Managing in a Global Business Environment (QHC1) D080
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Free Managing in a Global Business Environment (QHC1) D080 Questions
A company finds that its workers struggle to efficiently address daily problems because their current information systems do not communicate across departments. Which type of system could this company implement to help solve this problem
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Machine learning algorithm
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Management information system
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Integrated software suite
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Enterprise resource planning
Explanation
Correct answer:
D) Enterprise resource planning
Explanation:
An Enterprise Resource Planning (ERP) system integrates all of the company's departments into one unified system. This allows data to be shared seamlessly across functions, improving communication and efficiency in addressing daily problems.
Why the other options are wrong:
A) Machine learning algorithm – Machine learning algorithms are useful for data analysis and predictions, but they do not necessarily solve communication or integration issues between departments.
B) Management information system – While a management information system (MIS) helps gather and process information, it does not always integrate data across departments like an ERP system.
C) Integrated software suite – An integrated software suite may offer solutions for specific functions, but it is not as comprehensive as an ERP system in terms of cross-departmental integration.
How does organizationally supported cultural training drive increased satisfaction in international assignments
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It guarantees the success of the candidate.
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It manages expectations of the candidate.
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It supports a complete change of the candidate.
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It creates personal relationships for the candidate.
Explanation
Correct answer:
B) It manages expectations of the candidate.
Explanation:
Cultural training helps employees understand cultural differences, adjust expectations, and prepare for challenges, leading to greater job satisfaction and success in foreign assignments.
Why the other options are wrong:
A) It guarantees the success of the candidate. – Training improves chances of success but does not guarantee it.
C) It supports a complete change of the candidate. – Training helps adaptation but does not fundamentally change the person.
D) It creates personal relationships for the candidate. – Training provides cultural insights but does not directly create relationships.
Which institution helps to maintain the availability of global financing to solve trade deficit issues
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The World Bank
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The Federal Reserve
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International Monetary Fund
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International Finance Corporation
Explanation
Correct answer:
C) International Monetary Fund
Explanation:
The International Monetary Fund (IMF) plays a key role in providing global financing and helping countries solve balance of payments issues, including trade deficits. It offers financial support, policy advice, and technical assistance to countries facing economic instability or deficits.
Why the other options are wrong:
A) The World Bank – The World Bank focuses on long-term economic development and poverty reduction rather than short-term financing for trade deficits.
B) The Federal Reserve – The Federal Reserve is the central bank of the U.S., and its policies influence domestic economic conditions, but it does not directly address global financing for trade deficits.
D) International Finance Corporation – The IFC focuses on private sector development and investments rather than addressing trade deficits or providing global financial solutions.
A multinational detergent company is marketing its product in an emerging market. In these markets, the company decides to offer packaging sizes that are smaller than what is offered in more developed markets.
Which type of marketing strategy is this an example of
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Brand redevelopment
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Standardization
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Product adaptation
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Multi-brand
Explanation
Correct answer:
C) Product adaptation
Explanation:
Product adaptation involves modifying a product to meet local market needs, such as smaller packaging sizes for cost-conscious consumers in emerging markets.
Why the other options are wrong:
A) Brand redevelopment – Brand redevelopment involves rebranding or repositioning, not altering product size.
B) Standardization – Standardization means selling the same product worldwide without modifications.
D) Multi-brand – Multi-branding involves selling multiple brands under one company, not modifying a product.
What is the impact of trade diversion on production within a trading bloc
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Wages decrease.
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Costs increase.
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Efficiency increases.
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Prices decrease.
Explanation
Correct answer:
B) Costs increase.
Explanation:
Trade diversion occurs when a country within a trade bloc stops importing cheaper goods from outside the bloc in favor of more expensive goods from within the bloc. This leads to increased production costs because the most cost-efficient global supplier is bypassed in favor of a regional producer.
Why the other options are wrong:
A) Wages decrease. – Trade diversion does not directly impact wages; it primarily affects trade flows and costs.
C) Efficiency increases. – Trade diversion often leads to inefficiencies by forcing countries to buy from less competitive producers.
D) Prices decrease. – Since trade diversion replaces lower-cost imports with higher-cost ones, prices generally increase rather than decrease.
