Kraft International Describes the Company's Strategy as "To Win Locally

question 66

Multiple Choice

Kraft International describes the company's strategy as "to win locally and leverage globally." A Dow Chemical executive explained his company's approach,"You simply cannot develop or initiate a market penetration strategy,in an emerging country from a location thousands of miles away in which no one has seen and still be successful…period.You need to think and act globally but implement locally." Kraft and Dow are using the ________ approach.

• A)glocal
• B)millennial
• C)transformational
• D)black hole
• E)best practices

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Definitions:

Exchange Rate

The price of one currency in terms of another currency for conversion.

Currency

A system of money in general use in a particular country or region, serving as a medium of exchange, unit of account, and store of value.

Arbitrageur

Someone who takes advantage of tiny differences in the exchange rate across markets by simultaneously purchasing a currency in one market and selling it in another market.

Foreign Exchange

Trading one currency for another or transforming one currency into a different currency.