MGT 2010- exam 1

The introduction of tablet computers

general environment

GATT (General Agreement on Tariffs and Trade)

international agreement first signed in 1948 aimed at lowering trade barriers, prevent trade wars

multinational business

utilizes marketplace in a worldwide setting. They might borrow things from China to be made in the USA and then sold internationally.

The Middle East defies classification due to

varied with so many issues, developing economy, political/ethical violence

In a disagreement about what is right and what is wrong, if your greatest concern is Utility, you want to know,

"Does it optimize the best for all?"

In a disagreement about what is right and what is wrong, if your greatest concern is Rights, you want to know,

"Does it respect the rights of those involved?"

In a disagreement about what is right and what is wrong, if your greatest concern is Caring, you want to know

"Is it consistent with responsibility to care?"

In a disagreement about what is right and what is wrong, if your greatest concern is Justice, you want to know,

"Is it consistent with what is fair?"

WTO (World Trade Organization)

164 nations/ 23 countries, promotes trades which encourages other countries to adopt free trade organizations, reduces trade barriers (unilateral)

Because Monsanto's board members have worked for the EPA, advised the U.S. Department of Agriculture (USDA), and served on the president's Advisory Committee for Trade Policy and Negotiations, it is well positioned to use _________ _________ as a source of influence.

personal contacts

The degree to which a government regulates business relates to the ______________.

political-legal dimension

An established process for determining whether oil companies are responsible for oil spills and a requirement that guilty companies pay large fines

political/legal

Economic environment

private/public ownership, natural resources, infrastructure

A requirement by U.S. Occupational Safety and Health Administration (OSHA) that workers engaged in environmental cleanup be protected from heat, fatigue, and other hazards

regulators

Medium-size organizations

remain primarily domestic but may buy/sell products made abroad and may face foreign competition in their own domestic market

Women account for almost 28% of Walmart's corporate officers, about double the average for Fortune 500 companies.

social welfare

infrastructure

the basic framework of a building or a system

global business

the buying and selling of goods and services by people from different countries

owners

the people or institutions that maintain legal control of an organization

European Union EU

a free trade zone encompassing 27 European countries

board of directors

A group of people elected by the stockholders of a corporation to set the policies for the corporation.

Pacific Asia

A market system located in Southeast Asia

There are thousands of brands of craft beer.

competitors

Domestic Business

A business that sells its products only in its own country.

culture

Beliefs, customs, and traditions of a specific group of people.

Which entity relies upon political action committees as a tool of influence?

Business

Corporate leaders may face a variety of ethical dilemmas. Which ethical concern is addressed by the Sarbanes-Oxley Act? A. The reporting of dividends paid to investors B. The price-fixing of products C. The accuracy of corporate financial disclosures D. The compliance of a corporation with environmental standards

C

In your role as manager of the quality assurance program, you observe that one of the products manufactured by your company has a safety feature with a high rate of malfunction. What should your first step be? A. Report the issue to the local news anchor. B. Report the issue to the ethics committee. C. Report the issue to your supervisor. D. Report the issue to the regulatory agency that sets safety requirements for the industry.

C

What factors have increased the diversity in organizations? A. Gender bias B. Race discrimination C. Desire to increase workforce quality

C

High-Potenial/High-Growth Economies

China, India, Brazil, Russia, Vietnam, South Africa

Which approach to social responsibility is best explained by the statement, Meet legal and ethical obligations and do more on a case by case basis.? A. Defensive B. Proactive C. Obstructionist D. Accommodative

D

Renewable energy sources account for 21% of Walmart's electricity worldwide

Environment

United States-Mexico-Canada Agreement (USMCA)

Free-trade agreement among the United States, Mexico, and Canada that replaced NAFTA in an effort to create more balanced and reciprocal trade.

The increasing number of elderly people in the United States, Japan, Italy, and Germany

General Environment

Which entity relies upon consumer protection legislation as a tool of influence?

Government

One employee telling another, "It's just the way we do things around here—it's our organizational culture."

Internal Environment

A manager's policy of letting employees have Friday afternoons off during the summer

Internal environment

Planning and Decision Making

Setting the organization's goals and deciding how best to achieve them

For a public university, the pool of new PhD graduates seeking jobs as professors

Task environment

International Business

all business activities that involve exchanges across national boundaries

Walmart makes large purchases from suppliers to stock inventory for its customers.

buyers

All organizations operate within an environmental context. Which dimensions are associated with the general environment?

buyers, technological, economic

Choosing a new CEO from outside the firm tends to signal ___________ culture.

change

An organization's _________ can be shaped by symbols, stories, slogans, and more.

culture

Organizing

deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom, ex: human resource field

Harm to industries throughout the Gulf Coast region, including commercial fishing, seafood processing, and tourism

economic

fidelity

faithfulness; loyalty

Because ________ seek to influence laws that benefit corporations, they are sometimes portrayed in a negative light in the media.

