Question 1

Despite the sometimes problematic nature of the keiretsu, change comes slowly in Japan.

Accepted Answer

It is commonly recognized that change comes slowly in Japan, particularly in regards to traditional business practices such as the keiretsu system. While there have been some moves towards reform in recent years, the overall pace of change remains relatively slow.

Question 2

Companies are faced with the decision whether to expand by seeking new markets in existing countries or seeking new country markets for already identified and served market segments. Faced with these situations, what are the strategies that can be followed?

Accepted Answer

The answer of Companies are faced with the decision whether...

Question 3

The South Korean government has recently abandoned the "chaebol" industry structure in favor of the "keiretsu" structure.

Accepted Answer

This statement is false. South Korea has not abandoned the "chaebol" structure, which refers to large, family-owned conglomerates that dominate the country's economy. The "keiretsu" structure is a term used to describe a similar system in Japan.

Question 4

Saab markets two luxury car models, both prized by drivers for their "quirkiness." About 30 percent of Saab's sales come from the United States, with most of the rest from Western Europe. Which strategy does Saab appear to be using?

Accepted Answer

Saab focuses primarily on a specific market segment (luxury car buyers who appreciate "quirkiness") while concentrating its sales efforts in a limited number of geographic areas (mainly the United States and Western Europe), which aligns with the country concentration/market segment concentration strategy.

Question 5

Japanese keiretsu is considered to be a strong cooperative strategy that will have an impact in global marketing. Describe what it is and how it can affect U.S. businesses.

Accepted Answer

The answer of Japanese keiretsu is considered to be a...

Question 6

Prior to the economic crisis of 1997-1998, South Korea's "chaebol" had become bloated and heavily in debt.

Accepted Answer

The chaebol, South Korea's large conglomerates, had grown highly indebted and unwieldy prior to the economic crisis of 1997-1998.

Question 7

Another perspective on the future of cooperative strategies envisions the emergence of:

Accepted Answer

The emergence of virtual corporations (where companies collaborate and share resources digitally without merging or acquiring each other) is a growing trend in the business world. As technology continues to advance and connecting with others around the world becomes easier, virtual corporations provide a flexible and innovative way for companies to work together towards a common goal. This is particularly relevant in the current global pandemic, where remote work is increasingly common and necessary.

Question 8

Which of the following is not true of Japanese keiretsu?

Accepted Answer

Japanese keiretsu do not necessarily ensure low prices for Japanese consumers. In fact, they may create a lack of competition and higher prices for consumers. The other options are all true of Japanese keiretsu.

Question 9

Japanese keiretsu executives can legally sit on each other's boards, share information, and coordinate prices in closed-door meetings of "presidents' councils."

Accepted Answer

This is true. Keiretsu is a type of business group in Japan where companies become interconnected through cross-shareholding, joint ventures, and other means. Executives from different companies within a keiretsu can sit on each other's boards, share information, and coordinate prices in meetings of "presidents' councils." This is allowed under Japanese law.

Question 10

Although Jaguar's identity is closely tied to its British heritage, the first-generation I-Pace is being assembled in a factory in Austria owned by Canadian carmaker Magna.

Accepted Answer

The first-generation I-Pace is indeed being assembled in a factory in Austria owned by Canadian carmaker Magna, despite Jaguar's British heritage.

Question 11

Giving an example, show what are the possible reasons to assume that joint ventures in the transition economies of Central and Eastern Europe could evolve at a more accelerated pace than past ventures?

Accepted Answer

The answer of Giving an example, show what are the...

Question 12

Recently, questions about corporate governance have arisen after some chaebol leaders were accused of various offenses including colluding with politicians and corruption.

Accepted Answer

Some chaebol leaders in South Korea have been accused of various offenses related to corporate governance, leading to questions about the effectiveness of the country's corporate governance system.

Question 13

Which of the following is true about Japanese keiretsu?

Accepted Answer

Toyota is associated with a vertical keiretsu, which is a group of companies with interlocking business relationships and shareholdings centered around a core company, typically in manufacturing. Mitsubishi, on the other hand, is a classic example of a horizontal keiretsu, which is a network of corporations with cross-shareholdings, often spanning a variety of industries.

Question 14

The virtual corporation will seem to be a single entity with vast capabilities but will really be the result of numerous collaborations assembled only when needed.

Accepted Answer

The statement accurately describes the concept of a virtual corporation where different entities come together for a specific project or goal, giving the impression of a singular entity with diverse capabilities.

Question 15

In a country and market concentration strategy, a company serves many markets in a few countries.

Accepted Answer

In a country and market concentration strategy, a company focuses on serving a few markets within a limited number of countries, concentrating its resources and efforts on a specific geographic area.

Quiz 9: Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances