Understanding Management
10th Edition
ISBN: 9781337333375
Author: Richard L. Daft; Dorothy Marcic
Publisher: Cengage Learning US
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Question
Chapter 3, Problem 6SL
Summary Introduction
To determine:
Whether I have spent more than two weeks traveling or working in another country.
Introduction:
It is highly significant to gain international exposure in order to gain a clear understanding about today’s rapidly evolving world. An individual has to understand the different modern evolving cultures, technological developments and advancements, social patterns and various other vital elements.
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Chapter 3 Solutions
Understanding Management
Ch. 3 - Prob. 1OTJVCCh. 3 - Prob. 2OTJVCCh. 3 - Prob. 3OTJVCCh. 3 - Prob. 1DQCh. 3 - Prob. 2DQCh. 3 - Prob. 3DQCh. 3 - Prob. 4DQCh. 3 - Prob. 5DQCh. 3 - Prob. 6DQCh. 3 - Prob. 7DQ
Ch. 3 - Prob. 8DQCh. 3 - Prob. 9DQCh. 3 - Prob. 10DQCh. 3 - Prob. 1SLCh. 3 - Prob. 2SLCh. 3 - Prob. 3SLCh. 3 - Prob. 4SLCh. 3 - Prob. 5SLCh. 3 - Prob. 6SLCh. 3 - Prob. 7SLCh. 3 - Prob. 8SLCh. 3 - Prob. 9SLCh. 3 - Prob. 10SLCh. 3 - Prob. 1GLCh. 3 - Prob. 2GLCh. 3 - Prob. 3GLCh. 3 - Prob. 4GLCh. 3 - Prob. 5GLCh. 3 - Prob. 6GLCh. 3 - Prob. 7GLCh. 3 - Prob. 8GLCh. 3 - Prob. 9GLCh. 3 - Prob. 10GLCh. 3 - Prob. 1ALCh. 3 - Prob. 2ALCh. 3 - Prob. 3ALCh. 3 - Prob. 4ALCh. 3 - Prob. 1EDCh. 3 - Prob. 2EDCh. 3 - Prob. 3EDCh. 3 - Prob. 1CFCACh. 3 - Prob. 2CFCACh. 3 - Prob. 3CFCA
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- 5. A risk that has both a high impact and high probability is referred to as A. Negligible B. Moderate C. Low D. Extreme 6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward1. What is the primary purpose of risk management in small businesses? A. To eliminate all risks B. To predict profits C. To reduce and control risks D. To create new risks 2. Which of the following is a type of operational risk? A. Interest rate change B. Natural disaster C. Supplier failure D. Tax policy change 3. SWOT analysis identifies all EXCEPT A. Strengths B. Weaknesses C. Tactics D. Opportunities 4. Which strategy involves taking no action against a risk? A. Mitigation B. Avoidance C. Acceptance D. Transferarrow_forward5. A risk that has both a high impact and high probability is referred to as A. Negligible B. Moderate C. Low D. Extreme 6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward
- 1. What is the primary purpose of risk management in small businesses? A. To eliminate all risks B. To predict profits C. To reduce and control risks D. To create new risks 2. Which of the following is a type of operational risk? A. Interest rate change B. Natural disaster C. Supplier failure D. Tax policy change 3. SWOT analysis identifies all EXCEPT A. Strengths B. Weaknesses C. Tactics D. Opportunities 4. Which strategy involves taking no action against a risk? A. Mitigation B. Avoidance C. Acceptance D. Transferarrow_forwardList and briefly describe four risk response strategies.arrow_forwardExplain the purpose of a risk register.arrow_forward
- Assume that your business is going to apply for a bank loan. Step into the shoes of a banking official who has the power to say yes or no to your loan application. From the bank’s vantage point, what are the strengths and weaknesses of your business plan? Does your plan seem realistic, given the financial assumptions and the business environment? What questions would you, as a bank officer, ask about your business plan? As the entrepreneur behind the business plan, how would you answer these questions and persuade the bank to approve your loan? Write up your questions and answers in one paragraph. Then use what you’ve learned to further strengthen your plan.arrow_forwardAssume that your business is going to apply for a bank loan. Step into the shoes of a banking official who has the power to say yes or no to your loan application. From the bank’s vantage point, what are the strengths and weaknesses of your business plan? Does your plan seem realistic, given the financial assumptions and the business environment? What questions would you, as a bank officer, ask about your business plan? As the entrepreneur behind the business plan, how would you answer these questions and persuade the bank to approve your loan? Write up your questions and answers in one paragraph. Then use what you’ve learned to further strengthen your plan.arrow_forwardEven before you launch your business, you have to be ready to handle the funds that will flow in and out as you buy raw materials, pay rent, receive customer payments, and reserve cash to pay taxes. Which financial services should you have in place on your first day in business? Which might be needed months later, after you’ve established your business? Write two to three sentences about your company’s need for financial services, now and during the first year.arrow_forward
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