Chap 11

What is the primary goal of a firm's strategy according to the text?

• To expand product offerings

• To increase market share

• To maximize owner & shareholder value

• To minimize production costs

How is value creation (profit) calculated according to the text?

• Customer Value - Production Cost

• Production Cost + Customer Value

• Supply Chain Cost - Customer Value

• Customer Value / Production Cost

How is Supply Chain Surplus (profit) calculated?

• Supply Chain Cost + Customer Value

• Customer Value - Supply Chain Cost

• Customer Value + Supply Chain Cost

• Supply Chain Cost - Customer Value

What is the preeminent challenge firms face in terms of strategy?

• Reduce Costs

• Profit Growth

• Enter New Markets

• Acting in a legal, ethical, and socially responsible manner

What is the primary focus of strategic fit within a firm's value chain?

• Enhancing employee satisfaction through better human resources management

• Aligning all processes and resources to effectively execute the desired strategy

• Increasing production capacity to meet market demand

• Developing innovative marketing campaigns to attract new customers

Which of the following is NOT considered a primary activity in a firm's value chain?

• Marketing

• Research and Development (R&D)

• Company Infrastructure

• Customer Service

Which strategy is most appropriate for companies facing high pressures for cost reductions and low pressures for local responsiveness?

• • Localization Strategy

• • International Strategy

• • Transnational Strategy

• • Global Standardization Strategy

Which strategy is most appropriate for companies facing high pressures for cost reductions and high pressures for local responsiveness?

• • Localization Strategy

• • International Strategy

• • Transnational Strategy

• • Global Standardization Strategy

Which strategy is most appropriate for companies facing low pressures for cost reductions and high pressures for local responsiveness?

• • Localization Strategy

• • International Strategy

• • Transnational Strategy

• • Global Standardization Strategy

Which strategy is most appropriate for companies facing low pressures for cost reductions and low pressures for local responsiveness?

• • Localization Strategy

• • International Strategy

• • Transnational Strategy

• • Global Standardization Strategy