Global Strategy Exam Questions
Course Introduction
Global Strategy explores how organizations formulate, implement, and evaluate strategies in an international context. The course examines the impact of globalization on competitive dynamics, entry modes into foreign markets, and the role of cultural, political, and economic differences in strategic decision-making. Students learn to analyze global industries, assess risks and opportunities, and develop sustainable strategies for multinational enterprises. Through case studies and real-world examples, the course emphasizes strategic thinking and agility in navigating the complexities of a constantly evolving global business environment.
Recommended Textbook
Crafting and Executing Strategy Concepts and Cases 21st Edition by Thompson
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12 Chapters
1434 Verified Questions
1434 Flashcards
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Page 2
Chapter 1: What Is Strategy and Why Is It Important
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Which of the following is NOT typically a trigger to an evolving strategy?
A) the need to keep strategy in step with changing circumstances, market conditions, and changing customer needs and expectations
B) the proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy
C) the need to abandon some strategy features that are no longer working well
D) the need to respond to the newly initiated actions and competitive moves of rival firms
E) the need to respond to short-term swings in the stock market
Answer: E
Q2) __________ is the set of actions that its managers take to outperform the company's competitors and achieve superior profitability.
A) A strategy
B) A mission statement
C) Strategic intent
D) A cost-price framework
E) A market vision
Answer: A
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Page 3
Chapter 2: Leading the Process of Crafting and Executing Strategy
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Explain why an organization needs a strategic vision. What purpose does a strategic vision serve?
Answer: Top management's views and conclusions about the company's long-term direction and what product-market-customer business mix seems optimal for the road ahead constitute a strategic vision for an organization. A strategic vision delineates management's aspirations for the organization, providing a panoramic view of "where we are going" and a convincing rationale for why this makes good business sense for the company. A strategic vision thus points an organization in a particular direction, charts a strategic path for it to follow, builds commitment to the future course of action, and molds organizational identity. A clearly articulated strategic vision communicates management's aspirations to stakeholders (customers, employees, stockholders, suppliers, etc.) and helps steer the energies of personnel in a common direction.
Q2) What is the managerial value of a good strategic vision?
Answer: For a strategic vision to function as a valuable management tool, it must convey what top executives want the business to look like and provide managers at all organizational levels with a reference point in making strategic decisions and preparing the company for the future. It must say something definitive about how the company's leaders intend to position the company beyond where it is today.
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Chapter 3: Evaluating a Companys External Environment
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) Industry conditions change because of
A) such powerful driving forces as swings in buyer demand, changing interest rates, ups and downs in the economy, and higher/lower entry barriers.
B) newly emerging industry threats and industry opportunities that alter the composition of the industry's strategic groups.
C) newly emerging industry key success factors.
D) important forces enticing or pressuring certain industry participants (competitors, customers, suppliers) to alter their actions in important ways.
E) changes in the barriers to entry and the degree of competition from substitute products.
Answer: D
Q2) The competitive pressures from substitute products tend to be stronger when
A) good substitutes are readily available.
B) there are fewer number of substitute products.
C) substitutes have lower performance features.
D) buyers incur high costs in switching to substitutes.
E) substitutes are priced above the market.
Answer: A
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5
Chapter 4: Evaluating a Companys Resources and Competitive Position
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) The competitive power of a company resource strength or competitive capability hinges on all of the following EXCEPT
A) how hard it is for competitors to copy.
B) whether it is rare and something rivals lack.
C) whether it is really competitively valuable and has the potential to contribute to a competitive advantage.
D) whether it is nonsubstitutable.
E) whether it is readily available for rivals to adopt.
Q2) Which of the following is NOT an option for remedying a supplier-related cost disadvantage?
A) Integrate backward into the business of high-cost suppliers in an effort to reduce the costs of the items being purchased.
B) Negotiate more favorable prices with suppliers.
C) Collaborate closely with suppliers to identify mutual cost-saving opportunities.
D) Switch to lower-priced substitute inputs.
E) Persuade forward channel allies to implement best practices.
Q3) Why do a company's core competencies matter in crafting strategy?
Q4) Explain why a weighted competitive strength assessment is important.
Page 6
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Chapter 5: The Five Generic Competitive Strategies: Which
One to Employ
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Focused strategies keyed either to low cost or differentiation are especially appropriate for situations where
A) the market is composed of distinctly different buyer groups who have different needs or use the product in different ways.
B) most other rival firms are using a best-cost producer strategy.
C) buyers have strong bargaining power and entry barriers are low.
D) most industry rivals have weakly differentiated products.
E) most industry participants are also using a focused differentiation strategy.
Q2) The essence of a broad differentiation strategy is to
A) appeal to the high-end part of the market and concentrate on providing a top-of-the-line product to consumers.
B) incorporate a greater number of differentiating features into its product/service than rivals.
C) lower buyer switching costs.
D) outspend rivals on advertising and promotion in order to inform and convince buyers of the value of its differentiating attributes.
E) offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for.
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Chapter 6: Supplementing the Chosen Competitive
Strategy: Other Important Business Strategy Choices
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Relying on outsiders to perform certain value chain activities offers such strategic advantages as
A) ensuring more costly components or services.
B) improving the company's inability to innovate by allying with "best-in-class" suppliers.
C) reducing the company's risk exposure to changing technology and/or changing buyer preferences.
D) increasing the firm's inability to assemble diverse kinds of expertise speedily and efficiently.
E) reducing its information technology and operational costs so that organizational flexibility is maintained.
