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What describes parochialism in a global business context?

  • Viewing the world solely through one's own perspective. (correct)
  • Adopting a flexible attitude towards global work environments.
  • Valuing others' customs while promoting one's own.
  • Understanding and accepting diverse cultural practices.
  • Which attitude suggests that the home country has the best work approaches?

  • Sociocentric Attitude
  • Polycentric Attitude
  • Geocentric Attitude
  • Ethnocentric Attitude (correct)
  • What is the primary goal of the General Agreement on Tariffs and Trade (GATT)?

  • To seek the reduction or elimination of trade barriers. (correct)
  • To provide financial aid to developing countries.
  • To promote sustainable economic growth globally.
  • To establish a unified currency among member countries.
  • Which organization is primarily concerned with sustainable economic growth and employment for its members?

    <p>Organization for Economic Co-operation and Development (OECD)</p> Signup and view all the answers

    What characterizes a geocentric attitude in management?

    <p>Believing that global best practices should be used.</p> Signup and view all the answers

    Which of the following is a goal of the North American Free Trade Agreement (NAFTA)?

    <p>To eliminate tariffs and encourage free trade.</p> Signup and view all the answers

    Which of the following groups is known for governing trade relationships in Southeast Asia?

    <p>Association of Southeast Asian Nations (ASEAN)</p> Signup and view all the answers

    Which of the following countries is NOT a member of the European Union (EU)?

    <p>Norway</p> Signup and view all the answers

    What is the primary purpose of the International Monetary Fund (IMF)?

    <p>To facilitate international trade and promote economic growth</p> Signup and view all the answers

    What distinguishes a Multi-domestic Corporation (TNC) from a Global Company?

    <p>A TNC eliminates structural divisions related to geographic barriers</p> Signup and view all the answers

    Which method involves giving another organization the right to make or sell products using its own technology?

    <p>Licensing</p> Signup and view all the answers

    What type of economic system is characterized by resources being primarily owned and controlled by the private sector?

    <p>Market economy</p> Signup and view all the answers

    What is a key risk associated with investing in unstable countries?

    <p>Loss of investment</p> Signup and view all the answers

    What does Hofstede’s framework primarily focus on?

    <p>Cultural dimensions of national behavior</p> Signup and view all the answers

    Which of the following best describes a Joint Venture?

    <p>A partnership forming a separate entity for a specific business purpose</p> Signup and view all the answers

    What challenge does globalization present for leaders in diverse cultural environments?

    <p>Embracing significant cultural differences</p> Signup and view all the answers

    What is a major aspect of the Cultural Environment that influences organizational behavior?

    <p>Shared values and attitudes within a nation</p> Signup and view all the answers

    Which of the following accurately describes global sourcing?

    <p>Purchasing materials or labor from the cheapest global sources</p> Signup and view all the answers

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