MGT 202 EXAM 1 QUESTIONS AND
ANSWERS ALL CORRECT
Why do companies expand internationally - Answer- Availability of supplies, new
markets, lower labor costs, access to finance capital, avoidance of tariffs and import
quotas
How do companies expand internationally? - Answer- Global Outsourcing, Importing,
exporting and counter-trading, Licensing and Franchising, Joint Ventures, Wholly owned
subsidiaries
The value of understanding cultural differences - Answer- Cultural variations such as
language, interpersonal space, communication, time orientation, religion, and law and
political stability
What is the shared set of beliefs, values, knowledge, and patterns of behavior common
to a group of people - Answer- A nations culture
What is low context culture - Answer- shared meanings are primarily derived from
written and spoken words
Management is the art of getting things done ____________ - Answer- Through people
Good managers are concerned with trying to achieve both _______ and ________ -
Answer- Efficiency, effectiveness
As a manager you have a: - Answer- Multiplier effect
What is the multiplier effect - Answer- Your influence is multiplied beyond the results
one person acting alone can achieve
What is the first reward of STUDYING management - Answer- You will have an insiders
understanding of how to deal with organizations from the outside
What is the second reward of STUDYING management - Answer- You will better
interact with co works
, What is the third reward of STUDYING management - Answer- You might make more
money during your career
What is the first reward of PRACTICING management - Answer- You and your
employees can experience a sense of accomplishment
What is the second reward of PRACTICING management - Answer- You can build a
catalog of successful products or services
What are the four steps of the management process - Answer- planning, organizing,
leading, controlling
What does the traditional management pyramid include - Answer- Levels and areas
What are the levels of management - Answer- top, middle, first line, team leaders, non
managerial employees
What are the areas of management - Answer- R&D, Marketing, Finance, Production,
Human Resources
What are the three types of organizations - Answer- for-profit, nonprofit, mutual-benefit
What managers make long term decisions about the overall direction of organization -
Answer- Top
What managers implement the policies and plans of the top managers above them -
Answer- Middle
What managers make short term operating decisions, directing the daily tasks of
nonmanagerial personnel - Answer- First line
Who is responsible for facilitating team activities - Answer- Team leader
What area of managers are responsible for just one organizational activity - Answer-
Functional
What area of managers are responsible for several organizational activities - Answer-
General
What are for profit organizations - Answer- For making money
What are non profit organizations - Answer- For offering services
What are mutual benefit organizations - Answer- For aiding members
ANSWERS ALL CORRECT
Why do companies expand internationally - Answer- Availability of supplies, new
markets, lower labor costs, access to finance capital, avoidance of tariffs and import
quotas
How do companies expand internationally? - Answer- Global Outsourcing, Importing,
exporting and counter-trading, Licensing and Franchising, Joint Ventures, Wholly owned
subsidiaries
The value of understanding cultural differences - Answer- Cultural variations such as
language, interpersonal space, communication, time orientation, religion, and law and
political stability
What is the shared set of beliefs, values, knowledge, and patterns of behavior common
to a group of people - Answer- A nations culture
What is low context culture - Answer- shared meanings are primarily derived from
written and spoken words
Management is the art of getting things done ____________ - Answer- Through people
Good managers are concerned with trying to achieve both _______ and ________ -
Answer- Efficiency, effectiveness
As a manager you have a: - Answer- Multiplier effect
What is the multiplier effect - Answer- Your influence is multiplied beyond the results
one person acting alone can achieve
What is the first reward of STUDYING management - Answer- You will have an insiders
understanding of how to deal with organizations from the outside
What is the second reward of STUDYING management - Answer- You will better
interact with co works
, What is the third reward of STUDYING management - Answer- You might make more
money during your career
What is the first reward of PRACTICING management - Answer- You and your
employees can experience a sense of accomplishment
What is the second reward of PRACTICING management - Answer- You can build a
catalog of successful products or services
What are the four steps of the management process - Answer- planning, organizing,
leading, controlling
What does the traditional management pyramid include - Answer- Levels and areas
What are the levels of management - Answer- top, middle, first line, team leaders, non
managerial employees
What are the areas of management - Answer- R&D, Marketing, Finance, Production,
Human Resources
What are the three types of organizations - Answer- for-profit, nonprofit, mutual-benefit
What managers make long term decisions about the overall direction of organization -
Answer- Top
What managers implement the policies and plans of the top managers above them -
Answer- Middle
What managers make short term operating decisions, directing the daily tasks of
nonmanagerial personnel - Answer- First line
Who is responsible for facilitating team activities - Answer- Team leader
What area of managers are responsible for just one organizational activity - Answer-
Functional
What area of managers are responsible for several organizational activities - Answer-
General
What are for profit organizations - Answer- For making money
What are non profit organizations - Answer- For offering services
What are mutual benefit organizations - Answer- For aiding members
