Chap006
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Chap006

Course Number: MGMT 300, Spring 2009

College/University: Citadel

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Chapter 06 - International Management Chapter 06 International Management True / False Questions 1. (p. 210) The Maastricht Treaty formally established the trade area in North America. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 2. (p. 210) North America, South America and Africa are the three spheres of economic influence that are...

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06 Chapter - International Management Chapter 06 International Management True / False Questions 1. (p. 210) The Maastricht Treaty formally established the trade area in North America. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 2. (p. 210) North America, South America and Africa are the three spheres of economic influence that are most dominant in the global environment. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 3. (p. 210) The goal of the unified Europe is to strengthen Europe's economic position vis--vis the United States. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 1 6-1 Chapter 06 - International Management 4. (p. 212) Japan is America's third largest export market and the fourth largest source of American imports. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 5. (p. 214) NAFTA created one of the world's largest trading blocs. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 6. (p. 214) NAFTA has had an immediate and negative effect on the U.S. automobile industry. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 7. (p. 214) Members of APEC include South Korea, the United States, Australia and India. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 1 6-2 Chapter 06 - International Management 8. (p. 216) To maintain its strong growth for the foreseeable future, Starbucks has been expanding aggressively overseas. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 9. (p. 217-218) Foreign direct investment flows to less-developed countries by firms in developed countries has dropped substantially. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 2 10. (p. 218) One consequence of an increasingly integrated global economy is imports that are penetrating deeper into the world's largest economies. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 2 11. (p. 221) Off shoring occurs when the organization contracts with an outside provider to produce one or more of an organization's products or services. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 6-3 Chapter 06 - International Management 12. (p. 223) Universal needs exist when the tastes and preferences of consumers in different countries, with regard to a product, are similar. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 3 13. (p. 223) The national organization model is designed to help companies exploit their existing core capabilities to expand into foreign markets. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 14. (p. 224) When there are differences in traditional practices among countries, pressures for local responsiveness emerges. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 3 15. (p. 227) Companies that adopt the global model tend to those pursuing a cost focus as a competitive strategy. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 6-4 Chapter 06 - International Management 16. (p. 227) Transnational companies are companies that produce products in one country and export these products to many overseas countries. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 17. (p. 230) A drawback of exporting is that high transportation costs can make it uneconomical, particularly in the case of bulk products. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 18. (p. 231) Licensing is primarily utilized by manufacturing industries while franchising is used more often in service industries. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 19. (p. 231) The advantages of franchising as an entry mode to global expansion are similar to the disadvantages of licensing. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 6-5 Chapter 06 - International Management 20. (p. 232) The least preferred strategy when a company's competitive advantage is based on technology is the wholly owned subsidiary. FALSE AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 4 21. (p. 232) Parent-company nationals who are sent to work at a foreign subsidiary are known as expatriates. TRUE AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 5 22. (p. 233, Table 6.3) Cultural shock is an example of an executive coping strategy for international assignments. FALSE AACSB: Group/individual dynamics Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 5 23. (p. 234) The major reason human resource managers cite for failure rate among expatriates is family issues. FALSE AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 6 6-6 Chapter 06 - International Management 24. (p. 237) Ethnocentrism is the tendency for people to judge foreign peoples or groups by the standard's of their home county. FALSE AACSB: Group/individual dynamics Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 7 25. (p. 238) According to Geert Hofstede's model, the U.S. is labeled as a large power distance, collectivist culture. FALSE AACSB: Group/individual dynamics Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 7 26. (p. 239) Cross-cultural management extends beyond U.S. employees going abroad. TRUE AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 7 27. (p. 240) Ethical behavior and decision making is (surprisingly) harder in a purely domestic situation than in the international arena. FALSE AACSB: Ethical understanding/reasoning abilities Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 7 6-7 Chapter 06 - International Management Multiple Choice Questions 28. (p. 210) The areas described in the text as the most dominant in the global economy include: A. North America, Western Europe and Asia B. North America, Mexico and Asia C. North America, South America and Western Europe D. North America, Asia and Africa E. Western Europe, Asia and Africa AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 29. (p. 210) Which of the following is NOT a goal of the European Union? A. Eliminate trade barriers with the European Union B. Create a more competitive Europe C. Become an economic superpower D. Establish the euro as a common currency E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 1 30. (p. 210) Under (the) ___________ member countries have agreed to adopt a common European currency called the euro. A. NAFTA B. Maastricht Treaty C. GATT Agreement D. APEC Treaty E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 6-8 Chapter 06 - International Management 31. (p. 210) To be competitive in a global economy, Europeans