IBUS2101 in-semester test studying quiz

Diligent and realistic assessment of market dynamics, striking a positive working relationship with their local partner, and localization of their management team.

More choices, lower prices, homogenisation of cultures, and diverse career choice and progression.

For: Developing countries exceed global average in trade growth + some emerging high too; Against: Allegedly at cost of poorer countries, high amongst G7 except low for some like Japan.

<p>Currency, inflation, interest rates, accounting practices, cultures, social customs, laws, political stability</p> Signup and view all the answers

<p>Market motives (offensive and defensive), strategic motives, and economic motives</p> Signup and view all the answers

<p>Misfit with external environment and the desire to capitalize on comparative advantages, be a first mover, integrate vertically, or follow major customers abroad</p> Signup and view all the answers

<p>Acquiring and leveraging competitive advantage, rivalry amongst competitors, threat of new entrants, bargaining power of suppliers, and bargaining power of buyers</p> Signup and view all the answers

<p>The three generic strategies discussed in the text are cost leadership, differentiation, and focus strategy.</p> Signup and view all the answers

<p>The advantages of the cost leadership strategy are minimizing threats from the five forces. The drawbacks include the danger of being outcompeted on costs and continuously reducing costs.</p> Signup and view all the answers

<p>The advantages of the differentiation strategy include delivering products that are perceived to be valuable and unique, targeting smaller customer segments willing to pay premium prices. The drawbacks include difficulty in sustaining differentiation over the long run, potential decline in brand loyalty, and relentless efforts of competitors to imitate.</p> Signup and view all the answers

<p>The key lesson is to choose one strategic dimension (cost or differentiation) and execute consistently, avoiding getting 'stuck in the middle'.</p> Signup and view all the answers

<p>The industry competition-based view provides a systematic foundation for industry analysis and a set of answers to the four fundamental questions in strategy. It also emphasizes the importance of industry-specific conditions in determining firm performance.</p> Signup and view all the answers

<p>Firms like IBM can consistently do well for 100 years by having resources and capabilities that are specific to their success and not shared by their unsuccessful competitors.</p> Signup and view all the answers

<p>The resource-based view focuses on how individual firms differ from each other within an industry based on their unique combination of resources and capabilities. It suggests that firms can outperform the industry average consistently and significantly.</p> Signup and view all the answers

<p>The four components of competitive advantage according to the VRIO framework are value, rarity, imitability, and organization.</p> Signup and view all the answers