COB 300 MANAGEMENT FINAL EXAM
STUDY GUIDE QUESTIONS AND
ANSWERS
Example of Petty Corruption - Answer-In Mexico people would give police officers their
license and cash to avoid a ticket after being pulled over
Political Corruption - Answer-is a manipulation of policies, institutions, and rules of
procedure in the allocation of resources and financing by political decision makers, who
abuse their power to sustain their power, status, and wealth
Grand Corruption - Answer-when political corruption takes place at the higher/highest
level of government
How do you increase productivity? - Answer-by specialization
- honing your skills in the area that you do best; then you trade with other people who
do other stuff well
How does wealth arise? - Answer-through increasing productivity
- figure out how to make stuff more efficient which permanently increases living
standards
Trade is - Answer-positive-sum, NOT zero-sum
What percent of industries operate globally? - Answer-2/3
Outside of the US Statistics - Answer-- 95% of people live outside the US
- 80% of the world's economy is outside the US
What helped the Americas get out of the Great Recession? - Answer-exports
Who took US place when we dropped out of the Trans-Pacific Partnership? - Answer-
Australia
What does experience in foreign work show employers? - Answer-- independence
- resourcefulness
- enterepreneurship
What is Different for Foreign v. Domestic Management - Answer-- currencies
- local taste/preferences
- channel of distribution
- political risk (or stability)
- 24/7 management (time differences)
STUDY GUIDE QUESTIONS AND
ANSWERS
Example of Petty Corruption - Answer-In Mexico people would give police officers their
license and cash to avoid a ticket after being pulled over
Political Corruption - Answer-is a manipulation of policies, institutions, and rules of
procedure in the allocation of resources and financing by political decision makers, who
abuse their power to sustain their power, status, and wealth
Grand Corruption - Answer-when political corruption takes place at the higher/highest
level of government
How do you increase productivity? - Answer-by specialization
- honing your skills in the area that you do best; then you trade with other people who
do other stuff well
How does wealth arise? - Answer-through increasing productivity
- figure out how to make stuff more efficient which permanently increases living
standards
Trade is - Answer-positive-sum, NOT zero-sum
What percent of industries operate globally? - Answer-2/3
Outside of the US Statistics - Answer-- 95% of people live outside the US
- 80% of the world's economy is outside the US
What helped the Americas get out of the Great Recession? - Answer-exports
Who took US place when we dropped out of the Trans-Pacific Partnership? - Answer-
Australia
What does experience in foreign work show employers? - Answer-- independence
- resourcefulness
- enterepreneurship
What is Different for Foreign v. Domestic Management - Answer-- currencies
- local taste/preferences
- channel of distribution
- political risk (or stability)
- 24/7 management (time differences)
