GMU business 200 final exam

A stakeholder's role in a company is best described as

One of influencing the company and being influenced by the company

Entrepreneurs value all but which one of the following?

A complex regulatory framework

Which one of the following is not a reason for Tesco's decline?

Competition from Wal-mart

Which of the following is a for-profit organization?

an organization thats goal is to make a profit for the owners

Which one of the following is a negative aspect of FDI from the perspective of a developed country whose companies outsource manufacturing

The country loses manufacturing jobs

Which of the following is not key for the success of fast fashion

Corporate social responsibility

Which one of the following most accurately characterizes the globalization of markets in consumer products

Adapting products to national markets, based on local preferences

Spillover effects of FDI benefit host countries because

The local workers can absorb technology from the foreign investor's operations

Which one of the following describes the economies of poor developing countries

Focus on primary production, notably agriculture and natural resources

Which one of the following is a 'pull' factor encouraging companies to internationalize?

Large potential markets in emerging economies

The primary cause of Volkswagon's malfeasance was which of the following

Competitive pressure

Labor rights include all but which one of the following

Right of employees to have a representative on the board of the firm

Which of the following is not a negative outcome of the scandal

Increased corporate visibility

Which of the following is an 'absolute' right?

The right not to be tortured

Corporate social performance theory concerns which of the following

The company's social responses in different contexts

Which one of the following comes within the category of economic and social rights

The right to work

Which of the following is not one of VW's brands

Lancia

Environmental, social and governance (ESG) reporting is mandatory in all but which one of the following countries

the United States

Which of the following is not a source of energy for Uruguay

Nuclear

Which of the following is included in the Rio principles

There is a link between reducing poverty and sustainable development

The Kyoto Protocol set a precedent by mandating which of the following

Setting limits to GHG emissions in developed countries

Nuclear power raises concerns for all but which one of the following reasons

The fact that nuclear power has high levels of emissions

The concept of the 'global commons' can be defined as which of the following

The common environment shared by all on the planet

The idea behind the chapter "Waste equals food" is that

Humans must design processes such that their waste can be the food (raw materials) for other processes

The cradle-to-grave model rests on the design principle that

Products are designed, used, and then disposed of

Adam Smith, Wealth of Nations

Karl Marx and Friedrich Engels, The Communist Manifesto

Rachael Carson, Silent Spring

All of the following are true about the above books EXCEPT

Most people believe that the adherents of these ISMs can work together

A material that has been down cycled is

low-grade

According to Cradle to Cradle, the two kinds of material flows on the planet are

Biological and technical

"All sustainability is local." Fulfilling sustainability therefore requires all of the following EXCEPT:

Standardizing and relying on economies of scale to pay for expensive environmentally friendly practices

The Industrial revolution began with

The cottage textile industry in England

All of the following are true about Ford River Rouge plant EXCEPT

Its polluted state was so bad by 2000 that Ford Motor Company decided to shut it down

Eco-efficiency is

reducing the amount of waste and pollution we produce

McDonough questions the concept of efficiency because

Efficiency is often not effective

The first step to eco-effectiveness is

Get free of known culprits

what is not an example of nutrient flows

Urban expansion in the west

The transformative moment in the environmental movement was

Rachel Carson's Silent Spring (1962)

According to Cradle to Cradle, modern industrial society

Is causing de-evolution; simplification of natural diversity on a mass scale

Eco-efficiency is "less bad" but "no good" because

It reduces pollution but still pollutes

Which of the following is not part of McDonald's original strategy:

standardization

fast service

moderate prices

Moderate prices

All but which one of the following is taking place in language communication

The unrivalled dominance of English on the internet globally

Which of the following business functions is subject to a system based on Islamic law for application in Islamic contexts

