Business Questions

Select all that applyIn the context of first-mover strategies, which of the following are the significant economies that are associated with being the first to enter a market in a particular industry and economic environment? (Check all that apply.)Multiple select question.Being able to attain scale economies that arise from opportunities for obtaining a greater market shareBeing able to form alliances with the most attractive local partnersBeing able to capture learning effects that are key to increasing market shareBeing able to capitalize on opportunities to set standards in the industryBeing able to determine the speed of the evolution of market and technology

Select all that applyIdentify the true statements about the total quality management (TQM) approach to formulating and implementing strategies. (Check all that apply.)Multiple select question.TQM involves operationalizing quality by meeting or surpassing the expectations of customers.In multinational corporations that follow TQM, the top management emphasizes the elimination of variability in the production process.In multinational corporations that follow TQM, the top management develops the quality strategy and diffuses it throughout the organization.TQM focuses exclusively on traditional inspection and statistical quality control.

Select all that applyWhat are the factors that benefit a multinational corporation (MNC) when choosing a country for setting up its operations? (Check all that apply.)Multiple select question.Absence of import regulationsEmphasis on independent unionism in the host countryLack of restrictions on foreign investmentTax exemptions and other financial benefits offered by the host countryHigh level of industrialization

Identify a true statement about the common considerations multinational corporations (MNCs) have when selecting a specific locale to set up operations.MNCs choose areas where the cost of running a small enterprise is much lower than that of running a large one.MNCs always prefer to start operations in urban or metropolitan areas, which are less expensive.MNCs tend to avoid clustering and opt for locations that are away from their competitors' operations.MNCs often set up operations near heavily unionized areas.

Select all that applyWhy do multinational corporations (MNCs) often opt for advanced industrialized countries to make investments? They tend to have high-skilled and cheap labor.They offer the largest markets for goods and services.They require majority control of business operations to be in the hands of local partners.They tend to have legal restrictions related to imports that encourage a local presence.

Select all that applyIn the context of the marketing strategy of a multinational corporation, which of the following components of marketing are controlled by local conditions? (Check all that apply.)Multiple select question.ProductPricePromotionPlace

The internationalization of the marketplace and the increasing number of entrepreneurial firms in the global economy have limited the prospects of internationalization available to small and new-venture businesses.TrueFalse

In the context of the conflicting needs for global integration and local responsiveness, a(n) ____________ _________________ refers to a mixed strategy that combines low demand for integration and responsiveness.

The process of providing goods and services in accord with a plan of action is known as ____________ _________________.

The process of providing management with accurate forecasts of trends related to external changes in geographic areas where the firm currently is doing business or is considering setting up operations is known as ________________ _________________.

Multinational corporations that have an exclusive focus on economies of scale and standardize their products and services across the globe use transnational strategies for production and marketing.TrueFalse

A(n) ______________ _____________________ is an integrated business strategy that emphasizes the demands for both global integration and local responsiveness.

In the context of strategic management, ___________ _____________refers to the production and distribution of products and services of a homogeneous type and quality on a worldwide basis.

Which of the following is true of multinational corporations that use the political imperative approach to strategic management?They make decisions based on the merits of the individual situation rather than global economic trends.They view quality improvement as an ongoing process.They often use an international or global strategy.They sell products that have a large part of their value added in the downstream activities of the value chain.

Identify a true statement about a multinational corporation's international strategy in relation to the conflicting demands for global integration and national responsiveness.It is characterized by standardization of products and services across countries.It involves the challenge of localizing the corporation's global focus.It arises as a result of high pressures to obtain economies of scale and the benefits of customization.It is characterized by adaptations to meet customer demands in specific markets.

In the context of combining country-specific and firm-specific factors in international strategy, match the types of advantages for multinational corporations (in the left column) with their descriptions (in the right column).Country-specific advantages (CSAs)Firm-specific advantages (FSAs)-These may include unique abilities proprietary to a firm that may be based on product or process technology, marketing or distributional skills, or managerial know-how.-These can be based on natural resource endowments, the labor force, education and skills, institutional protections of intellectual property, entrepreneurial dynamism, and so on.

Select all that applyWhat are the typical forms of total quality management? (Check all that apply.)Multiple select question.Rewards systems that reinforce quality performance by employeesProcess reengineering that helps find and get rid of redundant and wasteful tasks and effortsEfforts that ensure stable and predictable process results by eliminating process variationsEmphasis on advertising and marketing to ensure the success of a product or serviceCross-training employees to fulfill the jobs of all members in their work group

A(n) _________________ _____________________ approach to management involves strategic formulation and implementation using strategies of total quality management to meet or exceed the expectations of customers and continuously improve products or services.

In the context of the conflicting demands for global integration and national responsiveness, which of the following is true of a multinational corporation's (MNC's) global strategy?It is an integrated strategy mainly based on price competition.It is a mixed strategy that combines low demand for integration and responsiveness.It is a differentiated strategy that emphasizes local adaptation.It is an integrated strategy that emphasizes both global integration and local responsiveness.

Which of the following is true of a multi-domestic strategy in relation to the conflicting needs for global integration and national responsiveness?It primarily focuses on international standardization.It emphasizes local adaptation.It primarily focuses on price competition.It emphasizes economies of scale.