MGMT 303 Midterm Exam - Latest

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Question 1.1. (TCO 1) One example of a firm studying its ____ is an annual assessment of the labor supply available to the company. (Points : 5) organizational culture internal environment external environment organizational mission

Question 2.2. (TCO 2) Various social networks have enabled people to stay in contact with each other. It also hurts relationships when too much information is shared. This reflects the _____ element of the …show more content…

Oftentimes organizations are partnered with other foreign companies to make this strategic alliance (Pg 83). A foreign subsidiary is when a company or organization directly invests into a foreign country by setting up independent offices or production facilities (Pg 83).
Question 9.9. (TCO 3) Give five arguments for and five against a company being socially responsible. (Points : 10)
The arguments for and against being socially responsible are as follows: For:
1) Public expectations
2) Ethical obligation
3) Long-run profits
4) Better environment
5) Balance of responsibility and power Against:
1) Violation of profit maximization
2)Dilution of purpose
3) Costs
4) Lack of skills
5) Too much power Our text actually lists several more examples of for and against a company being socially responsible on page 132.
Question 10.10. (TCO 4) What is the World Trade Organization and why is it important to the global environment? (Points : 10)
"The World Trade Organization is a worldwide organization of 155 countries that deals with the rules of trade among nations" (Pg 80). The WTO is important to the global environment because for instance, the major goal of the WTO is to help these selected countries conduct trade through set rules in order to prevent inconsistent trading. During global economic crisis, the World Trade Organization has helped all the partnered nations stay active in trading. WTO Director-General Pascal Lamy said, "During