Question 1

Scenario analysis can help managers to break away from their existing view of the world and envision alternatives that might lie outside their traditional frame of reference.

Accepted Answer

Scenario analysis is a tool that helps managers to consider different possible future outcomes and develop strategic plans accordingly. By exploring scenarios that may be different from their current view of the world, managers can gain new insights and consider alternative strategies.

Question 2

Scenarios are a particularly useful approach for international companies that face high levels of change and uncertainty,because they allow management to anticipate and prepare for opportunities and threats by predicting and controlling for these developments.

Accepted Answer

The answer of Scenarios are a particularly useful approach for...

Question 3

The planning process that begins at the highest level in the organization and continues downward is top-down planning.

Accepted Answer

Top-down planning is a planning process that begins at the highest level of the organization and continues downward. The goals and objectives of the organization are set by the top management and then specific plans are developed to achieve those goals and objectives.

Question 4

Sales forecasts are both a control and planning technique.

Accepted Answer

Sales forecasts can help to control inventory levels, production schedules, and staffing needs. They also assist in planning for future growth and setting sales targets.

Question 5

Policies are broad guidelines issued by upper management for the purpose of assisting lower-level managers in handling recurring problems.

Accepted Answer

Policies are indeed broad guidelines issued by upper management to help lower-level managers make consistent and informed decisions when they encounter recurring problems.

Question 6

Scenarios are multiple,plausible stories for probable futures.

Accepted Answer

Scenarios are indeed multiple, plausible stories for probable futures. They offer a way to explore various possible outcomes based on different factors and assumptions.

Question 7

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

Accepted Answer

The answer of Two prominent features of the strategic plan...

Question 8

Procedures are broad guidelines issued by upper management for the purpose of assisting lower-level managers in handling non-recurring problems.

Accepted Answer

Procedures are actually detailed step-by-step instructions for how to carry out recurring tasks or operations, while policies provide broad guidelines for decision-making and behavior in different situations.

Question 9

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

Accepted Answer

The answer of Because of the rapidity of changes in...

Question 10

A benefit of global strategies is their ability to adjust quickly and effectively to changes in customer needs across national or regional markets.

Accepted Answer

Global strategies often involve standardized products and services, which can make it difficult to quickly adjust to specific changes in customer needs across different national or regional markets.

Question 11

Historically,more aspects of marketing have been standardized and coordinated worldwide by companies than has been the case for other value chain activities such as research and development and manufacturing.

Accepted Answer

The answer of Historically,more aspects of marketing have been standardized...

Question 12

Objectives must be quantified in order to be useful.

Accepted Answer

The answer of Objectives must be quantified in order to...

Question 13

A multidomestic strategy tends to be used when a company simultaneously confronts pressures for cost effectiveness and local adaptation.

Accepted Answer

A multidomestic strategy focuses on adapting products and strategies to fit the specific needs of each country, prioritizing local adaptation over cost effectiveness.

Question 14

Companies pursuing a home replication strategy typically centralize product development functions in their home country and then transfer innovations to foreign markets in order to capture additional value.

Accepted Answer

A home replication strategy involves keeping product development functions centralized in the home country in order to maintain control over the innovation process. This allows the company to transfer innovations to foreign markets, often through licensing or franchising agreements, in order to capture additional value.

Question 15

measures of the effectiveness of the company's personnel,within and across the firm's international network of operations,in performing their assigned jobs.

Accepted Answer

The statement is incomplete and lacks a clear context or question to determine its truthfulness. It seems to describe a concept related to human resource management or performance evaluation, but without a specific claim or question, it cannot be assessed as true or false.

Question 16

With a multidomestic strategy,the cost and complexity of coordinating a range of different strategies and product offerings across national and regional markets can be substantial.

Accepted Answer

With a multidomestic strategy, each market is treated as a separate entity with its own unique set of products and strategies. This requires significant coordination across markets, which can be costly and complex.

Question 17

Contingency plans are developed in some firms for the best and worst case scenarios and for critical events.

Accepted Answer

Contingency plans are indeed developed in some firms for various situations, such as best and worst case scenarios and critical events, in order to ensure preparedness and minimize negative impacts.

Question 18

Tactical/operational plans are more detailed than strategic plans.

Accepted Answer

Tactical/operational plans are developed at a lower level of an organization and focus on specific actions and tasks required to implement the broader strategic plans. Therefore, they tend to be more detailed and specific than strategic plans which are developed at a higher-level and focus on the overall direction and goals of an organization.

Question 19

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.

Accepted Answer

This statement is true. Companies must balance the need to reduce costs with the need to adapt to local markets in order to succeed in international competition.

Question 20

A global strategy tends to be used when a company faces strong pressures for reducing costs and limited pressure to adapt products for local markets.

Accepted Answer

A global strategy typically involves standardizing products and processes across multiple markets to achieve economies of scale and reduce costs, while minimizing the need for localization. It is often used by companies operating in industries with high competition and low differentiation, where cost leadership is crucial.

Quiz 10: International Competitive Strategy