Question 1

Which of the following management functions changes when a business operates internationally?

Accepted Answer

When a business operates internationally, all management functions (planning, organizing, controlling, and leading) may change due to different cultural, legal, and economic environments.

Question 2

Which of the following statements about India is not true?

Accepted Answer

While India does have a rapidly growing middle class, it is not accurate to say that it is the fastest-growing middle class in history. This claim lacks empirical evidence and is difficult to measure accurately.

Question 3

Kimberly values the relationships she has with her coworkers, and prefers working and making decisions in groups rather than by herself. According to Hofstede's value dimensions, Kimberly scores __________ in __________.

Accepted Answer

Kimberly's preference for working and making decisions in groups, valuing relationships with coworkers, aligns with the characteristics of high femininity in Hofstede's value dimensions. This dimension emphasizes cooperation, modesty, caring for the weak, and quality of life, which are traits reflected in Kimberly's preferences.

Question 4

One result of globalization is that countries, businesses, and people have become:

Accepted Answer

Globalization has resulted in countries, businesses, and people becoming increasingly interdependent on each other. This is because globalization involves the integration of economies, societies, and cultures through the flow of goods, services, capital, and technology across borders. As a result, countries and businesses rely on each other to access resources, markets, and knowledge, leading to greater interconnectivity and interdependence. While globalization has its drawbacks, such as increased inequality and environmental degradation, it has also created opportunities for cooperation and collaboration among diverse actors around the world.

Question 5

The psychological dimension of a global mind-set includes all of the following except:

Accepted Answer

The psychological dimension of a global mind-set includes a liking for diverse ways of thinking and acting, the energy to deal with the unpredictable and uncertain, a willingness to take risks, and the self-confidence to deal with the unpredictable and uncertain. However, the ability to build trusting relationships is more related to the social dimension rather than the psychological dimension.

Question 6

Timothy, a student at Rhodes College, is interested in expanding his global mind-set. Which of the following activities would help Timothy?

Accepted Answer

All of the given activities - learning a foreign language, studying abroad, and traveling overseas - can help Timothy expand his global mindset by exposing him to different cultures, customs, and ways of life. Learning a foreign language can help him communicate with people from different parts of the world and understand their perspectives. Studying abroad will give him an immersive experience of living in a foreign country and learning about its culture and way of life. Traveling overseas will enable him to explore new countries, learn about their history, and experience their local traditions and way of life. Therefore, engaging in all of these activities can help Timothy broaden his horizons and develop a more global perspective.

Question 7

According to a report by PricewaterhouseCoopers, India's __________ industry will likely be a global leader by 2020.

Accepted Answer

The report by PricewaterhouseCoopers suggests that India's pharmaceutical industry has the potential to become a global leader by 2020.

Question 8

The term bottom of the pyramid refers to the more than 4 billion people who earn less than US__________ a year.

Accepted Answer

The term bottom of the pyramid refers to the more than 4 billion people who earn less than US$1,500 a year.

Question 9

Sarah works at a U.S.-based company that gets most of its sales from Europe, more than half of the company's managers are non-American, and its employees work in five different countries. Based on this information, Sarah works at a(n):

Accepted Answer

A multinational corporation is a company that operates in multiple countries, has a diverse management team, and generates a significant portion of its revenue from foreign markets. This description fits the company where Sarah works, given that it has sales from Europe, non-American managers, and employees in different countries. A joint venture involves two or more companies creating a new business entity, which is not the case here. A bossless corporation and a transglobal corporation are not common business terms, and ethnocentric companies have a strong orientation toward their home country's culture, which is not necessarily the case for the company where Sarah works.

Question 10

The __________ is the largest regional agreement in history.

Accepted Answer

The Trans-Pacific Partnership, commonly known as TPP, is the largest regional agreement in history, covering 12 countries from Asia, North America, and South America, including the United States, Canada, Japan, Australia, and New Zealand. The agreement aims to boost economic growth, promote trade, and lower tariffs and barriers between member countries.

Question 11

Which of the following individuals would most likely prefer lower context communication?

Accepted Answer

The answer of Which of the following individuals would most...

Question 12

The management of business operations conducted in more than one country is called:

Accepted Answer

International management refers to the management of business operations conducted in more than one country. Global management may also be a possible answer, but it implies a broader scope that includes management of business operations within a country as well. Multinational management is a term that is interchangeable with international management but may place more emphasis on the presence of multiple nationalities within the business operations. Domestic management, on the other hand, refers to the management of business operations within a single country.

Question 13

Which of the following statements regarding the three strategies for entering business internationally is true?

Accepted Answer

The answer of Which of the following statements regarding the...

Question 14

Which of the following individuals would more likely be able to develop a global mind-set more easily?

Accepted Answer

Mathias, who is fluent in four different languages, would more likely be able to develop a global mindset as language fluency facilitates communication and understanding of different cultures. Being multilingual may also indicate that Mathias has had exposure to different cultures and ways of thinking, which can contribute to a global mindset.

Question 15

Whereas China is strong in __________, India is a rising power in __________.

Accepted Answer

India is recognized for its significant contributions to software design and development, making it a rising power in this field. China, on the other hand, has established itself as a global leader in manufacturing, producing a wide range of goods for international markets.

Question 16

Riots, revolutions, civil disorders, and frequent changes in government are all examples of:

Accepted Answer

Riots, revolutions, civil disorders, and frequent changes in government are all indicators of political instability, as they suggest a lack of continuity and predictability in the political environment. Political risk (A) is a broader concept that encompasses various types of risks associated with investing or doing business in a particular country or region, including economic, social, and legal risks. Political chaos (B) is not a commonly used term and does not have a clear definition. Low-context cultures (D) are those in which communication is typically explicit and direct, as opposed to high-context cultures where meaning is conveyed through indirect cues and context. This is not directly related to political instability or risk.

Question 17

The __________ dimension of a global mind-set means knowing about the global environment and global business, mentally understanding how cultures differ, and having the ability to interpret complex global changes.

Accepted Answer

The cognitive dimension of a global mind-set involves understanding and interpreting complex global changes, recognizing cultural differences, and having knowledge of the global business environment. This dimension refers to the mental aspect of developing a global mind-set.

Question 18

Starbucks has used __________ to expand in China and India.

Accepted Answer

Starbucks has used joint ventures to expand in China and India, partnering with local companies to navigate the cultural and business landscape in these countries.

Question 19

Your company is interested in producing and marketing a line of coffee that will penetrate the Chinese market. This is the first time your company has gotten involved internationally, so you are being cautious and would initially like to spend the least amount of money as possible to get involved. What type of strategy are you going to use?

Accepted Answer

Exporting involves selling products to another country, which is the most sensible choice in this scenario because it requires the least initial investment. Exporting doesn't necessitate establishing a foreign production facility or collaborating with another corporation. As a result, it will help the firm save money while also testing the waters of the Chinese market.

Question 20

Angela works at a company that emphasizes competitiveness between its employees. Angela works at a company __________ in __________.

Accepted Answer

According to the given information, the company emphasizes competitiveness between its employees. This indicates high assertiveness, which is the degree to which a society values competition, assertiveness, and materialism. Therefore, the best choice would be B - high assertiveness.

Quiz 4: Managing in a Global Environment