Managing in a Global Business Environment (QHC1) D080
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Free Managing in a Global Business Environment (QHC1) D080 Questions
A global company needs to have all of its information management systems operate in an integrated manner across all departments and locations. Which strategy should be used for this purpose
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Enterprise resource planning system
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Supplier relationship management
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Transaction monitoring system
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Customer relationship management
Explanation
Correct answer:
A) Enterprise resource planning system
Explanation:
An enterprise resource planning (ERP) system integrates key business processes across an organization, enabling seamless data flow between departments and locations. It helps streamline operations and ensures that all systems work together in an integrated manner.
Why the other options are wrong:
B) Supplier relationship management – This focuses on managing relationships with suppliers, not overall company integration.
C) Transaction monitoring system – This is used for monitoring specific transactions, not for integrating information management across an organization.
D) Customer relationship management – This focuses on managing interactions with customers, but it does not provide full integration of all information systems across the company.
U Carp produces a large quantity of identical products to cater to anticipated future demands. Which production process does the company follow
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Make-to-sale production
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Mass customization
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Make-to-order
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Mass production
Explanation
Correct answer:
D) Mass production
Explanation:
Mass production is a process where large quantities of identical products are produced to meet anticipated future demand. This method is used when there is a high demand for standardized products, and the production process is streamlined for efficiency.
Why the other options are wrong:
A) Make-to-sale production – This term generally refers to producing products in anticipation of sales but does not specifically imply the large-scale, identical production associated with mass production.
B) Mass customization – Mass customization involves producing products in large quantities but allowing for some degree of customization to individual customers, which doesn't apply to producing identical products for future demand.
C) Make-to-order – Make-to-order production involves producing items only when an order is received, not in anticipation of future demand like mass production does.
Which goal is this U.S. company trying to achieve by using a transnational strategy
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Decreased localized marketing
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Product customization
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Economies of scale
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Localized payment methods
Explanation
Correct answer:
C) Economies of scale
Explanation:
A transnational strategy seeks to balance global efficiency (economies of scale) with local adaptation. By integrating its business globally, the company is aiming to maximize cost efficiency while still catering to local markets.
Why the other options are wrong:
A) Decreased localized marketing – Transnational strategies maintain local marketing efforts rather than decreasing them.
B) Product customization – While some adaptation may occur, transnational strategies primarily focus on global integration rather than full customization.
D) Localized payment methods – Payment methods may vary, but this is not the primary goal of a transnational strategy.
Why might a company make a fronting loan to its subsidiary in a different country
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To pay a flat instead of variable income tax rate
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To bypass local laws restricting the amount of fund transfers abroad
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To pay a lower interest rate than when transferring the money to the subsidiary
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To keep the subsidiary from operating in an illegal tax haven
Explanation
Correct answer:
B) To bypass local laws restricting the amount of fund transfers abroad
Explanation:
A fronting loan is typically used to bypass local laws or restrictions that limit the amount of funds a parent company can send to its subsidiary. The parent company makes the loan through a third party, typically a financial institution, in a jurisdiction with fewer restrictions.
Why the other options are wrong:
A) To pay a flat instead of variable income tax rate – This is not the primary purpose of a fronting loan, which deals more with legal and regulatory compliance rather than tax rates.
C) To pay a lower interest rate than when transferring the money to the subsidiary – The interest rate is not the key factor in fronting loans; rather, it's the legal strategy used to bypass restrictions.
D) To keep the subsidiary from operating in an illegal tax haven – Fronting loans are not typically used to prevent subsidiaries from operating in tax havens but to navigate local legal and regulatory challenges.
Which impact does Islamic law directly have on businesses
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It forbids charging interest.
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It commercializes the legal system.
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It prohibits sale-buyback of businesses.
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It limits the globalization of business.
Explanation
Correct answer:
A) It forbids charging interest.
Explanation:
Islamic law, or Sharia, prohibits the charging of interest (riba) on loans, which affects how businesses in Islamic countries conduct financial transactions. This restriction influences how banks and financial institutions operate, requiring alternative financial models based on profit-sharing or asset-backed transactions.
Why the other options are wrong:
B) It commercializes the legal system. – Islamic law does not commercialize the legal system; instead, it offers a different set of principles for managing business and financial transactions.
C) It prohibits sale-buyback of businesses. – This is not a general feature of Islamic law; rather, it may be related to specific contractual restrictions in certain contexts.
D) It limits the globalization of business. – Islamic law does not inherently limit globalization; it mainly influences how businesses engage in financial and ethical practices.
