Question 1

A(n)_____ is defined as an individual whose interests may be affected as the result of what another individual or organization does.
A)intrapreneur
B)entrepreneur
C)stakeholder
D)strategist
E)importer

Accepted Answer

A stakeholder is any individual or group who can affect or is affected by the actions, decisions, policies, practices, or goals of an organization. They have a stake in the outcomes of what an organization does, which can include employees, customers, investors, suppliers, and the community among others.

Question 2

_____ refers to the shift toward a more interdependent and integrated global economy.
A)SWOT
B)Globalization
C)Entrepreneurship
D)Strategic management
E)Intrapreneurship

Accepted Answer

Globalization is the correct term for describing the process of increasing interdependence and integration of economies worldwide, leading to a more global economy.

Question 3

The aim of an organization to make, distribute, and sell the finest quality products with a continued commitment to promoting business practices that respect the Earth and the environment would constitute the _____ of the organization.
A)political mission
B)social mission
C)product mission
D)environmental mission
E)economic mission

Accepted Answer

The statement describes the organization's commitment to producing and distributing high-quality products while respecting the Earth and the environment, which aligns with a product mission focused on quality and sustainability.

Question 4

SWOT stands for:
A)strategy, weaknesses, opportunities, threats
B)strengths, weaknesses, origins, threats
C)strengths, weaknesses, opportunities, threats
D)systems, weaknesses, opportunities, threats
E)strengths, weaknesses, opportunities, technology

Accepted Answer

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, which is a framework used for analyzing a company's competitive position and for strategic planning.

Question 5

Social and natural science can provide important data to help us make better ethical choices.

Accepted Answer

Both social and natural sciences offer insights into human behavior, societal trends, and the natural world, which can inform our understanding of the consequences of our actions and help guide ethical decision-making.

Question 6

The desire of an organization to be a responsible company which is working Hard to help those who buy its products to make more responsible choices constitutes the:
A)economic mission of the organization.
B)product mission of the organization.
C)social mission of the organization.
D)environmental mission of the organization.
E)political mission of the organization.

Accepted Answer

The social mission of an organization encompasses its commitment to acting in a socially responsible manner, including efforts to encourage responsible choices among its consumers. This involves initiatives and practices aimed at benefiting society at large, beyond the organization's immediate business interests.

Question 7

_____ is the body of knowledge that answers questions about the development and implementation of good strategies.
A)Entrepreneurship
B)Strategic management
C)SWOT
D)Intrapreneurship
E)Strategy

Accepted Answer

Strategic management is the discipline that focuses on the development, planning, and implementation of strategies within organizations to achieve their goals and compete effectively in their markets.

Question 8

Open-sourcing refers to providing basic software online for free.

Accepted Answer

Open-sourcing involves making the source code of software available to the public for free, allowing anyone to view, use, modify, and distribute it.

Question 9

A (n) ______ will help you to think about the opportunities available when you connect new ideas with new markets.
A)intrapreneur
B)stakeholder
C)investor
D)entrepreneur
E)businessman

Accepted Answer

An entrepreneur is someone who creates, organizes, and operates a business or businesses, taking on greater than normal financial risks in order to do so. They are often associated with innovating and introducing new ideas to the market, which aligns with the concept of connecting new ideas with new markets.

Question 10

Global business professionals conduct stakeholder analysis in order to understand the:
A)financial implications of conducting business in foreign countries.
B)strategies required to overcome political and legal barriers in business.
C)human capital skills required to face the challenges of a fast changing market.
D)impact of operations in different countries on the overall corporate strategy.
E)nature of the competition operating in the globalized market.

Accepted Answer

Stakeholder analysis helps professionals understand how operations in different countries affect the overall corporate strategy by identifying and assessing the interests and influences of various stakeholders.

Question 11

The SWOT tool helps one to take stock of:
A)the marketing expenditure of an organization.
B)the strategies that are implemented by an organization.
C)an organization's external characteristics only.
D)an organization's external and internal characteristics.
E)an organization's internal characteristics only.

Accepted Answer

The SWOT analysis tool is designed to help organizations assess both their internal strengths and weaknesses, as well as their external opportunities and threats, thus covering both internal and external characteristics.