must increase their level of: A. Population density B. Productivity C. Espionage activity D. Philanthropic contributions E. Financial subsidy AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 1 32. (p. 212) Which country does the text describe as becoming the largest producer and consumer of many of the world's goods? A. Japan B. Canady C. Mexico D. China E. Ecuador AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 33. (p. 213) One study found that manufacturing labor costs about ___ an hour in China, compared to ____ dollars in the United States. A. Less than $1; about 15 B. About $2; about 15 C. Less than $1; about 25 D. $2; about 25 E. Less than $1; about 40 AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 1 6-9 Chapter 06 - International Management 34. (p. 214) NAFTA combined the economies of: A. The U.S., Canada and Mexico B. Canada, Mexico and South America C. South America, the U.S. and Latin America D. Latin America, Pacific Rim and the E.U E. The U.S., the E.U. and North America AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 1 35. (p. 214) The passage of NAFTA has provided short-term benefits to all of the following industries EXCEPT: A. The auto industry B. Grain producers C. The financial industry D. Capital-goods suppliers E. All of the above have benefited AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 36. (p. 214) Although the U.S. has had a longstanding agreement with ___________ after the passage of NAFTA, _________ became the United States' second largest trading partner. A. Canada, Venezuela B. Canada, Mexico C. Mexico, Canada D. Mexico, Venezuela E. Great Britain, Paraguay AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 6-10 Chapter 06 - International Management 37. (p. 215) Which of the following existing agreements includes Guatemala, Honduras and the United States? A. NAFTA B. CAFTA-DR C. FTAA D. APEC E. ASEAN AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 1 38. (p. 215) Which country does the text describe as having become an important provider of online computer and software support for the U.S.? A. Egypt B. Great Britain C. India D. Mexico E. Taiwan AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 1 39. (p. 218) Consequences of global integration include all of the following EXCEPT: A. World output and trade have grown at a dramatic pace B. Many companies find their home markets under attack from foreign competition C. Companies are making foreign investments in overseas operations D. Imports are failing to penetrate deeper into the world's largest economies E. All of the above are consequences of global integration AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 2 6-11 Chapter 06 - International Management 40. (p. 218-219) Today's managers operate in an environment that is _______ complex and competitive and offers more ______________. A. More, profit B. Less, profit C. More, opportunities D. Less, opportunities E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 2 41. (p. 219) Operating in a global marketplace is considered more complex because: A. Managers must compete with cost-efficient overseas competitors B. The lessening of trade barriers has presented many opportunities in previously protected markets C. Many overseas competitors operate with greater economies of scale D. Of varying cultures and coordination of globally dispersed operations E. International management is relatively risk-free as compared to domestic management AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 2 42. (p. 220, Table 6.1) Which of the following companies is NOT included in the "Fortune Global 500 2006" Top 25? A. Wal-Mart B. Chevron C. Ford Motor Company D. Microsoft E. Conoco Phillips AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 2 6-12 Chapter 06 - International Management 43. (p. 221) ____________ occurs when the organization contracts with an outside provider to produce one or more of an organization's products or services. A. International development B. Outsourcing C. Offshoring D. Expatriation E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 44. (p. 221) ____________ occurs when the outside provider of an organization's goods or services is located abroad. A. International development B. Outsourcing C. Offshoring D. Expatriation E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 45. (p. 222) Insourcing occurs when jobs are: A. Brought to the United States by foreign companies B. Taken out of the United States by foreign companies C. Taken to a third country D. Restructured to keep them in their home country E. None of the above is correct AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 2 6-13 Chapter 06 - International Management 46. (p. 222-223) When considering whether to offshore, managers should consider all of the following EXCEPT: A. What is the competitive advantage of the products offered? B. Is the business in its early stages? C. Can production savings be achieved locally? D. Can the entire supply chain be improved? E. All of the above are correct AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 2 47. (p. 223) When identifying the best strategy for competing in a global marketplace, it is helpful to plot a company's position on a(n): A. Leadership grid B. Force field analysis grid C. Integration-responsiveness grid D. Cost-benefit grid E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 2 48. (p. 223) The grid used for identifying the best strategy for competing in a global marketplace measures what two dimensions? A. Pressures for global integration and pressures for local responsiveness B. Pressure for local interaction and pressures for global responsiveness C. Financial viability and employee satisfaction D. Employee satisfaction and management credibility E. Pressures for global systems capacity and pressures for local financial success AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 2 6-14 Chapter 06 - International Management 49. (p. 223) Pressure for global integration includes: A. Pressures to reduce costs B. Variances in traditional practices C. Political demands imposed by host countries D. Consumer preferences E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 2 50. (p. 223) Which of the following is NOT one of the global strategies discussed in the text? A. International model B. Multinational model C. Global model D. Transnational model E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 51. (p. 223) The model in which managers use their organization's existing core capabilities to expand into foreign markets is called: A. International model B. Multinational model C. Global model D. Transnational model E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 6-15 Chapter 06 - International Management 52. (p. 223) The choice of whether to follow a global model or a multinational model is decided by comparing the A. Pressures for global integration to