CH. 5 & 16 & 6

ch. 5 ethics, corporate responsibility and sustainability

Milton Friedman has the shareholder theory - the only responsibility of a corporation is to make money for shareholders, any other motive is stealing…

Ethics - the code of moral principles and values that governs the behaviros of a person or group with respect to what is right

Normative Ethics - the field of ethics concerned with oru asking how SHOULD we live and act

Business Ethics - the area pf applied ethics that focuses on real world situations and the context and environment in which transactions occur

Individual level - laws, and sometimes unwritten societal norms and values, shape the local environment within which individuals act and conduct business influenced by family, community, peers, local and national culture, society, religion.

Ethical Dilemma - Situations and predicaments in which there is not an optimal or desired choice to be made two options, neither of which solves an issue or delivers and opportunity that is ethical.

Terminal Values - desired goals, objectives, or end states that individuals wish to pursue. Example: freedom, security, pleasure, social recognition, friendship, accomplishment.

Instrumental Values - the preferred means of behavior used obtain desired goals

CHAPTER 16

External communication, regards communication from individuals within the organization, to those outside the organization which may include

• Stakeholders

• Customers

• Suppliers

Oral Communication consists of all messages or exchanges of information that are spoken.

Managers effectiveness as ______ will determine how well they understand and respond to others and can change the organization in response to their feedback

= LISTENER

Decoding is the process where the receiver of a message interprets the symbols sent by the sender, assigning meaning to them, while "encoding" is the process of translating ideas into symbols, which is done by the sender initiating communication. 

In ______ feedback, the receiver provides nonevaluative information to the communicator = Informational

Which of the following is described as a manager s key to corporate reputation management?

Employees

Management communication is about the movement of information and the skills that facilitate it speaking, writing, listening, and processes of critical thinking

Noise is factors that distort message clarity

CHAPTER 6

1. James is the owner of a small toy manufacturing company. James primarily focuses on buying and selling of products using the Internet. Which of the following best describes James business practice?

   E-Commerce

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2. The worldwide phenomenon whereby the countries of the world are becoming more interconnected and where trade barriers are disappearing refers to

GLOBALIZATION : refers to the increasing integration of economies, cultures, and societies around the world, facilitated by the free flow of goods, services, capital, information, and people across borders

3. According to Hofstede, which of the following is an implication of high collectivism?

   hiring and promotion takes in-group into consideration

4. According to Hofstede, an implication of low uncertainty avoidance is…

   Weak loyalty to companies

   • Cultures with low uncertainty avoidance are more comfortable with ambiguity and change, which can lead to less loyalty to a single company as they are more open to new opportunities and experiences

5. In a country with high uncertainty avoidance according to Hofstede's Dimension of Culture written contracts would be avoided because they would be considered to be rude

   False. In a country with high uncertainty avoidance, written contracts would not be avoided; in fact, they would be highly valued as a way to minimize ambiguity and ensure predictability in agreements

6. In Hofstede's dimensions of National Culture model, 'Masculinity' refers to:

   the overall tendency towards competitiveness and achievement in a society

   • Key points about Masculinity in Hofstede's model:

     • Focus on achievement: Masculine cultures emphasize assertive behavior, competition, and material success.

     • Distinct gender roles: In highly masculine cultures, gender roles are often clearly defined with men expected to be assertive and focused on work, while women are expected to be more caring and home-oriented.

     • Contrast with Femininity: "Feminine" cultures in Hofstede's model tend to prioritize cooperation, quality of life, and relationships over individual achievement. 

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7. Which of the following leadership profile describe degree to which the leader is self-centered and uses a face-saving approach?

   answer: self-protective:

   • This style is characterized by a focus on personal safety and security, often prioritizing status and avoiding conflict. They may be seen as self-centered, face-saving, and conflict-inducing. 

   other choices:

   Charismatic:

   These leaders inspire and motivate others through their vision and personality. While they may be confident, their focus is typically on the collective good and achieving a shared goal, not primarily on their own needs

   Team-oriented:

   This style emphasizes collaboration and cooperation, fostering a sense of unity within the group. 

   Humane-oriented:

   This leadership style prioritizes the well-being and needs of employees, creating a supportive and caring work environment. 

