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Rosalie Mark, vice president of human resources at Black Diamond Incorporated, says that the HR manager in China has been at headquarters sharing what she is doing in China. If Rosalie wants to help Black Diamond to become more of a polycentric organization, she should:

Tell the Chinese HR manager to operate her own office in the way that works best for her country
Allow the Chinese HR manager to do what works best in her country and consider whether the United States and other countries could benefit from Chinese practices
Extend the Chinese HR manager’s stay in the United States to be sure that she has a good understanding of U.S. policies
Make sure the Chinese manager is following corporate directions in China

Pete Metcalf, CEO and lead founder, says that being global is more than selling globally. Which of the following pieces of information would give Mr. Metcalf information about how well his company is doing at being global? Check all that apply.
Expatriate failure rates
The number of local (host-country) managers supervising overseas operations
Return on assets for global products
The number of transnational teams currently working on significant company projects
Company’s overall debt-to-worth ratio
 
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What are the skills used by managers when performing the four functions of management?

Select one:

a. Functional, problem-solving, and technical

b. Communication, strategic, and innovative

c. Conceptual, human, and technical

d. Analytical, interpersonal, and financial

e. Conceptual, interpersonal, and organizational

Which of these refers to an unincorporated business owned by an individual for profit?

Select one:

a. Association

b. Trade alliance

c. Partnership

d. Sole proprietorship

e. Corporation

Clear my choice

Whereas scientific management focused on ______ , administrative principles approach focused on the _______.

Select one:

a. employee competence, work flow through the organization

b. organization productivity, individual effort

c. employee ability, employee loyalty

d. efficient procedures, management by principle

e. individual productivity, total organization

The Forestville Freeze is regionally known for its employee training programs. Managers at the Freeze conduct research to determine the best candidate interviewing techniques. This involves use of which management approach?

a. Humanistic approach

b. Bureaucratic approach

c. Administrative principles approach

d. Scientific management approach

e. Behavioral sciences approach

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

Select one:

a. Corporation

b. All of these are appropriate legal structures for an entrepreneurial company.

c. Proprietorship

d. Trade alliance

e. Partnership

Culture tends to differ between ____, but appears similar within ____.

Select one:

a. industries, geographical regions

b. people, organizations

c. groups, industries

d. organizations, groups

e. organizations, industries

 
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One of the first characteristics or points of a successful business plan is

Select one:

a. demonstrate a clear, compelling vision that creates an air of excitement.

b. essential information about funding received so far.

c. the entrepreneur’s background and role in the company.

d. the key ingredient of the business that will attract million of customers.

e. a profile of potential customers and market needs.

Managers, in today’s work environment, rely less on ____ and more on ____ leadership.

Select one:

a. empowerment and innovation; productivity and efficiency

b. effectiveness and efficiency; quality and profit

c. coordination and communication; control and command

d. autocratic; empowering

e. ethics and social responsibility; profit and cost-savings

Carrie’s Car Care receives more than 25% of its total sales revenues from operations outside of Trinidad and Tobago. Carrie’s would be considered a

a. multinational corporation.

b. globalization corporation.

c. None of these.

d. foreign national.

e. wealth company.

 
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Romeo head, owner of Wanky, Sweet Shoes must place orders with an athletic shoe manufacturer 6 months prior to the time the shoes go on the shelf. Specifically, Ravi must decide on October 1st how many pairs of the manufacturer’s newest “Mud Puppy” model to order for sale during the upcoming 2022 spring/summer season. This popular model costs the store $88. per pair. Furthermore, each pair can be sold to customers at $175 per pair. Any pairs unsold at the end of the summer season will be sold in a closeout sale next fall for $74 per pair. The probability distribution of consumer demand for these shoes during the upcoming season has been estimated as follows:
Demand Probability
140 0.05
165 0.23
190 0.35
215 0.31
240 0.06
Romeo also knows from experience that if their stores are stocked out (i.e., no more inventory) and the customer wants it, he will lose business from other related products because customers will shop at his competitors in the future and probably never return. He quantifies lost sales to be valued at $33.00 per pair whenever customer demand for this shoe exceeds his supply.

Help Romeo determine the right number of pairs of Mud Puppies to order for the upcoming year by answering the questions below. The manufacturer will take orders only for multiples of 10. Assuming the demand and costing information above is accurate, answer the following questions* by developing a spreadsheet model using Excel (DO NOT use paper and pencil for this question):
Construct a payoff matrix.
a) What decision should be made according to the EMV decision rule?
b) What decision should be made according to the maximax decision rule?
c) What decision should be made according to the maximin decision rule?
d) What decision should be made according to the minimax regret decision rule?
e) What decision should be made according to the EOL decision rule?
f) What is the very most that Romeo should be willing to pay to obtain a forecast of customer demand that is 100% accurate?
g) Which decision rule would you recommend Romeo use? Provide a clear explanation why you are recommending a particular decision rule.

 
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