MAN3025 STUDYCUBE UCF EXAM
QUESTIONS WITH CORRECT ANSWERS
Task environment - Answer-Set of forces that affect the organizations’ ability to acquire
inputs and sell outputs.
Forces that are dealt with daily, immediately and directly
i.e. forces regarding suppliers, distributors, customers, and competitors
General environment - Answer-forces resulting from global, economic, technological,
sociocultural, demographic, political, and legal areas that affect the business
difficult to identify the threats and opportunities
4 major forces in an organizations task environment - Answer-suppliers
distributors
customers
competitors
The main sources of barriers to entry - Answer--Economies of scale
-Gov't regulation
-Brand loyalty
-High capital requirements
-Access to distribution channels
-Differentiation
economies of scale - Answer-barrier to entry
"cost of advantage" a business has when they have so much volume to the point where
the fixed cost per unit is highly minimized
differentiation - Answer-a barrier to entry
when existing firms have patent protection/unique products and services
5 Forces of the General Environment - Answer--Economic forces
-Technological forces
-Sociocultural forces
-Demographic forces
-Political/Legal forces
2 Aspects of sociocultural forces in the general environment - Answer-National culture:
i.e. collectivism vs individualism
, Social culture: i.e. how stratified the distinction between the classes are
Globalization def. - Answer-the process by which nations are becoming increasingly
similar due to the integration of economic, political, and social systems
4 types of capital flows in globalization - Answer--Human capital
-Financial capital
-Resource capital
-Political capital (power & influence)
General Agreement of Tariffs and Trade (GATT) - Answer-international treaty that
dramatically reduced tariffs among many of the worlds largest countries after WW2
replaced by WTO world trade organization
When was NAFTA enacted and who does it involve - Answer-1994
u.s. canada mexico
Two basic building blocks of National culture - Answer-values
norms
Values - Answer-ideas about what is right, desirable, or beautiful
2 types of norms - Answer-norms are informal codes of conduct on how to act
Mores - norms central to a functioning society (i.e. prohibition of murder/theft)
Folkways - everyday social conventions. i.e. using correct utensils, manners
Hofstedes 5 Dimensions of national culture - Answer--individualism vs. collectivism
-power distance
-achievement vs. nurturing orientation
-uncertainty avoidance
-long term v. short term orientation
Power distance - Answer-one of the five Hostede national culture dimensions
High power distance = poor/uneducated can't speak to the rich/educated
link between power distance and individualism - Answer-high power distance>>>low
individualism
low power distance>>>high individualism
Uncertainty avoidance - Answer-one of hostedes 5 national culture dimensions
QUESTIONS WITH CORRECT ANSWERS
Task environment - Answer-Set of forces that affect the organizations’ ability to acquire
inputs and sell outputs.
Forces that are dealt with daily, immediately and directly
i.e. forces regarding suppliers, distributors, customers, and competitors
General environment - Answer-forces resulting from global, economic, technological,
sociocultural, demographic, political, and legal areas that affect the business
difficult to identify the threats and opportunities
4 major forces in an organizations task environment - Answer-suppliers
distributors
customers
competitors
The main sources of barriers to entry - Answer--Economies of scale
-Gov't regulation
-Brand loyalty
-High capital requirements
-Access to distribution channels
-Differentiation
economies of scale - Answer-barrier to entry
"cost of advantage" a business has when they have so much volume to the point where
the fixed cost per unit is highly minimized
differentiation - Answer-a barrier to entry
when existing firms have patent protection/unique products and services
5 Forces of the General Environment - Answer--Economic forces
-Technological forces
-Sociocultural forces
-Demographic forces
-Political/Legal forces
2 Aspects of sociocultural forces in the general environment - Answer-National culture:
i.e. collectivism vs individualism
, Social culture: i.e. how stratified the distinction between the classes are
Globalization def. - Answer-the process by which nations are becoming increasingly
similar due to the integration of economic, political, and social systems
4 types of capital flows in globalization - Answer--Human capital
-Financial capital
-Resource capital
-Political capital (power & influence)
General Agreement of Tariffs and Trade (GATT) - Answer-international treaty that
dramatically reduced tariffs among many of the worlds largest countries after WW2
replaced by WTO world trade organization
When was NAFTA enacted and who does it involve - Answer-1994
u.s. canada mexico
Two basic building blocks of National culture - Answer-values
norms
Values - Answer-ideas about what is right, desirable, or beautiful
2 types of norms - Answer-norms are informal codes of conduct on how to act
Mores - norms central to a functioning society (i.e. prohibition of murder/theft)
Folkways - everyday social conventions. i.e. using correct utensils, manners
Hofstedes 5 Dimensions of national culture - Answer--individualism vs. collectivism
-power distance
-achievement vs. nurturing orientation
-uncertainty avoidance
-long term v. short term orientation
Power distance - Answer-one of the five Hostede national culture dimensions
High power distance = poor/uneducated can't speak to the rich/educated
link between power distance and individualism - Answer-high power distance>>>low
individualism
low power distance>>>high individualism
Uncertainty avoidance - Answer-one of hostedes 5 national culture dimensions
