Quiz Fall 4-Business - Management

Free

Mirkhani Mining Supplies is the industry leader in the production of underground mining equipment. The company has its headquarters in South Africa and has been in operation there since its inception in 1987 . Mirkhani is known worldwide for the safety features it incorporates in its equipment. This company conducts its operations with the safety of the underground miner as its guiding objective

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Mirkhani Mining was recently called in to respond to the latest mine accident in China. Mirkhani not only provides safe mining equipment, it also makes superior mine rescue equipment. The company will be receiving a global award for freely rendering the use of its rescue equipment to China during a mine collapse. Mirkhani Mining Supplies will be recognized around the globe as saving the lives of forty underground miners in China. The company states, "Saving those lives is better than receiving a billion dollars for mining machinery.".
Which of the following structure type best identifies the structure Mirkhani Mining Supplies would be using if it grouped its products and services into separate divisions based on the needs of different areas served by the company?
a. Matrix structure
b. Hybrid structure
c. Globalized structure
d. Market structure
e. Geographical region structure

2

Free

According to the text, which of the following is NOT a major world market?

3

Free

Mirkhani Mining Supplies is the industry leader in the production of underground mining equipment. The company has its headquarters in South Africa and has been in operation there since its inception in 1987 . Mirkhani is known worldwide for the safety features it incorporates in its equipment. This company conducts its operations with the safety of the underground miner as its guiding objective

in Business

Mirkhani Mining was recently called in to respond to the latest mine accident in China. Mirkhani not only provides safe mining equipment, it also makes superior mine rescue equipment. The company will be receiving a global award for freely rendering the use of its rescue equipment to China during a mine collapse. Mirkhani Mining Supplies will be recognized around the globe as saving the lives of forty underground miners in China. The company states, "Saving those lives is better than receiving a billion dollars for mining machinery.".
As the growth of Mirkhani Mining Supplies has taken place, which one of the following is least likely to be a step it has taken in its international advancement?
a. Development of an export division
b. Collaboration between the sales department and the export division
c. Use of advanced marketing techniques for its products within its home country of South Africa
d. Adaptation of its products to better fit the needs of its customers
e. Development of an international division

4

Free

When the various regional integration blocs are analyzed from an economic geography perspective, they fall under three general categories – regional blocs close to major world markets, remote regions with large local markets, or _____

5

Free

Mirkhani Mining Supplies is the industry leader in the production of underground mining equipment. The company has its headquarters in South Africa and has been in operation there since its inception in 1987 . Mirkhani is known worldwide for the safety features it incorporates in its equipment. This company conducts its operations with the safety of the underground miner as its guiding objective

in Business

Mirkhani Mining was recently called in to respond to the latest mine accident in China. Mirkhani not only provides safe mining equipment, it also makes superior mine rescue equipment. The company will be receiving a global award for freely rendering the use of its rescue equipment to China during a mine collapse. Mirkhani Mining Supplies will be recognized around the globe as saving the lives of forty underground miners in China. The company states, "Saving those lives is better than receiving a billion dollars for mining machinery.".
All of the following characteristics would be seen if Mirkhani Mining Supplies was considered a stateless corporation except which one?
a. It is almost impossible to identify the home country of the company
b. It requires the company to maintain its own individuality within the host country
c. It represents a new phase in the evolution of multinational companies
d. It sends work to wherever it is performed most efficiently
e. It allows the company to transcend international boundaries without difficulty

6

All of the following statements about regional integration are true EXCEPT:

7

Windmere Technologies has been in operation since 1984 . Today, Windmere is actually considered to be a globally-based firm with corporate offices in thirteen foreign nations. There is not one office of this company with higher authority or more decision making power than any other of the thirteen in operation. Windmere Technologies is recognized as a business leader in all thirteen nations in

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which it has corporate offices. According to the CEO of the company, "Windmere considers the world to be its home base.". The management has done a good job of creating its organizational structure where people are grouped simultaneously by function and by division.

Windmere is best known for its work in creating alternative energy sources. As this is of vital concern to all nations of the world today, Windmere's ideas and products are welcomed by all nations. This business takes in revenues in excess of $8 billion per year and expects it to substantially increase in the future.
Which one of the following organizational structures best identifies the one currently used by Windmere Technologies?
a. Functional structure
b. Matrix structure
c. Divisional structure
d. Market structure
e. Geographical region structure

8

The World Bank's (2009) World Development Report does which of the following?

