Exam 2 - Chapters 6-9 Flashcards Preview

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Flashcards in Exam 2 - Chapters 6-9 Deck (50):
1

Collaborating with other countries in trade raises the ___ of ___.

Standards of living

2

An organization's ______ includes growth of developing nations.

Economic environment

3

China is on its way to becoming the _____ and _____ of the world's goods.

Producer ; consumer

4

When identifying the best strategy for competing in a global marketplace, it is helpful to plot a company's position on an _____-_____ grid.

Integration-responsiveness

5

In the integration-responsiveness grid the vertical axis measures pressures for _____ ____.

Global integration

6

In the integration-responsiveness grid, the horizontal axis measures pressures for ____ ____.

Local responsiveness

7

An advantage of the _____ model is it facilitates the transfer of skills from the parent company to its subsidiaries.

International

8

An advantage of a ____ model is subsidiaries can customize products according to local preferences.

Multinational

9

The _____ model involves fostering communication among subsidiaries to permit transfer of skills.

Transnational

10

The _____ _____ mode is used by most manufacturing companies to begin global expansion.

Exporting entry

11

An advantage of _____ as a method of entering global competition is that the licensee bears most of the costs and risks associated.

Licensing

12

A major disadvantage of operating a _____ _____ _____ is the high cost and risk associated with this type of operation.

Wholly owned subsidiary

13

_____ is the core value most people embrace despite differences across cultures, and regardless of nationality or religion.

Responsibility

14

According to many entrepreneurs and observers, when creating a new business, one should start with _____ _____.

Great ideas

15

When spotting an opportunity, know that _____ and _____ changes may involve capitalizing on new clothing and music trends, the desire for fast food, and growing interest in sports.

lifestyle and taste

16

Quad INC., a car manufacturer, spotted opportunities in the economic _____ category when they started to sell electric cars in response to the rising fuel prices.

Economic dislocations

17

Dr. Gerry began helping women in South Rhodia obtain microloans. This act is a typical example of _____ _____.

Social entrepreneurship

18

_____ and _____ are characteristics successful entrepreneurs who are decisive, tenacious, disciplined, and willing to sacrifice possess.

Commitment and determination

19

_____ _____ increases the liklihood of an entrepreneur's success.

Opportunity obsession

20

A product that represents a novel idea requiring little financial investment would be displayed in the upper-left quadrant of the _____ _____ _____.

Entrepreneurial strategy matrix

21

Bad economic times can offer more opportunities to _____.

Expand

22

One of the major liabilities of start-ups is _____.

Smallness

23

Benefits of _____ _____ include access to shared services.

Business incubators

24

In order for family-managed businesses to survive and prosper, management guru, Peter Drucker, advises them to fill at least one "_____" position with a non-family member.

Key position

25

While building support for one's idea, getting together people who will offer support before formal approval from higher levels is known as _____ _____.

Making cheerleaders

26

Successfully fostering and managing intrapreneurship involves rewarding risk taking. This is known as _____.

Skunkworks

27

The reporting structure and division of labor in an organization is called _____ _____.

Organizational chart

28

Lawrence & Lorsch found that highly differentiated firms were successful if they had high levels on integration. This is called _____.

Differentiation

29

The _____ is responsible for selecting the CEO.

Board

30

The _____ elect the corporation's board of directors.

Stockholders

31

_____ _____ hire outside directors to provide different information and perspectives to prevent big mistakes.

Corporate boards

32

Tall & Flat: A wide span of control creates a _____ organization.

Flat

33

Line Departments:
A _____ _____ belongs to the middle managerial level.

Departmental head

34

_____ _____ deal with the organization's primary goods and services.

Line deparements

35

Line Departments:
The _____ department is an example of a line department.

Manufacturing

36

An organization composed of dual reporting relationships in which some managers report to two superiors - a functional manager and a divisional manager - is known as what kind of organization?

Matrix organization

37

The additional time that is required for meetings and coordination is a(n) advantage/disadvantage to the matrix design.

Disadvantage

38

A specific technique used to reduce the need for information is to create _____-_____ _____.

Self-contained tasks

39

The formal structure of an organization is primarily put in place to control _____, _____, and _____.

People, decisions, and actions.

40

Structurally, a _____-_____ organization is usually flat, decentralized, and build around a customer, good, or service.

High-involvement

41

Larger size helps develop _____ _____ _____.

Economies of scope

42

Economies in which materials and processes employed in one product can be used to make other related products are called:

Economies of scope

43

_____ is the planned elimination of positions or jobs.

Downsizing

44

Striving for long-term improvement rather than short-term profit, regardless of the economic environment when in the context of Deming's 14 points of quality, this is an example of creating _____ _____ _____.

Constany of purpose.
(TQM. - Total Quality Management)

45

Eliminating _____ and _____ is also one of W. Edwards Deming's 14 points of quality.

Slogans and buzzwords
(TQM - Total Quality Management)

46

Another point from Deming's 14 points theory is that the company can use its institute _____ and _____.

Training and retraining
(TQM - Total Quality Management)

47

A small office with only a physician, a nurse, and a book keeper is an example of a job shop is called a _____ _____.

Small batch

48

Having relatively shorter production runs is a characteristic of _____ _____.

Flexible factories

49

Problems with _____ is most likely to result in products going out of stock and consumers choosing alternatives.

Logistics

50

Perfect quality, elimination of waste, value added manufacturing, and employee involvement are all components of _____-_____-_____ operations.

Just-in-time