Question 1

A key success factor is a factor that is necessary for a firm to compete effectively in a(n):

Accepted Answer

A) International market 
B) Highly-restricted market 
C) Market niche 
D) Broad market domain

Question 2

An economic imperative approach to strategic planning is used when a product is regarded as a generic good and therefore does not have to be sold based on name brand.

Accepted Answer

A) True 
 B)False

Question 3

If a firm operates production plants in different countries but makes no attempt to integrate its overall operations, the company is known as a:

Accepted Answer

A) Multi-domestic 
B) Global 
C) Transnational 
D) International

Question 4

Typically, MNCs utilizing this approach to strategic planning use a country-centered or multi-domestic strategy.

Accepted Answer

A) Quality imperative 
B) Administrative coordination 
C) Political imperative 
D) Economic imperative

Question 5

National responsiveness is the need to understand different consumer tastes in segmented regional markets and respond to different national standards and regulations imposed by autonomous agencies.

Accepted Answer

A) True 
 B)False

Question 6

This strategy is appropriate when the need for national responsiveness is low and the need for globalization integration is high.

Accepted Answer

A) International 
B) Multi-domestic 
C) Global 
D) Transnational

Question 7

An example of the political imperative at work is a retail manufacturer who emphasizes flexibility, response time, small production runs, small minimum-order quantities, and the ability to shift direction as the trends move.

Accepted Answer

A) True 
 B)False

Question 8

The approach to strategic formulation and implementation utilizing strategies of TQM to meet or exceed customers' expectations and continuously improve products and/or services is referred to as the:

Accepted Answer

A) Value-added imperative 
B) Quality imperative 
C) Political imperative 
D) Economic imperative

Question 9

MNCs have found that whether they are exporting or producing the goods locally in the host country, consideration of worldwide production is important.All of the following are factors to be taken into consideration except:

Accepted Answer

A) Goods may be produced in foreign countries for export to other nations 
B) A plant will specialize in a particular product and export it to all the MNC's markets 
C) Integration of production is necessary in a global operation only if the firm produces multiple product lines 
D) A plant will produce one or more components that are shipped to a larger network of assembly plants

Question 10

This approach to formulation and implementation is one in which the MNC makes strategic decisions based on the merits of the individual situation rather than using a predetermined economic or political strategy.

Accepted Answer

A) Administrative coordination 
B) Bureaucratic coordination 
C) Value-added 
D) Functional

Question 11

Statistics reveal that foreign direct investment (FDI) has grown ten times faster than trade and twice as fast as the world gross domestic product.

Accepted Answer

A) True 
 B)False

Question 12

There is definitive evidence that strategic planning in the international arena always results in higher profitability.

Accepted Answer

A) True 
 B)False

Question 13

This analysis identifies the key factors for success that will dictate how well the firm is likely to do.

Accepted Answer

A) External 
B) Internal 
C) Competitive 
D) Market

Question 14

In choosing a location, today's MNC has two primary considerations: the country and the specific locale within the chosen country.

Accepted Answer

A) True 
 B)False

Question 15

An MNC must consider all of the following general areas in strategy implementation except:

Accepted Answer

A) Management must implement functional strategies in areas such as marketing 
B) It should consider investing only in advanced nations 
C) It must carry out entry and ownership strategies 
D) It must decide where to locate operations

Exam 8: Strategy Formulation and Implementation

A key success factor is a factor that is necessary for a firm to compete effectively in a(n) :

An economic imperative approach to strategic planning is used when a product is regarded as a generic good and therefore does not have to be sold based on name brand.

If a firm operates production plants in different countries but makes no attempt to integrate its overall operations, the company is known as a:

Typically, MNCs utilizing this approach to strategic planning use a country-centered or multi-domestic strategy.

National responsiveness is the need to understand different consumer tastes in segmented regional markets and respond to different national standards and regulations imposed by autonomous agencies.

This strategy is appropriate when the need for national responsiveness is low and the need for globalization integration is high.

An example of the political imperative at work is a retail manufacturer who emphasizes flexibility, response time, small production runs, small minimum-order quantities, and the ability to shift direction as the trends move.

The approach to strategic formulation and implementation utilizing strategies of TQM to meet or exceed customers' expectations and continuously improve products and/or services is referred to as the:

MNCs have found that whether they are exporting or producing the goods locally in the host country, consideration of worldwide production is important.All of the following are factors to be taken into consideration except:

This approach to formulation and implementation is one in which the MNC makes strategic decisions based on the merits of the individual situation rather than using a predetermined economic or political strategy.

Statistics reveal that foreign direct investment (FDI) has grown ten times faster than trade and twice as fast as the world gross domestic product.

There is definitive evidence that strategic planning in the international arena always results in higher profitability.

This analysis identifies the key factors for success that will dictate how well the firm is likely to do.

In choosing a location, today's MNC has two primary considerations: the country and the specific locale within the chosen country.

An MNC must consider all of the following general areas in strategy implementation except: