BUSI 311 MIDTERM QUESTIONS AND ANSWERS EXAM
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The strategy of treating each country as a unique market and in total isolation is
referred to as _____.
localization
focuses on external factors that affect a firm's performance
Institution based
suggests that while barriers to market integration at borders are high, they are
not high enough to completely insulate countries from each other
semi globalization
BRICS
Brazil, Russia, India, China, South Africa
suggests that the success and failure of firms are enabled and constrained by
business rules and norms of the host nation.
institution based view
A firm that directly invests in, controls, and manages value-added activities in
other countries is engaging in _____.
foreign direct investment
an example of bottom up innovation.
reverse innovation
the institution-based view of global business lay emphasis on
Understanding the laws and values of the firm's host nation
a significant pay raise awarded to expatriate employees working abroad.
international premium
Focusing on a firm's internal resources and capabilities is the main emphasis
resource based view
the inherent disadvantage experienced by foreign firms in host countries because
of their non-native status
liability of foreigness
States that Globalization is a not a one-directional phenomenon.
pendulum view of globalization
The resource-based view of global business differs from the institution-based
view of global business in that the resource-based view _____.
focuses on the internal strengths on the firm
Expats often receive significant _____.
international premiums
Semiglobalization is a type of globalization that _____.
lies between total isolation and total globalization
The term "base of the pyramid" represents economies where individuals make
less than _________.
$2,000/year
,The cushion of resources that allow an organization to adapt successfully to
pressures
organizational slack
an innovation that is adopted first in emerging economies and then diffused
around the world
reverse innovation
treats the entire world as one market
standarization
include laws, regulations, and rules.
formal institutions
measured as the sum of value added by resident firms, households, and
governments operating in an economy
GDP
Intellectual property rights need to be enforced through a formal system in order
to _____.
encourage firms to innovate while strictly adhering to IPR guidelines
pillar refers to the internalized, taken for granted values and beliefs that guide
individual and firm behavior
cognitive
Common law has _____ flexibility than civil law
more
a characteristic of high masculinity societies
sharp role differentiation along gender lines.
When formal constraints are unclear, informal constraints will play a larger role in
reducing uncertainty and providing constancy to managers and firms
a proposition of the institution-based view
has spread to many English-speaking countries and their (former) colonies.
the common law system
A firm being exposed after one of its employees turned whistleblower
the role of the cognitive pillar
____________ _______ is the only surviving example of a theocratic legal system
that is formally practiced by some existing governments.
islamic law
The average length of contracts is ___________ in low-context countries than in
high-context countries.
longer
Totalitarian countries have ___________ political risk than democratic ones.
more
The most effective way to understand a foreign culture is by _____.
immersing totally in the culture
According to sociologist Max Weber, what is the ideological foundation that led
to the rise of Western economic development?
Protestant work ethics
An American firm operating in the Middle East struggles with enforcing rules
opposing sexual discrimination against Muslim women working in its
, management. Which of the following describes the American firm's stand against
enforcing local norms?
Ethical imperialism
The __________ pillar supports informal institutions.
normative
the final phase of acquiring cultural intelligence
skills
the argument used by proponents of the "cultural" explanation for the difference
in economic development across the globe
Rich countries have a smarter and harder-working population
It tends to force firms into liquidation due to high competition.
private ownership
the factors of production depend on the relative distribution of market forces
versus command forces
mixed economy
A firm that has adopted an accommodative strategy for ethical challenges in
business _____.
accepts responsibility and does all that is required
members from a lower social category move to a higher social category is
social mobility
a factor for English being accepted as the global business language
English-speaking countries contribute the largest share of global business output.
An example of intellectual property rights is rights associated with ownership of
_____.
trademarks
an example of a force majeure defense for a seller
If the goods to be delivered are destroyed in an earthquake
The hierarchical arrangement of individuals into categories such as classes,
castes, or divisions within a society is referred to as _____.
social stratification
According to the VRIO framework, non-value-adding resources and capabilities
will lead to what for a firm?
A competitive disadvantage
developed on the insight that competitors do not share certain resources and
capabilities specific to one's firm.
resource-based view
The point at which an industry-specific activity becomes common across
industries and the need to keep it proprietary no longer exists is called _____.
commodization
Which of the following is an example of innovation resources and capabilities of a
firm?
Research and development capabilities
assets that are observable and easily quantified.
Tangible resource and capability
Which of the following strategies would suit a firm activity that is both firm-
specific and industry-specific?
