16 Questions
What is the primary difference between efficiency and effectiveness?
Efficiency focuses on doing things right, while effectiveness focuses on doing the right things
What is the primary characteristic of a multinational company that follows a transnational organization model?
Eliminates artificial geographical barriers
In Hofstede's dimensions, what does 'power distance' refer to?
The degree to which people in a country accept unequal distribution of power in institutions and organizations
What is the primary characteristic of a global corporation?
Centralizes its management and other decisions in the home country
In Hofstede's dimensions, what does 'uncertainty avoidance' measure?
The degree to which people in a country prefer structured or unstructured situations and whether they are willing to accept risks
What characterizes a multidomestic corporation?
Decentralizes management and other decisions to the local country where it is doing business
What is the term used to describe a firm's engagement in social actions because of its obligation to meet certain economic and legal responsibilities?
Social responsiveness
Which cognitive bias describes the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known?
Hindsight bias
What type of decisions are based on feelings/emotions according to the text?
Affect-Initiated decisions
What describes when decision makers fixate on initial information as a starting point and then fail to adequately adjust for subsequent information?
Anchoring effect
What is the term used to describe a firm's intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society?
CSR-corporate social responsibility
Which aspect of intuition involves decisions based on skills, knowledge, and training?
Cognitive-based decisions
What term is used to describe when decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events?
Representation bias
What describes the tendency for decision makers to remember events that are the most recent and vivid in their memory?
Availability bias
What type of decisions involve subconscious mental processing according to the text?
Subconscious mental processing
What aspect of intuition involves decisions based on values or ethics?
Values or Ethics-based decisions
Test your knowledge of organizational structures, global business strategies, and the concepts of efficiency and effectiveness. Explore topics such as planning, organizing, controlling, leading, and the distinctions between global and multinational companies.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
