9 Questions
What is the primary focus of a global strategy?
Balancing cost reduction and local responsiveness
How can firms benefit from expanding globally?
By accessing new markets and resources
Which factor influences strategic choice in the global marketplace?
Pressure to balance cost reductions and local responsiveness
What are the key factors that influence strategic choice in the global marketplace?
Cost reductions and local responsiveness
How can firms benefit from expanding globally?
By reducing the cost of production
What is a key challenge that firms face when competing in the global marketplace?
Balancing cost reductions with local responsiveness
How do pressures for cost reductions and local responsiveness influence strategic choice?
Pressures for cost reductions lead to a focus on standardization, while pressures for local responsiveness lead to a focus on adaptation.
What are the different global strategies for competing in the global marketplace?
Global standardization strategy, localization strategy, transnational strategy
How do global strategies for competing in the global marketplace differ from each other?
They differ based on the degree of local responsiveness required in each strategy.
Test your knowledge of global strategy in international business with this multiple-choice quiz. Explore the concept of global strategy, the benefits of global expansion, and the influence of cost reductions and local responsiveness on strategic choices.
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