Business management Notes

A ___ ___ occurs when a nation imports more than exports.

Trade deficit

Jack has become a franchisee of a Sonic in his local community. This has enabled him to have access to _____ in order to sell the products under the Sonic name. Pick the possible answer. There is only 1 correct answer.

the knowledge, processes, and trademarks of Sonic

License agreements usually cover property that___., such as trademarks, images, patents, or production techniques.

Intangible

Bob Cratchett is an accountant with Marly and Co., a prosperous lender in London. Marly and Co. has survived some severe downturns in the market and has been a stable employer. Bob wears heavy wool suits at work in the winter and works at a standing desk. The______is a clue to the culture at Marly and Co.

employee's dress

Companies produce product locally and sell them in foreign markets

exporting

Some of the visible clues to a company's culture are

how employees dress, snack areas and candy jars, and plaques and awards.

Companies seeking to expand their products to global emerging markets will likely pursue:

Brazil, Russia, India, china

What workforce may offer more creative approach or solutions to probelms.

Diverse

The U.S. currently does not allow import of the world's best cigars from Cuba, because the U.S. trade restrictions with Cuba constitute an_____

Embargo

What is meant by "Assumptions" in the levels of corporate cultures?

IDK

Which of the following are accurate statements about corruption in the global business environment?

In the United States companies must abide by the Foreign Corrupt Practices Act.

Which of the following are NOT a method for maintaining corporate culture

Incenting

There are a number of strategies a business can use to gain access to foreign markets. Exporting is considered to be______ means of entering a new market.

The fastest and least expensive

Bribery is one of _____ examples of a corporation engaged in unethical behavior.

The most common

Apple and Microsoft are competitors in selling computer operating systems, the MAC OS and Windows. Yet they have very different cultures and values. Apple is known for design and attention to detail. Microsoft is aggressive, launching products before they are finished. Both cultures reflect

Their Founders

The investment portfolio staff earn millions in profits by anticipating near-term market movements. The programmers tend to come in late and work late.Their goals are saving thousands of dollars through cost reductions. Differences in _____can create friction over decisions that make little sense to the other group.

Work Style

Corporate culture is rooted in

an organizations goals, strategies, structure

When countries engage in trade, they specialize in the production of goods in which they have a ____-advantage. Goods and services are produced where the opportunity cost is_____.

competitive: lowest

To deliberately initiate culture change at company is an uphill struggle. Most employees tend to return to familiar ways of doing business. To succeed, executives need to

create a sense of urgency, model the changes that they want, and show commitment to the new culture.

Governments maintain laws that regulate business practices in order to:

create a stable environment for business.

The banking industry is heavily regulated to prevent crises like the Great Recession of 2008. At the same time, it can be very competitive, with bankers each trying to win deals. A company in this industry may have two cultures, one to enforce regulations and another to make the sales or investment decisions.The employees working on regulations need to be

detail-orianted

In the Organizational Culture Profile (OCP), companies can be scored on seven dimensions that reflect their culture. These include

detail-oriented, aggressive, and people-oriented.

Although outright bribery is clearly unethical and illegal, there is a great deal of behavior that falls into a gray zone that can be:

difficult to analyze

Diversity as a strategy hopes to gain, for example, from more problem-solving approaches or more connections. In this context, diversity includes

personality, cognitive style, education, and social background

Companies make choices in their HR processes that can help maintain the culture. The processes include

recruiting, hiring, and training

Comparative and absolute advantage are competitive advantage concepts that determine production and trading decisions. Absolute advantage is based on _____ ______; comparative advantage is based on ____ _____

resource exclusivity or factor productivity; relative opportunity cost

Exports are an important source of what for many countries?

revenue

In global finance the term IMF refers to

the International Monetary Fund

If Mexico is seeking credit to stabilize its currency in a major economic disruption, then it would turn to:

the International Monetary Fund.

Which organization seeks to provide capital investments for economic growth and infrastructure projects:

the International Monetary Fund.