   Autonomous leadership:

   This style emphasizes independence, autonomy, and individualistic attributes. Leaders with this style are seen as taking their own initiative, making decisions on their own, and prioritizing personal goal

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8. Which of the following remains the world s dominant religion, representing around 31% of the world s population?

   • christianity

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9. Which of the following has contributed most to globalization?

   NOT:

   the world trade organization

   • •providing the mechanism for countries to negotiate trade agreements, monitoring such agreements, providing the means to handle trade disputes, providing training to less-developed countries to implement agreements.

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10. Which of these occur when two or more companies from different countries enter into an agreement to conduct joint business activities?

    • strategic alliances

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11. ______ refers to deliberate efforts of a country or company to invest in another country through the form of ownership positions in companies in another country.

    Foreign Direct Investment (FDI)

    • Occurs when a company invests in another country by constructing facilities and buildings in that country

      Can also occur through mergers and acquisitions, whereby a multinational company fully acquires a company in another count

    • ADVANTAGES: Allows company to be closer to customers, Avoid tariffs, Access to local expertise or lower labor costs

    • DISADVANTAGES: Most capital intensive, Exposed to Political Risk (the degree to which political decisions can impact a business’s ability to survive in that country), Difficult to coordinate

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12. Airplane manufacturers Boeing and Airbus both have plane parts and components manufactured by companies all over the world before assembling their final planes in their own factories. What is this an example of?
    

    • Outsourcing: refers to the practice of a company hiring a third-party supplier to produce goods or services that would normally be made internally.

10. Because tariffs are usually passed along to the consumer in the form of higher prices, imposing tariffs on imported goods gives domestic companies a price advantage and protects them from foreign competition.

    True.

    • When tariffs are imposed on imported goods, the added cost is usually passed on to consumers in the form of higher prices, which effectively makes domestic products more competitive and protects them from foreign competition by giving them a price advantage

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    11. Which of the following leadership profile describe degree to which the leader reflects independent and individualistic leadership, according to the GLOBE project?

        Autonomous leadership:

        This style emphasizes independence, autonomy, and individualistic attributes. Leaders with this style are seen as taking their own initiative, making decisions on their own, and prioritizing personal goal
        

    12. According to the GLOBE Project, the country cluster that is low on charismatic leadership style is the Middle East. 

        • The GLOBE Project research indicates that while most cultures value charismatic leadership, the Middle East cluster tends to score lower in this style compared to other regions like Anglo, Germanic Europe, and Latin America. 

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    13. Examples of low-rigor training include classroom language training, case studies, and sensitivity training" is False

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14. ow-rigor training typically refers to training methods that involve less hands-on practice or real-world application, and often focus on theoretical knowledge, which aligns with classroom language training, case studies, and sensitivity training. Which dimension of cultural intelligence is based on the ability of the individual to exhibit the appropriate forms of verbal and nonverbal behaviors when interacting with people from another culture?

Behavioral dimension:

This refers to the actual actions and behaviors an individual takes when interacting with people from different cultures, including how they adjust their verbal and nonverbal communication to be culturally appropriate

OTHER ANSWERS NOT CORRECT:

• Cognitive dimension:

  This focuses on an individual's knowledge and understanding of different cultures, including their customs, values, and beliefs. 

• Meta-cognitive dimension:

  This refers to an individual's ability to think about their own thinking and cultural awareness, allowing them to adapt their approach based on the situation. 

• Motivational dimension:

  This relates to an individual's level of interest and willingness to engage with people from different cultures. 

• Societal dimension:

  While not always explicitly mentioned in the context of cultural intelligence, this could refer to an individual's understanding of broader societal factors that influence cultural behavior. 

15. People who live in societies with low individualism are seen as being part of a wider group, known as the in-group.

True. Collectivism vs. Individualism:

In societies with low individualism (high collectivism), people identify strongly with their group and prioritize the group's goals and well-being over their personal achievements.

• In-group concept:

  This "in-group" represents the people within the collective that individuals feel a strong sense of belonging and loyalty towards

16. Which of the following defines those markets in nonenveloped countries that present tremendous potential for multinationals?

• Emerging markets

"Emerging markets" refers to countries that are transitioning from developing to developed economies, and are considered to have significant potential for growth and opportunity for multinational companies