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109 True/False questions

  1. Exchange RateDifference between the value of a nation's imports and its exports during a specified period.

          

  2. BonusesCompensation paid to employees based on the number of hours worked.

          

  3. Foreign Direct Investment (FDI)Independent company owned by a foreign firm (called its parent).

          

  4. PieceworkCompensation paid to workers according to the quantity of a product that they produce or sell.

          

  5. World BankPractice of eliminating jobs to cut costs.

          

  6. Globalization of Productiono Geographically dispersed network of suppliers and manufacturing sites
    o Companies take advantage of national differences in cost and quality of production
    o Resources obtained from places around the world (Labor, Natural Resources, Global Financial Markets)

          

  7. RecruitingPractice of selling domestic products to foreign customers.

          

  8. FlextimeAlternative work arrangement that allows employees to designate starting and quitting times.

          

  9. Trading BlocsGroups of countries that have joined together to allow goods and services to flow without restrictions across their mutual borders.

          

  10. What are work life benefits?organizations recognize the need to help employees strike a balance between their work and home lives

          

  11. TelecommutingPractice of selling domestic products to foreign customers.

          

  12. Profit MarginAmount that a company earns on each unit sold.

          

  13. MediationProcess of resolving a labor-contract dispute by having a third party study the situation and arrive at a binding agreement.

          

  14. Contingent WorkerTemporary or part-time worker hired to supplement a company's permanent workforce.

          

  15. Profit Sharing PlanIncentive program that uses a predetermined formula to distribute a share of company profits to eligible employees.

          

  16. PicketingPractice of buying products overseas and reselling them in one's own country.

          

  17. Wholesalers (Distributors)Intermediaries who buy goods from suppliers and sell them to businesses that will either resell or use them.

          

  18. Explain how Disruptive technology is responsible for the globalization of goodsAgreement among the governments of the United States, Canada, and Mexico to open their borders to unrestricted trade.

          

  19. Supply ChainDocument completed by a job applicant that provides factual information on the person's education and work background.

          

  20. Trade ControlsGovernment policies that restrict free trade.

          

  21. Performance AppraisalsFormal process in which a manager evaluates an employee's work performance.

          

  22. Employment At-WillLegal doctrine that allows an employer to fire an employee at will.

          

  23. International FranchiseAgreement between two companies (or a company and a nation) to pool resources in order to achieve business goals that benefit both partners.

          

  24. High Context CulturesCultures in which personal and family connections have an effect on most interactions, including those in business.

          

  25. Off The-Job TrainingEmployee training (often informal) that occurs while the employee is on the job.

          

  26. The Equal Pay Act of 1963protects both women and men who do substantially equal work from sex, based pay discrimination

          

  27. General Agreement On Tariffs And Trade (GATT)International trade agreement that encourages free trade by regulating and reducing tariffs and provides a forum for resolving trade disputes.

          

  28. Low Context Culturescultures in which personal and work relationships are compartmentalized.

          

  29. Job RedesignIdentification of the tasks, responsibilities, and skills of a job, as well as the knowledge and abilities needed to perform it.

          

  30. ApplicationApproach used to resolve a labor-contract dispute by following the recommendation of an impartial third party.

          

  31. International Contract ManufacturingInternational organization set up to lend money to countries with troubled economies.

          

  32. OutsourcingPractice of eliminating jobs to cut costs.

          

  33. QuotaGovernment-imposed restrictions on the quantity of a good that can be imported over a period of time.

          

  34. ExportingPractice of selling domestic products to foreign customers.

          

  35. Biggest ExporterAmerican
    USDA testing -report cards
    Subsides- reneuve insurance
    Technology- genetically

          

  36. Balance Of PaymentsDifference between the total flow of money coming into a country and the total flow of money going out.

          

  37. SubsidiesAnnual income given to employees (in addition to salary) based on company-wide performance.

          

  38. Collective BargainingProcess by which management and union-represented workers settle differences.

          

  39. Balance Of TradeDifference between the total flow of money coming into a country and the total flow of money going out.

