MGT 301 Exam 1 Kirn UPDATED Exam
Questions and CORRECT Answers
multinational corporation - CORRECT ANSWER - An organization that manufactures and
markets products in many different countries
multinational organization - CORRECT ANSWER -
The three principal organizations designed to facilitate international trade: - CORRECT
ANSWER - World Trade Organization, World Bank, International Monetary Fund
Organizations must stay ahead in four areas: - CORRECT ANSWER - Being responsive to
customers, Innovation, Quality, Efficiency
Efficiency - CORRECT ANSWER - The percentage of the input work that is converted to
output work
Effectiveness - CORRECT ANSWER - accomplishing tasks that help fulfill organizational
objectives
Triple Bottom Line - CORRECT ANSWER - people, planet, profit
Expatriates - CORRECT ANSWER - Often leave their foreign assignments early due to
the challenges of adjusting to overseas assignments and embracing a different culture as part of
everyday living.
Mintzburgs useful findings - CORRECT ANSWER - Manager relies more on verbal than
written communication, Manager works long hours at an intense pace, Manager's work is
characterized by fragmentation, brevity and variety
, Competitiveness - CORRECT ANSWER - set of institutions, policies, and factors that
determine the level of productivity of a country
Globalization - CORRECT ANSWER - The trend of the world economy towards a more
interdependent system
competitive advantage - CORRECT ANSWER - a set of unique features of a company and
its products that are perceived by the target market as significant and superior to those of the
competition
Hawthorne effect - CORRECT ANSWER - Employees worked harder if they received
added attention, if they thought that managers cared about their welfare, or that supervisors paid
special attention to them.
Tariffs - CORRECT ANSWER - Taxes on imported goods
Joint Ventures - CORRECT ANSWER - when two or more companies join forces -
sharing resources, risks, and profits, but not actually merging companies - to pursue specific
opportunities
What is the Lowest risk & investment - CORRECT ANSWER - global outsourcing
global outsourcing (offshoring) - CORRECT ANSWER - using suppliers outside the
United States to provide labor, goods, or services
Importing, Exporting, Countertrading - CORRECT ANSWER - -importing - a company
buys goods outside the country and resells them domestically
-Exporting - a company produces goods domestically and sells them outside the country
-Countertrading - bartering goods for goods
Questions and CORRECT Answers
multinational corporation - CORRECT ANSWER - An organization that manufactures and
markets products in many different countries
multinational organization - CORRECT ANSWER -
The three principal organizations designed to facilitate international trade: - CORRECT
ANSWER - World Trade Organization, World Bank, International Monetary Fund
Organizations must stay ahead in four areas: - CORRECT ANSWER - Being responsive to
customers, Innovation, Quality, Efficiency
Efficiency - CORRECT ANSWER - The percentage of the input work that is converted to
output work
Effectiveness - CORRECT ANSWER - accomplishing tasks that help fulfill organizational
objectives
Triple Bottom Line - CORRECT ANSWER - people, planet, profit
Expatriates - CORRECT ANSWER - Often leave their foreign assignments early due to
the challenges of adjusting to overseas assignments and embracing a different culture as part of
everyday living.
Mintzburgs useful findings - CORRECT ANSWER - Manager relies more on verbal than
written communication, Manager works long hours at an intense pace, Manager's work is
characterized by fragmentation, brevity and variety
, Competitiveness - CORRECT ANSWER - set of institutions, policies, and factors that
determine the level of productivity of a country
Globalization - CORRECT ANSWER - The trend of the world economy towards a more
interdependent system
competitive advantage - CORRECT ANSWER - a set of unique features of a company and
its products that are perceived by the target market as significant and superior to those of the
competition
Hawthorne effect - CORRECT ANSWER - Employees worked harder if they received
added attention, if they thought that managers cared about their welfare, or that supervisors paid
special attention to them.
Tariffs - CORRECT ANSWER - Taxes on imported goods
Joint Ventures - CORRECT ANSWER - when two or more companies join forces -
sharing resources, risks, and profits, but not actually merging companies - to pursue specific
opportunities
What is the Lowest risk & investment - CORRECT ANSWER - global outsourcing
global outsourcing (offshoring) - CORRECT ANSWER - using suppliers outside the
United States to provide labor, goods, or services
Importing, Exporting, Countertrading - CORRECT ANSWER - -importing - a company
buys goods outside the country and resells them domestically
-Exporting - a company produces goods domestically and sells them outside the country
-Countertrading - bartering goods for goods
