Exam 2: The Global Business Environment

 The members of a particular society in Rhodia often find it hard to adapt themselves to the changing situations. Therefore, they prefer to follow standard rules and procedures in an attempt to reduce the occurrences of any anxiety-causing situations. Which of the following of Hofstede's social dimensions is described in this example?

 To remain competitive, companies

 The Uruguay Round is noteworthy because it created the successor to GATT.

 As a delegate to the World Trade Organization, Kate stated during negotiations that the same rules and regulations that applied to another country's domestic firms must also be applied to her country's firms operating in that country. Kate was invoking the

 Which of the following demonstrates the interconnectedness of the global economy? 

 Explain the features of the European Union.

 How do successful business leaders respond to the changing business environment?

 Which of the following has the least direct influence on a firm? 

 Identify the country that is represented by NAFTA.

 Globalization has presented challenges including the emergence of new, powerful competitors in many industries.

 Define task environment and its dimensions.

 Which of the following is the best example of Hofstede's long- versus short-term orientation dimension?

 In contrast to the dimensions of the task environment, the general environment has the ability to exert a greater and more immediate influence over a firm.

 Sam, the top manager of TechPark, decides to expand his business globally and creates a new market in Erbia, a neighboring country. Eventually, the company faces issues related to unskilled labor and poor resource positions/infrastructure, such as unreliable highway systems and improper communication networks. From this scenario, it can be inferred that Sam failed to focus on the _____ dimension of the external environment affecting business.

 The president of a small nation is promoting and nurturing coffee agriculture because he believes it is the product at which the country can be the most efficient producer. He is operating under

 Of the three main principles of GATT, the most favored nation principle meant that

 Successful business leaders not only respond to changes in the global business environment but also try to influence it.

 The sociocultural dimension of a firm's environment includes interest rates of all the countries where it sells its products and services.

 Which of the following statements is true about businesses and their leaders?

 A firm's task environment includes