What is one purpose of the World Bank
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To supply technical expertise for development
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To establish networks for sharing financial information
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To provide loans to developing countries
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To assist with building infrastructure
Explanation
Correct answer:
C) To provide loans to developing countries
Explanation:
The primary purpose of the World Bank is to provide financial assistance to developing countries, helping them build infrastructure, reduce poverty, and foster economic development. It offers loans and grants to support projects that aim to improve the standard of living and promote sustainable development.
Why the other options are wrong:
A) To supply technical expertise for development – While the World Bank may provide technical expertise, this is not its main purpose; providing financial aid and loans is the core function.
B) To establish networks for sharing financial information – The World Bank does not primarily focus on establishing financial networks; its role is more centered on providing development aid.
D) To assist with building infrastructure – Although infrastructure projects are part of the World Bank's funding initiatives, its primary purpose is providing loans to developing countries rather than focusing exclusively on infrastructure building.
Which negative outcome on political systems comes from globalization
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Increase in the number of laws
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Increase in the amount of taxes
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Creation of isolationist policies
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Creation of translation problems
Explanation
Correct answer:
C) Creation of isolationist policies
Explanation:
Globalization can lead some nations to react by adopting isolationist policies as a way to protect their national identity, culture, and economy from foreign influence. This backlash can manifest in trade restrictions, protectionism, and a withdrawal from international agreements.
Why the other options are wrong:
A) Increase in the number of laws – Globalization can lead to harmonization of laws across borders, rather than an increase in the number of laws.
B) Increase in the amount of taxes – Globalization can lead to tax competition or tax cuts, as governments may reduce taxes to attract global investment.
D) Creation of translation problems – While translation issues can arise due to language diversity, this is more of a logistical challenge, not a direct negative outcome of globalization on political systems.
A multinational company requires all global operations managers to identify good internal controls during a training session. Which example should be identified by the managers
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A manager recording the accounting transactions of the company
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A manager approving a transaction recorded by an employee
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An employee responsible for handling all cash receipts and recording them in the ledger
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An employee using a generic password and ID to record a transaction
Explanation
Correct answer:
B) A manager approving a transaction recorded by an employee
Explanation:
A key principle of internal controls is separation of duties, which prevents fraud and errors. Having a manager approve a transaction recorded by an employee ensures oversight and accountability.
Why the other options are wrong:
A) A manager recording the accounting transactions of the company – This does not establish oversight or checks and balances.
C) An employee responsible for handling all cash receipts and recording them in the ledger – Allowing the same person to handle and record cash transactions increases the risk of fraud.
D) An employee using a generic password and ID to record a transaction – This weakens security and accountability, making it difficult to track responsibility for transactions.
What is the effect, if any, on the domestic prices of these products
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Increases
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Decreases
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Stays the same
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Cannot be determined
Explanation
Correct answer:
A) Increases
Explanation:
When Country A imposes quotas on imported products, it limits the supply of foreign goods available in the domestic market. This restriction on imports reduces competition from foreign producers, which often results in an increase in the price of domestic products, as local producers can charge higher prices when the supply of cheaper alternatives is limited.
Why the other options are wrong:
B) Decreases – Quotas generally lead to higher prices, not lower, due to reduced competition from imports.
C) Stays the same – Prices are unlikely to stay the same when a quota is imposed, as domestic suppliers typically take advantage of reduced competition to raise prices.
D) Cannot be determined – The effect on prices can be reasonably determined given the mechanics of supply and demand, making this answer unnecessary.
What is a characteristic of a market economy
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Government regulation is abundant.
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Production is based on traditions.
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Goods and services are publicly owned.
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Firms seek to maximize profits.
Explanation
Correct answer:
D) Firms seek to maximize profits.
Explanation:
In a market economy, the focus is on supply and demand, where private firms and individuals make decisions regarding production and distribution, often aiming to maximize profits. The role of the government is limited, and market forces largely determine pricing and resource allocation.
Why the other options are wrong:
A) Government regulation is abundant. – In a market economy, government regulation is usually limited compared to other economic systems.
B) Production is based on traditions. – This characteristic belongs to a traditional economy, not a market economy.
C) Goods and services are publicly owned. – In a market economy, goods and services are privately owned, not publicly.
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