When Industry Strategies Call for Much Integration of Worldwide Activities

question 35

Multiple Choice

When industry strategies call for much integration of worldwide activities and definite needs to be locally responsive, firms would select a(n) :

• A) Multinational strategy
• B) Globally integrated strategy
• C) Global-local strategy
• D) International strategy

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Definitions:

Framing Effects

Cognitive biases where people's decisions are influenced by the way information is presented, rather than just the information itself.

Anchoring

Anchoring is a psychological phenomenon wherein an individual relies too heavily on an initial piece of information, or 'anchor,' to make subsequent decisions.

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, which help in making decisions, forming judgments, or solving problems.

Error-Free Decisions

Decisions made without mistakes, achieved through careful analysis, planning, and consideration of all relevant information.