lobbyists

small organization

local supplies, minor export/import

politcal-legal environment

looks at the stability of the government we're going to be working with

Leading

looks at what motivates employees and being able to address those

controlling

managing productivity, quality, technology, information systems

natural resources

materials found in nature that are used by living things, example: minerals or oil

A group of managers are addressing ______________ when they decide to grapple with the challenges and opportunities that arise from the various differences among people in the organization's internal and external environments.

mulitculuralism

In 2015 and 2016, respectively, Amazon Handmade and Facebook Marketplace were launched as places where individuals could find buyers for one-of-a-kind items.

new entrants

If an organization wants to inspire workers to be more enthusiastic about their work, which aspect of its environment is it most likely to change?

organizational culture

A joint operation between BP and state employment agencies to train people to monitor beaches and pay them to perform environmental cleanup as needed

strategic partners

controls on international trade

tariff, quota, export restraint agreement, buy national

disadvantages to internationalism

tariffs and taxes, high transportation costs, government restrictions, inflexibility, competition, shared ownership, complexity, uncertainty, economic/political risk

The development of polymers that bond with oil to form a sponge-like material that is easily removed from the water

technological

Ever since Shelley started working remotely, she spends more of the workday playing video games than doing her job.

Employee's Treatment of Organization

When government inspectors show up at his plant, Jackson takes them to an expensive restaurant for lunch and gives them tickets to sold-out sports events.

Employee's or Organization's Treatment of Others

Scott Thompson stepped down from his role as CEO. Had he not resigned, the board of directors would have faced an ethical issue in ____________ .

Leadership

Although the company is highly profitable, the CEO refuses to offer employees more than bare-bones health insurance.

Organization's Treatment of Employees

multinational corporations MNC's

companies with operations in more than one country

A Starbucks opened around the corner from the local coffee shop.

competitors

An increase in business for alternative energy companies that make fuels that can be substituted for oil

competitors

Providing conveniences at service stations (such as banking machines and fresh coffee) to encourage motorists to patronize BP stations, even after the oil spill

customers

The Defensive approach is _________ the Proactive approach in degree of social responsibility.

lower than

private ownership

organizations that run their own organizations, example: master in business

public ownership

owned by local state governments, example: roads, landscape

advantages to internationalism

small cash outlay, little risk, no adaption necessary, existing infrastructure, increased profitability, quick market entry, more control

Making microloans to support the growth of small businesses

social welfare

AT&T, a cable provider, merged with DirecTV, a satellite provider.

substitutes

The Kiwanis Club asks you to make a presentation on corporate social responsibility. Which story will help you explain the concept of philanthropic giving in your presentation? Check all that apply. A. The Monsanto Fund Matching Gifts Program supports charities by matching donations of its employees. B. Walmart donated 4.5% of its pre-tax profits, amounting to $311,607,280, which helped support about 50,000 different charities. C. Walmart donated products valued at a total of $755,868,381 to several charities. D. Monsanto Company spent over $2 million on lobbying efforts related to agriculture and food regulations.

A,B,C

1. Business lacks expertise in social programs. 2. Involvement gives businesses more power. 3. There may be conflicts of interest. 4. Business exists to generate profit for the owners.

Arguments against Social Responsibility

1. Businesses create problems and should help solve them. .2. Corporations are citizens in our society. 3. Businesses have the resources to solve problems. .4. Business is a partner in society.

Arguments for Social Responsibility

Which of the following statements about culture are true? Check all that apply. A. Simple changes like staging new ceremonies and adopting new slogans cannot alter culture. B. Only those who supervise others need to understand organizational culture. C. A major way to shape culture is by bringing outsiders into important leadership positions. D. Cultural problems can arise when two companies with different cultures merge.

C, D

The National Football League focused on an anti-domestic violence initiative as part of its social responsibility efforts. If you were the manager leading the initiative, how would you most thoroughly evaluate its effectiveness? A. Survey the players and coaches. B. Report the funds allocated to the initiative. C. Measure the number of times the media mentioned the NFL's initiative. D. Conduct a social audit to identify what was accomplished.

D

A manager who is considering entry to a new market must carefully consider all aspects of the environment as it relates to that market, including any obstacles posed by _____________ who already have established relationships with suppliers and customers.

competitors

Facebook acquired Instagram.

competitors

Compliance is important for every organization, but complying with local, state, and federal laws is most challenging for companies doing business ________________ simply because there are more regulations to follow.

in heavily regulated industries

The local electric company is the only source of electricity in the community.

substitutes

Conformance with BP's environmental and ethical standards to be included on BP's list of approved vendors and contractors

suppliers

Facebook is funding the development of infrastructure that will provide Internet access in developing countries.

suppliers

Barriers to International Trade

undeveloped infrastructure, sociocultural differences, economic differences, political and legal differences