MGT230 Questions

MGT/230 » Management Theory and Practice

Chapter 4-6 Questions. Please provide 75-100 word answers.

1. What is in the external environment of organizations? BE SURE YOU CAN • list the key elements in the external environments of organizations • give examples of how present conditions for each element pose immediate challenges to organizations • give examples of how possible future developments for each of these elements might require significant changes in how organizations operate.

2. How do organizations create value and gain competitive advantage in a dynamic environment? BE SURE YOU CAN • describe how a business can create value for four key stakeholders • explain competitive advantage and give examples of how a business might achieve it • analyze the uncertainty of an organization’s external environment using degree of complexity and rate of change.

3. What do we mean by General Environment? How has the management of your organization been influenced by external factors?

4. What are the management challenges of globalization? BE SURE YOU CAN • define globalization and discuss its implications for international management • list five reasons companies pursue international business opportunities • describe and give examples of global sourcing, exporting/importing, franchising/licensing, joint ventures, and foreign subsidiaries • discuss how differences in legal environments can affect businesses operating internationally • explain the goals of the WTO • discuss the significance of regional economic alliances such as NAFTA, the EU, APEC, and SADC.

5. What are global businesses and how do they work? BE SURE YOU CAN • differentiate a multinational corporation from a transnational corporation • list at least three host-country complaints and three home-country complaints about global business operations • give examples of corruption, sweatshops, and child labor in international businesses.

6. Tell the class how you think that management is impacted by globalization.  Do you think that someone who is a good leader in one country will automatically be a good leader in another country?  What key characteristic do you think a person should have to make them successful globally?

7. What is entrepreneurship and who are the entrepreneurs? BE SURE YOU CAN • define entrepreneurship and differentiate between classic and serial entrepreneurs • list key personal characteristics of entrepreneurs • explain the influence of background and experience on entrepreneurs • discuss motivations for entrepreneurship by women and minorities • define social entrepreneurship and social enterprises.

8. How do small businesses get started and what common problems do they face? BE SURE YOU CAN • give the SBA definition of small business • discuss the succession problem in family-owned businesses and possible ways to deal with it • list several reasons why many small businesses fail • explain how business incubators work and how both they and SBDCs can help new small businesses.