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Management
Q:
The Japanese practice of employing a network form of supplier management rather than using costly acquisitions that is common in the West is known as:
a. Keiretsu.
b. Guanxi.
c. Chaebol.
d. Blat.
Q:
In looking at strategy, the authors address all of the following questions EXCEPT:
a. Why do firms differ?
b. How do firms behave?
c. What determines the scope of the firm?
d. Is strategy really necessary in business?
Q:
Diversification:
a. Is a relatively new concept in Western business .
b. Is believed by Western media to destroy value in emerging economies.
c. Is a poor idea and results in lower or no profitability in emerging economies.
d. Should be dismantled in emerging economies, based on recent research.
Q:
In an institution-based view of strategy, the informal rules of the game:
a. Must be avoided because global business is not a mere game.
b. Are being replaced by formal rules.
c. Often require that the firm seek to change the informal rules instead of going along with those rules.
d. Need to be understood by firms.
Q:
The _______ view primarily focuses on the ______ in a SWOT analysis.
a. Industry-based; OT
b. Resource-based;OT
c. Industry-based; SW
d. Resource-based; SW
Q:
The word _______has now become the most famous Chinese business word to appear in English-language media.
a. keiretsu
b. guanxi
c. chaebol
d. blat
Q:
Much of our knowledge about the firm is from research on firms in:
a. Anglo-American capitalism.
b. Japan after World War II.
c. German mathematical models.
d. Emerging markets.
Q:
When it comes to strategic work as defined by A. G. Lafley, CEOs are primarily responsible for:
a. Overseeing the tactical aspects of a firms work.
b. Shaping the values and standards of the firm.
c. Calling and presiding over strategy meetings.
d. Delegating the responsibility for making strategic choices .
Q:
Which of the following is NOT an advantage of strategy as theory?
a. It integrates both planning and action schools.
b. It requires both replications and experimentations.
c. It encompasses an understanding of the difficulty of strategic change.
d. It serves the single purpose of prediction.
Q:
Chandler advocated strategy as integration, a perspective in which:
a. Intended strategy is always superseded by emergent strategy.
b. Strategy is neither solely about plan nor action, but integrates both.
c. Top-down planning integrates a know yourself philosophy.
d. Bottom-up planning and flexibility are avoided as part of strategic planning.
Q:
Mintzberg advocated strategy as action in which:
a. Intended strategy is always superseded by emergent strategy.
b. Emergent strategy can arise in addition to intended strategy.
c. Top-down planning is most conducive to emergent strategy.
d. Bottom-up planning and flexibility are avoided as part of strategic planning.
Q:
The school of thought that views strategy as the outcome of rigorous formal planning is based on:
a. The work of Carl von Clausewitz, a Prussian military strategist.
b. Sun Tzus book The Art of War.
c. Mintzbergs ideas of bottom-up feedback.
d. Liddell Harts set of goal-oriented actions.
Q:
Strategic management is essentially:
a. Follows a one-size-fits-all philosophy.
b. A military concept rather than a business concept.
c. The way a firm goes about competing successfully from a big picture perspective.
d. None of the above.
Q:
Overall, strategy is:
a. A rulebook.
b. A blueprint.
c. A set of programmed instructions.
d. None of the above.
Q:
A hallmark of theory building and development is:
a. The outcome of a test.
b. Replication.
c. Intuition.
d. Consensus.
Q:
Strategy:
a. Dates back to 500 b.c. and the work of the strategist Sun Tzu of China.
b. Applies concepts developed by Napoleon.
c. In business competition uses principles distinctly different from military operations.
d. Is a fairly recent modern concept.
Q:
A primary reason to study global strategy is:
a. Strategy consultants with global experience are highly paid.
b. Understanding how strategic decisions are made can facilitate business careers.
c. Domestic employers are finding themselves working with foreign suppliers and buyers more and more often.
d. All of the above.
Q:
MNEs are increasingly finding that:
a. The strategy that works in their domestic market will most likely work best in foreign markets.
b. Tailoring strategies for particular markets is costly and often ineffective.
c. The quest for worldwide cost reduction and consolidation in global strategy has sacrificed local responsiveness.
d. Strategies targeted to emerging markets work best in developed markets as well.
Q:
GE developed a portable electrocardiograph machine originally for doctors in India and China that is now being sold in the United States at a significantly lower price than comparable products. This product is an example of:
a. Foreign direct investment.
b. Reverse innovation.
c. Intended strategy.
d. Intended strategy.
