Exam (elaborations)

BMAL 590 Global Dimensions of Business Review (Latest 2024/ 2025 Update) Qs & As|| 100% Correct| Grade A (Verified Answers)

Rating

Sold

Pages

Grade

A+

Uploaded on

05-10-2024

Written in

2024/2025

BMAL 590 Global Dimensions of Business Review (Latest 2024/ 2025 Update) Qs & As|| 100% Correct| Grade A (Verified Answers) Q: What determines the success and failure of firms around the globe? Answer: The focus on performance, more than anything else, defines the field of strategic management and international business. Businesses are not only interested in acquiring and leveraging competitive advantage, but also in sustaining such advantages over time and across regions. All three major perspectives that form the "strategy tripod" ultimately seek to answer this question. The international success or failure of firms is determined by three views of the marketplace and how the firm responds to each of those views. The industry-based view attends to the degree of competitiveness in the industry. The resource-based view evaluates success or failure on firm-specific differences in capabilities and the resulting performance differences. The institution-based view attends to institutional forces, such as economic reforms and government policy, which may affect a firm's success or failure. Q: multinational enterprises (MNEs) Answer: Organizations with operations in multiple countries. The traditional and narrowly defined notion of "global strategy" refers to a particular theory on how to compete and is centered on offering standardized products and services on a world-wide basis. This strategy, obviously, is only relevant for MNEs Q: "international strategy" Answer: the second most popular definition of global strategy refers to any strategy outside one's home country. This is not an accurate view as it is narrow and one-directional in terms of business relationships. Q: What is the most accurate and insightful definition of global strategy? Answer: the strategy of firms around the world; each firm's theory about how to compete successfully in whatever country's markets the firm chooses to compete This definition deals with both the strategy of MNEs (some of which may fit into the traditional narrow global strategy definition) and the strategy of smaller firms (some of which may have an international presence, while others may be purely domestic). These firms compete in both developed and emerging economies. International business involves two sides: domestic firms and foreign entrants. Q: What are the three different views of globalization? Answer: 1. Sees globalization as a recent phenomenon driven by technological innovations in transportation and communication. 2. Recognizes the early historical roots of globalization 3. Likened to a pendulum that swings from one extreme to the other. Semi-globalization chooses a middle ground between opposition and unconditional acceptance of globalization. Q: What do opponents of globalization argue? Answer: it needs to be slowed down, if not stopped, because of the tendency of MNEs to exploit and dominate the world. This view argues that globalization has undermined wages in rich countries, exploited workers in poor countries, devastated the environment, compromised human rights, diminished national sovereignty, and given large MNEs too much power. Q: The current state of globalization: Answer: can be summarized as semi-globalization because barriers to market integration at borders are high, but not high enough to completely insulate countries from each other. Q: What are the three sets of sudden high-profile events have occurred that have significant ramifications for companies and strategists around the world: Answer: (1) anti-globalization protests - lost jobs, downward pressure on wages for unskilled labor, environmental destruction (2) terrorist attacks resulting in reduced freedom of international movement, enhanced security checkpoints which reduce transit speed and efficiency, and cancelled or scaled down foreign direct investment (FDI) projects and trade deals, especially in high risk regions (3) the corporate governance crisis triggered by the 1997 Asian financial crisis and the scandals of Enron and WorldCom in the United States. Q: What does the resource-based view focus on?

Show more Read less

Institution

BMAL 590

Course

BMAL 590

Content preview

BMALI590IGlobalIDimensionsIofIBusinessI
ReviewI(LatestI2024/I2025IUpdate)IQsI&IAs|
|I100%ICorrect|IGradeIAI(VerifiedIAnswers)

Q:IWhatIdeterminesItheIsuccessIandIfailureIofIfirmsIaroundItheIglobe?

Answer:
TheIfocusIonIperformance,ImoreIthanIanythingIelse,IdefinesItheIfieldIofIstrategicImanagement
IandIinternationalIbusiness.IBusinessesIareInotIonlyIinterestedIinIacquiringIandIleveragingIcom
petitiveIadvantage,IbutIalsoIinIsustainingIsuchIadvantagesIoverItimeIandIacrossIregions.IAllIth
reeImajorIperspectivesIthatIformItheI"strategyItripod"IultimatelyIseekItoIanswerIthisIquestion.

TheIinternationalIsuccessIorIfailureIofIfirmsIisIdeterminedIbyIthreeIviewsIofItheImarketplaceIa
ndIhowItheIfirmIrespondsItoIeachIofIthoseIviews.I

TheIindustry-basedIviewIattendsItoItheIdegreeIofIcompetitivenessIinItheIindustry.I

TheIresource-basedIviewIevaluatesIsuccessIorIfailureIonIfirm-
specificIdifferencesIinIcapabilitiesIandItheIresultingIperformanceIdifferences.I

TheIinstitution-
basedIviewIattendsItoIinstitutionalIforces,IsuchIasIeconomicIreformsIandIgovernmentIpolicy,Iw
hichImayIaffectIaIfirm'sIsuccessIorIfailure.

Q:ImultinationalIenterprisesI(MNEs)

Answer:
OrganizationsIwithIoperationsIinImultipleIcountries.

