Question 1

A(n) _____ is defined as an individual whose interests may be affected as the result of what another individual or organization does.
A) intrapreneur
B) entrepreneur
C) stakeholder
D) strategist
E) importer

Accepted Answer

A stakeholder is any individual or organization that is interested in or affected by the actions of another individual or organization. These can include customers, employees, shareholders, suppliers, and even the community at large. As such, stakeholders have a vested interest in ensuring that the organizations they are invested in or impacted by act responsibly and ethically.

Question 2

_____ refers to a technique used to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of a project or business.
A) Entrepreneurship
B) Strategic management
C) SWOT
D) Stakeholder analysis
E) Intrapreneurship

Accepted Answer

Stakeholder analysis involves identifying and evaluating the relevance and impact of key individuals or groups (aka stakeholders) involved in a project or business. This assessment is critical for developing and implementing effective strategies to manage the expectations and needs of these stakeholders, which is essential for achieving success. Options A, B, C, and E may be related to entrepreneurship and business management but are not specifically focused on evaluating stakeholders.

Question 3

_____ refers to the shift toward a more interdependent and integrated global economy.
A) SWOT
B) Globalization
C) Entrepreneurship
D) Strategic management
E) Intrapreneurship

Accepted Answer

Globalization is the term that refers to the shift toward a more interdependent and integrated global economy.

Question 4

_____ refers to the cross-border exchanges of goods, services, or resources between two or more nations.
A) Strategic management
B) International business
C) Intrapreneurship
D) Entrepreneurship
E) SWOT

Accepted Answer

Cross-border exchanges of goods, services, or resources between two or more nations fall under the domain of international business. Strategic management refers to the formulation and implementation of strategies by a business organization, while intrapreneurship and entrepreneurship relate to innovation and new venture creation. SWOT analysis is a tool used for strategic planning and decision making.

Question 5

The ideas of entrepreneurship can be applied to:
A) only existing organizations.
B) only new ventures.
C) ventures, old and new.
D) only private enterprises.
E) governments only.

Accepted Answer

The ideas of entrepreneurship can be applied to both new and existing ventures, so the best choice is C, as it includes both old and new ventures. It does not only apply to private enterprises or governments, but can be used in any organizational context.

Question 6

Strategic management is concerned with the:
A) social performance of an organization.
B) environmental performance of an organization.
C) economic performance of an organization.
D) generation of human capital for an organization.
E) overall performance of the organization.

Accepted Answer

Strategic management focuses on the overall performance of an organization, encompassing its financial, operational, and strategic positioning to achieve long-term goals and sustainability.

Question 7

The aim of an organization to make, distribute, and sell the finest quality products with a continued commitment to promoting business practices that respect the Earth and the environment would constitute the _____ of the organization.
A) political mission
B) social mission
C) product mission
D) environmental mission
E) economic mission

Accepted Answer

The answer of The aim of an organization to make,...

Question 8

The SWOT tool helps one to take stock of:
A) the marketing expenditure of an organization.
B) the strategies that are implemented by an organization.
C) an organization's external characteristics only.
D) an organization's external and internal characteristics.
E) an organization's internal characteristics only.

Accepted Answer

The SWOT tool stands for Strengths, Weaknesses, Opportunities, and Threats. It is used to assess both the internal and external characteristics of an organization. Therefore, it helps one to take stock of an organization's external and internal characteristics, making option D the correct choice. A and B are incorrect because SWOT is not limited to just marketing expenditure or strategies, respectively. Option C is also incorrect because SWOT evaluates both internal and external factors, not just external factors. Option E is wrong because SWOT is not limited to just internal characteristics.

Question 9

_____ refers to developing a new product or service in an already existing business.
A) Entrepreneurship
B) Strategic management
C) SWOT
D) Globalization
E) Intrapreneurship

Accepted Answer

Intrapreneurship refers to the process of developing and implementing new products or services within an existing organization. It involves using entrepreneurial skills and taking risks to innovate and create new opportunities for the business.

Question 10

_____ is defined as the recognition of opportunities and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.
A) SWOT
B) Entrepreneurship
C) Intrapreneurship
D) Globalization
E) Strategic management

Accepted Answer

Entrepreneurship is the process of identifying and creating new ventures or opportunities, and using available resources to implement innovative ideas. It involves taking calculated risks and pursuing new business ventures with a focus on creating value and achieving success. SWOT, intrapreneurship, globalization, and strategic management are related concepts, but they are not synonymous with entrepreneurship.

Question 11

Ethics is the same as following culturally accepted norms.

Accepted Answer

Ethics is not necessarily the same as following culturally accepted norms. While cultural norms may influence ethical behavior, ethics is a set of principles and values that guide individuals and organizations to make moral decisions and act responsibly, even if it goes against cultural norms.

Question 12

Foreign direct investment means that a firm is:
A) investing assets into a foreign country's share market.
B) investing assets directly into a foreign country's organizations.
C) loaning out interest free sums to a foreign country for infrastructural development.
D) investing government funds to accelerate urban development of a foreign country.
E) allowing its foreign competitors to make use of its infrastructural facilities.