          

  40. ImportingPractice of selling domestic products to foreign customers.

          

  41. OffshoringWork arrangement in which two people share one full-time position.

          

  42. Advantages of using internal recruiting-same old ideas
    - have to fill the old position

          

  43. StrikebreakersNonunion workers who are willing to cross picket lines to replace strikers.

          

  44. On The-Job TrainingEmployee training (often informal) that occurs while the employee is on the job.

          

  45. Supply Chain Management (SCM)Process of integrating all the activities in the supply chain.

          

  46. SelectionUnion tactic of parading with signs outside a factory or other facility to publicize a strike.

          

  47. Physical DistributionOutline of the duties and responsibilities of a position.

          

  48. Human Resource Management (HRM)All actions that an organization takes to attract, develop, and retain quality employees.

          

  49. Foreign SubsidiaryIndependent company owned by a foreign firm (called its parent).

          

  50. International Monetary Fund (IMF)International organization set up to lend money to countries with troubled economies.

          

  51. Comparative AdvantageCondition whereby a country is the only source of a product or is able to make more of a product using the same or fewer resources than other countries.

          

  52. The Age Discrimination in Employment Act of 1964protects individuals who are forty or older.

          

  53. BoycottingMethod used by union members to voice displeasure with certain organizations by refusing to buy the company's products and encouraging others to follow suit.

          

  54. SalaryCompensation paid for fulfilling the responsibilities of a position regardless of the number of hours required to do it.

          

  55. EmbargoCompensation paid for fulfilling the responsibilities of a position regardless of the number of hours required to do it.

          

  56. World Trade Organization (WTO)Association of European countries that joined together to eliminate trade barriers among themselves.

          

  57. GrievancesCompensation paid to employees based on the number of hours worked.

          

  58. Title I and Title V of the Americans with Disabilities Act of 1990prohibits employment discrimination against individuals with disabilities

          

  59. StrikeUnion tactic by which workers walk away from their jobs and refuse to return until a labor-management dispute has been resolved.

          

  60. DiscriminationPractice of treating a person unfairly on the basis of a characteristic unrelated to ability.

          

  61. DumpingPractice of buying products overseas and reselling them in one's own country.

          

  62. Job redesign strategies (list and explain)- job rotation; allows employees to rotate from one job to another on a systematic basis, eventually cycling back to their original tasks
    -job enlargement; the policy of enhancing a job by adding tasks at similar skill levels
    -job enrichment;he practice of adding tasks that increase both responsibility and opportunity for growth

          

  63. ProtectionismUse of trade controls to reduce foreign competition in order to protect domestic industries.

          

  64. upward feedbackrequires only the manager's subordinates to provide feedback

          

  65. BenefitsCompensation other than salaries, hourly wages, or financial incentives.

          

  66. Incentive ProgramsProgram designed to financially reward employees for good performance.

          

  67. European Union (EU)Use of trade controls to reduce foreign competition in order to protect domestic industries.

          

  68. InterviewPermanent separation of an employee from a company.

          

  69. Storage WarehouseCondition whereby a country sells more products than it buys, resulting in a favorable trade balance.

          

  70. LockoutAnnual income given to employees (in addition to salary) based on company-wide performance.

          

  71. Trade DeficitCondition whereby a country buys more products than it sells, resulting in an unfavorable trade balance.

          

  72. CommissionDocument completed by a job applicant that provides factual information on the person's education and work background.

          

  73. Strategic Human Resource PlanningAgreement between two companies (or a company and a nation) to pool resources in order to achieve business goals that benefit both partners.

          

  74. Transporting Goods in USPractice of buying products overseas and reselling them in one's own country.

          

  75. Just In-Time ProductionSystem for reducing inventories and costs by requiring suppliers to deliver materials just in time to go into the production process.

