POM Quiz Chapter 3

What is the meaning of a global village?

• A world with no boundaries

• A world with limited boundaries

• A world with boundaries only for goods

• A world with boundaries only for services

What does it mean to be 'global' for an organization?

• Exchanging goods and services with consumers in other countries

• Using only managerial talent from other countries

• Using financial sources and resources within the home country

• Exchanging goods and services within the home country

What is the type of organization that operates in multiple countries but adapts its products and services to each individual country's culture and preferences?

• Multidomestic corporation

• Transnational organization

• Global corporation

• International corporation

What is the term used to describe a set of rules or principles that defines right and wrong conduct?

• Ethics

• Values

• Morality

• Personality

What is the term for the process of adapting products and services to meet the specific needs and preferences of local markets?

• Standardization

• Localization

• Globalization

• Adaptation

What is the term used to describe the integration and interdependence of economic, social, cultural, and ecological facets of life, made possible by rapid advances in technology?

• Globalization

• Localization

• Internationalization

• Standardization

What is the term used to describe the process of conducting business activities across national borders?

• International business

• Domestic business

• Global business

• Local business

What is the term for the practice of tailoring products and services to the specific preferences and needs of individual countries?

• Standardization

• Localization

• Globalization

• Adaptation

What is the type of organization that operates in multiple countries and seeks to achieve global efficiency with local responsiveness?

• Multinational corporation

• Transnational organization

• Global corporation

• International corporation

What is the term used to describe the process of conducting business activities across national borders?

• International trade

• Domestic trade

• Global trade

• Local trade