the pressures for local responsiveness B. Success of global competitors in each strategy C. Costs of producing in separate facilities to the costs of producing in a single facility D. Tastes and preferences of consumers in varying countries where you intend to compete E. Need for product differentiation across international borders AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 3 53. (p. 223) Models of organizational structure identified in the text's chapter on international management include all of the following EXCEPT: A. Global structure B. Multinational structure C. Transnational structure D. Worldwide structure E. International structure AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 54. (p. 223-224) Which of the following is NOT a reason to pursue a global strategy? A. Pressure to reduce costs through coordination of purchasing B. Universal needs C. Simplicity and ease of management D. Pressures to reduce costs in manufacturing E. All of the above are valid reasons AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 3 6-16 Chapter 06 - International Management 55. (p. 224-225) Pressure for local responsiveness includes: A. Varying consumer preferences B. Varying sales and distribution patterns C. Varying traditions D. Varying political demands E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 56. (p. 225) _______________ includes threats of protectionism, economic nationalism and local rules. A. Differences in distribution channels B. Differences in traditional practices C. Economic and political demands D. Differences in consumer tastes E. Global market integration AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 3 57. (p. 226) The Disney Corporation has marketed its facility in France somewhat differently than its United States facilities in order to appeal to the European consumer. This type of strategy is known as __________ model. A. Domestic B. International C. Multinational D. Transnational E. Global AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 6-17 Chapter 06 - International Management 58. (p. 226) Evans Manufacturing has subsidiaries in each country in which it does business and provides a great deal of discretion to those subsidiaries to respond to local conditions. Each subsidiary has its own manufacturing, marketing, research and human resource functions. This illustrates the: A. International model B. Multinational model C. Global model D. Transnational model E. Intranational model AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 59. (p. 226) The model which is appropriate where global efficiency is not required but adapting to local conditions offers advantages is: A. International model B. Multinational model C. Global model D. Transnational model E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 6-18 Chapter 06 - International Management 60. (p. 226) Schacter Corporation has subsidiaries in each country in which it does business. As the parent company, Schacter transfers its core skills in technology and R&D overseas so that each subsidiary remains dependent on it for new products, processes and ideas. This illustrates the: A. International model B. Multinational model C. Global model D. Transnational model E. Intranational model AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 3 61. (p. 226) The international model of organizational structure consists of: A. Large low-cost manufacturing facilities located in selected locations with products exported to various subsidiaries B. Subsidiaries located in countries where the company does business with much of the control exercised by the parent company C. Subsidiaries located in countries where the company does business with much of the control exercised by the subsidiaries D. Manufacturing various components at appropriate sites and assembling the components at national subsidiaries E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 6-19 Chapter 06 - International Management 62. (p. 226) The multinational model of organization structure consists of: A. Large low-cost manufacturing facilities located in selected locations with products exported to various subsidiaries B. Subsidiaries located in countries where the company does business with much of the control exercised by the parent company C. Subsidiaries located in countries where the company does business with much of the control exercised by the subsidiaries D. Manufacturing various components at appropriate sites and assembling the components at national subsidiaries E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 63. (p. 226) Companies that decentralize their operations throughout the globe in order to appeal to the varying tastes and preferences of global consumers are utilizing a _____________ model. A. Domestic B. International C. Multinational D. Transnational E. Global AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 3 6-20 Chapter 06 - International Management 64. (p. 226) Competing globally under the assumption that consumer tastes and preferences in varying countries differ is referred to as a ____________ model. A. Consumer-focused B. Transnational C. Multinational D. Global E. Domestic Domestic AACSB: and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 65. (p. 226-227) In which models of organization structure are manufacturing costs relatively high? A. Global and transnational B. International and transnational C. Multinational and international D. Global and international E. Multinational and transnational AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 66. (p. 227) Sensor, Inc. is a company that views the entire world as one market and assumes that there are no tangible differences among countries with regard to consumer tastes and preferences. Sensor, Inc. illustrates the: A. International model B. Multinational model C. Global model D. Transnational model E. Intranational model AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 6-21 Chapter 06 - International Management 67. (p. 227) The model designed to enable a company to market a standardized product in the global marketplace and to manufacture the product in a limited number of locations is called the: A. International model B. Multinational model C. Global model D. Transnational model E. All of the above are appropriate models AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 68. (p. 227) The global strategy that enables managers to "think globally but act locally" is called the: A. International model B. Multinational model C. Global model D. Transnational model E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 3 69. (p. 227) Which organizational structure realizes the advantage of local responsiveness but the disadvantage of high manufacturing costs? A. Transnational B. Global C. Worldwide D. International E. Multinational AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 6-22 Chapter 06 - International