mc1 300-369.docx

300. The performance of businesses in the private sector is conventionally measured on Profitability 301. what key word can be used to describe the basic economic problem that all societies face scarcity 302. What does the Term "third sector" refer to>? Voluntary sector 303. The idea that consume...

300. The performance of businesses in the private sector is conventionally measured on Profitability 301. what key word can be used to describe the basic economic problem that all societies face scarcity 302. What does the Term "third sector" refer to>? Voluntary sector 303. The idea that consumers oversee the economic system because their preferences drive business decisions about what to produce is called Consumer Sovereignty 304. A multinational corp. is defined as carrying out production in more than 1 country 305. BRIC Brazil, Russia, India, China 306. Which would NOT be classified as innovation advance? a company's R&D facility 307. Which would be classified as innovation advance? the launching of a completely new product a modification that improves an existing G&S a major improvement in a production process 308. Tacit knowledge is lost when a company leaves the firm 309. Which can be seen as part of a commercial firm's intellectual property? a brand name such as coke 310. when looking for new ideas to exploit commercially, multinationals may collaborate with rivals, suppliers, or customers 311. which is likely to be the most active innovators a large Chinese producer of smartphones 312. technological advance does NOT guarantee that a business will be successful 313. Information and communications technology (ICT) means that international firms can monitor their employees more closely 314. The development of "the cloud" can result in Big multinationals facing more competition from small and medium sized rivals 315. Schumpeter's concept of "creative destruction" involves.... oligopolists competing through innovation 316. Buying and selling of prods and services from firms in other countries is called Importing and exporting 317. If an employee is citizen of a country where the company HQ is located and work in another country where its operation is located, then the employee is considered to be Expatriate 318. Exporting Direct Exporting Indirect exporting Counter trade (barter) 319. The dimension of culture which refers to the preference of people about unstructured / structured situations is classified as Uncertainty avoidance 320. Global assignments in which employees are sent to understand global operations and are required to have intercultural understanding are called development assignments 321. Global assignments in which employees are sent to other countries for extended projects and return after completing the project are called functional assignments 322. A type of organisation which has operating units in some foreign countries is classified as multinational enterprise 323. Practice by which representatives of unions is given position in Board of directors of company is classified as co-determination 324. Possible global assignments do NOT include transnational assignments 325. classification of international employees includes expats host country nationals third country nationals 326. Global assignments in which employees are sent for strategic jobs having intercultural understanding are classified as strategic assignments 327. If an employee is a citizen of India, working in the US and is employed by a company whose HQ is in Japan, the employee is classified as Third County National 328. factors that affect global human resources management are economic societal cultural 329. Kind of organisation which have integrated worldwide corporate units in different countries are classified as global enterprises 330. if an employee is a citizen of a country where the operation is located but the HQ is in another country then the employee is classified as host country national 331. In global assignments, if an individual is sent to perform some limited tasks and then return home, the assignment is called technical assignment 332. concept which defines inequality among nation explained in cultural dimension is classified as power distance 333. the dimension of culture which defines the extent of people how they act as individual instead of representing as groups is classified as individualism 334. dimension of culture in which masculine values prevails feminism values is classified as masculine / feminine 335. all societal forces that affect values, actions, beliefs of different groups of people are together called culture 336. What is globalisation? viewing the world as an integrated marketplace and a unified global marketplace is being created due to decline in trade barriers / the internet 337. 1830s to late 1800s rise in manufacturing telegraph / telephone growth in rail networks 338. 1980 to present on timeline growth in cross border trade and investments Rise of SMEs and technological advances 339. 