BUS-D312 Exam 1 ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
globalization describes the growing interdependence of the world's economies, cultures and
populations, brought about by cross border trade in goods and services,
technology and flows of investment, people and information
a process whereby worldwide interconnections in virtually every sphere of
activity are growing
culture set of knowledge structures consisting of systems of values, norms, attitudes,
beliefs and behavioral meanings that are shared by members of a social group
and embedded in situations and learned from previous generations
effects of technology result from two connected - advances in information technology reduce the cost of communication
activities: - as organizations try to keep up with the changes, this globalization of trade
increases competition and contributes to the global spread and development of
technology
tariffs taxes used to restrict imports by increasing the price of goods and services
purchased from another country, making them less attractive to domestic
consumers
, protectionist protecting local industries against international competition; the theory or
practice of shielding a country's domestic industries from foreign competition by
taxing imports
outsourcing the practice of hiring outside the organization to produce goods or perform
services that were traditionally provided by the company's own employees
-undertaken to reduce costs
offshoring relocating a business function to a distant country
nearshoring transferring a business process to a nearby country
benefits of outsourcing: - larger workforces
- access to industry experts
- increased flexibility
disadvantages of outsourcing: - geographical distance
- absence of day to day supervision by the client company
- different ethical standards
- leads to inefficiency and threatens security
- running costs of BPO are underestimated or may increase unexpectedly
- cross cultural problems
downsizing making an organization smaller by eliminating staff positions
mergers and acquisitions more occur when organizations seek to remain competitive in a more difficult
international context; causes reductions in the workforce
privatization a change of ownership in which public control over services is handed over or
sold to private enterprise organizations; done because it's believed that a private
organization will be more efficient than a a government department
- enables formerly government-controlled enterprises to be available for
purchase by foreign firms
- has a dramatic effect on work life and management in these firms
disadvantages:
- can lead to natural monopolies
migration the movement of people from one place to another with the intention of settling,
permanently or temporarily, in a new location
globalization describes the growing interdependence of the world's economies, cultures and
populations, brought about by cross border trade in goods and services,
technology and flows of investment, people and information
a process whereby worldwide interconnections in virtually every sphere of
activity are growing
culture set of knowledge structures consisting of systems of values, norms, attitudes,
beliefs and behavioral meanings that are shared by members of a social group
and embedded in situations and learned from previous generations
effects of technology result from two connected - advances in information technology reduce the cost of communication
activities: - as organizations try to keep up with the changes, this globalization of trade
increases competition and contributes to the global spread and development of
technology
tariffs taxes used to restrict imports by increasing the price of goods and services
purchased from another country, making them less attractive to domestic
consumers
, protectionist protecting local industries against international competition; the theory or
practice of shielding a country's domestic industries from foreign competition by
taxing imports
outsourcing the practice of hiring outside the organization to produce goods or perform
services that were traditionally provided by the company's own employees
-undertaken to reduce costs
offshoring relocating a business function to a distant country
nearshoring transferring a business process to a nearby country
benefits of outsourcing: - larger workforces
- access to industry experts
- increased flexibility
disadvantages of outsourcing: - geographical distance
- absence of day to day supervision by the client company
- different ethical standards
- leads to inefficiency and threatens security
- running costs of BPO are underestimated or may increase unexpectedly
- cross cultural problems
downsizing making an organization smaller by eliminating staff positions
mergers and acquisitions more occur when organizations seek to remain competitive in a more difficult
international context; causes reductions in the workforce
privatization a change of ownership in which public control over services is handed over or
sold to private enterprise organizations; done because it's believed that a private
organization will be more efficient than a a government department
- enables formerly government-controlled enterprises to be available for
purchase by foreign firms
- has a dramatic effect on work life and management in these firms
disadvantages:
- can lead to natural monopolies
migration the movement of people from one place to another with the intention of settling,
permanently or temporarily, in a new location
