International Management Test 2|88 Questions with Verified
Answers
Predict and prepare for quick changes in the business landscape - CORRECT
ANSWER Successful multinational companies can...
strategy - CORRECT ANSWER a combination of planned intent and adaptive
reactions
strategy must address - CORRECT ANSWER - which business a company wants to
be in
- how to create presence in a market
- how to win customers
- which country to enter
- what products to produce
Generic Strategy - CORRECT ANSWER basic ways for companies to achieve and
sustain a competitive advantage
Competitive Advantage - CORRECT ANSWER when a company outmatches rivals
and keeps targeted customer
differentiation and low cost - CORRECT ANSWER how to gain competitive
advantage
differentiation strategy - CORRECT ANSWER finding ways of providing superior
value to customers
Low-Cost strategy - CORRECT ANSWER Driving the organization's costs down
below the costs of its rivals.
focus strategy - CORRECT ANSWER applying a differentiation or low-cost strategy
to a narrow market
, competitive scope - CORRECT ANSWER how broadly a firm targets its products or
services
Narrow Competitive Scope - CORRECT ANSWER The firm selects a segment or
group of segments in the industry and tailors its strategy to serving them at the
exclusion of others
Broad Competitive Scope - CORRECT ANSWER when many products and a large
range of buyers are targeted
value chain - CORRECT ANSWER all the activities a firm uses to design, produce,
market, deliver, and support its product
primary activities - CORRECT ANSWER the physical actions of creating, selling, and
after-sale service of products
upstream - CORRECT ANSWER early activities in the value chain, including
research and development and dealing with suppliers
downstream - CORRECT ANSWER later activities such as sales and dealing with
distribution channels
support activities - CORRECT ANSWER firm activities that add value indirectly, but
are necessary to sustain primary activities
utility of value chain - CORRECT ANSWER helps determine internal cost structure
by assessing cost levels of different activities
outsourcing - CORRECT ANSWER deliberate decision to have outsiders or strategic
allies perform certain activities in the value chain
What should not be outsourced? - CORRECT ANSWER tasks that are crucial to the
company's ability to achieve competitive advantage
offshoring - CORRECT ANSWER using the services of another country
How to find outsourcing potential - CORRECT ANSWER - financial attractiveness
Answers
Predict and prepare for quick changes in the business landscape - CORRECT
ANSWER Successful multinational companies can...
strategy - CORRECT ANSWER a combination of planned intent and adaptive
reactions
strategy must address - CORRECT ANSWER - which business a company wants to
be in
- how to create presence in a market
- how to win customers
- which country to enter
- what products to produce
Generic Strategy - CORRECT ANSWER basic ways for companies to achieve and
sustain a competitive advantage
Competitive Advantage - CORRECT ANSWER when a company outmatches rivals
and keeps targeted customer
differentiation and low cost - CORRECT ANSWER how to gain competitive
advantage
differentiation strategy - CORRECT ANSWER finding ways of providing superior
value to customers
Low-Cost strategy - CORRECT ANSWER Driving the organization's costs down
below the costs of its rivals.
focus strategy - CORRECT ANSWER applying a differentiation or low-cost strategy
to a narrow market
, competitive scope - CORRECT ANSWER how broadly a firm targets its products or
services
Narrow Competitive Scope - CORRECT ANSWER The firm selects a segment or
group of segments in the industry and tailors its strategy to serving them at the
exclusion of others
Broad Competitive Scope - CORRECT ANSWER when many products and a large
range of buyers are targeted
value chain - CORRECT ANSWER all the activities a firm uses to design, produce,
market, deliver, and support its product
primary activities - CORRECT ANSWER the physical actions of creating, selling, and
after-sale service of products
upstream - CORRECT ANSWER early activities in the value chain, including
research and development and dealing with suppliers
downstream - CORRECT ANSWER later activities such as sales and dealing with
distribution channels
support activities - CORRECT ANSWER firm activities that add value indirectly, but
are necessary to sustain primary activities
utility of value chain - CORRECT ANSWER helps determine internal cost structure
by assessing cost levels of different activities
outsourcing - CORRECT ANSWER deliberate decision to have outsiders or strategic
allies perform certain activities in the value chain
What should not be outsourced? - CORRECT ANSWER tasks that are crucial to the
company's ability to achieve competitive advantage
offshoring - CORRECT ANSWER using the services of another country
How to find outsourcing potential - CORRECT ANSWER - financial attractiveness
