Podcast
Questions and Answers
Which of the following best describes cultural intelligence?
Which of the following best describes cultural intelligence?
Which ethical view promotes the idea that ethical behavior benefits the greatest number of people?
Which ethical view promotes the idea that ethical behavior benefits the greatest number of people?
What is a characteristic of ethnocentric attitudes in management?
What is a characteristic of ethnocentric attitudes in management?
Which of the following statements correctly defines ethical behavior?
Which of the following statements correctly defines ethical behavior?
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What is a key feature of polychromatic cultures?
What is a key feature of polychromatic cultures?
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Intercultural competencies are primarily designed to help individuals:
Intercultural competencies are primarily designed to help individuals:
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What best describes masculinity-femininity dimensions in cultures?
What best describes masculinity-femininity dimensions in cultures?
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Which management style respects local knowledge and autonomy in foreign operations?
Which management style respects local knowledge and autonomy in foreign operations?
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What does the concept of Cultural Relativism suggest about ethical behavior?
What does the concept of Cultural Relativism suggest about ethical behavior?
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Which view states that ethical behavior should treat people fairly and justly?
Which view states that ethical behavior should treat people fairly and justly?
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What does the term 'Immoral Manager' refer to?
What does the term 'Immoral Manager' refer to?
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What is meant by Ethical Imperialism?
What is meant by Ethical Imperialism?
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What does Ethical Intensity reflect?
What does Ethical Intensity reflect?
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Which management style is characterized by a conscious choice to behave unethically?
Which management style is characterized by a conscious choice to behave unethically?
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What does the term 'Ethics Mindfulness' refer to?
What does the term 'Ethics Mindfulness' refer to?
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Which ethical framework focuses on the personal rules for making ethical decisions?
Which ethical framework focuses on the personal rules for making ethical decisions?
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What does cultural intelligence primarily focus on in a global work environment?
What does cultural intelligence primarily focus on in a global work environment?
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Which of the following best describes ethical behavior in international business?
Which of the following best describes ethical behavior in international business?
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In global management, which approach emphasizes adaptability to varying cultural contexts?
In global management, which approach emphasizes adaptability to varying cultural contexts?
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Which of the following is an essential component of ethical decision-making in a global context?
Which of the following is an essential component of ethical decision-making in a global context?
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What skill is vital for effective intercultural communication in global business?
What skill is vital for effective intercultural communication in global business?
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Which management style is often necessary for successful global operations?
Which management style is often necessary for successful global operations?
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Which of the following practices is associated with ethical behavior in business?
Which of the following practices is associated with ethical behavior in business?
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What does sustainable development aim to achieve in a global business context?
What does sustainable development aim to achieve in a global business context?
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Study Notes
Intellectual Capital
- Shared knowledge of a workforce
Globalization
- The trend of businesses and technologies spreading throughout the world
Shamrock 3
- Full-time workers, contract workers, and part-time workers
Portfolio Worker
- Someone with up-to-date skills, able to move between jobs
Productivity
- The quantity and quality of work performance
Performance Effectiveness
- The output measure of goal accomplishment
Performance Efficiency
- An input measure of resource cost associated with goal accomplishment
Sustainable Innovation
- When a business creates new products and production methods that reduce environmental impacts
Specific Environment
- Also called task environment; the actual organizations, committees, groups and individuals a business interacts with
Value Creation
- The creation of value for satisfying stakeholder needs
Strategic Positioning
- Helping an organization do the same things as other businesses but in different ways
Environmental Uncertainty
- A lack of information for the external environment of a business or organization
Manager
- A person who supports, activates, and is responsible for the work of others
Top Manager
- Guides the performance of the organization as a whole
Middle Manager
- Managers who report to top managers, in charge of large divisions
Line Manager
