1|Page
MGMT:2100, Iowa: MIDTERM II Questions with 100% Verified
Answers UPDATED!!!
____________ approach to innovation: Making a new product
or service that did not exist before. - ANSWER Experiential
____________ approach to innovation: Making an existing
product better. - ANSWER Compression
5 dimensions of quality in service provision (RATER) - ANSWER
Reliability, Assurance, Tangibles, Empathy, Responsiveness
a direct tax on imported goods. (trade barriers) - ANSWER tariff
nontax methods of increasing the cost or reducing the volume
of imported goods. (trade barriers) - ANSWER non-tariff
Getting work done through others...concerned with efficiency
and effectiveness in the work process. - ANSWER Definition of
management
,2|Page
Types of managers - ANSWER top managers, middle managers,
first-line managers, team leaders
Forces for internationalization (4) - ANSWER modern
communication technology, air travel, corporate globalism,
shipping container
Stage 1 of the Internationalization process:
EX: Selling products in a country you didn't make them in -
ANSWER Exporting
Stage 2 of the Internationalization process:
1) licensing - selling how they make their product
2) franchising - letting a country adopt your company
EX: McDonalds - ANSWER Cooperative Contracts
Stage 3 of the Internationalization process:
EX: when two companies decide to share their ideas together
across seas, and they share the the money they get - ANSWER
Strategic Alliances
Stage 4 of the Internationalization process:
,3|Page
EX: A company in a home country who buys a company in
another company - ANSWER Wholly owned affiliates
One big option of the Internationalization process (Not a stage):
EX: global shipping company - ANSWER global venture
Two different types of cooperative contracts - ANSWER licensing
and franchising
VIDEO Example
-the communication was poor between the two men.
-the American was very direct and wanted to get the Chinese
man to sign the contract while the Chinese man wanted to get
to know the American before signing it.
-They were on very different pages when it came to signing the
contract and no deal was made - ANSWER Problem at Mustang
Jeans
Cultures in which nonverbal and situational messages convey
meaning
**Relationship more important than terms - ANSWER High
context cultures
, 4|Page
Cultures in which words convey primary meaning
-Nonverbal messages are secondary
***The terms of the deal are more important than building a
business relationship - ANSWER Low context cultures
-Long-term vs. Short-term orientation
-Uncertainty avoidance
-Masculinity (assertiveness) vs. Femininity (focuses on
relationship building)
-Individualism (self-efficient) vs. Collectivism (group)
-Power distance (LOW = don't like to be told what to do) (HIGH
= understand authority) - ANSWER Hofstede's Dimensions
Because while free-trade agreements create new business
opportunities, they also intensify competition and addressing
that competition is a manager's job. - ANSWER Why managers
need to know about tariffs and trade
Characteristics of an attractive foreign business climate (3) -
ANSWER positions the company for easy access to growing
markets, is an effective but cost-efficient place to build an office
MGMT:2100, Iowa: MIDTERM II Questions with 100% Verified
Answers UPDATED!!!
____________ approach to innovation: Making a new product
or service that did not exist before. - ANSWER Experiential
____________ approach to innovation: Making an existing
product better. - ANSWER Compression
5 dimensions of quality in service provision (RATER) - ANSWER
Reliability, Assurance, Tangibles, Empathy, Responsiveness
a direct tax on imported goods. (trade barriers) - ANSWER tariff
nontax methods of increasing the cost or reducing the volume
of imported goods. (trade barriers) - ANSWER non-tariff
Getting work done through others...concerned with efficiency
and effectiveness in the work process. - ANSWER Definition of
management
,2|Page
Types of managers - ANSWER top managers, middle managers,
first-line managers, team leaders
Forces for internationalization (4) - ANSWER modern
communication technology, air travel, corporate globalism,
shipping container
Stage 1 of the Internationalization process:
EX: Selling products in a country you didn't make them in -
ANSWER Exporting
Stage 2 of the Internationalization process:
1) licensing - selling how they make their product
2) franchising - letting a country adopt your company
EX: McDonalds - ANSWER Cooperative Contracts
Stage 3 of the Internationalization process:
EX: when two companies decide to share their ideas together
across seas, and they share the the money they get - ANSWER
Strategic Alliances
Stage 4 of the Internationalization process:
,3|Page
EX: A company in a home country who buys a company in
another company - ANSWER Wholly owned affiliates
One big option of the Internationalization process (Not a stage):
EX: global shipping company - ANSWER global venture
Two different types of cooperative contracts - ANSWER licensing
and franchising
VIDEO Example
-the communication was poor between the two men.
-the American was very direct and wanted to get the Chinese
man to sign the contract while the Chinese man wanted to get
to know the American before signing it.
-They were on very different pages when it came to signing the
contract and no deal was made - ANSWER Problem at Mustang
Jeans
Cultures in which nonverbal and situational messages convey
meaning
**Relationship more important than terms - ANSWER High
context cultures
, 4|Page
Cultures in which words convey primary meaning
-Nonverbal messages are secondary
***The terms of the deal are more important than building a
business relationship - ANSWER Low context cultures
-Long-term vs. Short-term orientation
-Uncertainty avoidance
-Masculinity (assertiveness) vs. Femininity (focuses on
relationship building)
-Individualism (self-efficient) vs. Collectivism (group)
-Power distance (LOW = don't like to be told what to do) (HIGH
= understand authority) - ANSWER Hofstede's Dimensions
Because while free-trade agreements create new business
opportunities, they also intensify competition and addressing
that competition is a manager's job. - ANSWER Why managers
need to know about tariffs and trade
Characteristics of an attractive foreign business climate (3) -
ANSWER positions the company for easy access to growing
markets, is an effective but cost-efficient place to build an office
