Chapter 11 - organization. The mission statement should...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Self-Graded Questions for Chapter 11: Define these terms and give examples where possible: 1. International Strategy - Trying to create value by transferring core competencies to foreign markets where indigenous competitors lack those competencies 2. Multinational Strategy – Firms use their entire VACs in the countries where they do business 3. Global Strategy – Firms have one big VAC which they feed with the benefits of comparative advantage 4. Transnational Strategy – blend of both global and multinational strategies 05. Financial Performance Objectives – aims to improve the firm’s financial performance 6. Strategic Performance Objectives – aims to improve the firm’s strategic performance in areas such as market share, quality, technological advances, cost etc. 7. Direction Setting Mission Statements – a short written statement of the purpose of a company or
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a sense of direction, and guide decision-making. 8. Experience Curve Effects the decrease in unit cost as volume of production rises. This happens as firms become more efficient 9. Strategy and Environmental Fit strategies must fit the environment in which it is putting into play. If these things dont fit a firm cannot be competitive 10. How does the standardization of production and convergence of markets fit with a globalization strategy? When markets converge on the same needs they rationalize their VACs thus spreading fixed cost over many standardized units of production....
View Full Document

Ask a homework question - tutors are online