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Exam 9: International Competitive Strategy

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Question 51

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Tactical/operational plans are more detailed than strategic plans.

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Question 52

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Managers of international companies that are attempting to develop a competitive advantage face a formidable challenge because:

A) all of B, C, and
B) resources are always scarce.
C) there are many alternative ways to use the company's scarce resources.
D) As stated directly in the text.
E) two of B, C, and D.

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Question 53

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Because of the rapidity of changes in uncontrollable variables, many managers have turned to contingency plans, which are multiple, plausible stories for probable futures.

Procedures:

A strategic plan:

Plans for the best-or worst-case scenarios or for critical events that could have a severe impact on the firm are known as:

When developing and assessing strategic alternatives, it is important to remember that companies competing in international markets confront two opposing forces: reduction of costs and adaptation to local markets.

To create a sustainable competitive advantage, an international company should try to develop competencies that are valuable, rare, difficult to imitate, and readily substitutable.

Value chain analysis is an assessment conducted on the chain of interlinked activities of an organization or set of interconnected organizations, intended to determine where and to what extent value is added to the final product or service.

International firms have found it necessary to institute formal global planning:

Scenarios:

Two prominent features of the strategic plan are sales forecasts and the mission statement.

Global strategic plans help to ensure that decision makers have a common understanding of the business and think through the impact of their decisions and actions firmwide.

A broad statement that defines the organization's scope is the mission statement.

To set corporate objectives, management must first:

A broad statement that defines the organization's purpose and scope is known as a:

Top management of companies generally accepts the fact that, to be effective, strategic planning processes should permit ideas to surface from anywhere in the organization and at any time.

What is international strategy and why is it important?

Repetition of the bottom-up or top-down planning process until all differences are reconciled is sequential planning.

Value chain linkages must be examined not merely across activities within the company but also in terms of managing relationships with external entities such as suppliers, alliance partners, distributors, or customers within and across nations.