MGMT Chapter 3 Review with correct
answers 100% 2026
Define management - Correct AnswerThe attainment of organizational goals in an effective and
efficient manner through planning, organizing, leading, and controlling organizational resources
Business has become a unified, global field as trade barriers fall, communication becomes faster
and cheaper, and consumer tastes converge. - Correct AnswerTrue
When Harbor Trades, a Korean-based company, makes resources including technology,
managerial
skills, and patent and trademark rights available to Nano Technologies, a Russian company,
thereby
allowing Nano to make products similar to Harbor, it is engaging in exporting. - Correct
AnswerFalse
Large international firms typically are called multinational corporations. - Correct AnswerTrue
An example of global outsourcing is seen when Gap, Inc. uses low-cost Caribbean labor to
cheaply
produce its clothing, and then finishes off and sells its clothing in the United States. - Correct
AnswerTrue
The least costly and least risky direct investment is called a greenfield venture. - Correct
AnswerFalse
Licensing means engaging in the international division of labor so that work activities can be
done in countries with the cheapest sources of labor and supplies. - Correct AnswerFalse
, The goal of the European Union is to create a powerful single market system for Europe's
millions of
consumers. - Correct AnswerTrue
The basic management functions of planning, organizing, leading, and controlling are the same
whether
a company operates domestically or internationally. - Correct AnswerTrue
Because of cheap labor, most international business firms are headquartered in the less
developed
countries of Asia and South America. - Correct AnswerFalse
An MNC is managed as an integrated worldwide business system. - Correct AnswerTrue
The primary emphasis of polycentric companies is on their home countries. - Correct
AnswerFalse
A country's physical facilities that support economic activities make up its infrastructure. -
Correct AnswerTrue
The estimated 2010 misery index figures suggest significantly less misery for almost every
country as compared to figures at the beginning of the century. - Correct AnswerFalse
Many U.S. managers fail to realize that the values and behaviors that typically govern how
business is
done in the United States do not translate to the rest of the world. - Correct AnswerTrue
answers 100% 2026
Define management - Correct AnswerThe attainment of organizational goals in an effective and
efficient manner through planning, organizing, leading, and controlling organizational resources
Business has become a unified, global field as trade barriers fall, communication becomes faster
and cheaper, and consumer tastes converge. - Correct AnswerTrue
When Harbor Trades, a Korean-based company, makes resources including technology,
managerial
skills, and patent and trademark rights available to Nano Technologies, a Russian company,
thereby
allowing Nano to make products similar to Harbor, it is engaging in exporting. - Correct
AnswerFalse
Large international firms typically are called multinational corporations. - Correct AnswerTrue
An example of global outsourcing is seen when Gap, Inc. uses low-cost Caribbean labor to
cheaply
produce its clothing, and then finishes off and sells its clothing in the United States. - Correct
AnswerTrue
The least costly and least risky direct investment is called a greenfield venture. - Correct
AnswerFalse
Licensing means engaging in the international division of labor so that work activities can be
done in countries with the cheapest sources of labor and supplies. - Correct AnswerFalse
, The goal of the European Union is to create a powerful single market system for Europe's
millions of
consumers. - Correct AnswerTrue
The basic management functions of planning, organizing, leading, and controlling are the same
whether
a company operates domestically or internationally. - Correct AnswerTrue
Because of cheap labor, most international business firms are headquartered in the less
developed
countries of Asia and South America. - Correct AnswerFalse
An MNC is managed as an integrated worldwide business system. - Correct AnswerTrue
The primary emphasis of polycentric companies is on their home countries. - Correct
AnswerFalse
A country's physical facilities that support economic activities make up its infrastructure. -
Correct AnswerTrue
The estimated 2010 misery index figures suggest significantly less misery for almost every
country as compared to figures at the beginning of the century. - Correct AnswerFalse
Many U.S. managers fail to realize that the values and behaviors that typically govern how
business is
done in the United States do not translate to the rest of the world. - Correct AnswerTrue
