AGEC Exam 2 Review Questions – Study Guide, Practice Questions & Flashcards
Tanner Industries Inc. has manufacturing facilities in several countries, buys raw materials on
four continents, finances its operations through lending agencies in the host country, and
markets its products worldwide. using the classification, Tanner would be an international
business. - correct answer ✔✔False
General Mills and Nestle established Cereal Partners Worldwide to compete with Kellogg in
Europe. This is an example of? - correct answer ✔✔A joint venture
Mexico requires that 50 percent of car parts sold in Mexico must be manufactured in Mexico.
This is an example of ? - correct answer ✔✔"buy national" legislation
Many safety violation were discovered following a tragic fire that killed twenty-five people at a
poultry-processing plant owned by Imperial Food Products. The owner confessed that fierce
competition had forced him to reduce his costs and cut corners. This type of intense
competition is part of which area of the ethical context of management? - correct answer
✔✔Environmental context
John Reed is a plant manager for Dow Chemical. He sets a goal for reducing costs 5% and
increasing output buy 10% for the next year in order to be consistent with organizations long-
term goal of doubling profits in 10 years. This is an example of goal at which level of the
organization? - correct answer ✔✔Middle-Management
Sonja Perakis opened a bakery. She set a goal to delight her customers. This is an example of
SMART goal. - correct answer ✔✔False
Susan Morrow, a mother of four, is founder and president of a regional department store chain.
She likely devotes most of her planning efforts to which type of planning? - correct answer
✔✔Strategic
Tanner Industries Inc. has manufacturing facilities in several countries, buys raw materials on
four continents, finances its operations through lending agencies in the host country, and
markets its products worldwide. using the classification, Tanner would be an international
business. - correct answer ✔✔False
General Mills and Nestle established Cereal Partners Worldwide to compete with Kellogg in
Europe. This is an example of? - correct answer ✔✔A joint venture
Mexico requires that 50 percent of car parts sold in Mexico must be manufactured in Mexico.
This is an example of ? - correct answer ✔✔"buy national" legislation
Many safety violation were discovered following a tragic fire that killed twenty-five people at a
poultry-processing plant owned by Imperial Food Products. The owner confessed that fierce
competition had forced him to reduce his costs and cut corners. This type of intense
competition is part of which area of the ethical context of management? - correct answer
✔✔Environmental context
John Reed is a plant manager for Dow Chemical. He sets a goal for reducing costs 5% and
increasing output buy 10% for the next year in order to be consistent with organizations long-
term goal of doubling profits in 10 years. This is an example of goal at which level of the
organization? - correct answer ✔✔Middle-Management
Sonja Perakis opened a bakery. She set a goal to delight her customers. This is an example of
SMART goal. - correct answer ✔✔False
Susan Morrow, a mother of four, is founder and president of a regional department store chain.
She likely devotes most of her planning efforts to which type of planning? - correct answer
✔✔Strategic
