Exam 7: Entry Strategies in Global Business

Scenario - Keegan Enterprises Keegan Enterprises is owned by Stanley Keegan of Wichita,Kansas.Stanley started Keegan Enterprises in 1990 and has watched his company grow to become the second largest producer of van trailers in the world.Keegan Enterprises earned $60 million in profit last year and currently has over 17,000 workers around the globe. In order to achieve its stated mission and goals,Keegan Enterprises has implemented several changes to its business strategy over the past few years.While accomplishing the necessary changes has not been easy or without challenge,Keegan Enterprises appears to be stronger and more unified today than ever before.Stanley Keegan is looking forward to facing future challenges and watching the forward growth of his business.He would like to see his company in the number one spot as the world's largest producer of van trailers in the world. -Keegan Enterprises acknowledges it has undertaken changes within the company's strategy.This organizational change can involve the implementation of a different business or cultural path for the organization.Which one of the following is least likely to be true regarding Keegan's organizational change?

Goals relating to profits,growth,productivity,and market share are all types of ______ controls.

The president of a small company makes a point to touch base with every employee each day; this is an example of an interpersonal control.

The plan for ABC International to build and open a textile manufacturing plant in China within the next two-and-one-half years would be an example of an operational plan.

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 _____.

An operational plan is

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

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

The _______ model of strategy formulation operates from the premise that the key strategic purpose of a business is to maximize financial returns for its owners.

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

When R&D discoveries in the United States operations of Anadarko Petroleum Corporation can easily be communicated to and accepted by its operations in Ghana,it is an example of Anadarko's absorptive capacity.

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. -Blackford Industries,Inc.realizes that each decision it makes affects may stakeholders of the company.Of the following,which one is least likely to be considered a stakeholder of the company?

Knowledge that is informal in nature and difficult to communicate is known as _____ knowledge.

Target Corporation is often accused of being a defender in terms of its market strategies and strategic implementation.

Systems of rules and regulations promulgated within a global business are called ______ controls.

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

For global companies that take more of a "shareholder" approach to strategy formation,corporate social responsibility (CSR)ir probably the most important output control of all.

In a(n)_______,a global business explains why it exists and what it plans to accomplish.

If Dunkin Donuts (DD)were to follow the actions of Starbucks and copy all of their strategies and pricing,DD could be described as a(n)_____.

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.