What is meant by purchasing power What does purchasing power help a company

What is meant by purchasing power what does

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30. What is meant by purchasing power? What does purchasing power help a company determine? Measured by comparing the relative cost of a standard set of goods in different countries. Helps determine if its good to expand to certain countries or not 31. What are the strategies for dealing with political risk? Avoidance strategy (divesting or selling business) control (active, getting foreign govts involved) 32. What is meant by the term cultural differences? 33. Why do companies provide pre-departure language and cross-cultural training to expatriates? To handle things better when in a foreign country 34. What is the difference between organizational structure vertical and horizontal configuration of departments, authority, or jobs and organizational process collection of activities that transform inputs into outputs that customers value? 35. Be able to recognize the different types of departmentalization (functional organizes worjers into separate units responsible for particular business functions , product organized workers for producing particular products , customer organize workers into certain units responsible for certain types of customers , geographical organizes workers into certain areas , matrix two or more forms of departmentalization are used together ). 36. In terms of chain of command, what’s the difference between line authority right to command and staff authority right to advise? 37. Be able to recognize a line vs staff function in a given scenario. Line- creating or selling the product, staff- accounting, HR, etc 38. What are the three transfers that must occur when manager delegate work to subordinates? Responsibility, authority, and accountability 39. What does standardization mean? Solving problems by consistently applying the same rules and procedures 40. What is the main advantage to decentralization? Workers closest to problems are authorized to make decisions necessary to solve the problems 41. What is likely to result when jobs are specialized? Easy to learn, low in variety, high in repetition 42. What do job rotation periodically moves workers from one specialized job to another , job enlargement increases number of tasks in one specific job and job enrichment increasing
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number of tasks and giving workers the authority to make meaningful decisions about their work mean? 43. Be able to recognize whether a scenario is describing a mechanistic characterized by specialized jobs and responsibilities or organic organization characterized by broadly defined jobs and responsibility . 44.What does reengineering meant? The fundamental rethinking rethinking and radical redesign of business processes to cause dramatic improvements 45. Be able to recognize the different types of interdependencies (pooled each job/department contributes independently to the whole , sequential work must be performed in succession , reciprocal different groups work together in a back and forth manner ). 46. What does empowering employees permanently passing decision making responsibility and authority from managers to workers mean? 47. What does it mean to be a modular organization outsources noncore business activities to outside companies ?
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