100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
BMAL 590 Global Dimensions of Business Exam with correct Answers $12.49   Add to cart

Exam (elaborations)

BMAL 590 Global Dimensions of Business Exam with correct Answers

 2 views  0 purchase
  • Course
  • BMAL-590
  • Institution
  • BMAL-590

BMAL 590 Global Dimensions of Business Exam with correct Answers

Preview 2 out of 13  pages

  • October 28, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BMAL-590
  • BMAL-590
avatar-seller
millyphilip
BMAL 590 Global Dimensions of
Business Exam with correct Answers

Global Strategy - Answers -Each firm's theory about how to compete successfully in
whatever global markets the firm chooses to compete

Stragegy as a Plan - Answers -Suggests that strategy is embodied in the same explicit
rigorous formal planning as in the military

Strategy as an Action - Answers -Suggests that strategy is most fundamentally reflected
by firms' patterns of action

Strategy as an Integration - Answers -Defines strategy as "a firm's theory about how to
compete successfully"

Multi-market competition - Answers -Occurs when firms engage the same rivals in
multiple markets

Mutual forbearance - Answers -Reduction of competitive intensity among rivals of multi-
market competition industries

Industry-based considerations - Answers -Always concerned with inter-firm rivalry

Concentration; industry leader; product homogeneity; stability of demand and supply;
entry barriers; market commonality with rivals

Collusion - Answers -Collective attempts to reduce competition

Tacit collusion - Answers -when firms indirectly coordinate actions by signaling intent to
reduce output and maintain pricing above competitive levels

Explicit collusion - Answers -when firms directly negotiate production output and pricing
agreements to reduce competition and divide markets

Cartel - Answers -An output and price-fixing entity involving multiple competitors

Resource-based considerations - Answers -Include: value; rarity; imitability;
organization; resource similarity; and fighting low-cost rivals

valuable capabilities to attack, deter or retaliate; rarity of certain assets; imitability of
competition; organizational skills for actions; resource similarity with rivals

, Institution-based considerations - Answers -Advise managers to be well versed in the
"rules of the game" governing domestic and international competition

domestic competition: primarily competition/anti-trust policy

International competition: primarily trade/anti-dumping policy

American Anti-trust policy - Answers -Pro-consumer

Collusive price setting - Answers -Anti-trust law that refers to monopolists or collusion
parties setting prices at a level higher than the competitive level

Predatory pricing - Answers -Anti-trust law that refers to practices of setting prices
below costs in the short run to destroy rivals with the intent of raising prices to cover
losses in the long run after eliminating rivals

Extraterritoriality - Answers -The reach of one country's laws to other countries

Dumping - Answers -An exporter selling below cost abroad and planning to raise prices
after eliminating local rivals in an attempt to manipulate international competition

Export cartels - Answers -Alliances of firms that cooperate in exporting

Attack - Answers -An initial set of actions to gain competitive advantage.

Counterattack - Answers -a set of actions in response to an attack

3 main types of attack - Answers -Thrust: brute force

feint: attack on a focal arena important to a competitor

gambit: a move that sacrifices a low-value piece in order to capture a high-value piece
or improve one's position significantly

3 distinct elements of a counterattack - Answers -Awareness: of competition, market
commonality, & resource similarity

Motivation: choose to attack wisely

Capabilities: managers must know their strengths and use them

4 legal ways to "wink" at competitors - Answers -1. Non-aggression (fat cat)
2. Market entry has the same effect as firms may enter new markets to seek mutual
forbearance by establishing multi-market contact
3. Firms can send an open signal for a truce

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

85443 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart