MGMT 2150 FINAL REVIEW EXAM QUESTIONS WITH
COMPLETE ANSWERS 100% SOLVED
Trade surplus - ANSWER more exports than imports
Trade defecit - ANSWER more imports than exports
Balance of payments - ANSWER Flow of money going in and out of a country
international licence agreement - ANSWER allows foreign companies to sell goods in other
countries in exchange for royalty payments
International franchise agreement - ANSWER Grants a foreign company to use a companies
brand and sell its products
Outsourcing - ANSWER a company doing a portion of its operations on foreign soil
Strategic alliance - ANSWER agreement between 2 companies to pool resources to benefit
both parties
Joint venture - ANSWER agreement where a company funds another company to compete a
portion of its operations
, Foreign direct investment - ANSWER formal establishments like stores on foreign soil
foreign subsidary - ANSWER an independent company owned by a foreign firm parent
Management value chain increasing value - ANSWER recruiting, operations, marketing,
customer service
Management effect - ANSWER Making a group of people more effective and efficent with the
presence of management
efficiency - ANSWER resources, usages, and wastes
effectiveness - ANSWER how fully goal is completed
Functions of management - ANSWER planning, organizing, controling and directing
Strategic plan - ANSWER long term overall course of action
tactical plan - ANSWER short term
COMPLETE ANSWERS 100% SOLVED
Trade surplus - ANSWER more exports than imports
Trade defecit - ANSWER more imports than exports
Balance of payments - ANSWER Flow of money going in and out of a country
international licence agreement - ANSWER allows foreign companies to sell goods in other
countries in exchange for royalty payments
International franchise agreement - ANSWER Grants a foreign company to use a companies
brand and sell its products
Outsourcing - ANSWER a company doing a portion of its operations on foreign soil
Strategic alliance - ANSWER agreement between 2 companies to pool resources to benefit
both parties
Joint venture - ANSWER agreement where a company funds another company to compete a
portion of its operations
, Foreign direct investment - ANSWER formal establishments like stores on foreign soil
foreign subsidary - ANSWER an independent company owned by a foreign firm parent
Management value chain increasing value - ANSWER recruiting, operations, marketing,
customer service
Management effect - ANSWER Making a group of people more effective and efficent with the
presence of management
efficiency - ANSWER resources, usages, and wastes
effectiveness - ANSWER how fully goal is completed
Functions of management - ANSWER planning, organizing, controling and directing
Strategic plan - ANSWER long term overall course of action
tactical plan - ANSWER short term
