MQM 385 | Test 2 Exam Q&A | Global Strategy, Alliances, Diversification, Restructuring

This document features a complete and verified collection of Test 2 questions and answers for MQM 385 – Strategic Management at Illinois State University. All content is directly aligned with the course structure and provides exam-grade definitions, frameworks, and strategy models. Presented in a concise Q&A format, the material is designed for fast recall, deep understanding, and real exam performance. Topics and models covered include: International market entry strategies: Exporting, licensing, franchising, joint ventures, turnkey, wholly-owned subsidiaries, strategic alliances Global strategy types: Standard globalization, local responsiveness, international, transnational strategies, CAGE framework influences Strategic alliances: Pros and cons, knowledge sharing, coordination costs, inter-firm dependency Restructuring activities: Divesting, downscoping, spin-offs, downsizing, harvesting Corporate-level strategies and diversification: Single business, dominant, related-constrained, related-linked, and unrelated diversification Integration strategies: Vertical (forward, backward, tapered) and horizontal integration Organizational terms: Strategic Business Units (SBUs), MNEs, MNCs, bureaucratic costs Distinctive competencies and core capabilities: VRIN attributes, value creation Managerial and structural terms: TMT (Top Management Team), LBOs (Leveraged Buyouts), market commonality, competitive interdependence Quality and operations tools: TQM, JIT inventory systems This resource is particularly beneficial for students in business strategy, international business, or corporate-level strategic management, including undergraduate and MBA learners. It offers the essential definitions and frameworks needed to succeed on MQM 385 Test 2 and beyond. Keywords: MQM 385, strategic management, international market entry, strategic alliances, global strategy, diversification, restructuring, vertical integration, corporate strategy, TQM, JIT, Illinois State University