business units 1-5 mastery Flashcards
(65 cards)
A business organization that operates in two or more countries is referred to as a:
Multinational company
Which of the following is a potential benefit of multinational companies for host countries?
Development of local infrastructure
Which of the following is not a benefit of external growth?
Less risky
With regard to the Ansoff matrix, what is the type of growth strategy that requires promoting brand loyalty to encourage repeat customers and to pull customers away from the competition? (It focuses on selling existing products in an existing market.)
Market penetration
Which of the following is a benefit that larger companies might gain over smaller companies?
Economies of scale
____ are interested in the returns they receive on their investment in the company.
Shareholders
A decision to introduce new machinery at a refinery could reduce the number of jobs but lead to higher profits. Which stakeholder groups have the most conflicted interests in this scenario?
Owners and employees
Which of the following depicts a policy that is aligned with corporate social responsibility?
Using technology in the manufacturing process that is environmentally friendlier but more expensive
What are positive factors, external to the business, that are considered when using a SWOT analysis?
Opportunities
What might be the conflict between the management of a publicly-held company and its owners when deciding how to use the company’s profits?
Manager wishes to reinvest profits in the business while owners aspire to earn higher returns or dividends.
Which of the following is true of a STEEPLE analysis?
It analyzes company opportunities and threats.
When the job someone is doing is no longer required, and the business eliminates the position.
Redundancy
A form of industrial action where workers follow the rules of work, but do no more than that; reduces output to put pressure on employers to negotiate.
Work-to-rule
A large scale refusal to work any additional hours beyond the specified contracted hours.
Overtime ban
A situation where management blocks workers from entering the workplace; a negotiation tactic to put pressure on workers to compromise in labour negotiations.
Lock-out
An advantage of informal communication is:
Faster
In Handy’s Gods of Management Theory, what type of culture does this diagram represent?
Power culture
Cultural clashes can result from the following type of EXTERNAL growth:
Acquisitions
Which motivation theory claimed there are entirely different reasons for job dissatisfaction and job satisfaction?
Herzberg’s Two-Factor Theory
Which motivation theory claimed that people have different needs, and some needs have to be satisfied before others can be met?
Maslow’s Hierarchy of Needs Theory
A leadership style where a leader actively seeks employee participation in decision-making.
Democratic
A leadership style where the leader retains control of all decision-making and does not delegate.
Autocratic
A leadership style whereby the head of an organisation treats employees as though they are part of the family; loyalty and obedience are expected in return.
Paternalistic
A leadership style whereby the leader ‘lets go’ of decision-making and allows members of the group or team to make decisions.
Laissez-faire
