Global Strategy Management

A An ideal mission statement is sufficiently descriptive when:

• 1. Identifies the firm’s products/services

• 1. Identifies the markets it is trying to serve

• 1. Specifies the buyer requirements it pursues to satisfy

• 1.  Provides the firm’s own identity

The three strategic approaches to competitive advantage are

• differentiation

• cost leadership

• response

• Budget

Core competencies are those strengths in a firm that include:

• 1. specialized skills.

• 1. unique production methods.

• 1. proprietary information/knowledge.

• 1. competence skills

Outsourcing can improve a firm’s effectiveness when:

• 2. It creates potential future competition

• 2. It allows concentration on core activities

• An operation can be performed better and/or

  cheaply by an outsider

• 2. All of the above

Companies that move material, people, or ideas across national boundaries, exploit economies of scale and learning as well as pressure for responsiveness pursue:

• 1. An international strategy

• 1. A transnational strategy

• 1. A global strategy

• 1. A multidomestic strategy