Exam 7: Entry Strategies in Global Business

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

_________ 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 _____.

The large oil exploration company,Anadarko Petroleum Corporation,takes a(n)______ toward strategy formulation,placing a very clear emphasis in strategy formulation upon how its business decisions will help deliver and ongoing and competitive rate of return to its owners.

ABC Manufacturing focuses on implementing a basic market strategy of concentrating upon existing operations and protecting their home turf.ABC can be described as a _____.

One output control measure frequently used by global businesses is productivity or ______.

________ refers to the ability of organizations to recognize,assimilate and apply new knowledge.

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.

Hershey Corporation has expanded and extended its business by developing new products and increasing global reach,but has done so in a very careful manner,avoiding undue risks and protecting its existing business operations.For this reason,it would fall into the category of an analyzer.

Altria Group,Inc.,may feel that the importance of "fiscal discipline" in its stated mission mandates that it reduce its operations and concentrate upon making its existing U.S.-based Marlboro operations as efficient and profitable as possible.In short,Altria will be most concerned with maintaining its existing strategic position.This is an example of Miles and Snows' _____ typology.

Scenario - Blackford Industries,Inc. Blackford Industries,Inc.was established in 2004 by Jeanna and Sean Blackford.The company produces a wide array of restaurant equipment and supplies for restaurant owners throughout the United States.This company has grown substantially year after year since its inception.It attributes its success to having extensive knowledge of the industry it serves.Both owners have advanced culinary degrees from prestigious colleges and feel they understand the needs of their clients thoroughly. Blackford Industries,Inc.is led by clearly defined guidelines established by its owners.The company's philosophy is one of caring for and about each customer.Blackford is known for treating each of its employees as if they were members of their family.Its business practices are honest and trustworthy.The company demonstrates its high level of integrity with each of its business dealings. Sean and Jeanna are currently considering expanding their business into the European marketplace as this market is fairly unexplored by competitors with American restaurant supplies.They see the vast potential of this market and are aware of the challenges such a decision presents to them.The decision about the company's international expansion will be made by the end of this year. -According to Professors Raymond Miles and Charles Snow,under which of their classifications would Blackford Industries,Inc.must likely fall?

While ______ are the owners of the given business,______ are individuals or groups that have a vested interest in the business.

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.

For generations there has been a norm of "highest quality in journalism" at the New York Times newspaper.In this context,the newspaper's reporters don't require close supervision to do great journalistic work.This is an example of the organizational _____ at the New York Times.

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

Organizational change in a business is almost always most effective when pushed from the bottom by the company's rank-and-file employees.

Organizations that have basic strategic implementations involving extending their success through global expansions and finding new market opportunities are called _____.

A rule that all employees in the organization (including the CEO)must fly coach when they travel on commercial airlines represents a consistent _____ control within an organization.

Companies that are _____ take a middle ground between being prospectors and defenders.

Organizational culture can be a very effective control mechanism for an organization,particularly when the norms of a given business's culture are fully accepted by that organization's workforce.