9

Windmere Technologies has been in operation since 1984 . Today, Windmere is actually considered to be a globally-based firm with corporate offices in thirteen foreign nations. There is not one office of this company with higher authority or more decision making power than any other of the thirteen in operation. Windmere Technologies is recognized as a business leader in all thirteen nations in

in Business

which it has corporate offices. According to the CEO of the company, "Windmere considers the world to be its home base.". The management has done a good job of creating its organizational structure where people are grouped simultaneously by function and by division.

Windmere is best known for its work in creating alternative energy sources. As this is of vital concern to all nations of the world today, Windmere's ideas and products are welcomed by all nations. This business takes in revenues in excess of $8 billion per year and expects it to substantially increase in the future.
Which one of the following would Windmere Technologies not claim as a purpose of its organizational structure?
a. Serves as a barrier to interactions with other organizations
b. Determines the boundaries of the organization
c. Regulates its interactions with the environment
d. Utilizes a division of labor system that leads to departmentalization
e. Integrates mechanisms such as formal rules and procedures

10

Of the following, which is NOT a cost of regional integration?

11

Windmere Technologies has been in operation since 1984 . Today, Windmere is actually considered to be a globally-based firm with corporate offices in thirteen foreign nations. There is not one office of this company with higher authority or more decision making power than any other of the thirteen in operation. Windmere Technologies is recognized as a business leader in all thirteen nations in

in Business

which it has corporate offices. According to the CEO of the company, "Windmere considers the world to be its home base.". The management has done a good job of creating its organizational structure where people are grouped simultaneously by function and by division.

Windmere is best known for its work in creating alternative energy sources. As this is of vital concern to all nations of the world today, Windmere's ideas and products are welcomed by all nations. This business takes in revenues in excess of $8 billion per year and expects it to substantially increase in the future.
Which one of the following best describes Windmere Technologies claim that the world is its home base?
a. A hybrid structure
b. A functional structure
c. A matrix organization
d. A stateless corporation
e. A geographical regional structure

12

Of the following, which is NOT a benefit of regional integration?

13

Keegan Enterprises is owned by Stanley Keegan of Wichita, Kansas. Stanley started Keegan Enterprises in 1990 and has watched his company grow to become the second largest producer of van trailers in the world. Keegan Enterprises earned $60 million in profit last year and currently has over 17,000 workers around the globe. In order to achieve its stated mission and goals, Keegan Enterprises has

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implemented several changes to its business strategy over the past few years. While accomplishing the necessary changes has not been easy or without challenge, Keegan Enterprises appears to be stronger and more unified today than ever before. Stanley Keegan is looking forward to facing future challenges and watching the forward growth of his business. He would like to see his company in the number one spot as the world's largest producer of van trailers in the world.If Keegan Enterprises was characterized as an analyzer by Miles and Snow, which one of the following would not be true of this company?
a. Companies that use the analyzer strategy take steps to extend their markets while avoiding excessive risk
b. Companies that use the analyzer strategy defend existing operations while taking steps to extend their markets
c. Companies recognized as analyzers take a middle ground between being prospectors and defenders
d. Companies using an analyzer strategy take extensive risks to expand into global markets
e. Strategic implementation using an analyzer strategy can be impeded by legal, technological, and political challenges

14

A market formed when members of a common market agree to implement common social programs and coordinated macroeconomic policies that would lead to the creation of a single regional currency and a regional apex central bank is known as a(n) _____

15

Keegan Enterprises is owned by Stanley Keegan of Wichita, Kansas. Stanley started Keegan Enterprises in 1990 and has watched his company grow to become the second largest producer of van trailers in the world. Keegan Enterprises earned $60 million in profit last year and currently has over 17,000 workers around the globe. In order to achieve its stated mission and goals, Keegan Enterprises has

in Business

implemented several changes to its business strategy over the past few years. While accomplishing the necessary changes has not been easy or without challenge, Keegan Enterprises appears to be stronger and more unified today than ever before. Stanley Keegan is looking forward to facing future challenges and watching the forward growth of his business. He would like to see his company in the number one spot as the world's largest producer of van trailers in the world.In meeting its strategic goals, Keegan Enterprises plans to open operations in the Middle Eastern country of Kuwait within two years. This business idea is best identified as which one of the following?
a. An operational plan
b. A business strategy
c. A demonstration of organizational change
d. A reactor formulation
e. A tactical plan

16

The union created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country is known as a(n) _____