          

  76. Multinational Corporation (MNC)large Corporation that operates in many countries.

          

  77. Value ChainEntire range of activities involved in delivering value to customers.

          

  78. CulturePermanent separation of an employee from a company.

          

  79. Stock Option PlansIncentive program that uses a predetermined formula to distribute a share of company profits to eligible employees.

          

  80. 360 degree feedbackInternational financial institution that provides economic assistance to poor and developing countries.

          

  81. International Licensing AgreementAgreement that allows a foreign company to sell a domestic company's products or use its intellectual property in exchange for royalty fees.

          

  82. Different labor costs did not equate to different overall cost to bring the t-shirt to marketprotects individuals who are forty or older.

          

  83. Equal Employment Opportunity Commission (EEOC)Federal agency in charge of enforcing federal laws on employment discrimination.

          

  84. Job EnlargementManagement strategy used to increase job satisfaction by making jobs more interesting and challenging.

          

  85. Job EnrichmentJob redesign strategy in which management enriches a job by adding tasks that increase both responsibility and opportunity for growth.

          

  86. Currency FluctuationsDocument completed by a job applicant that provides factual information on the person's education and work background.

          

  87. WagesCompensation paid to employees based on the number of hours worked.

          

  88. Joint VenturesFormal meeting during which the employer learns more about an applicant and the applicant learns more about the prospective employer.

          

  89. Labor UnionProcess of resolving a labor-contract dispute by having a third party study the situation and arrive at a binding agreement.

          

  90. Disadvantages of Internal recruiting-same old ideas
    - have to fill the old position

          

  91. EmbargoExtreme form of quota that bans the import or export of certain goods to a country for economic or political reasons.

          

  92. Job SharingWork arrangement in which two people share one full-time position.

          

  93. DownsizingPractice of selling exported goods below the price that producers would normally charge home markets.

          

  94. Globalization of MarketsNational markets become fused into regional and global market places. Which lead to ...
    o The convergence of consumer tastes
    o The adaptation of products or services to fit the needs of emerging markets
    o Global electronic marketplaces - ex. Amazon, AliBa

          

  95. Job AnalysisWork arrangement in which two people share one full-time position.

          

  96. Materials HandlingCondition whereby a country buys more products than it sells, resulting in an unfavorable trade balance.

          

  97. TurnoverUnion tactic by which workers walk away from their jobs and refuse to return until a labor-management dispute has been resolved.

          

  98. Absolute AdvantageCondition whereby a country is the only source of a product or is able to make more of a product using the same or fewer resources than other countries.

          

  99. Strategic AllianceAgreement between two companies (or a company and a nation) to pool resources in order to achieve business goals that benefit both partners.

          

  100. Trade SurplusCondition whereby a country sells more products than it buys, resulting in a favorable trade balance.

          

  101. North American Free Trade Association (NAFTA)Agreement among the governments of the United States, Canada, and Mexico to open their borders to unrestricted trade.

          

  102. TariffsGovernment taxes on imports that raise the price of foreign goods and make them less competitive with domestic goods.

          

  103. Title VII of the Civil Rights Actprohibits employment discrimination based on race, color, religion, sex, or national origin. Sexual harassment is also a violation of Title VII

          

  104. Job DescriptionDetailed list of the qualifications needed to perform a job, including required skills, knowledge, and abilities.

          

  105. Job SpecificationJob redesign strategy that allows employees to rotate from one job to another on a systematic basis.

          

  106. Job RotationJob redesign strategy that allows employees to rotate from one job to another on a systematic basis.

          

  107. ArbitrationApproach used to resolve a labor-contract dispute by following the recommendation of an impartial third party.

          

  108. OrientationApproach used to resolve a labor-contract dispute by following the recommendation of an impartial third party.

          

  109. What are financial benefit for employers to offer work life benefits?Federal agency in charge of enforcing federal laws on employment discrimination.