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COB 300 Management Final Exam Study Guide well answered to pass
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COB 300 Management Final Exam Study Guide well answered to pass
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COB 300 Management Final Exam StudyGuide
Chinese term for energy - correct answer ✔✔qi
The Lucky Dragon Case Study Main Points - correct answer ✔✔- Cultural Issues: Americans are very
individualistic, people in Hong Kong focus on collectivism
- Outlook on Medicine: Western countries use medicines and pharmaceuticals, in Asian counties eastern
medicine is utilized (acupuncture and cupping)
- Operations: additional costs
- Market Research: they (Hong Kong) would ask their customers what to sell
- Finance: what additional expenses to account for
- Management: how to manage companies overseas v. domestically
Three Types of Managers - correct answer ✔✔1. Ethnocentric
2. Polycentric
3. Geocentric
Ethnocentric Managers - correct answer ✔✔- "We know best"
- They believe their native country, culture, language, and behavior are superior to others
- Nobody else can do well... "send them Americans" or "I will do it myself"
- "Not-Invented-Here Syndrome"
Not Invented Here Syndrome - correct answer ✔✔Syndrome in which people, e.g. managers, refuse to
use perfectly good ideas developed elsewhere in favor of their " sometimes inferior " internally-
developed ideas.
Polycentric Managers - correct answer ✔✔- "They know best"
, - They believe managers in foreign offices best understand native culture, staff, and practices and should
be left along by the home office
- Many things that are done in countries that are done really well -- if a HQ found a plan that works really
well.for them, why wouldn't they use it in a different country?
Geocentric Managers - correct answer ✔✔- "What is best is what is effective, regardless of origin"
- This is the type of manager you should strive to be
- "I do not care where the idea came from, we are going to do what is best for the company"
US Statistics v. World - correct answer ✔✔- 38th in math
- 24th in science
- 19th in world's happiness index
- 23rd in terms of corruption
Corruption - correct answer ✔✔dishonest or illegal behavior especially by powerful people, it is the
abuse of entrusted power for private gain, has an impact on the country itself but also the happiness of
its citizens
Three Types of Corruption - correct answer ✔✔1. Petty
2. Political
3. Grand
Petty Corruption - correct answer ✔✔refers to everyday abuse of entrusted power by low and mid-level
public officials in their interactions with ordinary citizens, who are trying to access basic goods or
services in places like hospitals, schools, police departments, and other agencies
Example of Petty Corruption - correct answer ✔✔In Mexico people would give police officers their
license and cash to avoid a ticket after being pulled over
Political Corruption - correct answer ✔✔is a manipulation of policies, institutions, and rules of procedure
in the allocation of resources and financing by political decision makers, who abuse their power to
sustain their power, status, and wealth
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