TheItraditionalIandInarrowlyIdefinedInotionIofI"globalIstrategy"IrefersItoIaIparticularItheoryIo
nIhowItoIcompeteIandIisIcenteredIonIofferingIstandardizedIproductsIandIservicesIonIaIworld-
wideIbasis.IThisIstrategy,Iobviously,IisIonlyIrelevantIforIMNEs

,Q:I"internationalIstrategy"

Answer:
theIsecondImostIpopularIdefinitionIofIglobalIstrategy

refersItoIanyIstrategyIoutsideIone'sIhomeIcountry.IThisIisInotIanIaccurateIviewIasIitIisInarrowI
andIone-directionalIinItermsIofIbusinessIrelationships.

Q:IWhatIisItheImostIaccurateIandIinsightfulIdefinitionIofIglobalIstrategy?

Answer:
theIstrategyIofIfirmsIaroundItheIworld;IeachIfirm'sItheoryIaboutIhowItoIcompeteIsuccessfullyIi
nIwhateverIcountry'sImarketsItheIfirmIchoosesItoIcompete

ThisIdefinitionIdealsIwithIbothItheIstrategyIofIMNEsI(someIofIwhichImayIfitIintoItheItradition
alInarrowIglobalIstrategyIdefinition)IandItheIstrategyIofIsmallerIfirmsI(someIofIwhichImayIha
veIanIinternationalIpresence,IwhileIothersImayIbeIpurelyIdomestic).I

TheseIfirmsIcompeteIinIbothIdevelopedIandIemergingIeconomies.IInternationalIbusinessIinvolv
esItwoIsides:IdomesticIfirmsIandIforeignIentrants.

Q:IWhatIareItheIthreeIdifferentIviewsIofIglobalization?

Answer:
1.ISeesIglobalizationIasIaIrecentIphenomenonIdrivenIbyItechnologicalIinnovationsIinItransport
ationIandIcommunication.I

2.IRecognizesItheIearlyIhistoricalIrootsIofIglobalization

3.ILikenedItoIaIpendulumIthatIswingsIfromIoneIextremeItoItheIother.I

Semi-
globalizationIchoosesIaImiddleIgroundIbetweenIoppositionIandIunconditionalIacceptanceIofIgl
obalization.

, Q:IWhatIdoIopponentsIofIglobalizationIargue?

Answer:
itIneedsItoIbeIslowedIdown,IifInotIstopped,IbecauseIofItheItendencyIofIMNEsItoIexploitIandId
ominateItheIworld.IThisIviewIarguesIthatIglobalizationIhasIunderminedIwagesIinIrichIcountries
,IexploitedIworkersIinIpoorIcountries,IdevastatedItheIenvironment,IcompromisedIhumanIrights,
IdiminishedInationalIsovereignty,IandIgivenIlargeIMNEsItooImuchIpower.

Q:ITheIcurrentIstateIofIglobalization:

Answer:
canIbeIsummarizedIasIsemi-
globalizationIbecauseIbarriersItoImarketIintegrationIatIbordersIareIhigh,IbutInotIhighIenoughIt
oIcompletelyIinsulateIcountriesIfromIeachIother.

Q:IWhatIareItheIthreeIsetsIofIsuddenIhigh-
profileIeventsIhaveIoccurredIthatIhaveIsignificantIramificationsIforIcompaniesIandIstrategistsIa
roundItheIworld:

Answer:
(1)Ianti-globalizationIprotestsI-
IlostIjobs,IdownwardIpressureIonIwagesIforIunskilledIlabor,IenvironmentalIdestruction

(2)IterroristIattacksIresultingIinIreducedIfreedomIofIinternationalImovement,IenhancedIsecurity
IcheckpointsIwhichIreduceItransitIspeedIandIefficiency,IandIcancelledIorIscaledIdownIforeignI
directIinvestmentI(FDI)IprojectsIandItradeIdeals,IespeciallyIinIhighIriskIregions

(3)ItheIcorporateIgovernanceIcrisisItriggeredIbyItheI1997IAsianIfinancialIcrisisIandItheIscandal
sIofIEnronIandIWorldComIinItheIUnitedIStates.

Report Copyright Violation

Written for

Institution: BMAL 590
Course: BMAL 590

Document information

Uploaded on: October 5, 2024
Number of pages: 29
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

Subjects

bmal 590
global d
bmal 590 global dimensions of business review lat
what does the resource based view focus on
what determines the success and failure of firms a
bmal 590 global dimensions of business

$11.49

Get access to the full document:

Written by students who passed

Immediately available after payment

Read online or as PDF

Get to know the seller

nurse_steph

3.9

(1729)

Also available in package deal

Get to know the seller

nurse_steph Rasmussen College

View profile

Sold

9736

Member since

5 year

Number of followers

5151

Documents

7964

Last sold

1 day ago

Exams, Study guides, Reviews, Notes

All study solutions.

3.9

1729 reviews

880

305

262

201

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

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 nurse_steph. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews) 51658 documents were sold in the last 30 days Founded in 2010, the go-to place to buy study notes for 16 years now

BMAL 590 Global Dimensions of Business Review (Latest 2024/ 2025 Update) Qs & As|| 100% Correct| Grade A (Verified Answers)

Content preview

Written for

Document information

Subjects

Also available in package deal

Get to know the seller

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Didn't get what you expected? Choose another document

Pay as you like, start learning right away

Working on your references?

Frequently asked questions

What do I get when I buy this document?

Satisfaction guarantee: how does it work?

Who am I buying these notes from?

Will I be stuck with a subscription?

Can Stuvia be trusted?