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.
What does it mean when damages are sought for the breach of a legally enforceable contract
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The party that broke the contract is blocked from additional foreign trade deals.
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The injured party is given subsidies and support by the other party's government.
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The injured party is compensated and made whole from the contract.
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The party that breaks the contract is restricted from further government contracts.
Explanation
Correct answer:
C) The injured party is compensated and made whole from the contract.
Explanation:
When damages are sought for a contract breach, the injured party seeks financial compensation to cover losses and restore their position as if the contract had been fulfilled. This is a common legal remedy in contract law.
Why the other options are wrong:
A) The party that broke the contract is blocked from additional foreign trade deals. – Breaching a contract does not necessarily lead to international trade restrictions.
B) The injured party is given subsidies and support by the other party's government. – Governments do not typically provide subsidies for contract breaches.
D) The party that breaks the contract is restricted from further government contracts. – Contract breaches may lead to legal consequences, but restrictions on government contracts depend on the nature of the breach.
What is the purpose of phytosanitary measures that act as non-tariff barriers on the import of goods
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They protect humans, animals, and plants from pests or diseases.
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They provide standards for labeling and testing products.
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They impose the need for specific export licenses for shipment of goods.
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They provide rules for product weights, sizes, or packaging.
Explanation
Correct answer:
A) They protect humans, animals, and plants from pests or diseases.
Explanation:
Phytosanitary measures are non-tariff barriers designed to prevent the introduction and spread of harmful pests, diseases, or contaminants through the importation of goods, especially in agriculture and food products. These measures aim to safeguard the health of humans, animals, and plants.
Why the other options are wrong:
B) They provide standards for labeling and testing products. – While labeling and testing ensure product safety and quality, they are not specifically focused on biological threats like pests and diseases, which phytosanitary measures address.
C) They impose the need for specific export licenses for shipment of goods. – Export licenses regulate trade but do not directly relate to phytosanitary measures, which focus on plant and animal health rather than licensing requirements.
D) They provide rules for product weights, sizes, or packaging. – Rules on product dimensions and packaging pertain to trade regulations but do not address the health risks that phytosanitary measures aim to mitigate.
What is likely to happen when trade opens up
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Economies of scale in comparative advantage industries will decrease.
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Jobs will increase in non-comparative advantage industries.
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Jobs will increase in comparative advantage industries.
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Productivity in comparative and non-comparative advantage industries will decrease.
Explanation
Correct answer:
C) Jobs will increase in comparative advantage industries.
Explanation:
When trade opens up between two countries, each country tends to specialize in the industries where it has a comparative advantage — that is, the industries where it can produce goods or services at a lower opportunity cost than others. As countries specialize and trade, the industries in which they have a comparative advantage are likely to experience job growth due to increased demand for their goods or services. This is a key benefit of trade, as it allows both countries to maximize their efficiency and productivity.
Why the other options are wrong:
A) Economies of scale in comparative advantage industries will decrease. – Opening up trade typically increases economies of scale, as industries can produce larger quantities and reach broader markets.
B) Jobs will increase in non-comparative advantage industries. – Trade usually shifts jobs to the comparative advantage industries, not non-comparative advantage industries.
D) Productivity in comparative and non-comparative advantage industries will decrease. – Productivity generally increases when countries specialize according to comparative advantage, not decrease.
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.
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BUS 2070 D080 Managing in a Global Business Environment-QHC1 Study notes
Course Overview
BUS 2070 focuses on the strategies and challenges businesses face in managing operations within a global context. It covers topics such as international business environments, global economic factors, cultural influences, and effective management practices for navigating cross-border operations. This course emphasizes understanding the role of management in a globalized world, with the aim of preparing students to work in dynamic, international business settings.
Key Topics
1. Globalization and International Business
- Definition of Globalization: Globalization refers to the increasing interconnectedness and interdependence of the world's markets and businesses.
- Impact of Globalization:
- Expands market reach and opportunities.
- Increases competition and operational complexities.
- Drives technological, cultural, and economic changes.
- International Business vs. Domestic Business:
- International business involves trade, investment, and management across borders, while domestic business is limited to one country.
- Global Trade Theories:
- Absolute Advantage (Adam Smith): A country can produce a good more efficiently than another.
- Comparative Advantage (David Ricardo): Countries should specialize in producing goods in which they have the lowest opportunity cost.
- Heckscher-Ohlin Theory: Explains that countries export goods that use their abundant factors of production.