Management 70. (p. 227) A disadvantage of a multinational model is that: A. Problems in transferring core skills are created B. Each subsidiary must respond to specific consumer needs C. Transfer pricing presents difficulties D. Manufacturing costs are generally higher E. Coordination of efforts between countries is simpler AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Medium Learning Objective: 3 71. (p. 227-228) Transnational companies: A. Require effective communication and coordination networks B. Realize pressures for local responsiveness and cost economies C. May centralize production facilities in one location and marketing functions in separate locations D. Must effectively transfer core skills or know-how E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 3 72. (p. 228) In order to achieve cost economies, Tull and Ward Company bases production plants for labor-intensive products in low-wage countries such as Mexico and locates production plants that require skilled workers in high-skill countries like Japan. This illustrates the: A. International model B. Multinational model C. Global model D. Transnational model E. Intranational model AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 6-23 Chapter 06 - International Management 73. (p. 228) Which of the following companies is an example of a transnational company? A. Sony B. IBM C. Coca Cola D. Caterpillar E. Unilever AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 3 74. (p. 228) Companies that may use global-scale production plants for labor-intensive products in low-wage countries such as Mexico or Singapore would be an example of the _______________. A. Transnational organization model B. Ethnocentric organization model C. World assembly organization model D. Domestic organization model E. Regional organization model AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 75. (p. 228) The transnational model of organizational structure consists of: A. Large low-cost manufacturing facilities located in selected locations with products exported to various subsidiaries B. Subsidiaries located in countries where the company does business with much of the control exercised by the parent company C. Subsidiaries located in countries where the company does business with much of the control exercised by the subsidiaries D. Manufacturing various components at appropriate sites and assembling the components at national subsidiaries E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 6-24 Chapter 06 - International Management 76. (p. 228) The Red Fox Corporation manufactures engines for its trucks in a central location in order to attain cost economies and then sends these engines to various subsidiaries for final assembly to the truck bodies in order to meet local safety specifications. This type of organizational structure is referred to as: A. Global B. Transnational C. International D. World assembly E. Worldwide AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 3 77. (p. 228) Which of the models of organization structure depends most heavily on communication and coordination between subsidiaries? A. The global model B. The transnational model C. The international model D. The worldwide model E. The multinational model AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 3 78. (p. 229) Exporting, licensing, franchising, joint ventures and wholly owned subsidiaries are all methods of: A. Extracting consumers on a global scale B. Operating transnationally C. Entering overseas markets D. Optimizing global profit E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 4 6-25 Chapter 06 - International Management 79. (p. 229) Advantages of exporting as a global expansion entry mode are that: A. Economies of scale may be realized B. The target site may have lower production costs C. Transportation costs are generally lower D. It is considered responsive to local needs E. Trade barriers may be imposed AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 80. (p. 229) Most manufacturing companies begin global expansion through which entry mode? A. Exporting B. Wholly-owned subsidiary C. Franchising D. Licensing E. Joint venture AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 81. (p. 229-230) Exporting is: A. A common entry strategy for global expansion B. Manufacturing a product in one location and exporting to consumers in global markets C. Consistent with a pure global strategy D. Expensive E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 6-26 Chapter 06 - International Management 82. (p. 230) A disadvantage of exporting is that: A. It is quite risky B. You may not be realizing the lowest production costs possible C. It is the most expensive method of expanding globally D. It usually lowers trade barriers E. It is inconsistent with a pure global strategy AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 83. (p. 230) Selling the rights to manufacture your company's product to an overseas company for a negotiated fee is: A. Franchising B. Licensing C. Entering a joint venture D. Exporting E. Royalty facilitation AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 4 84. (p. 230) An advantage of licensing as a method of entering global competition is: A. That the licensing company takes on less risk and expense B. That the licensing company has control over its technology C. That the licensing company has control over quality levels D. That the licensing company utilizes lower production costs E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 6-27 Chapter 06 - International Management 85. (p. 230) A disadvantage of licensing is that: A. The licensing company may lose control over its technology B. The licensing company takes on greater political risk C. The licensing company takes on greater development costs D. The licensing company realizes higher profit margins E. All of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 86. (p. 231) Selling the rights to use your company's brand name in return for a lump-sum payment and a share of the profits generated is referred to as: A. Franchising B. Licensing C. Entering a joint venture D. Exporting E. Royalty facilitation AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 4 87. (p. 231) A disadvantage of franchising is that A. Loss of control over quality levels may affect an organization worldwide B. Loss of control over technology may affect future profits C. Loss of control over technology may affect an organization's ability to gain a worldwide reputation D. Development costs are greater presenting a higher level of risk in worldwide operations E. Loss of control over technology and quality may erode a company's ability to develop local markets AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 4 6-28 Chapter 06 - International Management 88. (p. 231) An advantage of joint ventures in the international marketplace is: A. The local partner may have a