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GMS 200 – MidTerm Exam Questions and Answers
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GMS 200 – MidTerm Exam Questions and Answers
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GMS 200 – MidTerm Exam Questionsand Answers
global management - Answer -management in businesses and organization with
interests in more than one country
globalized economy - Answer -increasing interdependence of would economies as a
result of the growing scale of cross-border trade of commodities and services, flow of
international capital and wide and rapid spead of technologies.
T/F - In a competitive global business landscape, the increasing demand for talented,
knowledge workers is primary due to the increasing use o low-cost production - Answer
-False
T/F - The age gap in todays workplace is one of the diversity issues that may create
challenges for managers. - Answer -True
The recruitment and retention of talented workers is one of the major challenges faced
by managers in a globally competitive economy - Answer -True
According to Katz's framework on essential managerial skills, low - level managers need
to develop more conceptual skills that top-level managers. - Answer -False
What are the key conditions that describe the general (business) environment - Answer
-- economic conditions
- legal - political conditions
- technological conditions
- socio - cultural conditions
- natural environment conditions
A global economy is characterized by ______________ - Answer -worldwide
interdependence
Describe learning organization - Answer -- human capital
- teamwork
- demise of "command and control"
- technology
, - networking
- workplace expectations
- work - life balance
- spees
What are the critical survival skills for the new workplace? - Answer -- mastery
- networking
- entrepreneurship
- technology
- marketing
- renewal
Classical Model - Answer -acting rational in a certain world
Optimizing decision - Answer -absolute best solution to the problem
Behavioral Model - Answer -act with partial knowledge
Satisficing decision - Answer -choosing best satisfactory alternate that comes to your
attention
5 step decision making process - Answer -1. Identify and define the problem
2. Generate and evaluate alternate courses of action
3. Chose a preferred course of action
4. Implement the decision
5. Evaluate results
1. Identify and define the problem - Answer -mistakes that can be made in this process:
- identifying problem to boldly/narrowly
- focusing on symptoms
- wrong problem to deal with
2. Generate and evaluate alternative courses of action - Answer -- decisions have
unintended consequences
--- positive/negative side effects
- cost benefit analysis = comparing cost of analysis for different decisions
3. Choose a preferred course of action - Answer -- classical model
- behavioural model
- satisficing decision
- optimizing decision
bounded rationality: rational only within boundries
4. Implement the decision - Answer -lack of participation errors difficulties encountered
- failure to adequately involve in process individuals whose support is necessary
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