Exam 7: Entry Strategies in Global Business

To make sure it has enough employees on hand during the busy holiday season,Target plans to hire thousands of temporary,seasonal help for the final three months of the calendar year.This is an example of a(n)_____ plan.

In meeting its strategic goals,Keegan Enterprises plans to buy trailer hitches manufactured in Croatia over the next six months.This business idea is best identified as which one of the following?

Starbucks Corporation takes more of a _____ approach toward strategy formulation.

Anadarko Petroleum Corporation may decide that the best long-term way to implement its strategic goal of providing financial returns to its shareholders could be to explore for oil in other parts of the world where it has not yet explored,such as Africa.This is an example of Miles and Snows' _____ typology.

Determining whether to adopt a shareholder or stakeholder orientation is a major ______ for a business.

A top salesperson "just knows how to sell" but has a difficult time communicating how she does it.Her ability to sell is an example of _____.

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."

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. -One of the remarkable actions of Blackford Industries,Inc.is the treatment of its employees like family.Additionally,the fair and honest way this company conducts its business transactions and the way it respects and treats its customers is most likely a reflection of which one of the following?

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

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. -If Keegan Enterprises was characterized as an analyzer by Miles and Snow,which one of the following would not be true of this company?

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.

Organizations that have a basic strategic implementation involveing extending their success through global expansion,and finding new market opportunities are referred to as _______.

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.

An organizational initiative that aims to limit defects or problems to 3.4 per million is a(n)

Walmart deciding to buy more apparel products from lower-priced Chinese manufacturers (rather than from somewhat more expensive apparel manufacturers in the United States)during the next six months is an example of an operational plan.

_____controls involve establishing specific goals given metrics and then measuring to what extent these goals are being achieved at certain time intervals.

Smithfield Foods Company,the world's largest pork producer,has set the clear organizational goal of getting 10 cents profit for each pound of its processed pork products that is sold.This is an example of an output control and measurement.

Tacit knowledge is easier to communicate than explicit knowledge.

In the banking industry,a particular bank's efficiency ratio is a closely monitored metric.If one bank can achieve a profit of $2 million per year with 90 employees,and another bank needs to employ 200 employees to achieve the same level of profits,the first bank's employees are more efficient than the second.Which of the following output controls and measurement is the banking industry using?

Of the following,which is NOT true about knowledge management and systems?