MGT 301 Exam 1 Kirn UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Globalization - CORRECT ANSWER - The trend of the world economy toward becoming
a more interdependent system.
The "global village" - CORRECT ANSWER - The shrinking of time and space as air
travel and the electronic media have made it much easier for the people of the globe to
communicate with one another
E-commerce - CORRECT ANSWER - The buying and selling of products and services
through computer networks
Global economy: positive effects - CORRECT ANSWER - Better connection between the
world, leading to better and more affordable products, and better communication.
Leads to more trade between items
Global economy: negative effects - CORRECT ANSWER - The movement of jobs
overseas due to cheaper labor costs (manufacturing)
Multinational corporation - CORRECT ANSWER - Business firm with operations in
several countries
Multinational organization - CORRECT ANSWER - Non-profit organization with
operations in several countries
Developing a global mindset - CORRECT ANSWER - be patient, be quite, listen, dont use
slang, dont talk about wealth
, developing a global mindset - CORRECT ANSWER - be global in your focus, but study
up on local customs
developing a global mindset - CORRECT ANSWER - learn what is appropriate behavior
(gestures, eye contact)
developing a global mindset - CORRECT ANSWER - learn rituals of respect (shaking
hands, dressing appropriately)
developing a global mindset - CORRECT ANSWER - become at least minimally skilled
in the language
Ethnocentric managers - CORRECT ANSWER - believe that their native country, culture,
language, and behavior are superior to all others
Parochialism - CORRECT ANSWER - a narrow view in which people see things solely
through their own perspective
polycentric managers - CORRECT ANSWER - take the view that native managers in the
foreign offices best understand native personnel and practices, and so the home office should
leave them along.
Geocentric managers - CORRECT ANSWER - accept that there are differences and
similarities between home and foreign personnel and practices and that they should use whatever
techniques are most effective
Why companies expand internationally - CORRECT ANSWER - 1. Availability of
supplies
2. New markets
3. Lower labor costs (maquiladoras in Mexico)
ACTUAL Exam Questions and CORRECT
Answers
Globalization - CORRECT ANSWER - The trend of the world economy toward becoming
a more interdependent system.
The "global village" - CORRECT ANSWER - The shrinking of time and space as air
travel and the electronic media have made it much easier for the people of the globe to
communicate with one another
E-commerce - CORRECT ANSWER - The buying and selling of products and services
through computer networks
Global economy: positive effects - CORRECT ANSWER - Better connection between the
world, leading to better and more affordable products, and better communication.
Leads to more trade between items
Global economy: negative effects - CORRECT ANSWER - The movement of jobs
overseas due to cheaper labor costs (manufacturing)
Multinational corporation - CORRECT ANSWER - Business firm with operations in
several countries
Multinational organization - CORRECT ANSWER - Non-profit organization with
operations in several countries
Developing a global mindset - CORRECT ANSWER - be patient, be quite, listen, dont use
slang, dont talk about wealth
, developing a global mindset - CORRECT ANSWER - be global in your focus, but study
up on local customs
developing a global mindset - CORRECT ANSWER - learn what is appropriate behavior
(gestures, eye contact)
developing a global mindset - CORRECT ANSWER - learn rituals of respect (shaking
hands, dressing appropriately)
developing a global mindset - CORRECT ANSWER - become at least minimally skilled
in the language
Ethnocentric managers - CORRECT ANSWER - believe that their native country, culture,
language, and behavior are superior to all others
Parochialism - CORRECT ANSWER - a narrow view in which people see things solely
through their own perspective
polycentric managers - CORRECT ANSWER - take the view that native managers in the
foreign offices best understand native personnel and practices, and so the home office should
leave them along.
Geocentric managers - CORRECT ANSWER - accept that there are differences and
similarities between home and foreign personnel and practices and that they should use whatever
techniques are most effective
Why companies expand internationally - CORRECT ANSWER - 1. Availability of
supplies
2. New markets
3. Lower labor costs (maquiladoras in Mexico)
