BUS-D312 Exam 1 with verified detailed !| !| !| !| !| !|
solutions
globalization - Correct answer ✔describes the growing interdependence of
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the world's economies, cultures and populations, brought about by cross
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border trade in goods and services, technology and flows of investment,
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people and information !| !| !|
a process whereby worldwide interconnections in virtually every sphere of
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activity are growing !| !|
culture - Correct answer ✔set of knowledge structures consisting of systems
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of values, norms, attitudes, beliefs and behavioral meanings that are shared
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by members of a social group and embedded in situations and learned from
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previous generations !|
effects of technology result from two connected activities: - Correct answer
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✔- advances in information technology reduce the cost of communication
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- as organizations try to keep up with the changes, this globalization of trade
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increases competition and contributes to the global spread and
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development of technology !| !|
,tariffs - Correct answer ✔taxes used to restrict imports by increasing the
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price of goods and services purchased from another country, making them
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less attractive to domestic consumers
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protectionist - Correct answer ✔protecting local industries against
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international competition; the theory or practice of shielding a country's
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domestic industries from foreign competition by taxing imports
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outsourcing - Correct answer ✔the practice of hiring outside the
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organization to produce goods or perform services that were traditionally
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provided by the company's own employees
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-undertaken to reduce costs !| !| !|
offshoring - Correct answer ✔relocating a business function to a distant
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country
nearshoring - Correct answer ✔transferring a business process to a nearby
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country
benefits of outsourcing: - Correct answer ✔- larger workforces
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- access to industry experts
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- increased flexibility
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disadvantages of outsourcing: - Correct answer ✔- geographical distance !| !| !| !| !| !| !| !|
- absence of day to day supervision by the client company
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, - different ethical standards
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- leads to inefficiency and threatens security
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- running costs of BPO are underestimated or may increase unexpectedly
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- cross cultural problems
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downsizing - Correct answer ✔making an organization smaller by
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eliminating staff positions !| !|
mergers and acquisitions - Correct answer ✔more occur when organizations
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seek to remain competitive in a more difficult international context; causes
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reductions in the workforce !| !| !|
privatization - Correct answer ✔a change of ownership in which public
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control over services is handed over or sold to private enterprise
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organizations; done because it's believed that a private organization will be
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more efficient than a a government department
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- enables formerly government-controlled enterprises to be available for
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purchase by foreign firms !| !| !| !|
- has a dramatic effect on work life and management in these firms
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disadvantages:
- can lead to natural monopolies
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solutions
globalization - Correct answer ✔describes the growing interdependence of
!| !| !| !| !| !| !| !| !|
the world's economies, cultures and populations, brought about by cross
!| !| !| !| !| !| !| !| !| !|
border trade in goods and services, technology and flows of investment,
!| !| !| !| !| !| !| !| !| !| !|
people and information !| !| !|
a process whereby worldwide interconnections in virtually every sphere of
!| !| !| !| !| !| !| !| !| !|
activity are growing !| !|
culture - Correct answer ✔set of knowledge structures consisting of systems
!| !| !| !| !| !| !| !| !| !|
of values, norms, attitudes, beliefs and behavioral meanings that are shared
!| !| !| !| !| !| !| !| !| !| !| !|
by members of a social group and embedded in situations and learned from
!| !| !| !| !| !| !| !| !| !| !| !| !|
previous generations !|
effects of technology result from two connected activities: - Correct answer
!| !| !| !| !| !| !| !| !| !| !|
✔- advances in information technology reduce the cost of communication
!| !| !| !| !| !| !| !| !| !|
- as organizations try to keep up with the changes, this globalization of trade
!| !| !| !| !| !| !| !| !| !| !| !| !|
increases competition and contributes to the global spread and
!| !| !| !| !| !| !| !| !| !|
development of technology !| !|
,tariffs - Correct answer ✔taxes used to restrict imports by increasing the
!| !| !| !| !| !| !| !| !| !| !| !|
price of goods and services purchased from another country, making them
!| !| !| !| !| !| !| !| !| !| !|
less attractive to domestic consumers
!| !| !| !|
protectionist - Correct answer ✔protecting local industries against
!| !| !| !| !| !| !| !|
international competition; the theory or practice of shielding a country's
!| !| !| !| !| !| !| !| !| !|
domestic industries from foreign competition by taxing imports
!| !| !| !| !| !| !|
outsourcing - Correct answer ✔the practice of hiring outside the
!| !| !| !| !| !| !| !| !| !|
organization to produce goods or perform services that were traditionally
!| !| !| !| !| !| !| !| !| !|
provided by the company's own employees
!| !| !| !| !|
-undertaken to reduce costs !| !| !|
offshoring - Correct answer ✔relocating a business function to a distant
!| !| !| !| !| !| !| !| !| !| !|
country
nearshoring - Correct answer ✔transferring a business process to a nearby
!| !| !| !| !| !| !| !| !| !| !|
country
benefits of outsourcing: - Correct answer ✔- larger workforces
!| !| !| !| !| !| !| !|
- access to industry experts
!| !| !| !|
- increased flexibility
!| !|
disadvantages of outsourcing: - Correct answer ✔- geographical distance !| !| !| !| !| !| !| !|
- absence of day to day supervision by the client company
!| !| !| !| !| !| !| !| !| !|
, - different ethical standards
!| !| !|
- leads to inefficiency and threatens security
!| !| !| !| !| !|
- running costs of BPO are underestimated or may increase unexpectedly
!| !| !| !| !| !| !| !| !| !| !|
- cross cultural problems
!| !| !|
downsizing - Correct answer ✔making an organization smaller by
!| !| !| !| !| !| !| !| !|
eliminating staff positions !| !|
mergers and acquisitions - Correct answer ✔more occur when organizations
!| !| !| !| !| !| !| !| !|
seek to remain competitive in a more difficult international context; causes
!| !| !| !| !| !| !| !| !| !| !| !|
reductions in the workforce !| !| !|
privatization - Correct answer ✔a change of ownership in which public
!| !| !| !| !| !| !| !| !| !| !|
control over services is handed over or sold to private enterprise
!| !| !| !| !| !| !| !| !| !| !|
organizations; done because it's believed that a private organization will be
!| !| !| !| !| !| !| !| !| !| !|
more efficient than a a government department
!| !| !| !| !| !| !|
- enables formerly government-controlled enterprises to be available for
!| !| !| !| !| !| !| !| !|
purchase by foreign firms !| !| !| !|
- has a dramatic effect on work life and management in these firms
!| !| !| !| !| !| !| !| !| !| !| !| !|
disadvantages:
- can lead to natural monopolies
!| !| !| !| !|
