LD Chapter 1

Question 1

The process of completing activities efficiently and effectively with and through other people

Answer 1

Management

Question 2

The process of applying management concepts and techniques in a multinational environment and adapting management practices to different economic, political, and cultural environments

Answer 2

International Management

Question 3

A firm having operations in more than one country, international sales, and a nationality mix of managers and owners

Answer 3

MNC

Question 4

The process of social, political, economic, cultural, and technological integration among countries around the world

Answer 4

Globalization

Question 5

The process by which companies undertake some activities at offshore locations instead of in their countries of origin

Answer 5

Offshoring

Question 6

The subcontracting, or contracting out, of activities to endogenous organizations that had previously been performed by the firm

Answer 6

Outsourcing

Question 7

The global organization of countries that oversees rules and regulations for international trade and investment

Answer 7

World Trade Organization (WTO)

Question 8

A free trade agreement among the United States, Canada, and Mexico that removed most barriers to trade and investment. It was renegotiated and replaced by the United States

Answer 8

North American Free Trade Agreement (NAFTA)