Question 12

_____ is defined as the recognition of opportunities and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.
A)SWOT
B)Entrepreneurship
C)Intrapreneurship
D)Globalization
E)Strategic management

Accepted Answer

Entrepreneurship involves recognizing opportunities and using resources to implement innovative ideas for new, thoughtfully planned ventures.

Question 13

Work-flow software ensures that complex projects with more interdependent parts can be worked on collaboratively from anywhere.

Accepted Answer

Workflow software enables teams to collaborate on complex projects by managing tasks, automating processes, and facilitating communication, regardless of the team members' locations.

Question 14

Ethics is the same as following culturally accepted norms.

Accepted Answer

Ethics involves principles that define behavior as right, good, and proper, while culturally accepted norms can vary and might not always align with ethical principles.

Question 15

Strategic management is concerned with the:
A)social performance of an organization.
B)environmental performance of an organization.
C)economic performance of an organization.
D)generation of human capital for an organization.
E)overall performance of the organization.

Accepted Answer

Strategic management focuses on the overall performance of an organization, encompassing its financial, operational, and strategic positioning to achieve long-term goals and sustainability.

Question 16

_____ refers to a technique used to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of a project or business.
A)Entrepreneurship
B)Strategic management
C)SWOT
D)Stakeholder analysis
E)Intrapreneurship

Accepted Answer

Stakeholder analysis is a technique used to identify and assess the importance of key stakeholders (people, groups of people, or institutions) that may significantly influence the success of a project or business. It helps in understanding how stakeholders may impact or be impacted by the project/business and in strategizing how to engage with them.

Question 17

The "Common good approach" refers tothe action that contributes the most to the quality of life of the people affected.

Accepted Answer

The "Common Good Approach" emphasizes actions that contribute to the community's overall well-being, focusing on what is beneficial for all members involved.

Question 18

_____ refers to the cross-border exchanges of goods, services, or resources between two or more nations.
A)Strategic management
B)International business
C)Intrapreneurship
D)Entrepreneurship
E)SWOT

Accepted Answer

International business specifically refers to the exchange of goods, services, or resources across national borders, involving transactions between parties in different countries.

Question 19

_____ refers to developing a new product or service in an already existing business.
A)Entrepreneurship
B)Strategic management
C)SWOT
D)Globalization
E)Intrapreneurship

Accepted Answer

Intrapreneurship refers to the practice of developing a new product or service within an existing company, leveraging the company's resources, capabilities, and market position to innovate.

Question 20

A(n)_____ is defined as somebody who sells products and services that are sourced from other countries.
A)intrapreneur
B)entrepreneur
C)exporter
D)importer
E)stakeholder

Accepted Answer

An importer is defined as a person or entity that buys goods or services from another country, bringing them into their own country for sale or use.

Quiz 1: Introduction

A(n) _____ is defined as an individual whose interests may be affected as the result of what another individual or organization does.

_____ refers to the shift toward a more interdependent and integrated global economy.

The aim of an organization to make, distribute, and sell the finest quality products with a continued commitment to promoting business practices that respect the Earth and the environment would constitute the _____ of the organization.

SWOT stands for:

Social and natural science can provide important data to help us make better ethical choices.

The desire of an organization to be a responsible company which is working Hard to help those who buy its products to make more responsible choices constitutes the:

_____ is the body of knowledge that answers questions about the development and implementation of good strategies.

Open-sourcing refers to providing basic software online for free.

A (n) ______ will help you to think about the opportunities available when you connect new ideas with new markets.

Global business professionals conduct stakeholder analysis in order to understand the:

The SWOT tool helps one to take stock of:

_____ is defined as the recognition of opportunities and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.

Work-flow software ensures that complex projects with more interdependent parts can be worked on collaboratively from anywhere.

Ethics is the same as following culturally accepted norms.

Strategic management is concerned with the:

_____ refers to a technique used to identify and assess the importance of key people, groups of people, or institutions that may significantly influence the success of a project or business.

The "Common good approach" refers tothe action that contributes the most to the quality of life of the people affected.

_____ refers to the cross-border exchanges of goods, services, or resources between two or more nations.

_____ refers to developing a new product or service in an already existing business.

A(n) _____ is defined as somebody who sells products and services that are sourced from other countries.