- Directly contribute to producing the organization’s goods or services
Staff Manager
- Use special technical expertise to advise and support line workers
Functional Managers
- Responsible for one area
General Managers
- Responsible for complex, multifunctional units
Admins
- A manager in a public organization
Accountability
- The requirement to show performance results to a superior
Effective Manager
- Helps others achieve high performance and satisfaction at work
Quality of Work Life
- The overall quality of experiences in the workplace
Management
- The process of planning, organizing, leading, and controlling the use of resources to accomplish performance goals
Planning
- The process of setting objectives and determining what should be done to accomplish them
Organizing
- Arranging tasks, people, and resources to accomplish the work
Leading
- Inspiring people to work hard to achieve high performance
Controlling
- Measuring performance and taking action to ensure desired results
Information Roles
- How a manager processes and exchanges information
Interpersonal Roles
- How a manager interacts with other people
Decisional Roles
- How a manager uses information in decision making
Social Capital
- A capacity to get things done with the help of others
Learning
- A change in behaviour resulting from experience
Lifelong Learning
- Continuous learning from daily experiences
Skills
- The ability to transfer knowledge into performance
Technical Skills
- The ability to use expertise in order to perform special tasks
Human Skills
- The ability to cooperate and work with others
Conceptual Skills
- The ability to think critically and analytically
Managerial Competency
- A skill-based capability that contributes to high performance results
Motion Study
- The science of reducing a task to its most basic physical motions
Bureaucracy
- A rational and efficient form of organization founded on logic, order, and legitimate authority
Hawthorne Effect
- The tendency of persons singled out for special attention to perform as expected
Human Relations Movement
- Suggested that managers using good human relations will achieve productivity
Organizational Behaviour
- The study of individuals and groups in organizations
Need
- A physiological or psychological deficiency that a person wants to satisfy
Theory X
- People hate work
Theory Y
- People love work
Self-Fulfilling Prophecy
- Occurs when a person acts in ways that conform to another's expectations
Management Science and Operations Research
- Use quantitative research and applied mathematics to solve problems
Operations Management
- The study of how organizations produce goods and services
System
- A collection of interrelated parts working together for a purpose
Subsystem
- A smaller component of a larger system
Open System
- An open system interacts with its environment and transforms resource inputs into outputs
Contingency Thinking
- Tries to match management practices with situational demands
Total Quality Management
- Managing with an organization-wide commitment to continuous improvement, product quality, and customer needs
Continuous Improvement
- Involves always searching for new ways to improve work quality and performance
ISO Certification
- Indicates conformity with a rigorous set of international quality standards
Knowledge Management
- The process of using intellectual capital for competitive advantage
Learning Organization
- Continuously changes and improves
High-Performance Organization
- Consistently achieves excellence while creating a high-quality work environment
Evidence-Based Management
- Involves making decisions based on hard facts about what really works
Global Economy
- Resources, markets, and competition that are worldwide in scope
World 3.0
- A world where nations cooperate in the global economy while respecting each other's cultures
Global Management
- Involves making operations in more than one country
Global Manager
- Culturally aware and informed on international affairs
Global Business
- Conducts commercial transactions across national boundaries
Global Sourcing
- Materials or services are purchased around the world for local use
Licensing Agreement
- A local firm pays a foreign firm for rights to make or sell its products
Foreign Direct Investment
- Building, buying all or part ownership of a business in another country
Greenfield Investment
- Builds an entirely new operation in a foreign country
Political Risk
- The potential loss in value of a foreign investment due to instability and political changes in the host country
Political Risk Analysis
- Tries to forecast political disruptions that can threaten the value of a foreign investment
World Trade Organization
- Member nations agree to negotiate disputes about trade agreements and tariffs
Most Favored Nation Status
- Gives a trading partner most favorable treatment for imports and exports
Protectionism
- A call for tariffs and favorable treatment to protect domestic firms from foreign competition
Global Corporation
- A multinational business with extensive operations in more than one foreign country
Transnational Corporation
- An MNC that operates worldwide on a boarder less basis
Corruption
- Involves illegal practices to further one's business interest
Sustainable Development
- Meets the needs of the present without hurting future generations
Culture
- A shared set of beliefs, values, and patterns of behavior common to a group of people
Culture Shock
- The confusion and discomfort a person experiences when in an unfamiliar culture
Ethnocentrism
- The tendency to consider one's culture superior to others
Cultural Intelligence
- The ability to accept and adapt to new cultures
Low-Context Culture
- Emphasizes communication via spoken or written word
High-Context Culture
- Relies on nonverbal and situational cues as well as spoken or written communication
Monochromatic Cultures
- People tend to do one thing at a time