- Product Life Cycle Theory (Raymond Vernon): As a product matures, its production moves from developed to developing countries.
2. Cultural Influences in International Business
- Culture and its Impact on Management: Culture shapes behaviors, values, communication styles, and business practices.
- Hofstede’s Cultural Dimensions:
- Power Distance: The extent to which less powerful members of society accept unequal power distribution.
- Individualism vs. Collectivism: Whether people are more individual-oriented or group-oriented.
- Masculinity vs. Femininity: The preference for achievement, assertiveness, and material success versus nurturing and quality of life.
- Uncertainty Avoidance: The degree to which members of a society feel uncomfortable with uncertainty and ambiguity.
- Long-Term vs. Short-Term Orientation: The focus on future rewards versus short-term results.
- Indulgence vs. Restraint: The extent to which society allows gratification of basic human desires.
- Impact of Cultural Sensitivity: Understanding cultural differences is essential for successful international business relationships and management strategies.
3. Political, Legal, and Economic Environments
- Political Systems:
- Democracy: Characterized by free elections and participation.
- Authoritarianism: One leader or a small group holds power.
- Totalitarianism: Complete control by the government over all aspects of life.
- Legal Systems:
- Common Law: Based on court decisions and precedents.
- Civil Law: Based on written statutes.
- Theocratic Law: Based on religious laws.
- Economic Systems:
- Market Economy: Decisions are driven by supply and demand.
- Planned Economy: The government controls production, pricing, and distribution.
- Mixed Economy: Combines elements of both market and planned economies.
4. Global Market Entry Strategies
- Exporting: Selling goods or services produced in one country to customers in another.
- Licensing and Franchising: Allowing a company in another country to produce and sell products using your brand, trademarks, or technology.
- Joint Ventures: Forming a partnership with a foreign company to share resources and risks.
- Foreign Direct Investment (FDI): Establishing or acquiring business operations in another country.
- Strategic Alliances: Collaboration between companies from different countries to leverage synergies.
- Mergers and Acquisitions: Merging with or acquiring a business in a foreign market to gain market share or resources.
5. Global Supply Chain Management
- Definition and Importance: The global supply chain involves the sourcing of raw materials, production, and distribution of goods across multiple countries.
- Challenges:
- Currency fluctuations.
- Political risks.
- Different standards and regulations.
- Logistics and transportation issues.
- Supply Chain Strategies:
- Global Sourcing: Procuring goods and services from global suppliers.
- Just-in-Time (JIT): A strategy to minimize inventory costs by receiving goods only when needed.
- Outsourcing and Offshoring: Transferring production to lower-cost countries.
6. International Marketing
- Global Marketing Strategies:
- Standardization: Using the same marketing strategy worldwide.
- Customization: Adapting the marketing strategy to local conditions.
- Market Research in Global Contexts: Understanding consumer behaviors, trends, and preferences across different countries.
- Product Positioning and Branding: Tailoring products and brands to appeal to international markets while maintaining consistency.
7. Managing Cross-Cultural Teams
- Communication: Understanding verbal and non-verbal communication differences across cultures.
- Leadership Styles: How different cultures view authority and leadership.
- Conflict Resolution: Managing disagreements in culturally diverse teams.
- Team Dynamics: The challenges of collaboration among people from different cultural backgrounds.
8. Ethics in Global Business
- Ethical Challenges:
- Corruption, bribery, and human rights issues in foreign markets.
- Environmental concerns and sustainability practices.
- Corporate Social Responsibility (CSR): The commitment of businesses to contribute positively to society, especially in the regions they operate in.
- Ethical Decision-Making Models: Guidelines for making ethical decisions in complex international business environments.
9. Risk Management in Global Business
- Types of Risks:
- Political risks (government instability, expropriation).
- Economic risks (exchange rate fluctuations, inflation).
- Legal and regulatory risks (changes in laws, trade restrictions).
- Mitigating Risks:
- Political risk insurance.
- Hedging against currency risk.
- Diversifying operations and markets.
- Crisis Management: Developing strategies to respond to global crises like natural disasters, pandemics, or financial collapses.
10. Global Business Trends
- Technological Advancements: The role of technology in connecting global markets, such as e-commerce, artificial intelligence, and automation.
- Sustainability: Growing demand for sustainable business practices and products.
- Emerging Markets: Focus on business opportunities in developing countries like China, India, and Brazil.
- Global Workforce: Managing virtual teams and handling labor issues across different cultures and regulatory environments.
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