greater knowledge of local consumer tastes and preferences B. The local partner may have a greater understanding of local business practices and regulations C. Costs of developing the new market are shared with the joint venture partner D. The risks of entering the new market are shared with the joint venture partner E. All of the above are advantages of joint ventures AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 89. (p. 232) A disadvantage of entering global competition through a joint venture is: A. That it may present political roadblocks B. The partner's knowledge of local tastes and preferences may interfere with standardized operations C. Your partner and you may disagree on which of you controls various aspects of the venture D. It is a seldom used strategy, offering many unknowns E. All of the above are disadvantages of joint ventures AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 4 90. (p. 232) When a company sets up overseas operations, independent of foreign partners or governments, they have established: A. A purely global strategy B. Unfavorable relations with local parties C. A wholly owned subsidiary D. An independent venture E. Multinational proportions AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 4 6-29 Chapter 06 - International Management 91. (p. 232) The greatest disadvantage of operating a wholly owned subsidiary is: A. That a loss of technology is likely to occur B. Quality levels are difficult to monitor overseas C. High costs and risk are associated with this type of operation D. That overseas consumers are often resentful of foreigners E. All of the above are disadvantages of wholly owned subsidiaries AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 92. (p. 232) Advantages of operating a wholly owned subsidiary overseas include all of the following EXCEPT: A. Companies may share the control of the use of their technology B. Companies share the costs of operating overseas C. Companies can realize higher production costs by relocating D. Companies singularly control the risks of overseas operations E. None of the above are advantages of wholly owned subsidiaries AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 4 93. (p. 232) Individuals sent from a company's parent country to work in overseas operations are referred to as: A. Third-country nationals B. Host-country nationals C. Globalite executives D. Expatriates E. None of the above AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 5 6-30 Chapter 06 - International Management 94. (p. 232) Jeanette Thompson, a native Texan is being sent by her company, Nestle of Switzerland, to head up a new facility in Hong Kong. Jeannette would be considered a(n): A. Host-country national B. Third-country national C. Global trotter D. Globalite executive E. Expatriate AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Hard Learning Objective: 5 95. (p. 233) Hillary has just agreed to participate in her first expatriate experience. The first thing her employer should do is: A. Seek advice from locals and expatriate network B. Encourage support-seeking behavior C. Clarify expectations D. Encourage self-and family evaluation E. Punish dual identification AACSB: Group/individual dynamics Blooms taxonomy: Application Difficulty: Medium Learning Objective: 5 96. (p. 234) The trend away from using expatriates in top management positions is especially apparent in companies trying to create a __________ culture. A. Multinational B. Transnational C. International D. Global E. Equally evident in all of the above AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 5 6-31 Chapter 06 - International Management 97. (p. 234) It is estimated that nearly ___ percent of all employee transfers are to an international location. A. 75 B. 50 C. 15 D. 25 E. 40 AACSB: Domestic and global economic environments Blooms taxonomy: Knowledge Difficulty: Hard Learning Objective: 6 98. (p. 234) The biggest cause of failure of overseas managers is: A. A lack of technical capability B. Problems with a families' ability to adjust C. Problems with the manager's ability to adjust D. All of the above E. None of the above AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 6 99. (p. 237) The disorientation and stress associated with being in a foreign environment is termed: A. Foreign mores B. Homesickness C. Culture shock D. Out-of-country experience E. Uncertainty distance AACSB: Group/individual dynamics Blooms taxonomy: Knowledge Difficulty: Easy Learning Objective: 6 6-32 Chapter 06 - International Management 100. (p. 238) Colin McKay has been assigned to manage an operation in Venezuela. Upon his arrival he encouraged all of his employees (native Venezuelans) to feel free to individually approach him with ideas on improving operations. After many months, no employees had offered suggestions. Colin should have realized that Venezuelan culture has not only a _____ degree of collectivism but accepts a ______ power distance. A. Low, small B. Low, large C. High, large D. High, small AACSB: Group/individual dynamics Blooms taxonomy: Application Difficulty: Hard Learning Objective: 7 101. (p. 238) In Hofstede's chart showing individualism/collectivism and power distance, the United States is most like: A. France B. Mexico C. New Zealand D. Austria E. Japan AACSB: Group/individual dynamics Blooms taxonomy: Comprehension Difficulty: Hard Learning Objective: 7 102. (p. 240) Steps for establishing and reinforcing the codes of conduct for international business include(s) which of these? A. Communicating the company's values B. Taking action when standards are violated C. Measuring ethical performance D. Rewarding people for meeting ethical standards E. All of the above AACSB: Group/individual dynamics & Ethical understanding/reasoning abilities Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 7 6-33 Chapter 06 - International Management 103. (p. 241) Despite differences across cultures, research suggests that regardless of nationality or religion, most people embrace all of the following values EXCEPT: A. Respect for others B. Fairness C. Compassion D. Honesty E. All of the above are values most people embrace AACSB: Group/individual dynamics & Ethical understanding/reasoning abilities Blooms taxonomy: Comprehension Difficulty: Easy Learning Objective: 7 6-34 Chapter 06 - International Management Essay Questions 104. (p. 223) Discuss how an organization should identify the best strategy for competing in a global marketplace. Answer will vary. AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 3 105. (p. 230-231) Discuss the advantages of licensing and franchising. In what situations are each of these strategies most appropriate? Answer will vary. AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 4 106. (p. 232-234) What are the pros and cons of using expatriates, host-country nationals and third-country nations to run overseas