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mgt 300 exam 2

mgt 300 exam 2

Description

School: University of Alabama - Tuscaloosa
Department: Management of Technology
Course: Org Theory & Behavior
Professor: Daniel bachrach
Term: Spring 2017
Tags:
Cost: 50
Description: MGT 300 Exam 2: Chapter 5 T/F  What is growing global interdependence called? o Globalization  What is the trend in global sourcing? o  What is world 3
Uploaded: 07/23/2017
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∙ What is a foreign subsiding?




∙ What is the trend in global sourcing?




∙ What is growing global interdependence called?



MGT 300 Exam 2: Chapter 5 T/F ∙ What is growing global interdependence called? o Globalization ∙ What is the trend in global sourcing? o ∙ What is world 3.0? o A world where nations balance cooperation in the global economy with national  identities and interests. ∙ Who is in NAFTA? o The North American Free Trade Agreement linking Canada, the If you want to learn more check out a person should consume more of something when its marginal
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United States and Mexico in an economic alliance. ∙ What is a foreign subsiding? o A local operation completely owned by a foreign firm. ∙ What is the goal of tariffs? o Taxes government levy on imports from abroad. ∙ What is ethnocentrism? o Tendency to consider one’s culture superior to others. Chapter 5 MC ∙ In what ways can a business go global? o Global sourcing, exporting and importing, licensing and franchising. ∙ What are some formal road blocks in international trade? o Quotas, import restrictions and other forms of protectionism. ∙ What are some of the issues international managers have to contend with? o ∙ What is cultural intelligence? o An individual capacity to understand, respect, and adapt to cultural differences. ∙ What are some key differences between cultures? oChapter 6 T/F ∙ What are the characteristics of entrepreneurs? o Self-confident, internal locus of control, high energy level, tolerance for  ambiguity, flexible, passion and action orientation, high need for achievement,  self-reliance. ∙ What are the characteristics of a start up? o New, shapeless, temporary, under developed. ∙ Stages in an entrepreneurial firm’s life cycle? o Birth stage> Breakthrough stage> Maturity stage. ∙ What is social enterprise? o Have a social mission to help make lives better for underserved populations. ∙ What is a start up? o A new and temporary venture that is trying to discover a profitable business  model for future success. ∙ What are the elements of a business plan? o Executive summary, industry analysis, company description, product/service  description, market description, market strategy, operations description, staffing  description, financial projection, capital needs, milestones. ∙ What are the different forms of new venture financing? o Debt financing: involves borrowing money that must be rapid over time with  interest.  o Equity financing: involves exchanging ownership shares for outside investment  monies. Chapter 6 MC ∙ What are the characteristics of a social entrepreneur? o A unique and ethical entrepreneur that seeks novel ways to solve pressing social  problems. ∙ What are the different forms of entrepreneurship? o Social,  ∙ What is a business model? o Plan that conducts how your business will make money. ∙ What are some of the transition hurdles business owners contend with? o ∙ What are the stages of the life cycle of an entrepreneurial venture? o Birth, breakthrough and maturity? ∙ About various venture ownership models? o ∙ About the various forms financing can take on. oChapter 8 T/F ∙ What is involved in the management process? o Planning, organizing, leading and controlling the use of resources to achieve  performance objectives. ∙ Various forms of planning? o Long-range/short-range plans, strategic and tactical plans, operational plans. ∙ Elements of the management process? o Planning, leading, organizing, controlling. ∙ The benefits of planning? o Improves focus and flexibility, improves action orientation, improves  coordination and control. ∙ What strategic planning is? o Focuses on the organization as a whole or a major component. ∙ What policies are? o A standing plan that communicates broad guidelines for decisions and action. ∙ What procedures are? o A rule describing actions that are to be taken in specific situations. ∙ What benchmarking is? o The use of external and internal comparisons to plan for future improvements.  Chapter 8 MC ∙ The functions of management? o Identify and define the problem o Generate and evaluate alternative courses of action o Choose a preferred course of action o Implement the decision ∙ What is involved in planning? o Planning is the process of setting performance objectives and determining what  should be done to accomplish them. ∙ What happens in the various phases of planning? o Define your objectives: identify desired outcomes, plan how you will get there. o Determine where you stand with your objectives: evaluate current  accomplishments relative to desired results.  o Develop premises regarding future conditions: anticipate future events, generate  alternate “Scenarios” for what may happen. o Analyze alternatives and make a plan: list and evaluate possible actions, choose  the alternative most likely to accomplish your objectives.o Implement the plan and evaluate the results: take action and carefully measure  progress toward your objectives follow through by doing what the plan requires  and revise plans as needed. ∙ Cons of having a plan? o Making a plan is one thing, but taking the action and actually implementing the  plan is crucial to reaching your desired outcomes, and some people often forget  that. ∙ How the management are connected? o ∙ Various types of plans? o Short range plans: tend to cover a year or less o Long range plans: extend up to three years or more. o Strategic plans: set critical long range directions. o Operational plans: designed to implement strategic plans. ∙ What a vision is? o Clarifies the purpose of the organization and expresses what it hopes to be in the future.  ∙ What differentiates policies from procedures? o Policies, such as sexual harassment policy, are plans that set guidelines for the  behavior of organizational members. o Procedures are plans that describe actions to be taken in specific situations, such  as the steps to be taken when persons believe they have been subjected to  sexual harassment.

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