The transnational approach of a firm using a "think-global, act-local" version of a global strategy entails
A)selling numerous product versions (each customized to buyer tastes in one or more countries and sometimes branded for each country)but opting to only sell direct to buyers at the company's website so as to bypass the costs of establishing networks of wholesale/retail dealers in each country market.
B)pursuing the same basic competitive strategy theme (low-cost, differentiation, best-cost, focused)in all countries where the firm does business but giving local managers some latitude to adjust product attributes to better satisfy local buyers and to adjust production, distribution, and marketing to be responsive to local market conditions.
C)selling the company's products under a wide variety of brand names (often one brand for each country or group of neighboring countries)so that buyers in each country market will think they are buying a locally made brand.
D)producing and marketing a variety of product versions under the same brand name, with each different version being designed specifically to accommodate the needs and preferences of buyers in a particular country.
E)little or no strategy coordination across countries.

Question

Quizplus · Accepted Answer

The "think-global, act-local" approach involves pursuing a similar competitive strategy in all countries, but allowing for local managers to make necessary adjustments to product attributes, production, distribution, and marketing to better cater to local market conditions. This approach balances the coordination of a global strategy with the responsiveness needed to compete locally. The other choices do not fully reflect this approach, as they involve either customized products for each country (A and D), numerous brand names (C), or no strategy coordination (E).

The Transnational Approach of a Firm Using a "Think-Global, Act-Local