Exam 9: Control of Global Business

Las Vegas hotelier MGM Mirage recently spent $8.5 billion on a new resort that adds almost 5,000 new rooms to a market that some argue is already saturated. Which of the following output controls and measurement is MGM Mirage using?

A lamp manufacturing company has a written, ten-step process that describes how to put together its best-selling table lamp. This is an example of _____.

The stakeholder model of strategy formulation believes businesses exist to benefit not just their shareholders, but also all the various groups that have a meaningful stake in their operations. Such groups, for example, might include a company's employees, customers, and the community where it operates.

Differentiate between explicit and tacit knowledge. Explain the role these play in the coordination of strategy implementation for global businesses.

A key output metric for some global businesses is market share, or the percentage of the business in a certain market that is captured by a product or service the organization provides.

Hershey Corporation has assiduously expanded and extended its business by developing new products and increasing global reach, but it has done so in a very careful manner, avoiding undue risks and protecting its existing business operations. This is an example of Miles and Snows' _____ typology.

Organizational_____ involves implementation of a different business or cultural path for an organization.

Differentiate between the shareholder and stakeholder model of strategy formulation.

_______ are one to three year plans formulated for implementing strategic goals.

A financial budget is a perfect example of an output control.

_________ are organizations that have a strategic implementation involving responding to strategic actions initiated by competitors.

A(n)_____ plan for Best Buy  might be to build and open 50 new stores in the United States and Canada within the next two-and-one-half years.

Describe how global companies can utilize the various types of control systems.

Former General Electric CEO Jack Welch was well known for regularly meeting one-on-one with all senior managers and business unit heads. Welch was practicing _____ control.

CEOs who rise internally within the company, but who have followed a nontraditional path to the executive suite, (e.g.,, Nancy McKinstry, the CEO of Dutch publishing company Wolters Kluwer NV)are referred to as "outside-insiders."

Knowledge that is codifiable and easy to communicate or write down is called _____ knowledge.

Corporate ______ responsibility is an important output control for many companies intent on "giving back" to their communities.

_________ involves implementation of a different business or cultural path for an organization.

"In everything we do, we're driven by a common mission: saving people money so they can live better." This is an example of Wal-Mart's _____.

A company following a shareholder model of strategy formulation would be MOST focused on its ______.