Define the following terms using examples to support your answer :
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1- Efficiency and Effectiveness
2- Rational and Bounded Rationality Decision making
3-World bank and International Monetary Fund.
4- Free market and Planned Market.
6- Organizational culture
Answer the following in Essay form using example to support your answer;
1- Managers assess the degree of uncertainty in the external environment by examining two dimensions.A. Draw The environmental uncertainty matrix developed by Robert Duncan using examples for each cell. B. Why might this be helpful tool for managers? C. In this climate ever increasing uncertainty, is this still a relevant concept? Why or why not?
2- Geert Hofstede recognize the importance of national culture and developed an approach to better understand cultural differences. A. Describe the five dimensions of national culture that Hofstede identified. B. Using these dimensions, explain how he might characterize the United States national culture? C. Describe some of the political, legal, economies and cultural challenges to doing business globally today. D. What are some of the benefits and hazards of doing business internationally?