Quiz Step by Step 5= Business - Management

As working at home becomes more commonplace, home-based businesses have developed a better image than in the past

Describe the various types of partners an international firm might adopt when expanding internationally. How can a business partner affect a company's sales potential?

Business partners are critical to success in international business. These partners include distribution-channel intermediaries, facilitators, suppliers, and collaborative venture partners such as joint venture partners, licensees, and franchisees. Once the firm has selected a target market, it must identify the types of partners it needs for its foreign-market venture, negotiate terms with chosen partners, and support and monitor their conduct.
Exporters tend to collaborate with foreign-market intermediaries such as distributors and agents. Firms that choose to sell their intellectual property, such as know-how, trademarks, and copyrights, tend to work through foreign licensees. These licensing partners are independent businesses that apply intellectual property to produce products in their own country. In franchising, the foreign partner is a franchisee, an independent business abroad that acquires rights and skills from the focal firm to conduct operations in its own market (such as in the fast-food or car-rental industries). The focal firm can also internationalize by initiating an international collaborative venture, a business activity undertaken jointly with other firms. These collaborations may be project based or require equity investments. Other types of international partnerships include global sourcing, contract manufacturing, and supplier partnerships.
Once managers have identified several promising country markets, verified industry market potential, and assessed the availability of qualified business partners, the next step is to determine company sales potential in each country. Company sales potential is an estimate of the share of annual industry sales the firm expects to generate in a particular target market.
The competencies and resources of foreign partners, including channel intermediaries and facilitators, influence how quickly the firm can enter and generate sales in the target market.

3

Most modern firms strive for a rigid promotion from within policy to develop a strong organizational culture and foster creativity

4

What five areas of business activity need to be examined to answer the question "How profitable is the business?"

5

An enterpriser who excels in putting deals together: a. usually has experience in a related or similar field

6

Susan, a telemarketing executive of a company producing household appliances, receives a complaint from one of the customers for a week's delay in delivery. In order to pacify the customer, Susan offers to deduct delivery charges. Susan takes this decision because the customer happensto be a regular user of the company's products and she does not want the company to lose a valuable customer

7

How would you describe someone with strong moral identity?

8

In the ____, managers seek information from all their contacts that may affect their job performance and goal accomplishment

9

Corporate social responsibility is the

10

Which of the "Big Five" personality dimensions is associated with being imaginative, cultured, curious, broad-minded, and artistically sensitive?

11

Porter and Lawler suggested that, under the right conditions, high levels of performance might lead to satisfaction, rather than the other way around

12

Executives often negotiate generous severance packages that they receive if the company is taken over by another. These are known as

13

________ is a set of organized data, facts, numbers, and words

14

______ describes routine altruistic acts that increase productivity and build trusting relationships in the workplace.

15

All of the following except one can negatively affect willingness to participate in training. Which one does not?

16

The Teamsters have rarely shown much interest in politics

17

Job _______________ is the process of collecting, dissecting, and synthesizing information about jobs

18

Martin Smiths works for a small chemical manufacturing company for the past ten years. Off late he and the other workers have developed minor respiratory problems. They confronted the management demanding proper ventilation at the factory as inhaling the chemical fumes continuously could prove fatal. When the management did not respond to their demands, they threatened to sue the company under the _____.

19

A technical forecaster is also known as a ________

20

In _____, the manufacturer and the retailer split the costs of advertising the manufacturer's brand.

21

The quantity of a product that producers will sell at various prices is known as ____________________, and the quantity that consumers will purchase at those different prices is called ____________________.

22

Team leaders direct the work of individuals within the team structure

23

_______________________ teams work on Long term projects and ____________ assignments. (ex: research, new product development)

24

____________________ ratios show the ability of a firm to pay its short-term debts.

25

Scientists have developed a fast and inexpensive test for bacterial contamination to detect salmonella and listeria in food. The test will help restaurants maintain food safety and customer loyalty. In terms of the specific environment of the restaurant industry, if the FDA requires all restaurants to buy and use this test, it would be an example of the _____ component of the environment

26

Long-term variable pay plans provide employees ownership opportunities as the value of the organization increases are applicable only in the ____.

27

The most important intellectual property in the creative economy is:

28

Parallel loans are useful to

29

Concerning the stages of economic integration, by the early 1990s, the European Union had essentially reached the stage of a (an)

30

In Sherry Turkle's new book she explores the growing human tendency to:

31

Which of the following types of operations control relies heavily on feedback processes?

32

For years, the Tabasco Company used a(n) ____ strategy and manufactured only its famous hot sauce

33

Why has the team-based structure gained popularity?

34

Supply chain and location decisions sometimes backfire because of all of the following except ______.

35

Match the following numbered items with the most correct response letter. A response may be used once, more than once, or not at all.

36

One concern of multisource rating is that peers who rate poor-performing coworkers tend to inflate the ratings so that the peers themselves can get higher overall evaluation results in return.

37

Which of the following refers to the perceived fairness regarding the amount of information given by decision-makers?

38

An expense that isn't affected by the number of items a business produces is a(n) ________

39

The FBI critical incident response group was created in ________.

40

Which of the following is not a likely cause of the recent increase in nonunion dispute resolution systems?

41

Which of the following statements BEST reflects the proper approach to goal setting?

42

The main goal of Mumford et al.’s research was ______.

43

The degree to which jobs within a company are standardized is referred to as ___________.

44

According to goal-setting theory, goals are more likely to have a stronger impact on performance when ________

45

Develops from internalized values that dictate that a leader has an inherent right to influence subordinates

46

Think about the school system you attended. Give specific examples of each of the six types of stakeholders that existed in that school system.

47

The advantage of hiring ____ is that abilities, expertise, and personalities are generally known beforehand

48

The term sheet is a letter of intent that spells out the terms the VC is prepared to accept

49

Managers often first assume poor performance of subordinates to

50

In an organization, when there are many subunits and many specialists who think differently, differentiation is said to be high.

51

Assume that Country A, in the absence of trade, finds itself relatively abundant in labor and relatively scarce in land. The factor endowment theory reasons that with free trade, the internal distribution of national income in Country A will change in favor of:

52

Which of the following scenarios is likely to produce low levels of citizenship behaviors?

53

A broad statement that defines the purpose for a company's existence is the mission statement.

54

An employee with the same job title who's at the same organizational level as another employee may possess ________ job depth because of personal influence.

55

Using the same business you chose for Exercise 1, outline the information that you will need to collect about the new market.

56

A strategic plan involves making decisions about the organization's ________ goals.

57

The text states that managers fail to delegate for all the following reasons EXCEPT:

58

Studies show that corporate presidents tend toward ________

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Quiz Step by Step 5= Business - Management

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