BMAL-590 GLOBAL DIMENSIONS OF BUSINESS QUESTIONS WITH CORRECT ANSWERS

Why Study Global Strategy? CORRECT ANSWER Knowing the concepts and components of global strategy will improve job and career aspiration opportunities, build awareness of what is occurring in the world, and avoid the downside risks of globalization. Approximately 80 million people worldwide are directly employed by foreign-owned firms. global strategy CORRECT ANSWER a firm's intention to provide standardized products and/or services on a world-wide basis. Another definition suggests that global strategy is any strategy outside one's home country. However, the best definition is that "global strategy" is each firm's theory about how to compete successfully in whatever global markets the firm chooses to compete. "strategy as plan" CORRECT ANSWER The first school of thought This school is the oldest and is based on the work of Carl von Clausewitz, a Prussian (German) military strategist. This school suggests that strategy is embodied in the same explicit rigorous formal planning as in the military. "strategy as action" CORRECT ANSWER suggests that strategy is most fundamentally reflected by firms' patterns of action. The planning school has been challenged by Liddell Hart, a British military strategist. Hart argues that the key to strategy is a set of flexible goal-oriented actions. He favored an indirect approach, which seeks rapid flexible actions to avoid clashing with opponents head-on. emergent strategy CORRECT ANSWER Henry Mintzberg, a Canadian scholar, posited that in addition to the intended strategy that the planning school emphasizes, there can be an emergent strategy that is not the result of "top-down" planning, but that is the outcome of a stream of smaller decisions from the "bottom up." "strategy as integration" CORRECT ANSWER Although the debate between the planning school and action school is difficult to resolve, many scholars and managers have realized that the essence of strategy is likely to be a combination of both planned deliberate actions and unplanned emergent activities defines strategy as "a firm's theory about how to comp