BUS275 Test
The term bottom of the pyramid refers to the more than 4 billion people who earn less than US _______ a year.
$1,500
Merger:
Combination of two or more companies into a single firm
A growing area of boundary spanning is ___________, which refers to activities to get as much information as possible about one's rival.
Competitiveness intelligence
Which of the following is not a part of an organization's general environment?
Competitors
A multinational corporation is managed as an integrated worldwide business system.
True
Mcdonald's, Burger King, and Taco Bell are competitors since all three sell fast food to individuals.
True
Joint venture:
an agreement between two or more companies to share a business project
Symbol
anything that stands for or represents something else
Adaptability culture
characterized by values that support the company's ability to interpret and translate signals from the environment into new behavior responses
Uncertainty avoidance
comfort level with uncertainty and ambiguity
Competitors
companies in the same industry that sell similar products or services to customers
Economic dimension:
economic health of the country/region in which the organization operates
Global outsourcing
engaging in the international division of labor so that work activities can be done in countries with the cheapest sources of labor and supplies❖ Also called offshoring
Strategic issues:
events or forces either inside or outside an organization that are likely to alter its ability to achieve its objectives
Political instability
events such as riots, revolutions, civil disorders, and frequent changes in government
Do many companies first get involved internationally by using one of the following approaches?
exporting
Partnerships represent a lower level of involvement in international trade than exporting and outsourcing.
false
Hero
figure who exemplifies the deeds, character, and attributes of a strong corporate culture
Legal-political dimension
government regulations at local, state, and federal levels, as well as political activities
Long-term orientation
greater concern for the future and highly values thrift and perseverance
Political risk
he risk of loss of assets, earningpower, or managerial control due topolitical events or actions by hostgovernments
Sociocultural dimension:
includes demographic characteristics, norms, customs, and values of a population within which the organization operates
Task environment:
includes entities that directly affect a firm on a constant basis and include competitors, suppliers, and customers
Boundary spanning:
links to and coordinates the organization with key elements in the external environment
Short-term orientation
more concerned with the past and the present and places a high value on tradition and meeting social obligations
Story:
narrative based on true events that is repeated and shared among organizational employees
Ethnocentrism
natural tendency of people to regard their own culture as superior and to downgrade or dismiss other cultural values
Supply chain:
network of multiple businesses and individuals that are connected through the flow of products or services
Technological dimension:
of the general environment includes scientific and technological advances in society
Suppliers
people and organizations that provide the raw materials that the organization uses to produce its output
High-context culture
people are sensitive to circumstances surrounding social exchanges
Labor market:
people in the environment who can be hired to work for the organization
Implicit communication
people send and receive unspoken cues, such as tone of voice or body language, in addition to the explicit spoken words when talking with others
Low-context culture
people use communication primarily to exchange facts and information; meaning is derived primarily from words
Slogan
phrase or sentence that succinctly expresses a key corporate value
Ceremony:
planned activity at a special event that is conducted for the benefit of an audience
Collectivism
preference for a tightly knit social framework in which individuals look after one another and organizations protect their members' interests
Masculinity
preference for achievement, heroism, assertiveness, work centrality (with resultant high stress), and material success
Multinational corporation
receives more than 25% of its total sales revenues from operations outside parent's home country
Achievement culture
results-oriented culture that values competitiveness, aggressiveness, personal initiative, cost cutting, and willingness to work long and hard to achieve results
McDonald's "I'm lovin' it" is an example of a:
slogan
Exporting
strategy in which the corporation maintains its production facilities within the home nation and transfers its products for sale in foreign countries
Internal environment:
the conditions and forces within an organization
General environment:
the economic, technological, sociocultural, and political/legal trends that indirectly affect all organizations
Globalization
the extent to which trade and investments, information, social and cultural ideas, and political cooperation flow between countries
International management:
the management of business operations conducted in more than one country
Corporate culture:
the shared experiences, stories, beliefs, and norms that characterize an organization
Customers
those who pay to use an organization's goods or services
Cultural leader:
a leader who actively uses signals and symbols to influence corporate culture
Cultural intelligence (CQ)
a person's ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devise appropriate behavioral responses
Global mind-set
ability of managers to appreciate and influence individuals, groups, organizations, and systems that represent different social, cultural, political, institutional, intellectual, and psychological characteristics
Power distance
acceptance of inequality in power among institutions, organizations, and people
Involvement culture
a culture that places high value on meeting the needs of employees and values cooperation and equality
The general environment affects organizations directly.
False
The international dimension of the general environment includes events originating in foreign countries, as well as new opportunities for U. S. companies in other countries
False
Organizational ecosystem:
Formed by the interaction among a community of organizations in the environment
Hofstede's value dimensions
Four dimensions of national value systems that influence organizational and employee working relationships
Natural dimension:
Includes all elements that occur naturally on Earth, including plants, animals, rocks, and natural resources such as air, water, and climate.
Bottom of the pyramid (BOP)
Proposes that corporations can alleviate poverty and other social ills, as well as make significant profits, by selling to the world's poor.
Individualism
value for a loosely knit social framework in which individuals are expected to take care of themselves
Consistency culture
values following the rules and thriftiness and rewards a methodical, rational, orderly way of doing things
Femininity
values relationships, cooperation, group decision making, and quality of life