International Business Strategy Exam Bundle Graded A+

strategic management - ANSWER-a way of managing the firm from a strategic "big picture" perspective strategy - ANSWER-a firm's theory about how to compete successfully strategy as plan - ANSWER-a perspective that suggests that strategy is most fundamentally embodied in explicit, rigorous fo...

Born Global Firm - ANSWER-A young company that initiates int'l business activity very early in its evolution, moving quickly to foreign markets Commercial Risk - ANSWER-firm's potential loss or failure from poorly developed or executed business strategies, tactics, or procedures Country Risk...

What is a firm's core strategy - ANSWER-obtain competitive advantage, drive the company. Business level 80% of the time List the business-level strategies - ANSWER-Differentiation: Cost leadership: Focus differentiation: Differentiation cost leadership Integrated differentiation & Cost lea...

Liability of Foreignness - ANSWER-the inherent disadvantage that foreign firms experience in host countries because of their nonnative status Overcoming the Liability of Foreignness - ANSWER-A comprehensive model of foreign market entries > Where to enter? > When to enter? > How to en...

strategy - ANSWER-action plan for outperforming its competitors and achieving superior profitability competitive advantage - ANSWER-provides buyers with superior value compared to rival sellers or offers the same value at a lower cost to the firm sustainable - ANSWER-advantage exists despite t...

1. In the strategy formulation phase of the strategic management process, what are the different levels of strategy? a. Industry, organizational and international level b. Micro, meso and macro level c. Individual, national and international level d. Business, corporate and international level -...

International strategy refers to a(n) a. action plan pursued by American companies to compete against foreign companies operating in the United States. b. strategy through which the firm sells products in markets outside the firm's domestic market. c. political and economic action plan develo...

Briefly 3 identify the major reasons a company may choose to expand outside its domestic market. - ANSWER-1. To gain access to new customers. 2. To achieve lower costs and enhance the firm's competitiveness. 3. To gain access to resources and capabilities located in foreign markets. What are t...

Strategic Management - ANSWER-Analysis, formulation, and implementation for creating and sustaining competitive advantage Competitive advantage - ANSWER-outperforming peers Four Key Attributes of Strategic Management - ANSWER-1. Directed at overall goals of organization 2. Involves multiple s...

Strategy - ANSWER-the coordinated set of actions that a company's managers take in order to outperform the company's competitors and achieve superior profitability Three Central Questions all Businesses Face - ANSWER-1) What is our Present Situation? - Industry conditions and market pressures, ...

A company that fails to manage its strategic alliance probably has - ANSWER-refrained from making commitments to its partners and ensured they do the same. The Achilles' heel (or biggest disadvantage/pitfall) of relying heavily on alliances and cooperative strategies is - ANSWER-becoming depende...

Four International Corporate-Level Strategies - ANSWER-international multinational global transnational International Strategies - ANSWER-refers to selling products in markets outside the firm's domestic market - companies try to create value by *transferring skills and products to foreign...

International Trade - ANSWER->exchange of capital, goods/services across international borders Foreign Direct Investment (FDI) - ANSWER->occurs when a firm invests resources in business activities outside its home country Home Country - ANSWER->country where the HQ is located Host ...

International strategic management - ANSWER-a comprehensive and ongoing management planning process aimed at formulating and implementing strategies that enable a firm to compete effectively internationally Strategic planning - ANSWER-the process of developing a particular international strategy ...

Strategy - ANSWER-The actions that managers take to attain the goals of the firm Profitability - ANSWER-The rate of return the firm makes on its invested capital Profit growth - ANSWER-The percentage increase in net profit over time Methods to increase profitability - ANSWER-Add value or lo...

What is Free Trade? - ANSWER-the movement of goods and services among nations without political or economic barriers. Refers to a situation where a government does not attempt to restrict what its citizens can buy from another country or what they can sell to another country Free Trade=no gove...

Strategy formulation - ANSWER-the process of deciding what to do also called strategizing strategy implementation - ANSWER-process of performing all the activities necessary to do what has been planned business strategy - ANSWER-ways a firm goes about achieving it's objectives within a partic...

cost reduction & to be locally responsive - ANSWER-global competitive pressures: 1. national differences 2. scale economies 3. scope economies - ANSWER-global sources of competitive advantage: national differences - ANSWER-differences in factor costs (wages, capital costs, infrastructure) an...

Why Do Firms Internationalize? - ANSWER-1) Seeking markets 2) Seeking resources 3) Reduce risk 4) Differentiate 5) Competitive reasons Seeking markets (as a reason for internationalization) - ANSWER-A firm might seek to internationalize in order to reach new customers and expand its sales vol...

Strategy must decide on three parameters: - ANSWER-1. Who they will target as customers and who they will not 2. The products and services they will and will not offer 3. How they will go about achieving this - what activities will they undergo? BUT must be distinctive from other companies strate...

Multinational & global strategy - ANSWER-What are the two main international level strategies? primary & support activities - ANSWER-Value-chain analysis separates a company's activities into two categories of activities ........... Corporate level - ANSWER-Business retrenchment fall under wh...

Strategy formulation (strategizing) - ANSWER-The process of deciding what to do. Strategy implementation - ANSWER-The process of performing all the activities necessary to do what has been planned. Business strategy - ANSWER-The ways a firm goes about achieving its objectives within a particul...

Strategy - ANSWER-the actions taken by managers to attain the goals of the firm Profitability - ANSWER-the rate of return the firm makes on its invested capital Profit growth - ANSWER-the percentage increase in net profits over time Value creation - ANSWER-the difference between V (the pric...

strategy - ANSWER-the actions that managers take to attain the goals of the firm profitability - ANSWER-the rate of return the firm makes on its invested capital; a ration or rate of return concept profit growth - ANSWER-the percentage increase in net profits over time value creation - ANSW...

The actions that managers take to attain the goals of the firm are referred to as a firm's strategy. - ANSWER-True Profit growth is measured by the percentage increase in net profits over time. - ANSWER-True The amount of value a firm creates is measured by the difference between its costs of...

Globalization - ANSWER-Guillén (2001) defines it as 'a process leading to greater interdependence and mutual awareness (reflexivity) among economic, political and social units in the world, and among actors in general'. Benefits of Globalization - ANSWER-Benefits of Globalization: Economic Gr...

What are the different types of market entry strategy? - ANSWER-Exporting Licensing Franchising Wholly owned foreign enterprises Equity joint ventures/Strategic alliances Which of these strategies presents the lowest risk when it comes to internationalization? - ANSWER-Exporting Which of t...

What are the things you need to look at when a company is trying to internationalize - ANSWER-company strengths and weaknesses for international business, by evaluating key factors, such as: • Appropriate financial and tangible resources. • Relevant skills and competencies. Management's commitm...

(T/F) A company does not need a large size to facilitate, and benefit from, the globalization of markets - ANSWER-True (T/F) Outsourcing is a process that is limited to manufacturing enterprises - ANSWER-False (T/F) The World Bank has focused on policing the world trading system and making sur...