17

Keegan Enterprises is owned by Stanley Keegan of Wichita, Kansas. Stanley started Keegan Enterprises in 1990 and has watched his company grow to become the second largest producer of van trailers in the world. Keegan Enterprises earned $60 million in profit last year and currently has over 17,000 workers around the globe. In order to achieve its stated mission and goals, Keegan Enterprises has

in Business

implemented several changes to its business strategy over the past few years. While accomplishing the necessary changes has not been easy or without challenge, Keegan Enterprises appears to be stronger and more unified today than ever before. Stanley Keegan is looking forward to facing future challenges and watching the forward growth of his business. He would like to see his company in the number one spot as the world's largest producer of van trailers in the world.Keegan Enterprises acknowledges it has undertaken changes within the company's strategy. This organizational change can involve the implementation of a different business or cultural path for the organization. Which one of the following is least likely to be true regarding Keegan's organizational change?
a. Organizational change is often met with considerable resistance
b. The most accepted organizational change is led by top management
c. At times organizational change is better accepted if initiated by an outsider of the company
d. Organizational change indicates a company is in serious financial distress
e. Organizational change can involve both the business strategy and the culture of the company

18

A group of free trade member countries that have adopted a common external tariff with nonmember countries is called a(n) _____

19

Blackford Industries, Inc was established in 2004 by Jeanna and Sean Blackford. The company produces a wide array of restaurant equipment and supplies for restaurant owners throughout the United States. This company has grown substantially year after year since its inception. It attributes its success to having extensive knowledge of the industry it serves. Both owners have advanced culinary

in Business

degrees from prestigious colleges and feel they understand the needs of their clients thoroughly.

Blackford Industries, Inc is led by clearly defined guidelines established by its owners. The company's philosophy is one of caring for and about each customer. Blackford is known for treating each of its employees as if they were members of their family. Its business practices are honest and trustworthy. The company demonstrates its high level of integrity with each of its business dealings.

Sean and Jeanna are currently considering expanding their business into the European marketplace as this market is fairly unexplored by competitors with American restaurant supplies. They see the vast potential of this market and are aware of the challenges such a decision presents to them. The decision about the company's international expansion will be made by the end of this year.One of the remarkable actions of Blackford Industries, Inc is the treatment of its employees like family. Additionally, the fair and honest way this company conducts its business transactions and the way it respects and treats its customers is most likely a reflection of which one of the following?
a. Corporate strategy
b. Company culture
c. Organizational change
d. Government mandates
e. Organizational stakeholder's credo

20

According to the text, which of the following is the third stage of regional integration?

21

Blackford Industries, Inc was established in 2004 by Jeanna and Sean Blackford. The company produces a wide array of restaurant equipment and supplies for restaurant owners throughout the United States. This company has grown substantially year after year since its inception. It attributes its success to having extensive knowledge of the industry it serves. Both owners have advanced culinary

in Business

degrees from prestigious colleges and feel they understand the needs of their clients thoroughly.

Blackford Industries, Inc is led by clearly defined guidelines established by its owners. The company's philosophy is one of caring for and about each customer. Blackford is known for treating each of its employees as if they were members of their family. Its business practices are honest and trustworthy. The company demonstrates its high level of integrity with each of its business dealings.

Sean and Jeanna are currently considering expanding their business into the European marketplace as this market is fairly unexplored by competitors with American restaurant supplies. They see the vast potential of this market and are aware of the challenges such a decision presents to them. The decision about the company's international expansion will be made by the end of this year.According to Professors Raymond Miles and Charles Snow, under which of their classifications would Blackford Industries, Inc must likely fall?
a. Reactors
b. Protectionists
c. Prospectors
d. Defenders
e. Challengers

22

According to the text, which of the following is NOT a stage of regional integration?

23

Blackford Industries, Inc was established in 2004 by Jeanna and Sean Blackford. The company produces a wide array of restaurant equipment and supplies for restaurant owners throughout the United States. This company has grown substantially year after year since its inception. It attributes its success to having extensive knowledge of the industry it serves. Both owners have advanced culinary

in Business

degrees from prestigious colleges and feel they understand the needs of their clients thoroughly.

Blackford Industries, Inc is led by clearly defined guidelines established by its owners. The company's philosophy is one of caring for and about each customer. Blackford is known for treating each of its employees as if they were members of their family. Its business practices are honest and trustworthy. The company demonstrates its high level of integrity with each of its business dealings.