LATEST UPDATE.Buy Quality Materials!
The strategy of treating each country as a unique market and in total isolation is
referred to as _____.
localization
focuses on external factors that affect a firm's performance
Institution based
suggests that while barriers to market integration at borders are high, they are
not high enough to completely insulate countries from each other
semi globalization
BRICS
Brazil, Russia, India, China, South Africa
suggests that the success and failure of firms are enabled and constrained by
business rules and norms of the host nation.
institution based view
A firm that directly invests in, controls, and manages value-added activities in
other countries is engaging in _____.
foreign direct investment
an example of bottom up innovation.
reverse innovation
the institution-based view of global business lay emphasis on
Understanding the laws and values of the firm's host nation
a significant pay raise awarded to expatriate employees working abroad.
international premium
Focusing on a firm's internal resources and capabilities is the main emphasis
resource based view
the inherent disadvantage experienced by foreign firms in host countries because
of their non-native status
liability of foreigness
States that Globalization is a not a one-directional phenomenon.
pendulum view of globalization
The resource-based view of global business differs from the institution-based
view of global business in that the resource-based view _____.
focuses on the internal strengths on the firm
Expats often receive significant _____.
international premiums
Semiglobalization is a type of globalization that _____.
lies between total isolation and total globalization
The term "base of the pyramid" represents economies where individuals make
less than _________.
$2,000/year
,The cushion of resources that allow an organization to adapt successfully to
pressures
organizational slack
an innovation that is adopted first in emerging economies and then diffused
around the world
reverse innovation
treats the entire world as one market
standarization
include laws, regulations, and rules.
formal institutions
measured as the sum of value added by resident firms, households, and
governments operating in an economy
GDP
Intellectual property rights need to be enforced through a formal system in order
to _____.
encourage firms to innovate while strictly adhering to IPR guidelines
pillar refers to the internalized, taken for granted values and beliefs that guide
individual and firm behavior
cognitive
Common law has _____ flexibility than civil law
more
a characteristic of high masculinity societies
sharp role differentiation along gender lines.
When formal constraints are unclear, informal constraints will play a larger role in
reducing uncertainty and providing constancy to managers and firms
a proposition of the institution-based view
has spread to many English-speaking countries and their (former) colonies.
the common law system
A firm being exposed after one of its employees turned whistleblower
the role of the cognitive pillar
____________ _______ is the only surviving example of a theocratic legal system
that is formally practiced by some existing governments.
islamic law
The average length of contracts is ___________ in low-context countries than in
high-context countries.
longer
Totalitarian countries have ___________ political risk than democratic ones.
more
The most effective way to understand a foreign culture is by _____.
immersing totally in the culture
According to sociologist Max Weber, what is the ideological foundation that led
to the rise of Western economic development?
Protestant work ethics
An American firm operating in the Middle East struggles with enforcing rules
opposing sexual discrimination against Muslim women working in its
, management. Which of the following describes the American firm's stand against
enforcing local norms?
Ethical imperialism
The __________ pillar supports informal institutions.
normative
the final phase of acquiring cultural intelligence
skills
the argument used by proponents of the "cultural" explanation for the difference
in economic development across the globe
Rich countries have a smarter and harder-working population
It tends to force firms into liquidation due to high competition.
private ownership
the factors of production depend on the relative distribution of market forces
versus command forces
mixed economy
A firm that has adopted an accommodative strategy for ethical challenges in
business _____.
accepts responsibility and does all that is required
members from a lower social category move to a higher social category is
social mobility
a factor for English being accepted as the global business language
English-speaking countries contribute the largest share of global business output.
An example of intellectual property rights is rights associated with ownership of
_____.
trademarks
an example of a force majeure defense for a seller
If the goods to be delivered are destroyed in an earthquake
The hierarchical arrangement of individuals into categories such as classes,
castes, or divisions within a society is referred to as _____.
social stratification
According to the VRIO framework, non-value-adding resources and capabilities
will lead to what for a firm?
A competitive disadvantage
developed on the insight that competitors do not share certain resources and
capabilities specific to one's firm.
resource-based view
The point at which an industry-specific activity becomes common across
industries and the need to keep it proprietary no longer exists is called _____.
commodization
Which of the following is an example of innovation resources and capabilities of a
firm?
Research and development capabilities
assets that are observable and easily quantified.
Tangible resource and capability
Which of the following strategies would suit a firm activity that is both firm-
specific and industry-specific?
