Question TRUE/FALSE 1. In today’s world, every manager needs to think locally.

TRUE/FALSE

1. In today’s world, every manager needs to think locally.

2. Business has become a unified, global field as trade barriers fall, communication becomes faster and cheaper, and consumer tastes converge.

3. The second stage in the process of globalization is the international stage, where the company usually adopts a multidomestic approach.

4. An example of global outsourcing is seen when Gap, Inc. uses low-cost Caribbean labor to cheaply produce its clothing, and then finishes off and sells its clothing in the United States.

5. With exporting, the corporation transfers its products for sale and its production facilities in foreign countries.

6. Seeking cheaper sources of materials or labor offshore is called offshoring.

7. Countertrade is the barter of products for products rather than the sale of products for currency.

8. An estimated 55 percent of world trade is countertrade.

9. When Harbor Trades, a Korean-based company, makes resources including technology, managerial skills, and patent and trademark rights available to Nano Technologies, a Russian company whereby allowing Nano to make products similar to CBA, it is engaging in a countertrade agreement.

10. Outsourcing is perhaps the most widespread approach to international involvement in China and India.

11. Infrastructure management is the management of business operations conducted in more than one country.

12. The basic management functions of planning, organizing, leading, and controlling are the same whether a company operates domestically or internationally.

13. The sub-divisions of the international environment are the economic, the sociocultural, and the legal-political environments.

14. Some economic environments of business include resource and product markets, language, religion, and per capita income.

15. A country’s physical facilities that support economic activities make up its infrastructure.

16. The criterion traditionally used to classify countries as developed or developing is per capita income.

17. LDCs are less developed countries and tend to be found in the Southern Hemisphere including Africa, Asia and South America.

18. Because of cheap labor, most international business firms are headquartered in the less developed countries of Asia and South America.

19. Market risk is defined as the risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments.

20. The countries experiencing political stability face the greatest threat of violence.

21. A company’s political risk includes riots, revolutions, civil disorders, and frequent changes in government.

22. Unfortunately, many U.S. managers fail to realize that the values and behaviors that typically govern how business is done in the United States do not translate to the rest of the world.

23. Countries that value high power distances normally have cities that are geographically separated and so have the need to transport electrical energy over large distances.

24. The social value of uncertainty avoidance is evident in countries like Japan which support beliefs that provide stability and conformity among its citizenry.

25. In countries with strong masculine social values including Austria and Japan, both men and women subscribe to the dominant masculine value.

26. Collectivism means a preference for a tightly knit social framework in which individuals look after one another and organizations protect their members’ interests.

27. The fifth dimension of Hofstede’s social values is preliminary-term orientation and extended-term orientation.

28. According to the GLOBE Project, a society with a high performance orientation places high emphasis on performance and rewards people for performance improvements and excellence.

29. According to the GLOBE Project, gender differentiation refers to the extent to which a society maximizes gender role differences.

on Skills box in Chapter 3, the polite way to give your business card to a Japanese business person is when first meeting, presenting your card with both hands.

31. According to Spotlight on Skills box in Chapter 3, being on-time for appointments is very important in Brazil.

32. Social values greatly influence organizational functioning and management styles.

33. According to the GLOBE Value Dimensions, Japan and Russia both have very high performance orientation.

34. A low-context culture is a culture in which communication is used to enhance personal relationships.

35. Linguistic pluralism occurs in countries like India where more than one language exist.

36. A high-context interaction requires more time because a relationship has to be developed, and trust and friendship must be established.

37. German, Swiss, and North American cultures are among the high-context cultures.

38. When an organization has an instrumental attitude toward people it treats employees as a resource to be used.

39. When an organization has a humanistic attitude, it values employees as an end in themselves.

40. Ethnocentrism refers to a natural tendency of people to regard their own culture as superior and to downgrade or dismiss other cultural values.

41. Ethnocentrism refers to a natural tendency of people to regard their own culture as inferior to other cultures.

42. A tendency to regard their own culture as superior and to downgrade other cultures reflects an attitude called geocentric.

43. The goal of the European Union is to create a powerful single market system for Europe’s millions of consumers.

44. An organization developed for the purpose of eliminating tariffs in trading between Japan and the United States is called The North American Freedom of Tariffs Administration (NAFTA).

45. Fifteen member states of the EU have adopted the rupee, as a single European currency.

46. Culture shock refers to a person’s ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devise appropriate behavioral responses.

47. Cultural intelligence refers to a person’s ability to use reasoning and observation skills to interpret unfamiliar gestures and situations and devise appropriate behavioral responses.

48. Culture shock refers to the frustration and anxiety that result from constantly being subjected to strange and unfamiliar cues about what to do and how to do it.

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