What is a country's legal system? Why is it important to international businesses?
What will be an ideal response?
Answer: A country's legal system is the set of laws, rules, and regulations people and businesses in that country must follow or else they will be penalized by fees or jail time. It is important to international business because it dictates what must be done in certain countries to run a business there successfully and legally. For example, businesses that run in the United States must pay the minimum wage to all workers or else they will be faced with fines and legal issues. A firm may choose to move their business to another country where the minimum wage is lower, or does not exist, so that they can produce more for less. This impacts the global market and international business in many ways, such as human rights, globalization, and the world's economy.
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Which of the following statements is true of high-performance work systems?
A. Creating a high-performance work system is akin to using traditional management practices. B. To function as a high-performance work system, people, technology, and organizational structure must be completely independent of one another. C. To develop a high-performance work system, organizations need to determine what kinds of people fit their needs and then locate, train, and motivate those special people. D. A high-performance work system usually excludes reward systems. E. Integrated high-performance work practices usually have little impact on productivity and long-term financial performance.
All of the following statements regarding a hospital indemnity plan are correct EXCEPT
A) another name for the plan is a hospital expense plan B) the plan pays a flat dollar amount as a daily benefit each day the insured is hospitalized C) payment is made directly to the insured, not the insurer D) the benefits from the policy may be used toward deductibles and coinsurance payments