Polychromatic Cultures
- Time is used to accomplish many different things
Proxemics
- How people use space to communicate
Ecological Fallacy
- Assumes that a generalized cultural value applies equally well to all members of the culture
Masculinity-Femininity
- The degree to which a society values assertiveness and materialism
Comparative Management
- Studies how management practices differ among countries and cultures
Ethnocentric Attitudes
- Managers believe the best approaches are found at home and tightly control foreign operations
Polycentric Attitudes
- Respect local knowledge and allow foreign operations to run with substantial freedom
Geocentric Attitudes
- Managers are high in cultural intelligence and take a collaborative approach to global management practices
Intercultural Competencies
- Skills and personal characteristics that help us be successful in cross-cultural situations
Ethical Behavior
- Right or good in the context of a governing moral code
Terminal Values
- Preferences about desired end states
Instrumental Values
- Preferences regarding the means to desired ends
Utilitarian Views
- Ethical behavior delivers the greatest good to the greatest amount of people
Individualism View
- Ethical behavior advances long-term self-interests
Moral Rights View
- Ethical behavior respects and protects fundamental rights
Justice View
- Ethical behavior treats people fairly and justly
Procedural View
- The way rules are applied are concerned that they are applied fairly
Distributive Justice
- Concerned that people are treated the same regardless of their personal characteristics
Interactional Justice
- The degree to which others are treated with dignity and respect
Communicative Justice
- The degree to which an exchange or a transaction is fair to all parties
Cultural Relativism
- Suggests that there is no one right way to behave, ethical behavior is determined by its cultural context
Universalism
- Suggests that ethical standards apply absolutely across all cultures
Ethical Imperialism
- Imposing one's ethical standards on other cultures
Ethical Dilemma
- A situation that offers potential benefit or gain and is also unethical
Ethics Intensity
- Indicates the degree to which an issue or situation is recognized to pose important ethical challenges
Ethical Framework
- A personal rule for making ethical decisions
Ethical Training
- Seeks to help people understand ethical standards into their daily behavior
Immoral Manager
- Chooses to behave unethically
Amoral Manager
- Fails to consider the ethics of their behavior
Moral Manager
- Makes ethics a personal goal
Ethics Mindfulness
- Enriched awareness that leads to consistent ethical behavior
Social Entrepreneurship
- A mission to solve pressing social problems
Classic View of CSR
- Business should focus on only profits
Socio-Economic View of CSR
- Business should focus on border social welfare as well as profits
Obstructionist Strategy
- Avoids social responsibility and reflects mainly economic priorities
Virtuous Circle
- Occurs when CSR improves financial performance, which leads to more CSR
Defensive Strategy
- Seeks protection by doing the minimum legally required
Accommodative Strategy
- Accepts social responsibility and tries to satisfy economic, legal, and ethical criteria
Proactive Strategy
- Meets all the criteria
Corporate Governance
- The oversight of top management by the BOD
Organizational Structure
- A system of tasks, reporting relationships, and communication linkages
Organization Chart
- Describes the arrangement of work positions within an organization
Formal Structure
- The official structure of the organization
Informal Structure
- The set of unofficial relationships among an organization's members
Departmentalization
- The process of grouping people and jobs into work units
Functional Structure
- Groups together people with similar skills who perform similar tasks
Functional Chimneys Problem
- A lack of communication and coordination across functions
Divisional Structure
- Groups together people who work on the same product
Product Structure
- Groups together people and jobs focused on a single product
Customer Structure
- Groups together people and jobs that serve the same customers or clients
Work Process Structure
- A group of related tasks that collectively creates a valuable work product
Process Structure
- Groups jobs and activities that are part of the same process
Matrix Structure
- Combines functional and divisional approaches to emphasize project or program teams
Team Structures
- Uses permanent and temporary cross-functional teams to improve lateral relationships
Cross-Functional Teams
- Brings together people from different departments
Project Teams
- Convened for a particular task or project and disband once it is completed
Boundaryless Organization
- Eliminates internal boundaries among subsystems and external boundaries with the external environment
Bureaucracy
- Formal authority
Mechanistic Design
- Centralized, with many rules and procedures; a clear-cut division of labor and formal coordination
Organic Design
- Decentralized with fewer rules and procedures; an open division of labor; wide spans of control; and more personal coordination
Adaptive Organization
- Operates with a minimum of bureaucratic features and encourages worker empowerment
Integration
- The love or coordination achieved between subsystems
Chain of Command
- Links all persons with successively higher levels or authority
Span of control
- The number of subordinates directly reporting to a manager
Staff Positions
- Provide technical expertise for other parts of the organization
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Description
Explore fundamental business concepts including intellectual capital, globalization, and value creation. This quiz covers strategic positioning, performance measures, and sustainable innovation to enhance your understanding of modern business dynamics.