Q:
When looking at the global economy as a pyramid, MNEs:
a. Traditionally believed no money was to be made in base of the pyramid markets.
b. Are based almost exclusively in the top tier.
c. Face little competition from emerging markets at any level of the pyramid.
d. Tend to target the population at the base of the pyramid.
Q:
The notion of global strategy as a one-size-fits-all:
a. Adds to local responsiveness.
b. Provides the best way for companies to compete with domestic rivals as well as international rivals.
c. Fails to adequately accommodate firms in emerging economies.
d. Looks primarily at how MNEs compete with their domestic rivals in foreign countries.
Q:
Many BRIC local firms are:
a. Focused only on competing globally.
b. Growing their absolute GDP but failing to increase their percentage of world GDP.
c. Inadequate in mounting any competitive threat to Triad-based MNEs.
d. Effectively competing at home.
Q:
BRIC refers to:
a. Brazil, Russia, India, and China.
b. Bolivia, Romania, Indonesia, and Columbia.
c. Bulgaria, Belgium, Romania, Italy, and Canada.
d. Bahrain, Russia, Iran, and China.
Q:
Emerging economies (or emerging markets):
a. Now command a full one-half of the worldwide FDI flow.
b. Command half of the global gross domestic product (GDP) measured at purchasing power parity.
c. Consist of countries which are in a state of decline but which are believed to have potential for growth.
d. Despite their growth, they still command less than 10% of global GDP.
Q:
According to the text, the current brand of global strategy seems relevant only for MNEs from:
a. BRIC.
b. The Triad.
c. OPEC nations.
d. NAFTA.
e. The E. U.
Q:
Which of the following best defines Triad as the term is used in the text?
a. The United States, Japan, and Germany.
b. The United States, Canada, and Mexico.
c. North America, Europe, and Japan.
d. The U.S. dollar, the Euro, and the Yen.
Q:
Which of the following best describes foreign direct investment (FDI)?
a. A firms direct investment in production and/or service activities abroad.
b. The purchases of foreign securities by people within the United States.
c. The purchases of U. S. securities by people from other countries.
d. Avoidance of brokers or other financial intermediaries when making foreign investments.
Q:
Multinational enterprises (MNEs) are firms that:
a. Engage in foreign direct investment (FDI).
b. Delegate control of value-adding activities in other countries.
c. Standardize strategies across all business units.
d. None of the above.
Q:
A lot of opponents of globalization are nongovernmental organizations (NGOs), such as environmentalists and consumer groups.
a. True
b. False
Q:
According to the text, business students may tend to focus more on the economic gains of globalization, and be less concerned with its darker sides.
a. True
b. False
Q:
U.S. business students have positive views similar to those of the general public.
a. True
b. False
Q:
When surveyed about the benefit of globalization, a higher percentage of the American general public saw globalization as good for strengthening the economics of poor countries than as good for U.S. consumers.
a. True
b. False
Q:
Standardization in markets is the main goal of semiglobalization.
a. True
b. False
Q:
China in the 1970s is an example of an emerging economy.
a. True
b. False
Q:
The pendulum view of globalization explains the steady expansion and contraction of individual nations economies.
a. True
b. False
Q:
The recession that began in 2008 led to an increase in protectionist measures.
a. True
b. False
Q:
Semiglobalization involves doing business in either the Northern or Southern Hemisphere but not both.
a. True
b. False
Q:
During the 1990s there was an increase in both global trade and opposition to global trade.
a. True
b. False
Q:
During the second half of the twentieth century, Hong Kong, Singapore, South Korea, and Taiwan, refused to participate in the global economy and became known as the Four Toothless Tigers.
a. True
b. False
Q:
According to the text, todays most successful MNEs far exceed the historical clout of some MNEs such as Britains East India Company during colonial times.
a. True
b. False
Q:
The earliest MNEs existed in some form thousands of years ago in the Assyrian, Phoenician, and Roman empires.
a. True
b. False
Q:
Although global strategy is associated with business, the term globalization means the close integration of countries and peoples of the world.
a. True
b. False
Q:
In discussions of globalization, a case can be made for both extensive cultural integration as well as the promotion of inequality.
a. True
b. False
Q:
The textbooks goal is to approach global strategy as the way that both domestic firms and foreign entrants compete successfully.
a. True
b. False
Q:
The more traditional meaning of global strategy is any strategy outside ones home country.
a. True
b. False
Q:
The institution-based view argues that institutional forces provide an answer to similarities in firm performance but not differences.
