BUSMHR 2000 TEST PAPER 2025/2026 QUESTIONS WITH
SOLUTIONS RATED A+
✔✔state-owned enterprises (SOEs) - ✔✔account for a substantial portion of economic
value added in many countries
✔✔multinational enterprise - ✔✔a large company with substantial resources that
performs various business activities through a network of subsidiaries and affiliates
located in multiple countries
✔✔small and medium-sized enterprises (SMEs) - ✔✔are manufacturers or service
providers with fewer than 500 employees
✔✔born global firm - ✔✔a young entrepreneurial company that initiates international
business activity very early in its evolution, moving rapidly into foreign markets
✔✔globalization of markets - ✔✔the gradual integration and growing interdependence
of national economies
✔✔value chain - ✔✔the sequence of value-adding activities the firm performs in the
course of developing, producing, marketing, and servicing a product
✔✔1st phase of globalization - ✔✔1830-1880, associated with use of water and steam
power to mechanize production and power ships and trains
✔✔2nd phase of globalization - ✔✔began in 1900s, associated with the rise of
electricity and steel production
✔✔3rd phase of globalization - ✔✔began after WW2, associated with reconstruction
efforts after the war and the dismantling of trade barriers
✔✔4th phase of globalization - ✔✔began in early 1980s, featured the use of electronics
and information technology to automate production
✔✔5th phase of globalization - ✔✔began around 2007 with rise of digital technologies
✔✔essential elements of culture - ✔✔1. cross-cultural risk
2. dimensions
3. language
4. religion
5. models and explanations
6. managerial implications
, ✔✔culture - ✔✔refers to the values, beliefs, customs, arts, and other products of human
thought and work that characterize the people of a given society
✔✔socialization - ✔✔process of learning the rules and behavioral patterns appropriate
to one's society
✔✔acculturation - ✔✔process of adjusting and adapting to a culture other than one's
own
✔✔values - ✔✔represent a person's judgements about what is good or bad, acceptable
or unacceptable, important or unimportant, and normal or abnormal
✔✔atitudes - ✔✔similar to opinions but are often unconsciously held or may not be
based on logistical facts
✔✔monochronic - ✔✔rigid orientation where people are focused on schedules,
punctuality, and time as a resource
✔✔polychronic - ✔✔instead of performing single tasks serially, people are inclined to do
many things at once
✔✔idiom - ✔✔an expression whose symbolic meaning is different from its actual or
literal meaning
✔✔cultural metaphor - ✔✔a distinctive tradition or institution that is strongly associated
with a particular society
✔✔low-context cultures - ✔✔rely heavily on spoken works and detailed verbal
explanations
✔✔high-context cultures - ✔✔emphasize nonverbal messages and view communication
as a means to promote smooth, harmonious relationships
✔✔low power distance - ✔✔the gaps between the powerful and weak are small
✔✔high power distance - ✔✔do not care very much about inequalities and allow them
to grow over time
✔✔uncertainty avoidance - ✔✔the extent to which individuals can tolerate risk and
uncertainty in their lives
✔✔masculine cultures - ✔✔people put high priority on achievement, ambition, and
economic growth
SOLUTIONS RATED A+
✔✔state-owned enterprises (SOEs) - ✔✔account for a substantial portion of economic
value added in many countries
✔✔multinational enterprise - ✔✔a large company with substantial resources that
performs various business activities through a network of subsidiaries and affiliates
located in multiple countries
✔✔small and medium-sized enterprises (SMEs) - ✔✔are manufacturers or service
providers with fewer than 500 employees
✔✔born global firm - ✔✔a young entrepreneurial company that initiates international
business activity very early in its evolution, moving rapidly into foreign markets
✔✔globalization of markets - ✔✔the gradual integration and growing interdependence
of national economies
✔✔value chain - ✔✔the sequence of value-adding activities the firm performs in the
course of developing, producing, marketing, and servicing a product
✔✔1st phase of globalization - ✔✔1830-1880, associated with use of water and steam
power to mechanize production and power ships and trains
✔✔2nd phase of globalization - ✔✔began in 1900s, associated with the rise of
electricity and steel production
✔✔3rd phase of globalization - ✔✔began after WW2, associated with reconstruction
efforts after the war and the dismantling of trade barriers
✔✔4th phase of globalization - ✔✔began in early 1980s, featured the use of electronics
and information technology to automate production
✔✔5th phase of globalization - ✔✔began around 2007 with rise of digital technologies
✔✔essential elements of culture - ✔✔1. cross-cultural risk
2. dimensions
3. language
4. religion
5. models and explanations
6. managerial implications
, ✔✔culture - ✔✔refers to the values, beliefs, customs, arts, and other products of human
thought and work that characterize the people of a given society
✔✔socialization - ✔✔process of learning the rules and behavioral patterns appropriate
to one's society
✔✔acculturation - ✔✔process of adjusting and adapting to a culture other than one's
own
✔✔values - ✔✔represent a person's judgements about what is good or bad, acceptable
or unacceptable, important or unimportant, and normal or abnormal
✔✔atitudes - ✔✔similar to opinions but are often unconsciously held or may not be
based on logistical facts
✔✔monochronic - ✔✔rigid orientation where people are focused on schedules,
punctuality, and time as a resource
✔✔polychronic - ✔✔instead of performing single tasks serially, people are inclined to do
many things at once
✔✔idiom - ✔✔an expression whose symbolic meaning is different from its actual or
literal meaning
✔✔cultural metaphor - ✔✔a distinctive tradition or institution that is strongly associated
with a particular society
✔✔low-context cultures - ✔✔rely heavily on spoken works and detailed verbal
explanations
✔✔high-context cultures - ✔✔emphasize nonverbal messages and view communication
as a means to promote smooth, harmonious relationships
✔✔low power distance - ✔✔the gaps between the powerful and weak are small
✔✔high power distance - ✔✔do not care very much about inequalities and allow them
to grow over time
✔✔uncertainty avoidance - ✔✔the extent to which individuals can tolerate risk and
uncertainty in their lives
✔✔masculine cultures - ✔✔people put high priority on achievement, ambition, and
economic growth
