, with the fastest growing segment being ____________ owned businesses. Ch 19

answer

African-American

question

Entrepreneurship that is targeted at solving the problems of the poor and disadvantaged is called _____________ entrepreneurship. Ch 19

answer

social

question

Small businesses are defined as having less than _________ employees. Ch 19

answer

500

question

The U.S. government defines a small business as a ___________ . Ch 19

answer

privately owned and operated business

question

Small business makes up at least ___________ percent of U.S. companies. Ch 19

answer

90

question

Small business employs over ___________ percent of America's private workers. Ch 19

answer

50

question

At what stage in the lifecycle of a business is professional management experience the most important? Ch 19

answer

breakthrough

question

The _________ stage of the life cycle of an entrepreneurial firm involves refining the strategy, investing wisely and staying flexible. Ch 19

answer

mature

question

According to the U.S. government, at least __________ percent of small businesses fail in their first five years. Ch 19

answer

60

question

Most of the failures of small start-up companies can be related to __________ . Ch 19

answer

lack of professional management skills

question

A small business that consists of an individual or husband and wife only is called a __________ . Ch 19

answer

sole proprietorship

question

The two types of partnerships are __________ and ____________ . Ch 19

answer

general / limited

question

Which form of financing would give you the most control, but less flexibility in cash flows? Ch 19

answer

debt financing

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