communication and conflict resolution processes.

-Which of the following recommendations would NOT be appropriate for a manager who was starting a cross-functional product-development team?

Let the team members co-manage the team.

Locate team members in the same physical space.

Allow the team to develop its own communication and conflict resolution processes.

Compose the team with members from each of the key functional areas.

-Which of the following statements about customer focus is false?

It must start at the top of the organization.

It can be facilitated by soliciting feedback from the customer.

It requires that all employees see the customer as the focus of their activity.

It can be achieved by mass customization.

SECTION 3 STRATEGY IN THE GLOBAL ENVIRONMENT

-The globalization of production has allowed firms to

increase their market share.

lower their cost structure.

respond to individual market segments.

avoid international competition.

-When a company performs a value creation activity in the optimal location for that activity, wherever in the world that might be, it is trying to capitalize on

economies of scale.

economies of scope.

the transnational strategy.

location economies.

-Which of the following is NOT a necessity for leveraging the skills of global subsidiaries?

The firm must have incentives for local managers to share knowledge and ideas.

The firm’s managers must be aware that competencies can develop anywhere.

The firm must be pursuing a strategy of differentiation.

The firm’s managers must help to transfer competencies around the company.

-Global expansion

is feasible only for large companies.

can enable companies to increase their profitability and grow their profits more rapidly.

allows domestic companies in the mature stage of the industry life cycle to maintain profits but not to increase them.

requires locating facilities in foreign countries.

-Which of the following factors increases pressures for cost reductions?

Price as the main competitive weapon in a market

Increasing national wealth

Great transportation needs

Differences in distribution channels

-Which of the following factors increases pressures for local responsiveness?

Powerful buyers

Persistent excess capacity

Differences in customer tastes and preferences

Trade barriers

-A localization strategy is based on which of the following ideas?

There is a convergence in the tastes of consumers in different nations of the world.

There are substantial economies of scale to be realized from centralizing global production.

Consumers tastes and preferences differ among national markets.

Competitive strategy should be centralized at the world head office.

-The Achilles heel of international strategy is that

market demand inevitably dries up.

costs cannot be sufficiently controlled over long periods of time.

prices eventually tumble drastically.

competitors inevitably emerge.

-Which of the following is NOT an objective of a transnational company?

Low cross-national integration

Realization of location economies

Local responsiveness

Global learning

-A company that enters a foreign market by entering into a licensing agreement with a local company

can realize location economies.

can engage in global strategic coordination.

can realize experience-curve effects.

risks losing control over its technology to the venture partner.

-Which entry mode gives a multinational the tightest control over foreign operations?

Exporting from the home country and letting a foreign agent organize local marketing

Setting up a wholly owned subsidiary

Franchising

Licensing

-Factors of production include all but which of the following?

Land

Raw materials

Ethnic diversity

Managerial sophistication

SECTION 4 Building Competitive Advantage

Through Business-Level Strategy

-To create a successful business model, managers must choose a set of business-level strategies that

allow the company to better compete with rivals within an industry.

help them decide what businesses to enter and exit.

help build an organizational structure that contains multiple businesses.

work together to give a company a competitive advantage over its rivals.

help it to diversify to better leverage distinctive competencies.

-Which of the following is not a generic competitive strategy?

Cost leadership

Differentiation

Focused cost leadership

Focused differentiation

Innovation

-The main difference between companies following a cost leadership strategy and those following a focused cost leadership strategy is

standardized market price.

industry life cycle stage.

degree of market segmentation.

age of the market.

market trajectory.

-Alarge company produces a variety of clothing for different customer groups. This firm is pursuing which of the following strategies?

Cost leadership

Differentiation

Both cost and differentiation

Focus

Share building

-The most expensive competitive strategy to pursue is

differentiation.

cost leadership.

focus.

growth

hypercompetition.

find the cost of your paper

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