BUSMHR 2000 - Chp 11 questions n
answers graded A+
Strategy - correct answer ✔✔planned set of actions that manager simply to make best use of the firm's
resources and core competencies to gain a competitive advantage
The firm that aspires to become globally competitive must simultaneously seek 3 key strategic objectives
- correct answer ✔✔1. Efficiency - the firm must build efficient international value-chains
2. Flexibility - to accommodate diverse country-specific risks and opportunities
3. Learning - balancing exploration and exploitation
Megatrends - correct answer ✔✔Shifts demographics, transforms global economy, tech advancements,
and sustainability issues
Visionary Leadership - correct answer ✔✔quality of senior management that provides inspirational
guidance and motivation to personnel, leading the firm to a better future
4 Major Traits of Visionary Leadership - correct answer ✔✔1. International mind-set and cosmopolitan
values
2. willingness to commit resources
3. strategic vision
4. willingness to invest in human assets
Visionary Leaders - correct answer ✔✔global mindset is found in a leader who recognizes "the need for
global integration and local responsiveness and works to optimize his duality"
- includes an appreciation for diversity as well as homogeneity and openness to learning from
everywhere
5 key dimensions of successful international firms: the global firm - correct answer ✔✔1. strategy
2. organizational structure
, 3. organizational processes
4. organizational culture
5. visionary leadership
Organizational Culture - correct answer ✔✔the set of values, ideas, attitudes, and norms of behavior
that is learned and shared among the members of an organization
- derives from the influence of founders and visionary leaders or some unique history of the firm
Organizational Processes - correct answer ✔✔series of actions or steps that are taken to achieve a
particular objective
- increase sales
- enhance learning and othe rresources
- reduce risk
Global Team - correct answer ✔✔defined as a specific type of work team in which members come from
two or more national or cultural backgrounds
Integration Responsiveness (IR) Framework - correct answer ✔✔describes how internationalizing firms
simultaneously seek global integration and local responsiveness
Global Integration - correct answer ✔✔coordination of the firm's value-chain activities across countries
to achieve worldwide efficiency, synergy, and cross-fertilization in order to take maximum advantage of
similarities between countries
Global Industry - correct answer ✔✔an industry in which competition crosses national borders on a
worldwide basis.
- aerospace, autos, computers, chemicals, etc.
Firms that emphasize global integration: - correct answer ✔✔-Make and sell standardized products and
services to capitalize on converging customer needs and tastes.
-Compete on a regional or worldwide basis.
answers graded A+
Strategy - correct answer ✔✔planned set of actions that manager simply to make best use of the firm's
resources and core competencies to gain a competitive advantage
The firm that aspires to become globally competitive must simultaneously seek 3 key strategic objectives
- correct answer ✔✔1. Efficiency - the firm must build efficient international value-chains
2. Flexibility - to accommodate diverse country-specific risks and opportunities
3. Learning - balancing exploration and exploitation
Megatrends - correct answer ✔✔Shifts demographics, transforms global economy, tech advancements,
and sustainability issues
Visionary Leadership - correct answer ✔✔quality of senior management that provides inspirational
guidance and motivation to personnel, leading the firm to a better future
4 Major Traits of Visionary Leadership - correct answer ✔✔1. International mind-set and cosmopolitan
values
2. willingness to commit resources
3. strategic vision
4. willingness to invest in human assets
Visionary Leaders - correct answer ✔✔global mindset is found in a leader who recognizes "the need for
global integration and local responsiveness and works to optimize his duality"
- includes an appreciation for diversity as well as homogeneity and openness to learning from
everywhere
5 key dimensions of successful international firms: the global firm - correct answer ✔✔1. strategy
2. organizational structure
, 3. organizational processes
4. organizational culture
5. visionary leadership
Organizational Culture - correct answer ✔✔the set of values, ideas, attitudes, and norms of behavior
that is learned and shared among the members of an organization
- derives from the influence of founders and visionary leaders or some unique history of the firm
Organizational Processes - correct answer ✔✔series of actions or steps that are taken to achieve a
particular objective
- increase sales
- enhance learning and othe rresources
- reduce risk
Global Team - correct answer ✔✔defined as a specific type of work team in which members come from
two or more national or cultural backgrounds
Integration Responsiveness (IR) Framework - correct answer ✔✔describes how internationalizing firms
simultaneously seek global integration and local responsiveness
Global Integration - correct answer ✔✔coordination of the firm's value-chain activities across countries
to achieve worldwide efficiency, synergy, and cross-fertilization in order to take maximum advantage of
similarities between countries
Global Industry - correct answer ✔✔an industry in which competition crosses national borders on a
worldwide basis.
- aerospace, autos, computers, chemicals, etc.
Firms that emphasize global integration: - correct answer ✔✔-Make and sell standardized products and
services to capitalize on converging customer needs and tastes.
-Compete on a regional or worldwide basis.
