Exam 3: Managing in a Global Environment

Titles, rank, and status are highly respected in high power distance societies.

The European Commission is the executive body of the EU.

A command economy is one in which resources are primarily owned and controlled by the private sector.

An organization decides to go international. Which of the following steps should it take to do so with a minimal investment?

Refer to the scenario below to answer the following questions. Understanding Cultural Differences-GLOBE (Scenario) John has done well in his company. In only five years, he has risen to the position of divisional manager. However, he knows that in order to rise to the level of senior management, he needs to spend some time managing abroad in his company's foreign subsidiaries. Although he has travelled to foreign countries on business and vacations, he has never lived abroad, and he wonders what cultural differences he would find. He is considering applying for a new foreign-based position, but he first wants to learn about some of the basic differences between managing in Canada and managing in a foreign country. John researched the topic of international management and found many helpful facts about various countries and their people. But perhaps the most interesting model he found was the GLOBE framework for assessing cultural differences. Using data from thousands of managers in 62 countries, the GLOBE research team identified several dimensions on which national cultures differ. As John reviewed the GLOBE rankings, he began to appreciate why managers on foreign assignments need to be incredibly sensitive to cultural differences! -John learned that the cultural dimension of __________ measures the degree to which a society relies on social norms and procedures to alleviate the unpredictability of future events.

__________ attitude is characterized by parochialism.

Canada ranks highest in which of the following Hofstede cultural dimensions?

Through the creation of the EU, each member country now has increased border controls, nationalist policies, and protected industries.

Refer to the scenario below to answer the following questions. A Speech on Trade Alliances (Scenario) As manager of the international department for your company, you have been asked by the local Chamber of Commerce to deliver a speech on global trade. The presentation should include an overview of the world's major trade alliances and mechanisms that promote global trade. The Chamber president has also asked you to comment on a recent quote by a local politician, who stated: "NAFTA has been a bad deal for Canada and it continues to weaken our economy." As you review your notes, you wonder how you will fit all the information into the allotted half-hour presentation time! -You also plan to discuss other regional trading alliances such as the one in Southeast Asia called __________.

describe the Hofstede's five dimensions of national culture.

McCain Foods of New Brunswick, Canada, is the world's largest producer of frozen french fries. They sell frozen food products in the United States, Britain, France, Germany, and more than 100 other countries around the world. For McCain Foods, __________ is the home country, and __________ is a host country.

A joint venture is a specific type of __________.

The General Agreement on Tariffs and Trade (GATT) was signed in 1992 to create the EU.

According to the text, which of the following is a typical definition of a multinational corporation?

__________ is a national culture attribute describing the extent to which societal values are characterized by assertiveness and materialism.

Refer to the scenario below to answer the following questions. Understanding Cultural Differences-GLOBE (Scenario) John has done well in his company. In only five years, he has risen to the position of divisional manager. However, he knows that in order to rise to the level of senior management, he needs to spend some time managing abroad in his company's foreign subsidiaries. Although he has travelled to foreign countries on business and vacations, he has never lived abroad, and he wonders what cultural differences he would find. He is considering applying for a new foreign-based position, but he first wants to learn about some of the basic differences between managing in Canada and managing in a foreign country. John researched the topic of international management and found many helpful facts about various countries and their people. But perhaps the most interesting model he found was the GLOBE framework for assessing cultural differences. Using data from thousands of managers in 62 countries, the GLOBE research team identified several dimensions on which national cultures differ. As John reviewed the GLOBE rankings, he began to appreciate why managers on foreign assignments need to be incredibly sensitive to cultural differences! -John is a high achiever who has a "can-do" attitude and believes in taking initiative. As a manager, he focuses extensively on performance improvement and he rewards excellence. If John wants to transfer to a country with a similar performance orientation, he should choose __________.

Which of the following is a multilateral trading system formed in 1995?

Refer to the scenario below to answer the following questions. First Business Trip to Asia (Scenario) Jeff Elliott is on a flight across the Pacific and is excited about his first business trip to Asia. Born and raised in Alberta, Jeff is a manager for a rapidly growing Calgary-based company. His current mission is to scout out potential locations in Asia and develop an international expansion strategy for his company. There are many options, including maintaining the business's head office in Canada and sending over company representatives when necessary or developing a separate company in Asia and hiring locals to manage the business. Jeff's trip will take him to Japan, South Korea, Hong Kong, Taiwan, and China. He is looking forward to learning more about the business practices and customs of each country and is not too worried about the fact that he only speaks English. Jeff has heard that English is considered the main international business language, and he anticipates that most Asians will be able to speak it. -All five Asian countries that Jeff will be visiting ranked very high on which one of Hofstede's cultural dimensions?

The Maastricht Treaty led to the creation of the __________.

Which of the following is a trading alliance of Southeast Asian nations?