a. True
b. False
Q:
The resource-based view suggests that firm-specific capabilities do not drive performance differences.
a. True
b. False
Q:
The industry-based view posits that the degree of competitiveness in an industry largely determines firm performance.
a. True
b. False
Q:
The text stresses that realism indicates that all companies should go global and endeavor to do so as quickly as possible in view of the vast opportunities that exist.
a. True
b. False
Q:
Determining the scope of the firm involves not only growth of the firm but also contraction.
a. True
b. False
Q:
Companies use balanced scorecards to summarize business information into a smaller number of critical factors.
a. True
b. False
Q:
The three key perspectives of strategy as a discipline include industry-based, resource-based, and labor-based views.
a. True
b. False
Q:
The Japanese use a formal system of interlocking business groups and relationships, known as guanxi, in determining business strategies.
a. True
b. False
Q:
The quality of management practices around the world does not seem to correlate well with the level of economic development.
a. True
b. False
Q:
The concept of strategy as integration means that strategy is a combination of planned deliberate actions and unplanned emergent activities.
a. True
b. False
Q:
The two primary purposes of a theory are to explain the past and predict the future.
a. True
b. False
Q:
If done well, a SWOT analysis will turn unrealized strategies into intended strategies.
a. True
b. False
Q:
If a strategy (theory) is truly successful, it will work not just for one firm but for all others as well.
a. True
b. False
Q:
A SWOT analysis resonates well with Sun Tzus teachings.
a. True
b. False
Q:
Global strategy has, in the past, been primarily focused on markets that consist of those people who are in the bottom tier of the global economic pyramid.
a. True
b. False
Q:
In the global economic pyramid, the top tier includes the 2 billion people whose annual per capita income is greater than US$20,000.
a. True
b. False
Q:
The current brand of global strategy seems relevant only for multinational enterprises from developed countries, primarily North America, Europe, and Japan.
a. True
b. False
Q:
A typical one-size-fits-all strategy remains the most effective for firms going global.
a. True
b. False
Q:
A multinational enterprise rarely engages in foreign direct investment.
a. True
b. False
Q:
As demonstrated at Samsung, it is easier for Westerners to adapt to Eastern work styles than for Easterners to adapt to Western work styles.
a. True
b. False
Q:
Within Samsungs Global Strategy Group, Korean colleagues have had to change their work styles to accommodate Westernized practices.
a. True
b. False
Q:
In the opening case, Samsungs Global Strategy Group has demonstrated that cultural integration is difficult, with retention rates below two-thirds.
a. True
b. False
Q:
The opening case is an example of how global companies hire employees locally and then train employees to work in other countries.
a. True
b. False
Q:
What is one of the key words used to describe the new innovation regime of the 21st Century? A. Envision B. Forge C. Create D. Discover
Q:
This new millennium has been characterized as _____________.
A. A period of immediate intelligence
B. A time of decreasing development
C. An age of instant information
D. None of the above
Q:
What can a corporation do to reengineer its thinking to foster the innovative process?
A. Begin doing old tasks more efficiently
B. Develop a new culture utilizing existing values
C. Shift projects to new innovators
D. Examine and revise its management philosophy
Q:
What is one of the key questions that can assist an organization in establishing its innovative process successfully?
A. Is your system set up to encourage risk taking
B. Have you developed an extended process to access the resources to try new ideas
C. Does your company discourage innovative thinking
D. Do you mismanage many small and experimental innovations
Q:
In order to maintain an entrepreneurial mindset, what is one responsibility managers must assume?
A. Develop rapport
B. Provide ongoing clarity
C. Absorb the uncertainty
D. Dissolve any complication
Q:
When the innovation process involves switching the people working on an idea that person is often not as committed as the originator of a project. True / False
Q:
Developing a corporate innovative philosophy promotes a climate conducive to high achievers. True / False
Q:
Most enterprises today have contemporary ideas about cooperative cultures.
True / False
Q:
One advantage of developing a corporate innovation philosophy is that it often leads to expansion and growth. True / False
Q:
The level of management you are in determines the amount of responsibility you have in the organizations entrepreneurial actions.
True / False
Q:
_____________ is the segment of planning that includes selling the business, going public and offering stock, or merging with another business. A. Milestone schedule B. Executive Summary C. Marketing plan D. Harvest Strategy
Q:
________________ are all actions that relate to one another in some way.
A. Action groups
B. Innovation sets
C. Action clusters
D. Engagement groups