Banking and finance

McDonald's was a major investor in which fast-casual restaurant

Chipotle

Organizational culture is exemplified in all but which of the following ways

Application of employment law

Based on the case, which of the following is not a criticism of Mcdonalds' employment practices

lack of health insurance

How is the worker envisaged in Taylor's scientific management

a pair of hands

Sweden is committed to all of the following except

market forces

GDP is defined as

the value of the total economic activity produced in a country in a single year

what impact does high inequality have on economic growth

it adversely affects the sustainability of growth

How can MNEs promote sustainable growth in the economies where they operate

By adopting a CSR approach to social well-being in each location

A current account surplus indicates which of the following

a country exports more than it imports

Which of the following was not used to help Sweden emerge from the 1991 financial crisis

increase in taxes

Which one of the following factors promotes economic growth

Government fostering technology-focused entrepreneurs

The Wallenburg family owns the following companies except

APak

Which one of the following best describes China's economic model

Market freedoms in the context of ultimate political controls

Societal factors

make sure the place you are selling to have a need for your product

Legal and regulatory factors

make sure the product you are selling is a legal product to sell

Financing availability

have the money to support your business

Infrastructure

have factories and transportation and all other means of productions you need established

what is the function of Marketing

advertising

what is the function of Finance and accounting

manage money

what is the function of Human Resources management

hire and fire, deal with internal issues

what is the function of operations

day to day activities

what is the function of research and development

develop new ideas and products

what are the three global ways enter an economy

FDI

import/export

production under license

import/export

very low risk and low cost. Buy/make something in one country and ship it to be sold in another

Production under license

franchising, you get to buy into the brand. Marketing is easy. Outsourcing is another production under license. Bud light producing Sapporo in US plants

FDI

foreign direct investment. Greenfield or acquisition

Greenfield venture

Pros are complete control, govt incentives, avoid corporate culture clash

Cons are takes a long time to be profitable and high at risk capital

Acquisitions

pros are buying the assets without purchasing the liabilities

cons possibly buying someone else's issue. they must have failed for a reason

Industrialization

the spread of technology and the transition from agrarian to service societies

Developed countries

industrialization is mature. They have gone from agrarian to manufacturing to service

Developing countries

from agrarian to manufacturing. have not yet reached service industry yet

BRIC countries

Brazil russia India China

Ethics

focuses on systems of values by which judgments of right and wrong behavior are made

Utilitarian ethics

the greatest good for the greatest amount of people

Kantian ethics

the greatest good for all

Ethical relativism

the comparison of ethical standards in two different countries. bribing may be common place in one country, but strictly outlawed in another

High context cultures

a lot of the communication is non-verbal and is interpreted through body language ex. Japan

Low context cultures

most communication is spoken verbal and easily interpreted. United States

Hofstedes cultural dimensions

power distance

individualism vs collectivism

uncertainty avoidance

masculinity vs femininity

long term vs short term orientation

Power distance is

how far away I feel from the boss

individualism vs collectivism

good for me vs the good of the whole

uncertainty avoidance

avoiding risk and doing what you have always been doing

masculinity vs femininity

nurturing and passive: feminine

Agressive and full frontal: masculine

Long term vs short term orientation

focus on the short term life of your country or the greater overall picture

why do businesses globalize

new customers, competition, cost reductions, following global customers

push vs pull factors

push: factors that make you want to leave a country

pull: factors that pull you towards expanding into another country

Hong Kong is

A special administrative region of China

Which one of the following descriptions comes closest to justifying China's authoritarian rule?

Directing development from the top benefits all in the end

Democracy rests on all but which one of the following?

Selected Answer: A written constitution

Hong Kong is led by a...?

Chief executive

The rule of law is characterized by which one of the following?

The law is above ruler and ruled

Hong Kong is a convenient gateway for western and Chinese businesses for all of the following except...:

Its natural resources

What is the risk to democracy in a country when economic elites capture political power?

The people will feel cut off from the political process

Which one of the following best defines the nation-state?

Authoritative institutional framework for governing a defined territory

Which one of the following describes the distinction between litigation and arbitration?

Litigation involves the courts of a country whereas arbitration does not

Which one of the following is a matter of criminal law?

Theft

Which one of the following characterizes a civil law system?

Codified law

The function of the European Court of Justice is best described by which one of the following?

Interpretation of EU law

All but which one of the following could pursue a case of product liability?

A buyer of a vacuum cleaner that fails to work