Sean and Jeanna are currently considering expanding their business into the European marketplace as this market is fairly unexplored by competitors with American restaurant supplies. They see the vast potential of this market and are aware of the challenges such a decision presents to them. The decision about the company's international expansion will be made by the end of this year.Blackford Industries, Inc realizes that each decision it makes affects may stakeholders of the company. Of the following, which one is least likely to be considered a stakeholder of the company?
a. The board members of the competitors
b. The community the business is located in
c. The customers of the business
d. The employees of the business
e. The suppliers of the business

24

Three countries, X, Y, and Z are part of a member area where they have eliminated all barriers to trade such as tariffs, quotas, and non-tariff barriers like border restrictions, while at the same time keeping their own external tariffs against nonmembers. Such an area could be described as a(n) _____ area

25

Boseman Clothier, Inc has been in operation for over 75 years. It is based in South Carolina, USA and is a well-recognized name in the industry. It produces custom fitted men's suits that are in high demand throughout the world. The average cost of one of its suits is in excess of five thousand U.S. dollars. Boseman proudly states it has more customer orders than its one store can fill within the

in Business

next six months. With growing demand from overseas, the company has recently decided to open operations in four foreign markets next year.

Boseman realizes the potential of this move will generate increased revenues for the company. One of the options it is contemplating is exploring forming an international joint venture. Boseman is also entertaining the thought of opening operations differently in each of the four new foreign markets. The company feels the use of different strategies may increase its odds of generating profits in each different market.Bozeman is also considering making the entry into the international market by engaging in foreign direct investments in the nations. Which one of the following is not a true statement regarding foreign direct investment from the host country's perspective?
a. Significant financial inflows always result from engaging in foreign direct investment.
b. Foreign direct investment can create new jobs and can generate tax revenues for governments
c. A concern of the local governments in host countries is the lack of corporate social responsibility
d. There is the potential for exploitation of human labor within certain countries
e. These investments may take the form of plants, buildings, or inventories

26

_____ refers to the process of allowing efficient geographic distribution of business activities within and among countries

27

Boseman Clothier, Inc has been in operation for over 75 years. It is based in South Carolina, USA and is a well-recognized name in the industry. It produces custom fitted men's suits that are in high demand throughout the world. The average cost of one of its suits is in excess of five thousand U.S. dollars. Boseman proudly states it has more customer orders than its one store can fill within the

in Business

next six months. With growing demand from overseas, the company has recently decided to open operations in four foreign markets next year.

Boseman realizes the potential of this move will generate increased revenues for the company. One of the options it is contemplating is exploring forming an international joint venture. Boseman is also entertaining the thought of opening operations differently in each of the four new foreign markets. The company feels the use of different strategies may increase its odds of generating profits in each different market.Boseman Clothier, Inc has indicated it would like to use different entry strategies for each of the four markets it plans to enter. Which of the following would not be considered a benefit from using licensing in the other foreign markets it plans to enter?
a. This type of relationship is expected to last for years so there must be a high level of trust between the companies involved
b. Bozeman will be subjected to the least amount of risk with this type of entry into a foreign market
c. Bozeman is expected to provide the foreign partner with the process necessary to produce its highly desired suits
d. Bozeman's partner is expected to pay an annual license fee to the company for the use of its production process and the ability to sell its products
e. Bozeman does not have to have financial resources to open new production facilities within the foreign country

28

According to the Cultural Perspective box in Chapter 03, when French President, Nicolas Sarkozy, assumed his six-month European Union presidency in July 2008, the first initiative he launched was the Union for the _____

29

Boseman Clothier, Inc has been in operation for over 75 years. It is based in South Carolina, USA and is a well-recognized name in the industry. It produces custom fitted men's suits that are in high demand throughout the world. The average cost of one of its suits is in excess of five thousand U.S. dollars. Boseman proudly states it has more customer orders than its one store can fill within the

in Business

next six months. With growing demand from overseas, the company has recently decided to open operations in four foreign markets next year.

Boseman realizes the potential of this move will generate increased revenues for the company. One of the options it is contemplating is exploring forming an international joint venture. Boseman is also entertaining the thought of opening operations differently in each of the four new foreign markets. The company feels the use of different strategies may increase its odds of generating profits in each different market.Boseman Clothier, Inc has decided to begin international operations using an international joint venture. Which one of the following is not one of the expectations from this type of entry into the foreign market arena?
a. The joint venture partners will have shared company equity
b. The profits earned will be shared with the joint venture partner
c. The increased risk from operating abroad will be shared with the joint venture partner
d. Use of joint production and distribution will help to increase market share
e. Boseman will maintain all decision making rights in the foreign market

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Quiz Fall 4-Business - Management

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