Principles of Management (MGT201)

In societies with low power distance, people are more likely to accept that power inequality is good and acceptable. True False

False

Which of the following describe a steadfast devotion to improving the welfare of others? Servant leadership Rights approach Stewardship Ethical relativism Altruism

Altruism

Which of the following is NOT one of the advantages of owning a small business? flexibility efficiency of operation ability to serve specialized markets avoidance of taxes personal service

Avoidance of taxes

Which of these describes someone who creates a new ethical norm? Servant leader Compliance officer Stakeholder Corporate leader Moral entrepreneur

Corporate leader

After graduating from college, Joseph Tantillo decided to start a retail Web site that specializes in personalized Greek apparel. To fund his Web site, he borrowed money from his parents (who expect to be repaid with interest). In other words, he used _____ financing. debt liquid equity venture entrepreneurial

Debt (Debt financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period.)

International trade specialists that buy goods at a discount from small businesses and resell them abroad are called: business trade unions export management companies domestic channel members commission house brokers export trading companies

Export trading companies

Which of the following a strategy where a company sends its product to an international market and fills the order just as it fills a domestic order? FDI Licensing Franchising Strategic Alliances Exporting

Exporting

______ refers to deliberate efforts of a country or company to invest in another country through the form of ownership positions in companies in another country. Tariffs Global strategy Licensing FDI WTO

FDI

According to universalism is a principle, an action is morally right if the net benefits over costs are greatest for all affected compared with the net benefits of all other possible choices. True False

False

Compare to Hofstede, the only two cultural dimensions unique to the GLOBE project are performance orientation and future orientation. True False

False

FDI is a contractual agreement whereby, in exchange for a royalty or fee, a company gives the right to another company to use a trademark, know-how, or other proprietary technology. True False

False

The DHL Global Connected Index, which tracks the flow of capital, information, trade, and human resources, indicates that the degree of globalization continues to decline. True False

False

The two sources for debt financing are angel investors and venture capitalists. True False (Those are the two sources of equity financing.)

False

Unfortunately, rights principle is grounded in legal but not moral rights. True False

False

The WTO's most important functions are all of these EXCEPT: providing the mechanism for countries to negotiate trade agreements monitoring trade agreements. financing the infrastructure development projects in less developed countries. providing the means to handle trade disputes. providing training to less-developed countries to implement agreements.

Financing the infrastructure development projects in less developed countries.

One of the advantages of owning a small business is: flexibility no taxes interest-free loans guaranteed profit all of the above

Flexibilitiy

According to Hofstede, which of the following is an implication of high collectivism? Hiring and promotion takes in-group into consideration Family relationships unimportant in hiring Treating friends better than others at the workplace is considered unethical Employee-employer relationship based on the market Training best when focused at individual level

Hiring and promotion takes in-group into consideration

_____ is at the core of most business failures. Low interest rate Poor cash flow Inadequate planning Too much inventory A too tall hierarchical structure

Inadequate planning

Venture capital: is another name for the principal which a business borrows from a bank includes all the money the owner of the business invests in his or her new enterprise is borrowed money invested in start-up businesses and provided by the Small Business Administration gives the investor no voice in how the company in which he or she has invested will operate is financing obtained from investment firms that specialize in financing small, high-growth companies

Is financing obtained from investment firms that specialize in financing small, high-growth companies

When Suzanne Pogell wanted to learn to sail, but she could find no one to teach her because men were the ones who sailed, and women were their crew. She finally convinced someone to teach her to sail, and after mastering sailing, she started an all-woman sailing school called Womanship. Pogell started small and plans to stay small. She would be correctly called a(n): interpreneur multipreneur intrapreneur growth entrepreneur micropreneur

Micropreneur (Micropreneurs are classic entrepreneurs that start small and plan to stay small.)

3BL relates to which of the 3-Ps? Product, price, and place Product, profit, and people Profit, people, and planet People, profit, and promotion Product, package, and profits

Profit, people, and planet

Angel investors: are most interested in investing in businesses that are well-established are another name for bank loan officers who are responsible for funding start-up businesses provide equity financing to a business by loaning the business money at a low interest rate provide funding for start-up businesses provide debt financing to a business by buying stock within the company

Provide funding for start-up businesses

Which of the following is NOT a dimension of cultural intelligence? Cognitive dimension Meta-cognitive dimension Motivational dimension Behavioral dimension Societal dimension

Societal dimension

Identifying and separating terminal from instrumental values in any given situation can assist individuals, groups, and work units in distinguishing between the "ends (goals) from the means (methods to reach the goals)" and vice versa in making decisions, thereby helping us choose more ethical options—or at least less unethical ones—in situations. True False

True

Micropreneurs are entrepreneurs who start small and plan to stay small. True False

True

Sylvia believes and tries to follow the principle that considers the welfare and risks of all parties when considering policy decisions and outcomes. She really tries incorporating a humane consideration of and for individuals and groups when deciding a course of action. Sylvia follows which of these ethical principles? Justice Rights Utilitarianism Universalism

Universalism

Which of these principles is related to universalism? Justice Rights Utilitarianism Ethical relativism Virtue Ethics

Virtue Ethics

____ is based on character traits such as being truthful, practical wisdom, happiness, flourishing, and well-being. Justice Rights Utilitarianism Universalism Virtue Ethics

Virtue Ethics

According to Hofstede, which of the following is an implication of low uncertainty avoidance? Preference for larger companies Top managers often involved in operations Rational championing Formalized management structures Weak loyalty to companies

Weak loyalty to companies

Which of the following describe mission of an organization? What is our product or service? What is our strategic purpose for operating? Who is our customer? Who are we? Who will we become? What do we stand for and believe in? What standards can be used to evaluate us and judge us?

What is our strategic purpose for operating?