operations? If you were expanding your business, what approach would you use? Answer will vary. AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Medium Learning Objective: 5 6-35 Chapter 06 - International Management 107. (p. 238) Discuss the four dimensions identified by Geert Hofstede. Choose a country and explain its classification according to Hofstede's model. Answer will vary. AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Medium Learning Objective: 7 108. (p. 240) Discuss how culture plays out in terms of ethical behavior. What can organizations do to manage these issues more effectively? Answer will vary. AACSB: Domestic and global economic environments Blooms taxonomy: Comprehension Difficulty: Medium Learning Objective: 7 6-36 Chapter 06 - International Management Multiple Choice Questions Use the following to answer questions 109-111: Suppose you are a consultant for three companies with international operations. Each of them has selected a different global strategy. Company 1 uses their established skills in producing widgets which they will sell in foreign markets. Company 2 produces locally-targeted wines for which they have built specialized plants in each local region. Company 3 has a single worldwide corporate headquarters from which they centrally manage the entire company's operations. 109. (p. 223) Which global strategy is Company 1 using? A. Global B. International C. Transnational D. Multinational E. Domestic AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Medium Learning Objective: 3 110. (p. 223) Which global strategy is Company 2 using? A. Global B. International C. Transnational D. Multinational E. Domestic AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Medium Learning Objective: 3 6-37 Chapter 06 - International Management 111. (p. 223) Which global strategy is Company 3 using? A. Global B. International C. Transnational D. Multinational E. Domestic AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Medium Learning Objective: 3 Use the following to answer questions 112-114: You have just accepted an international assignment in Sweden. On your first day in the office, you meet several new colleagues. Lars is the manager of the office and is a Swedish citizen; he has been with the company for five years. Sylvie is from France and has also just come to Sweden to work for your U.S. company. 112. (p. 232) You would be referred to as a(n): A. Expatriate B. Host-country national C. Third-country national D. Local provider E. Interloper AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Easy Learning Objective: 5 6-38 Chapter 06 - International Management 113. (p. 232) Lars would be referred to as a(n): A. Expatriate B. Host-country national C. Third-country national D. Local provider E. Interloper AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Easy Learning Objective: 5 114. (p. 233) Sylvie would be referred to as a(n): A. Expatriate B. Host-country national C. Third-country national D. Local provider E. Interloper AACSB: Domestic and global economic environments Blooms taxonomy: Application Difficulty: Easy Learning Objective: 5 Use the following to answer questions 115-117: Manager A is a "rugged individualist" who believes that every person is responsible for him/herself. Manager B is the employee who questions everything not just the decision made but whether or not the decision-maker should have made the decision. 6-39 Chapter 06 - International Management 115. (p. 237) Manager A and Manager B are being described in terms of: A. Personality characteristics B. Cultural differences defined by Geert Hofstede C. Cultural differences defined by Frederick Taylor D. Whether or not they are inpatriates or expatriates E. None of the above AACSB: Group/individual dynamics Blooms taxonomy: Application Difficulty: Easy Learning Objective: 7 116. (p. 237) Manager A could be described as: A. High power distance B. Low power distance C. Individualist D. Collectivist E. High uncertainty avoidance AACSB: Group/individual dynamics Blooms taxonomy: Application Difficulty: Easy Learning Objective: 7 117. (p. 238) Manager B could be described as: A. High power distance B. Low power distance C. Individualist D. Collectivist E. High uncertainty avoidance AACSB: Group/individual dynamics Blooms taxonomy: Application Difficulty: Hard Learning Objective: 7 6-40

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Citadel - MGMT - 300
Chapter 05 - Ethics and Corporate ResponsibilityChapter 05 Ethics and Corporate ResponsibilityTrue / False Questions1. (p. 166) According to public opinion polls, almost half of American respondents don't trust business. TRUEAACSB: Ethical understandi
Citadel - MGMT - 300
Chapter 04 - Planning and Strategic ManagementChapter 04 Planning and Strategic ManagementTrue / False Questions1. (p. 132) The basic planning cycle goes in one dimension into the future. TRUEAACSB: Other management-specific knowledge/abilities Blooms
Citadel - MGMT - 300
Chapter 03 - Managerial Decision MakingChapter 03 Managerial Decision MakingTrue / False Questions1. (p. 88) Managers often ignore problems.TRUEAACSB: Other management-specific knowledge/abilities Blooms taxonomy: Comprehension Difficulty: Easy Learn
Citadel - MGMT - 300
Chapter 02 - The External Environment and Organizational CultureChapter 02 The External Environment and Organizational CultureTrue / False Questions1. (p. 52) The external environment includes all relevant fores outside the organization's boundaries.T
Citadel - MGMT - 300
Chapter 01 - ManagingChapter 01 ManagingTrue / False Questions1. (p. 5-6) According to the opening case, Ray Ozzie has a reputation for being "the ultimate techie", which makes him an ineffective leader.FALSEAACSB: Group/individual dynamics Blooms ta
Citadel - THEA - 200
CHAPTER FOURTEEN CHOOSING A GENRE: COMEDY MATCHING 1. Match the person with the most appropriate statement about him or her. Ming Cho Lee:The set designer of INTARs production of Dog Lady Milcha Sanchez-Scott:The playwright of Dog Lady Rosalinda Luna:The
Citadel - THEA - 200
CHAPTER THIRTEEN GENRE MATCHING 1. Match the person with the most appropriate statement about him or her. Oedipus:Character who murders his father and marries his mother Aeschylus:Author of The Oresteia Agamemnon:Character killed by his wife upon his retu
Citadel - THEA - 200
CHAPTER TWELVE THE ELEMENTS OF DRAMA AND DRAMATIC STRUCTURE MULTIPLE CHOICE 1. Which of the following is not included as a dramatic element in Aristotles The Poetics? A. Plot B. Language C. Dance D. Spectacle Ans: C Page: 374 2. In what century did Aristo
Citadel - THEA - 200
CHAPTER ELEVEN THE MUSICAL THEATRE MATCHING 1. Match the person with the most appropriate statement about him or her. Michael Bennett:Creator and choreographer of A Chorus Line George Bernard Shaw:Author of Pygmalion, upon which My Fair Lady was based Joe
Citadel - THEA - 200
