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Midterm

midterm practice questions.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Sui Sui
Semester
Fall

Description
1. The four basic functions of management are ____C._____. A. Delegating, planning, organizing, and order giving. B. Organizing, leading, controlling, and order giving. C. Planning, organizing, leading, and controlling. D. Delegating, leading, controlling, and decision making. E. Planning, leading, controlling, and decision making. 2. Using mathematical and statistical analyses of historical data and surveys to predict future events is called ______A.____. A. Quantitative forecasting. B. Guesswork. C. Qualitative forecasting. D. Contingency planning. E. Expert planning. 3. Which level of management uses information to stay informed and to formulate strategies, objectives, and long-term plans; to develop policies; and to make strategic decisions? A. A) Top-level managers. B) Middle-level managers. C) First-level managers. D) Top and middle managers. E) All levels of management. 4. According to Henri Fayol, the five rules of management are ___A_____. A. Foresight, organization, command, coordination, and control. B. Authority, responsibility, discipline, remuneration, and initiative. C. Centralization, stability, initiative, communication, and espirit de corps. D. Prediction, hypothesis, observation, experimentation, and verification. E. Standardization, centralization, negative entropy, communication, and homeostasis. 5. Apple produces most of its products (e.g. iPhone, iPad, etc.) in China, and not the US, because__D____ A. the cost of labour is cheaper in China. B. production speed and flexibility are higher in China. C. there is a greater supply of labour in China. D. all of the above. Page 1 of 5 6. Decision making is a _____five step_____ process that begins with ______identifying and defining the problem____ and ends with ____evaluating results______. A A. Five-step … identifying and defining the problem … evaluating results. B. Five-step … identifying and defining the problem … implementing the solution. C. Four-step … identifying and defining the problem … implementing the solution. D. Six-step … generating alternative solutions … evaluating the results. E. Six-step … generating alternative solutions … implementing the solution. 7. Businesses expand their operations to the international market for many reasons. Which of these is NOT a reason offered by your text? B. A) To expand profit potential. B) To take advantage of decreased governmental control in host countries. C) To increase access to needed raw materials. D) To draw on the financial resources of many nations. E) To have access to lower labour costs. 8. Which of the following does NOT accurately characterize the conduct of international business? C. A) Global sourcing, exporting/importing, and licensing/franchising are market entry strategies for conducting international business. B) Market entry strategies involve the sale of goods or services to foreign markets but do not require major capital investments. C) When a business is just getting started internationally, direct investment strategies are the usual way to begin. D) Direct
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