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Exam 10: International Competitive Strategy

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Question 41

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When developing and assessing strategic alternatives,it is important to remember that companies competing in international markets confront two opposing forces: reduction of costs and adaptation to local markets.

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Question 42

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After setting corporate objectives,the company management must define the company's vision and mission.

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Question 43

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International firms have found it necessary to institute formal global planning:

According to the text,changes in the way corporate planning is done:

An itemized projection of revenues and expenses for a future time period is a:

Companies pursuing a home replication strategy typically centralize product development functions in their home country and then transfer innovations to foreign markets in order to capture additional value.

A broad statement that defines the organization's purpose and scope is known as a:

When a company faces strong pressures for both reducing costs and adapting products for local markets,it should tend to use a:

Historically,more aspects of marketing have been standardized and coordinated worldwide by companies than has been the case for other value chain activities such as research and development and manufacturing.

Discuss how new directions in strategic planning process differ from the old process.

Top management of companies generally accept the fact that,to be effective,strategic planning processes should permit ideas to surface from anywhere in the organization and at any time.

Historically,more aspects of _______ have been standardized and coordinated worldwide by companies than has been the case for other value chain activities such as _______.

The ultimate managers of strategic planning and strategy making are the executive board of a corporation.

The goal of international strategy is to achieve and maintain a unique and valuable competitive position both within a nation and globally,a position that has been termed comparative advantage.

Scenario analysis can help managers to break away from their existing view of the world and envision alternatives that might lie outside their traditional frame of reference.

Global strategic plans help to ensure that decision makers have a common understanding of the business and to think through the impact of their decisions and actions firm-wide.

Scenarios are multiple,plausible stories for probable futures.

A global strategy tends to be used when a company faces strong pressures for reducing costs and limited pressure to adapt products for local markets.

Knowledge that an individual has but that is difficult to express clearly in words,pictures,or formulae,and therefore difficult to transmit to others,is called explicit knowledge.

measures of the effectiveness of the company's personnel,within and across the firm's international network of operations,in performing their assigned jobs.