Chapter 14: Global Operations

Question 1

P-O-L-C

Answer 1

Planning
Organizing
Leading
Controlling

Question 2

P-O-L-C: Planning

Answer 2

It involves setting objectives and determining a course of action for achieving said objectives

Question 3

P-O-L-C: Organizing

Answer 3

Develops an organizational structure and coordinates human resources within that structure to achieve organizational objectives

Question 4

P-O-L-C: Leading

Answer 4

Involves influencing and inspiring others to take action

Question 5

P-O-L-C: Controlling

Answer 5

Monitoring performance so that it meets the performance standards established by the organization

Question 6

Primary Types of Plans and Planning

Answer 6

• Strategic Planning
• Tactical Planning
• Operational Planning

Question 7

Strategic Planning

Answer 7

Most long-range planning, typically looking three years or more into the future and setting a plan to compete effectively in the environment.

Question 8

Tactical Planning

Answer 8

Has a time horizon of 1 to 3 years and specifies fairly concrete ways to implement the strategic plan

Question 9

Operational Planning

Answer 9

Short-range planning (less than a year) that takes the organization-wide strategic and tactical plans and specifies concrete action steps to achieve those plans

Question 10

Research and Development (R&D)

Answer 10

Intertwined processes of research (to identify new knowledge and ideas) and development (turning the ideas into tangible products or processes).

Question 11

Invention

Answer 11

Brings an idea into tangible reality by embodying it as a product or process

Question 12

Innovation

Answer 12

Generates revenue from a product or process

Question 13

Applied Research

Answer 13

The systematic work to gain knowledge to meet a specific need

Question 14

Basic Research

Answer 14

The work of scientists and others who pursue their investigations without commercial goals, focusing on unraveling the secrets of nature and finding new knowledge

Question 15

The Role of Government

Answer 15

• Fund research for military applications for war efforts
• Offer grants to universities and research centers or offer contracts to corporations for performing research
• Provide tax incentives for companies that invest in R&D
• Sets high targets that require a great deal of innovation
• The U.S. remains the single largest investor in R&D
• There is much government-corporate collaboration in many countries

Question 16

Intellectual Property (IP)

Answer 16

Refers to creations of the mind - inventions, literary and artistic works, and symbols, names, and images used in commerce

Question 17

Intellectual Property Rights (IPR)

Answer 17

Exclusive rights granted to owners for their intangible assests under intellectual property law.

Question 18

Intellectual Property Types

Answer 18

• Patents
• Trademarks
• Trade Secrets
• Copyright and Related Rights

Question 19

Process Innovations

Answer 19

Implementing a new or significantly improved process

Question 20

Open Innovation

Answer 20

Generating new business ideas through input from employees beyond a company’s R&D

Question 21

Advantages of Open Innovation Contest

Answer 21

• Reduced costs of R&D
• Fast product development time
• Access to experts around the world
• Bigger breakthroughs

Question 22

User-led Innovation

Answer 22

Innovation by consumers and end users, who are using the product in new ways beyond what the company originally intended.

Question 23

Social Network

Answer 23

Social structure made of nodes that are connected by ties; a set of relationships among people.

Question 24

Social Capital

Answer 24

Resources such as ideas, information, money, and trust.