1900 -1930 rise of electricity and steel production emergence of MNCs (EU & N. US) 340. COCA-COLA worth 57.3 bn in 2018 61.8 approx. employees 30% sales USA 341. What does Globalisation mean to the consumer?? More Choice Lower prices An increasingly blurred national identity for products and services Impacts on career choice & progression 342. Peters & Waterman (1982) > Regarding culture said... A dominant and coherent set of shared values conveyed by such symbolic means as stories, myths, slogans, legends and anecdotes" 343. Facets of Culture (MORRISON 2008) Outward Expressions > Symbols >Art >Music Values and Beliefs >Religion >Moral Codes Norms >Social Interactions Communication >Language/Nonverbal Comm. 344. Restraint (Hofstede) stands for a society that suppresses gratification of needs and regulates it by means of strict social norms and social rules > religion key influencer 345. Criticism of Hofstede IBM has a strong company culture time dependent results western bias ecological fallacy 346. Subcultures > a minority group in a state where a different national culture is dominant 347. Language and Communication (origins of culture) Instils basic socialisation themes & determines how values and norms are expressed and communicated 348. Origins of Culture 1. NationStates 2. Social and Ethnic Groups 3. Religions 4. Language and Communication 2. 349. HIGH CONTEXT CULTURES- info is conveyed nonverbally, relying on personal understanding of meanings > Asian languages Primary purpose of communication is to form and develop relationships, contextual info is needed 350. LOW CONTEXT CULTURES- information is conveyed predominantly by explicit expression > through words Primary purpose of communication is the exchange of info, facts, and opinion 351. Universalism V Particularism: how people live with respect to relationships and rules 352. Universalism-oriented- People place a high importance on laws, rules, values, and obligations. They try to deal fairly with people based on these rules, but rules come before relationship > CANADA 353. Particularism-oriented- people believe that each circumstance, and each relationship, dictates the rules that they live by. Their response to a situation may change, based on what's happening in the moment, and who's involved. > CHINA 354. Neutral V emotional. objective & instrumental or emotional • In a Neutral-oriented culture people make a great effort to control their emotions. Reason influences their actions far more than their feelings. People don't reveal what they’re thinking/how they’re feeling ○ U.K., Sweden, the Netherlands, Finland, and Germany • In an Emotional-based culture people want to find ways to express their emotions, even spontaneously, at work. In these cultures, it's welcome and accepted to show emotion. Italy, France, Spain, and countries in Latin-America 355. In Individualism-oriented cultures people believe in personal freedom and achievement. They believe that you make your own decisions, and that you must take care of yourself. • The individualism-orientated culture people see themselves first as these cultures tend to ascribe success and blame to the individual ○ U.S., Canada, the U.K, Scandinavia, New Zealand, Australia, and Switzerland. •people believe in personal freedom and achievement. They believe that you make your own decisions, and that you must take care of yourself. • The individualism-orientated culture people see themselves first as these cultures tend to ascribe success and blame to the individual ○ U.S., Canada, the U.K, Scandinavia, New Zealand, Australia, and Switzerland 356. In Communitarianism-oriented cultures people believe that the group is more important than the individual. The group provides help and safety, in exchange for loyalty. The group always comes before the individual. • U.S., Canada, the U.K, Scandinavia, New Zealand, Australia, and Switzerland. 357. Specific vs Diffuse: focus on contract vs whole person 358. Specific orientated – work and personal lives separate. Relationships don’t have much of an impact on work objectives. People can work together without having a good relationship. Boss is boss at the office but a friend at a restaurant, colleagues in some situations and even inferior in others. E.g., US, UK, Switzerland, Germany, Scandinavia, Netherlands. 359. Diffuse orientated – overlap between work and personal life. Good relationship vital to meeting the business objectives and relationships with others will be the same at work or meeting socially. Spend time outside work with colleagues and clients. Boss is boss. Superior in all relationships. E.g., Argentina, Spain, Russia, India, China. 360. Achievement vs ascription: judged on achievement vs status and connections. 361. Achievement orientated – you are what you do. Base worth accordingly. Value performance no matter who you are. Status results from doing. E.g., US, Canada, Australia, Scandinavia 362. Ascription orientated – status based on such things as social position, age, etc. status results from being. E.g., France, Italy, Japan, Saudi Arabia. 363. Sequential vs synchronic: single tasks vs multi tasks 364. Sequential – time in a linear fashion, order comes from separating activities. E.g., Germany, UK, US 365. Synchronic – several events juggled at same time. E.g., Japan, Argentina, Mexico 366. Internal direction vs outward direction: extent to which people believe they control the environment, or the environment controls them 367. Internal direction – focus on controlling the environment. How to work in teams within organisations. E.g., Israel US, Australia, New Zealand, UK 368. Outward direction – focus on living in harmony with nature. At work or in relationships, employees focus their actions on others and avoid conflict where possible. People often need reassurance that they’re doing a good job. E.g., China, Russia, Saudi Arabia 369. A license A license is a legal contract authorising one business to use the confidential business practices \ assets of another business through an outsourcing arrangement for a fee.