Q2) Identify and briefly explain what is meant by each of the following terms: a. horizontal scope
b. vertical scope
c. scope of the firm
Q3) Under what circumstances are mergers with or acquisitions of other companies a better solution than entering into partnerships or alliances with these companies? How do mergers and/or acquisitions contribute to enhancing a company's position?
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Page 8
Chapter 7: Strategies for Competing in Foreign Markets
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Identify and briefly discuss the key reasons why a company may consider expanding outside its domestic market.
Q2) During the 1980s, the YKK Group developed and manufactured all its fastening products within Japan. Which of the following aspects of the global strategy was YKK trying to achieve?
A) YKK catered to homogenous buyer needs across countries and regions.
B) YKK centralized its value chain thereby facilitating centralized control.
C) YKK engaged in higher levels of R&D by spreading risks over higher-volume output.
D) YKK sold the same products under the same brand name everywhere.
E) YKK established a single plant to produce different versions of the same product.
Q3) Compare and contrast the advantages for entering and competing in foreign markets for the strategic options of exporting, licensing, and franchising.
Q4) How does a transnational strategy differ from a multidomestic or a global strategy?
Q5) Discuss in some detail the difference between a multidomestic strategy and a global strategy. Give the pros and cons of each.
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Page 9
Chapter 8: Diversification: Strategies for Managing a Group of Businesses
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Under what circumstances might a diversified firm choose to divest one or more of its businesses?
Q2) The nine-cell attractiveness-strength matrix provides clear, strong logic for considering using
A) only industry attractiveness in allocating resources and investment capital to its different businesses.
B) only business strength in allocating resources and investment capital to the different businesses.
C) both industry attractiveness and business strength in allocating resources and investment capital to its different businesses.
D) both industry attractiveness and product strength in allocating resources and investment capital to its different businesses.
E) both resource fit and product strength in allocating resources and investment capital to its different businesses.
Q3) Carefully explain the difference between and the rationale for selecting a strategy of related diversification and/or a strategy of unrelated diversification.
Q4) Explain the difference between a cash cow business and a cash hog business.
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Chapter 9: Ethical Business Strategies, Social Responsibility, and
Environmental Sustainabil ITY
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) Multinational companies that forbid the payment of bribes and kickbacks in their codes of ethical conduct and that are serious about enforcing this prohibition
A) are generally advocates of the ethical relativism school of thought.
B) are misguided in their efforts because bribes and kickbacks are really no different from tipping for service at restaurants as you pay for a service rendered.
C) face a particularly vexing problem of losing business to competitors that have no scruples-an outcome that penalizes ethical companies and company personnel.
D) are out-of-step with business reality given that the preponderance of company managers are immoral.
E) are in a distinct minority compared to companies that view the payment of bribes and kickbacks as a legitimate or permissible practice.
Q2) What is the essence of the moral case for why a company should engage in socially responsible actions and environmentally sustainable business practices?
Q3) What is the case for why business strategies should be ethical?
Q4) What is the difference between ethics and business ethics?
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11
Chapter 10: Building an Organization Capable of Good Strategy Execution
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) Which one of the following is NOT a means of building and strengthening competitively valuable resources and capabilities?
A) engaging in experience-building activities such as collaborative efforts in R&D engineering and design
B) shifting from decentralized to centralized decision-making so as to give senior executives more authority and control in driving cultural change
C) acquiring capabilities through mergers and acquisitions
D) entering into collaborative partnerships with suppliers, competitors, or other companies that possess needed expertise
E) selecting people with the requisite skills and experience, upgrading or expanding individual abilities as needed, and then molding the efforts of individuals into a collaborative effort to create an organizational ability
Q2) In choosing between a centralized and a decentralized organizational structure, which of the two is more likely to further the cause of good strategy execution? Why?
Q3) Identify four tactics that are common among companies dedicated to staffing jobs with the best people they can find.
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12
Chapter 11: Managing Internal Operations: Actions That Promote
Good Strategy Execution
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) Discuss the importance of and provide at least three examples of the strategic benefits of real-time information systems.
Q2) Total quality management (TQM)
A) entails creating a total quality culture that strives for continuously improving the performance of every value chain activity and is driven by a philosophy of managing a set of business practices: 100 percent accuracy in performing tasks (zero defects), involvement and empowerment of employees at all levels, team-based work design, benchmarking, and total customer satisfaction.
B) is a valuable tool for helping company managers identify what the best practice is for performing a particular activity at a high level of quality.
C) works best when used in conjunction with Six Sigma quality control techniques.
D) is an excellent tool for reengineering business processes and making quantum gains in the efficiency and effectiveness with which the processes are performed.
E) is a philosophy of doing things that aims at mistake-free management of a company's entire business.
Q3) What is the potential long-term payoff of total quality management (TQM)?
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Chapter 12: Corporate Culture and Leadership: Keys to Good Strategy Execution
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) The task of top executives in making corrective adjustments includes
A) knowing when to continue with the present corporate culture and when to shift to a different and better corporate culture.
B) being good at figuring out whether to arrive at decisions quickly or slowly in choosing among the various alternative adjustments.
C) thoroughly analyzing the situation and exercising good business judgment in deciding what actions to take.
D) deciding whether to try to fix the problems of poor strategy execution or simply shift to a strategy that is easier to execute correctly.
E) deciding how to identify the problems that need fixing.
Q2) Identify and discuss the three ways that a corporate culture, grounded in actions, behaviors, and work practices and conducive to good strategy implementation can assist corporate strategy execution.
Q3) What is meant by the term corporate culture? Why is corporate culture an important factor in implementing and executing strategy?
Q4) Give two examples of "symbolic" culture-changing actions and two examples of "substantive" culture-changing actions.
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