CHAPTER TEN EXPRESSING A WORLDVIEW THROUGH THEATRICALISM MATCHING 1. Match the person with the most appropriate statement about him or her. Oskar Eustis:Dramaturg responsible for the development of Angels in America through its production at the Mark Tape
Citadel - THEA - 200
CHAPTER NINE UNDERSTANDING STYLE: THEATRICALISM MATCHING 1. Match the person with the most appropriate statement about him or her. Samuel Beckett:Author of Waiting For Godot Martha Graham:Modern dance choreographer who composed dance dramas Robert Wilson:
Citadel - THEA - 200
CHAPTER EIGHT EXPRESSING A WORLDVIEW THROUGH REALISM MATCHING 1. Match the person with the most appropriate statement about him or her. Wakako Yamauchi:Playwright of And the Soul Shall Dance Jim Ishida:Director of And the Soul Shall Dance at East West Pla
Citadel - THEA - 200
CHAPTER SEVEN UNDERSTANDING STYLE: REALISM MATCHING 1. Match each statement with the person whom it best describes. Lillian Hellman:American playwright concerned with characters that recognize but fail to act against injustice August Strindberg:Swedish pl
Citadel - THEA - 200
CHAPTER SIX THE DESIGNERS MULTIPLE CHOICE 1. Which of the following is most significant about the set design for the Circle in the Square production of Metamorphoses? A. A large pool of water provided the stage for much of the action of the play. B. The t
Citadel - THEA - 200
CHAPTER 5 THE DIRECTOR MATCHING 1. Match the person with the most appropriate statement about him or her. George II, duke of Saxe-Meiningen:Established an aesthetic for the role of the director in the late 19th century Konstantin Stanislavsky:Most famous
Citadel - THEA - 200
CHAPTER 4 THE ART OF THE ACTOR Test Questions MULTIPLE CHOICE 1. Which of the following is absolutely necessary for theatre to happen? A. A playwright B. A theatre C. An actor D. Costumes Ans: C Page: 111 2. What do almost all performers go through in ord
Citadel - THEA - 200
CHAPTER 3 THE PLAYWRIGHTS VISION TEST QUESTIONS MATCHING 1. Match the person with the most appropriate statement about him or her. Bessie Smith:Blues singer who influenced playwright August Wilson Bynum Walker:Character in Joe Turners Come and Gone; calle
Citadel - THEA - 200
CHAPTER 2 THEATRE AS A MIRROR OF SOCIETY TEST QUESTIONS MATCHING 1. Match the key person or term with its definition. Kabuki:Japanese theatre based on the language of gesture Christopher Marlowe:Contemporary of William Shakespeare who also wrote plays Eli
Citadel - THEA - 200
CHAPTER 1 THE IMPULSE TO PERFORM: ORIGINS Test Questions MATCHING 1. Match the key term with its definition. The Kwakwakawkw:Indigenous people of the Pacific Northwest coast Day of the Dead:A ritual of Hispanic heritage to remember family members who have
Citadel - FIN - 319
CHAPTER 24 Government Regulation of Risk Management and InsuranceWHY INSURANCE IS REGULATED Future Performance Complexity Unknown Future Costs Violations of Public Trust THE LEGAL BACKGROUND OF REGULATION THE McCARRAN-FERGUSON ACT FEDERAL VERSUS STATE RE
Citadel - FIN - 319
CHAPTER 23 Functions and Organization of InsurersFUNCTIONS OF INSURERS Production (Sales) Underwriting The Objective of Underwriting Services That Aid the Underwriter Policy Writing Conflict between Production and Underwriting Underwriting Associations R
Citadel - FIN - 319
CHAPTER 22 Risk Management and the Insurance IndustryTHE FIELD OF INSURANCE Personal Coverages Property Coverages Private and Public Insurance Voluntary and Involuntary Coverages TYPES OF INSURERS Stock Companies Mutual Companies Class Mutuals Farm Mutua
Citadel - FIN - 319
CHAPTER 21 Financial and Estate PlanningFINANCIAL PLANNING ESTATE PLANNING Estate Transfer Costs Debts Administrative Costs Death Taxes Estate Planning Tools Wills Life Insurance Gifts Trusts A CASE STUDY: THE JOHNSON FAMILY The Facts of the Case Risk of
Citadel - FIN - 319
CHAPTER 20 Employee Benefits: Retirement PlansSOCIAL SECURITY RETIREMENT BENEFITS Relationship of Work History to Benefit Amount Benefits Payable to Retired Workers Benefits Payable to Spouses and Children Taxation of Benefits PENSION PLANS Traditional D
Citadel - FIN - 319
CHAPTER 19 Employee Benefits: Life and Health BenefitsREASONS FOR EMPLOYEE BENEFITS Employee Relations Tax Advantages PREMATURE DEATH BENEFITS Social Security Benefits Distinguishing Features of Group Insurance Underwriting Unit Is a Group Lower Expenses
Citadel - FIN - 319
CHAPTER 18 Retirement Planning and AnnuitiesSTRUCTURE OF ANNUITIES ANNUITY CHARACTERISTICS How Are Annuity Premiums Paid? When Do Benefits Begin? How Long Are Benefits Payable? Annuity Certain Straight Life Annuity Joint and Survivor Annuity Period-Certa
Citadel - FIN - 319
CHAPTER 17 Loss of HealthHEALTH INSURANCE PROVIDERS Insurers and the Blues Health Maintenance Organizations Point-of-Service Plans Preferred Provider Organizations Medicaid and Medicare MECHANICS OF COST SHARING Deductibles Copays Coinsurance Caps Maximu
Citadel - FIN - 319
CHAPTER 16 Loss of LifeTYPES OF LIFE INSURANCE Term Insurance Duration of Term Coverage Coverage Options and Guarantees Face Amount Variability Whole Life Insurance Universal Life Insurance Other Types of Life Insurance Variable Life Variable Universal L
Citadel - FIN - 319
CHAPTER 15 Risk Management for HomeownersHOMEOWNERS PROGRAM: DEVELOPMENT Concise Language Multiple-Line Minimum Amount of Coverage Lower Cost OUTLINE OF HOMEOWNERS COVERAGES ANALYSIS OF HOMEOWNERS POLICY HO-3 Coverage ADwelling HO-3 Coverage BOther Struc
Citadel - FIN - 319
CHAPTER 14 Risk Management for Auto OwnersPart IIWHERE DOES THE AUTO INSURANCE PREMIUM GO? AUTO DEATH RATES CAR THEFT COST CONTAINMENT Loss Control and Prevention Restriction of Payments Redistribution of Losses and Expenses NO-FAULT Modified No-Fault Ad
Citadel - FIN - 319
CHAPTER 12 Workers Compensation and Alternative Risk FinancingWORKERS COMPENSATION INSURANCE Major Reform Insurance Methods Private Insurance State Funds and Federal Agencies Self-Insurance Evaluation of Insurance Methods Major Features of State Laws Emp
Citadel - FIN - 319
CHAPTER 13 Risk Management for Auto OwnersPart ITHE HIGH COST OF AUTOMOBILE LOSSES INSURANCE CLAIMS THE NEED FOR INSURANCE PERSONAL AUTOMOBILE POLICY Eligibility Definitions PERSONAL AUTOMOBILE POLICY COMPONENTS Liability Supplementary Benefits Limit of
Citadel - FIN - 319
CHAPTER 11 Risk Management and Commercial Liability RiskCOMMON LIABILITY CONTRACT PROVISIONS The Insuring Clause Supplementary Payments Definition of the Insured Exclusions Limits of Liability Claims-Made versus Occurrence Coverage Basic Extended Reporti
Citadel - FIN - 319
CHAPTER 10 Risk Management and Commercial PropertyPart IITRANSPORTATION INSURANCE The Perils of Transportation The Liability of the Carrier The Carriers Liability in Ocean Transportation The Carriers Liability in Land Transportation Need for Transportati
Citadel - FIN - 319
