The traditional and narrowly defined notion of “global strategy” is characterized by the production and distribution of standardized products and services on a worldwide basis—in short, a “one size fits all” approach. This strategy has often backfired in practice.
Correct!
True
False
Answer
True
5 / 5 pts
Why is it important to study 'Global Strategy'?
In order to take my company / my employer globally more easily
It is a requirement for an International Business major
To gain a better understanding of why some companies consider 'going global'.
Correct!
To better compete in the corporate world that will appreciate expertise in global strategy.
Answer
To better compete in the corporate world that will appreciate expertise in global strategy.
5 / 5 pts
______________________ is defined as strategy of firms around the globe.
International Business
Multi-national organizational behavior
Correct!
Global Strategy
Multi-cultural considerations
Answer
Global Strategy
5 / 5 pts
The three leading perspectives guiding our exploration are industry-based, resource-based, and institution-based views, which collectively form a strategy tripod.
Correct!
True
False
Answer
True
5 / 5 pts
What is a fundamental question in strategy?
How do firms behave?
Why do firms differ?
What determines the success and failure of firms around the globe?
What determines the scope of the firm?
Correct!
All of the Above
Answer
All of the Above
5 / 5 pts
Strategists need to know themselves (including their own biases) and know their opponents.
Correct!
True
False
Answer
True
Question 1
5 / 5 pts
A/An ______________ is a group of firms producing similar goods and/or services.
firm
Correct!
industry
conglomerate
organization
Answer
industry
5 / 5 pts
The industry-based view of strategy grows out of industrial organization (IO) economics, which helps policymakers better understand how firms compete so policymakers can properly regulate them.
Correct!
True
False
Answer
True
5 / 5 pts
Pioneered by _______________ the five forces framework forms the backbone of the industry-based view of strategy, which draws on the insights of IO economics to help firms better compete.
Demming
Cengage
Mitchell
Correct!
Porter
Answer
Porter
5 / 5 pts
The stronger and more competitive the five forces are, the less likely that firms in an industry are able to earn above-average returns, and vice versa.
Correct!
True
False
Answer
True
5 / 5 pts
Which of the following are a part of the "Five Forces"?
bargaining power of suppliers
threat of potential entry
rivalry within an industry
threat of substitutes
Correct!
all of the above
bargaining power of buyers
Answer
all of the above
5 / 5 pts
What are the three "generic strategies"?
price leadership, refinement and differentiation
focus, differentiation and price leadership
Correct!
focus, cost leadership and differentiation
customization, cost leadership, and focus
Answer
focus, cost leadership and differentiation
Question 1
5 / 5 pts
__________ and __________ are tangible and intangible assets a firm uses to choose and implement its strategies.
advantages and disadvantages
attributes and characteristics
resources and capabilities
knowledge and skills
Answer
resources and capabilities
5 / 5 pts
A ____________ consists of a stream of activities from upstream to downstream that add value.
SWOT analysis
competitive advantage
imitable characteristic
value chain
Answer
value chain
5 / 5 pts
A ____________ engages managers to ascertain a firm’s strengths and weaknesses on an activity-by-activity basis relative to rivals.
industry analysis
statement of work
SWOT analysis
managerial training program
Answer
SWOT analysis
5 / 5 pts
____________ is defined as turning over all or part of an organizational activity to an outside supplier.
Horizontal integration
Offshoring
Outsourcing
Vertical integration
Answer
Outsourcing
5 / 5 pts
On any given activity, the choices for managers in terms of modes and locations for activities are ____________
onshoring
offshoring
all of the above
domestic in-house activity
captive sourcing / FDI
Answer
all of the above
5 / 5 pts
A VRIO analysis is comprised of analyzing the __________________________________ aspects of a firm's resources and capabilities.
virtue, rarity, imitability and organizational
value, rarity, imitability and foundational
value, rarity, innateness and organizational
value, resistance, imitability and organizational
value, rarity, imitability and organizational
Answer
value, rarity, imitability and organizational
5 / 5 pts
A VRIO framework suggests that only resources and capabilities that are valuable, rare, inimitable, and organizationally embedded will generate sustainable competitive advantage.
True
False
Answer
True
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