IB 300 Test exam questions with
answers well verified
Which of the following is correct about scenario? - ANS✅✅1. Scenarios are intended to be
plausible and challenging stories.
2. Managers develop scenarios and use them for discussion.
Which of the following is correct about scenario analyses? - ANS✅✅1. The objective of the process
is to force executives to question their assumptions about the environment.
2. The process attempts to incorporate the uncertainty and potential changes that might impact
strategic and operational performance.
International Strategy - ANS✅✅1. Needs to be consistent with the demands of the international
competitive environment.
2. Is concerned with the way firms make fundamental choices about developing and deploying
scarce resources internationally.
3. Has a goal of achieving and maintaining competitive advantage.
To be effective, a company's international strategy - ANS✅✅Needs to be consistent with the
variety of demands associated with operating in the international competitive environment
A company's ability to achieve and maintain a unique and valuable competitive position both within
a nation and globally, generating higher rates of profit than its competitors, is known as... -
ANS✅✅Competitive Advantage
Which of the following is correct regarding the skills or competencies a company must develop in
order to achieve a sustainable competitive advantage? - ANS✅✅They are difficult to substitute for.
To create a competitive advantage that is sustainable over time, the international company should
try to develop competencies that.... - ANS✅✅Create value for customers and for which they are
willing to pay.
Managers of international companies that are attempting to develop a competitive advantage face a
formidable challenge because.... - ANS✅✅1. Resources are always scarce.
2. There are many alternative ways to use the company's scarce resources.
, 3. Managers are forced to make choices regarding what to do and what not to do.
The process by which an organization determines where it is going in the future, how it will get
there, and how it will assess whether and to what extent it has achieved its goals is known as.... -
ANS✅✅Strategic Planning
According to the text, when the managers are analyzing the corporate controllable variables, the
three key questions managers must address about their business include... - ANS✅✅1. Who are
the company's target customers?
2. What value does the company want to deliver to their customers?
3. How will the customers value be created?
An assessment conducted on the chain of interlinked activities of an organization or set of
interconnected organizations, intended to determine where and to what extent value is added to
the final product or service is known as... - ANS✅✅Value Chain Analysis
Knowledge that an individual has but that is difficult to express clearly in words, pictures, or
formulae, and therefore difficult to transmit to others is known as... - ANS✅✅Tacit Knowledge
Knowledge that an individual has that is easy to express clearly in words, pictures, or formulae is
known as.... - ANS✅✅Explicit Knowledge
According to the text, when the international company's planning committee has completed the
internal audit, it is ready to examine... - ANS✅✅The company's mission statement and value
statement
A description of the company's desired future position if it can acquire the necessary competencies
and successfully implement its strategy is known as a... - ANS✅✅Vision Statement
A clear, concise description of the fundamental beliefs and priorities expected of the organization's
members, reflecting how they are to behave with each other and with the company's customers,
suppliers, and other members of the global community is known as... - ANS✅✅Value Statement
According to the text, the two main issues for management to consider in designing an international
company's structure include which of the following? - ANS✅✅Finding the most effective way to
departmentalize and coordinate activities
answers well verified
Which of the following is correct about scenario? - ANS✅✅1. Scenarios are intended to be
plausible and challenging stories.
2. Managers develop scenarios and use them for discussion.
Which of the following is correct about scenario analyses? - ANS✅✅1. The objective of the process
is to force executives to question their assumptions about the environment.
2. The process attempts to incorporate the uncertainty and potential changes that might impact
strategic and operational performance.
International Strategy - ANS✅✅1. Needs to be consistent with the demands of the international
competitive environment.
2. Is concerned with the way firms make fundamental choices about developing and deploying
scarce resources internationally.
3. Has a goal of achieving and maintaining competitive advantage.
To be effective, a company's international strategy - ANS✅✅Needs to be consistent with the
variety of demands associated with operating in the international competitive environment
A company's ability to achieve and maintain a unique and valuable competitive position both within
a nation and globally, generating higher rates of profit than its competitors, is known as... -
ANS✅✅Competitive Advantage
Which of the following is correct regarding the skills or competencies a company must develop in
order to achieve a sustainable competitive advantage? - ANS✅✅They are difficult to substitute for.
To create a competitive advantage that is sustainable over time, the international company should
try to develop competencies that.... - ANS✅✅Create value for customers and for which they are
willing to pay.
Managers of international companies that are attempting to develop a competitive advantage face a
formidable challenge because.... - ANS✅✅1. Resources are always scarce.
2. There are many alternative ways to use the company's scarce resources.
, 3. Managers are forced to make choices regarding what to do and what not to do.
The process by which an organization determines where it is going in the future, how it will get
there, and how it will assess whether and to what extent it has achieved its goals is known as.... -
ANS✅✅Strategic Planning
According to the text, when the managers are analyzing the corporate controllable variables, the
three key questions managers must address about their business include... - ANS✅✅1. Who are
the company's target customers?
2. What value does the company want to deliver to their customers?
3. How will the customers value be created?
An assessment conducted on the chain of interlinked activities of an organization or set of
interconnected organizations, intended to determine where and to what extent value is added to
the final product or service is known as... - ANS✅✅Value Chain Analysis
Knowledge that an individual has but that is difficult to express clearly in words, pictures, or
formulae, and therefore difficult to transmit to others is known as... - ANS✅✅Tacit Knowledge
Knowledge that an individual has that is easy to express clearly in words, pictures, or formulae is
known as.... - ANS✅✅Explicit Knowledge
According to the text, when the international company's planning committee has completed the
internal audit, it is ready to examine... - ANS✅✅The company's mission statement and value
statement
A description of the company's desired future position if it can acquire the necessary competencies
and successfully implement its strategy is known as a... - ANS✅✅Vision Statement
A clear, concise description of the fundamental beliefs and priorities expected of the organization's
members, reflecting how they are to behave with each other and with the company's customers,
suppliers, and other members of the global community is known as... - ANS✅✅Value Statement
According to the text, the two main issues for management to consider in designing an international
company's structure include which of the following? - ANS✅✅Finding the most effective way to
departmentalize and coordinate activities