CHAPTER 9 Risk Management and Commercial PropertyPart ITHE COMMERCIAL PACKAGE POLICY (CPP) Building and Personal Property Coverage Form (BPP) Buildings Your Business Personal Property Personal Property of Others Extensions of Coverage Scheduled versus Bl
Citadel - FIN - 319
CHAPTER 8 Selecting and Implementing Risk Management TechniquesAVOID RISKS IF POSSIBLE IMPLEMENT APPROPRIATE LOSS CONTROL MEASURES Analyzing Loss Control Decisions Present Value Analysis An Example SELECT THE OPTIMAL MIX OF RISK RETENTION AND RISK TRANSF
Citadel - FIN - 319
CHAPTER 7 Insurance as a Risk Management Technique: Policy ProvisionsDECLARATIONS THE INSURING AGREEMENT Named Perils versus All-Risk Agreements Defining the Insured EXCLUSIONS Excluded Perils Perils That Are Basically Uninsurable Perils to Be Covered El
Citadel - FIN - 319
CHAPTER 6 Insurance as a Risk Management Technique: PrinciplesTHE NATURE OF INSURANCE PRINCIPLE OF INDEMNITY PRINCIPLE OF INSURABLE INTEREST What Constitutes Insurable Interest When the Insurable Interest Must Exist PRINCIPLE OF SUBROGATION Reasons for S
Citadel - FIN - 319
CHAPTER 5 Risk Management Techniques: Noninsurance MethodsRISK AVOIDANCE LOSS CONTROL Types of Loss Control Focus of Loss Control Timing of Loss Control Decisions Regarding Loss Control Potential Benefits of Loss Control Potential Costs of Loss Control R
Citadel - FIN - 319
CHAPTER 4 Life, Health, and Loss of Income ExposuresEXPOSURES DUE TO PREMATURE DEATH Executor Fund Income Needs of Survivors Surviving Children Surviving Spouse Other Surviving Dependents Business-Related Exposures Likelihood of Premature Death Needs ver
Citadel - FIN - 319
CHAPTER 3 Property and Liability Loss ExposuresPROPERTY LOSS EXPOSURES Sex and Property Loss Exposures LIABILITY EXPOSURES The High Cost of Airplane Crashes and Other Liability TYPES OF LIABILITY DAMAGES Bodily Injury Property Damage Personal Injury Lega
Citadel - FIN - 319
1Chapter 2: Risk Identification and EvaluationCHAPTER 2 Risk Identification and EvaluationRISK IDENTIFICATION Loss Exposure Checklists Financial Statement Analysis Flowcharts Contract Analysis On-Site Inspections Statistical Analysis of Past Losses RIS
Citadel - FIN - 319
1Chapter 1: Introduction to RiskCHAPTER 1 Introduction to RiskTHE BURDEN OF RISK DEFINITIONS OF RISK Pure versus Speculative Risk Static versus Dynamic Risk Subjective versus Objective Risk SOURCES OF PURE RISK Property Risks Liability Risks Life, Heal
Citadel - FIN - 319
CONTENTSINSTRUCTORS MANUALPART 1: RISK AND THE RISK MANAGEMENT PROCESS Chapter 1: Introduction to Risk 1 Chapter 2: Risk Identification and Evaluation 4 Chapter 3: Property and Liability Loss Exposures 8 Chapter 4: Life, Health, and Loss of Income Expos
Texas A&M - POLS - 206
POLS 206 Exam 2 Review Chapter 3- Federalism Political Systems- Confederal, Unitary, Federal Confederacy- central govt is not sovereign, no power from citizens, regional govt have the power, regions can withdraw at any time. Ex-United Nations Unitary- onl
Virtual University of Pakistan - MTH - MTH 301
Assignment No. 4 MTH 301 (Spring 2010)Maximum Marks: 20Due Date:8th July 2010.DONT MISS THESE Important instructions: To solve this assignment, you should have good command over Lecture 21 to Lecture 29. Upload assignments properly through LMS, (No
Buena Vista - MGMT - 101
Jorran Beebe Term Paper First Draft 6/4/10 In the beginning, Germany was a mixture of people. These people originated from along the Baltic Sea cost and moved their way into the central and southern areas of present-day Germany. At the time there were thr
Buena Vista - MGMT - 101
3. 7. The one unit increase in the right hand side of constraint 1 improves the value of the optimal solution therefore, the dual price for constraint 1 is 1.5 11. The optimal solution does not change. The optimal solution changes to the right. The optima
Buena Vista - MGMT - 101
If the bid is accepted and they pay the five million dollars and it will cost eight million in construction expenses they still stand to make one million dollars in profit because the projected revenue from the condominium sales are fifteen million. If th
Buena Vista - MGMT - 101
The sales forecasters prediction seems to be accurate. Basically they predicted that 20,000 units is the expected demand but there is a .90 probability that the demand will be between 10,000 and 30,000 units which means that 20,000 would be the median. If
Buena Vista - MGMT - 101
Chapter 3 Homework 5. Develop a probability distribution for the job satisfaction score of a senior executive. Develop a probability distribution for the job satisfaction score of a middle manager. What is the probability a senior executive will report a
Buena Vista - MGMT - 101
Business law chapter 24 and 25 Gillian Schroeder Ch. 24 1. What five elements are necessary for the creation of landlord tenant relationship? 1. Consent of the landlord to the occupancy by the tenant, 2. Transfer of possession and control of the property
Buena Vista - MGMT - 101
Business Law- chapters 22 and 23 Gillian Schroeder Chapter 22 1. What are the principle types of Bailment? Give an example of each. Sole benefit for bailor.example- A lady in town did some free outside work at a house, just to get her name out there, and
Buena Vista - MGMT - 101
Business law chapter 24 and 25 Gillian Schroeder Ch. 24 1. What five elements are necessary for the creation of landlord tenant relationship? 1. Consent of the landlord to the occupancy by the tenant, 2. Transfer of possession and control of the property
Buena Vista - MGMT - 101
Business Law Chapters 19 and 20 Gillian Schroeder Ch.19 1. In what 3 ways may express warranties be created? -An advertisement stating that a product that is warranted must tell you how to get a copy of the warranty before you buy the product. -Advertiser
Buena Vista - MGMT - 101
G illian Schroeder Business Law 1 Chapters 10 and 11 Chapter 10 1-3 1. What general presumption does the law make about a persons capacity to contract? O ne would be if the person is mental and enters into a contract. 2. Why does the law allow minors to v
Buena Vista - MGMT - 101
This article is about maintaining and managing the causes and consequences of the environmental change process across a range of sites and landscapes. Coping with the stress and shock of the changing systems is also discussed and how to adapt to them as w
SUNY Stony Brook - BIO - 315
Microorganisms and human disease: General Considerations In general, we want to focus on E tio lo g y - w h a t p a th o g e n c a u s e s a d is e a s e S ig n s a n d s y m p to m s M e c h a n is m o f p a th o g e n ic ity C o m m u n ic a b ility T
SUNY Stony Brook - BIO - 356
BIO 356, Summer 2010 Homework 1 Juhee Kang 106977136 Mating in a population of semalparous frogs occurs each spring. The probability that an egg develops and that the resulting frog survives until the next spring to reproduce is estimated to be 0.012. Giv
N.C. State - CH - 202
N.C. State - CH - 202