lobal HRM Exam 1 Questions and Answers Already Passed
International Human Resource Management - Answers The study and application of all human
resource management activities as they impact the process of management human resources
in enterprises in the global environment.
Trade Agreements - Answers Decreased barriers and open markets have resulted in fast
growing economies through out the world. Local and national governments support and
encourage growing cross-border and foreign investment.
E Commerce - Answers The World Wide Web gives the ability to conduct business virtually.
Business that have a website that can be reached to anyone anywhere is considered global.
Homogenization of Culture and Consumer Demands - Answers Integration of cultures and
values have led to consumer demands for some types of products and services. Firms
operating internationally need to be sensitive to these local differences.
Internationalization - Answers The process of planning and implementing products and services
so that they can be easily adapted to specific local languages and cultures, a process called
localization.
Globalization - Answers A process of interaction and integration among the people, companies,
and governments of different nation, a process driven by international trade and investment
aided by information technology.
Headquarters of Multinationals - Answers HRM professionals work in central or regional
headquarters of traditional headquarters of the traditional multinational enterprises. (most
common for HR managers) They use parent company policies and practices.
Subsidiaries - Answers A company owned by a holding company.
Foreign Owned Firms - Answers The complete or majority ownership/control of a business or
resource in a country by individuals that are not citizens of that country, or by companies whose
headquarters.
Domestic Firms - Answers Hiring or recruiting of immigrants or establishing small offices in
other countries or recruit talent "overseas" in order to meet needs for specialized skills.
Non Governmental Organization (NGOs) - Answers An organization that is neither a part of a
government nor a conventional for-profit business. Usually set up by ordinary citizens, NGOs
may be funded by governments, foundations, businesses, or private persons.
Strategic International HRM (SIHRM) - Answers Creating and implementing IHRM policies and
practices that help achieve an MNE's international strategy. (Used in ideal situations)
Internalization Process and Methods for Market Entry within the Five Stages. Stage 1: - Answers
, Exporting and Portfolio Investment. Firms may decide to make finical investments in foreign
firms. And may begin to export products or services to foreign markets through direct sales or
foreign distributors.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 2: - Answers
Sales subsidiary/Local Sales Office. Assign responsibility for international sales to a sales
managers or and purchasing agent.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 3: - Answers
Licensing, Franchising, Contracting/Sub-contracting.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 4: - Answers
Wholly owned subsidiaries (Greenfield-build subsidiaries from scratch or Brownfield-buying
existing facilities) Maquiladora (twin plants (one in Mexico one in U.S)).
Internalization Process and Methods for Market Entry within the Five Stages. Stage 5: - Answers
International Joint Ventures, International Mergers & Acquisitions, and International Alliances,
Partnerships, & Consortia.
International Joint Ventures - Answers Two or more firms create a new business entity.
International Mergers & Acquisitions - Answers One of the preferred market entry methods in
both developed and emerging markets.
International Alliances, Partnerships, & Consortia - Answers Informal or formal partnerships or
agreements that do not result in an independent legal entity.
Outsourcing - Answers (A form of subcontracting) Firms contract out business processes to
other firms in their home country and in other countries.
The Born-Global Firm - Answers Frequently IT based, it almost immediately operates in key
global markets due to the nature of its products, global networking, and possible partnering on
projects.
Multinational Business Strategy - Answers Provides a direction for managing various
subsidiaries, integration (unification), and local responsiveness.
Ethnocentrism - Answers Managers use a home-country standard as a reference in managing
international activities.
Polycentrism or Regiocentrism - Answers Host-country cultures and practices assume
increased salience for managers
Geocentrism - Answers Managers' outlook is one of creating a global network among various
elements of the global organization.
Convergence - Answers Adoption of similar "best practices". (Use of parent-company policies
International Human Resource Management - Answers The study and application of all human
resource management activities as they impact the process of management human resources
in enterprises in the global environment.
Trade Agreements - Answers Decreased barriers and open markets have resulted in fast
growing economies through out the world. Local and national governments support and
encourage growing cross-border and foreign investment.
E Commerce - Answers The World Wide Web gives the ability to conduct business virtually.
Business that have a website that can be reached to anyone anywhere is considered global.
Homogenization of Culture and Consumer Demands - Answers Integration of cultures and
values have led to consumer demands for some types of products and services. Firms
operating internationally need to be sensitive to these local differences.
Internationalization - Answers The process of planning and implementing products and services
so that they can be easily adapted to specific local languages and cultures, a process called
localization.
Globalization - Answers A process of interaction and integration among the people, companies,
and governments of different nation, a process driven by international trade and investment
aided by information technology.
Headquarters of Multinationals - Answers HRM professionals work in central or regional
headquarters of traditional headquarters of the traditional multinational enterprises. (most
common for HR managers) They use parent company policies and practices.
Subsidiaries - Answers A company owned by a holding company.
Foreign Owned Firms - Answers The complete or majority ownership/control of a business or
resource in a country by individuals that are not citizens of that country, or by companies whose
headquarters.
Domestic Firms - Answers Hiring or recruiting of immigrants or establishing small offices in
other countries or recruit talent "overseas" in order to meet needs for specialized skills.
Non Governmental Organization (NGOs) - Answers An organization that is neither a part of a
government nor a conventional for-profit business. Usually set up by ordinary citizens, NGOs
may be funded by governments, foundations, businesses, or private persons.
Strategic International HRM (SIHRM) - Answers Creating and implementing IHRM policies and
practices that help achieve an MNE's international strategy. (Used in ideal situations)
Internalization Process and Methods for Market Entry within the Five Stages. Stage 1: - Answers
, Exporting and Portfolio Investment. Firms may decide to make finical investments in foreign
firms. And may begin to export products or services to foreign markets through direct sales or
foreign distributors.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 2: - Answers
Sales subsidiary/Local Sales Office. Assign responsibility for international sales to a sales
managers or and purchasing agent.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 3: - Answers
Licensing, Franchising, Contracting/Sub-contracting.
Internalization Process and Methods for Market Entry within the Five Stages. Stage 4: - Answers
Wholly owned subsidiaries (Greenfield-build subsidiaries from scratch or Brownfield-buying
existing facilities) Maquiladora (twin plants (one in Mexico one in U.S)).
Internalization Process and Methods for Market Entry within the Five Stages. Stage 5: - Answers
International Joint Ventures, International Mergers & Acquisitions, and International Alliances,
Partnerships, & Consortia.
International Joint Ventures - Answers Two or more firms create a new business entity.
International Mergers & Acquisitions - Answers One of the preferred market entry methods in
both developed and emerging markets.
International Alliances, Partnerships, & Consortia - Answers Informal or formal partnerships or
agreements that do not result in an independent legal entity.
Outsourcing - Answers (A form of subcontracting) Firms contract out business processes to
other firms in their home country and in other countries.
The Born-Global Firm - Answers Frequently IT based, it almost immediately operates in key
global markets due to the nature of its products, global networking, and possible partnering on
projects.
Multinational Business Strategy - Answers Provides a direction for managing various
subsidiaries, integration (unification), and local responsiveness.
Ethnocentrism - Answers Managers use a home-country standard as a reference in managing
international activities.
Polycentrism or Regiocentrism - Answers Host-country cultures and practices assume
increased salience for managers
Geocentrism - Answers Managers' outlook is one of creating a global network among various
elements of the global organization.
Convergence - Answers Adoption of similar "best practices". (Use of parent-company policies