Accepted Answer

Foreign direct investment (FDI) refers to when a company invests in and owns a controlling stake in a business enterprise in a foreign country. This can be done by acquiring an existing foreign company or establishing a new one. Therefore, option B is the correct answer as it states that a firm is investing assets directly into a foreign country's organizations. Options A, C, D, and E do not accurately describe FDI.

Question 13

A(n) _____ is defined as somebody who sells products and services that are sourced from other countries.
A) intrapreneur
B) entrepreneur
C) exporter
D) importer
E) stakeholder

Accepted Answer

An importer is a person or a company that buys products and services from other countries to sell in their own country.

Question 14

Social and natural science can provide important data to help us make better ethical choices.

Accepted Answer

Social and natural sciences can provide objective and empirical data that can inform ethical considerations and decisions. For example, studies in psychology can help us better understand the impact of certain actions on individuals and groups, while environmental science can inform us about the consequences of our actions on the natural world. However, it is important to note that scientific data alone cannot determine ethical values and principles, as these are ultimately subjective and influenced by cultural and individual beliefs.

Question 15

Global business professionals conduct stakeholder analysis in order to understand the:
A) financial implications of conducting business in foreign countries.
B) strategies required to overcome political and legal barriers in business.
C) human capital skills required to face the challenges of a fast changing market.
D) impact of operations in different countries on the overall corporate strategy.
E) nature of the competition operating in the globalized market.

Accepted Answer

Stakeholder analysis helps global business professionals understand the impact of their operations in different countries on the overall corporate strategy. It involves identifying and analyzing the interests, needs, and expectations of various stakeholders, such as customers, employees, suppliers, governments, and communities, and developing strategies to manage their concerns and maximize their contributions to the business. Therefore, option D is the best choice as it directly relates to the purpose of stakeholder analysis. The other options may also be important for global business professionals but are not directly related to stakeholder analysis.

Question 16

Open-sourcing refers to providing basic software online for free.

Accepted Answer

Open-sourcing refers to making software's source code freely available online, along with any associated documentation or resources, which enables anyone to view, use, modify, and distribute the software as they see fit. This does not necessarily mean the software is always provided for free, but it often can be.

Question 17

Business profit is typically gauged in:
A) financial terms.
B) social terms.
C) moral terms.
D) political terms.
E) human terms.

Accepted Answer

Business profit is typically measured and evaluated by financial terms such as revenue, cost, margin, return on investment, and other financial ratios. It is important for businesses to generate profit for sustainability and growth.

Question 18

_____ is the body of knowledge that answers questions about the development and implementation of good strategies.
A) Entrepreneurship
B) Strategic management
C) SWOT
D) Intrapreneurship
E) Strategy

Accepted Answer

Strategic management is the body of knowledge that deals with the development and implementation of good strategies. Entrepreneurship is the process of creating a new venture, while intrapreneurship refers to entrepreneurship within an existing organization. SWOT is a tool for analyzing a company's strengths, weaknesses, opportunities, and threats, and strategy is the plan of action for achieving a goal.

Question 19

Work-flow software ensures that complex projects with more interdependent parts can be worked on collaboratively from anywhere.

Accepted Answer

Work-flow software helps teams collaborate on projects with interdependent parts from different locations.

Question 20

A(n) _____ is defined as somebody who sells products and services in foreign countries that are sourced from its home country.
A) entrepreneur
B) importer
C) stakeholder
D) exporter
E) intrapreneur

Accepted Answer

An exporter is a person or company that sells products or services in foreign countries that are sourced from their home country.

Quiz 1: Introduction

A(n) _____ is defined as an individual whose interests may be affected as the result of what another individual or organization does.

_____ refers to a technique used to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of a project or business.

_____ refers to the shift toward a more interdependent and integrated global economy.

_____ refers to the cross-border exchanges of goods, services, or resources between two or more nations.

The ideas of entrepreneurship can be applied to:

Strategic management is concerned with the:

The aim of an organization to make, distribute, and sell the finest quality products with a continued commitment to promoting business practices that respect the Earth and the environment would constitute the _____ of the organization.

The SWOT tool helps one to take stock of:

_____ refers to developing a new product or service in an already existing business.

_____ is defined as the recognition of opportunities and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.

Ethics is the same as following culturally accepted norms.

Foreign direct investment means that a firm is:

A(n) _____ is defined as somebody who sells products and services that are sourced from other countries.

Social and natural science can provide important data to help us make better ethical choices.

Global business professionals conduct stakeholder analysis in order to understand the:

Open-sourcing refers to providing basic software online for free.

Business profit is typically gauged in:

_____ is the body of knowledge that answers questions about the development and implementation of good strategies.

Work-flow software ensures that complex projects with more interdependent parts can be worked on collaboratively from anywhere.

A(n) _____ is defined as somebody who sells products and services in foreign countries that are sourced from its home country.