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BMAL-590 Global Dimensions of Business with verified answers
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BMAL-590 Global Dimensions ofBusiness
Why Study Global Strategy? - correct answer ✔✔Knowing the concepts and components of global
strategy will improve job and career aspiration opportunities, build awareness of what is occurring in the
world, and avoid the downside risks of globalization.
Approximately 80 million people worldwide are directly employed by foreign-owned firms.
global strategy - correct answer ✔✔a firm's intention to provide standardized products and/or services
on a world-wide basis. Another definition suggests that global strategy is any strategy outside one's
home country.
However, the best definition is that "global strategy" is each firm's theory about how to compete
successfully in whatever global markets the firm chooses to compete.
"strategy as plan" - correct answer ✔✔The first school of thought
This school is the oldest and is based on the work of Carl von Clausewitz, a Prussian (German) military
strategist. This school suggests that strategy is embodied in the same explicit rigorous formal planning as
in the military.
"strategy as action" - correct answer ✔✔suggests that strategy is most fundamentally reflected by firms'
patterns of action.
The planning school has been challenged by Liddell Hart, a British military strategist. Hart argues that the
key to strategy is a set of flexible goal-oriented actions. He favored an indirect approach, which seeks
rapid flexible actions to avoid clashing with opponents head-on.
emergent strategy - correct answer ✔✔Henry Mintzberg, a Canadian scholar, posited that in addition to
the intended strategy that the planning school emphasizes, there can be an emergent strategy that is not
,the result of "top-down" planning, but that is the outcome of a stream of smaller decisions from the
"bottom up."
"strategy as integration" - correct answer ✔✔Although the debate between the planning school and
action school is difficult to resolve, many scholars and managers have realized that the essence of
strategy is likely to be a combination of both planned deliberate actions and unplanned emergent
activities
defines strategy as "a firm's theory about how to compete successfully." In other words, if we have to
define strategy with one word, our choice is neither plan nor action - it is theory. A theory serves two
purposes: explanation and prediction.
Strategy as a theory - correct answer ✔✔describes how to compete successfully in a global market.
Firms have both intended and emergent strategies, meaning, some strategies are defined from the
outset while others develop with the firm's participation in the marketplace.
It is often difficult to change strategy so firms must guard against total adherence to a strategy because
to do so would hamper adaptation in new situations. Strategy should continue to give coherence to
decisions and actions. Managers must exert effective strategic leadership both in a global and a local
perspective.
Theory building and development requires replication and experimentation to establish the temporal
(time-related) and geographic limits of an existing theory. The strategy as theory perspective helps us
understand why it is often difficult to change strategy.
Why do firms differ? - correct answer ✔✔The largest influences are a reflection of the cultural
differences between Western and Japanese companies.
In Western firms, the competition among companies drives the process. In other companies, like the
Japanese, networks of relationships have powerful effects.
Where does most of our knowledge of firms come from? - correct answer ✔✔Anglo-American capitalism
, keiretsu - correct answer ✔✔Japanese firms extensively employ a network form of supplier
management, giving rise to the term keiretsu (inter-firm network).
guanxi - correct answer ✔✔The Chinese favor guanxi (interpersonal networks), cultivated by managers,
that may serve as informal substitutes for formal institutional support. In other words, interpersonal
relationships among managers are translated into an inter-firm strategy of relying on networks and
alliances to grow the firm, which, in the aggregate, contributes to the growth of the economy.
How do firms behave? - correct answer ✔✔Companies that embrace the industry-based view focus on
competitive forces within an industry that impact all firms.
According to this perspective, a firm's success in the Indian IT industry depends on the unique attributes
of the IT industry, its knowledge-intensive nature, and non-location based boundaries.
resource-based (capabilities) - correct answer ✔✔Those firms that adhere to the resource-based
(capabilities) view focus on internal strengths and weaknesses, that is, firm-specific resources and
capabilities.
For example, successful Indian IT firms tend to have capabilities that are valuable, unique, and hard for
rivals to imitate or replicate.
institution-based view - correct answer ✔✔focus on government and societal forces.
For example, the pro-market reforms in India have opened the door for many Indian IT companies to win
foreign contracts, while at the same time, legislation by various states in the U.S. has banned Indian IT
firms from winning contracts.
Triad markets - correct answer ✔✔North America, Europe, and Japan
If a firm wants to become a true "global leader," it is necessary to create a strong competitive position in
each of the Triad markets
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