The Essential Difference Between a "Think-Global, Act-Global" and a "Think-Global

question 85

Multiple Choice

The essential difference between a "think-global, act-global" and a "think-global, act-local" approach to strategy-making is that

• A)a "think-global, act-global" approach entails extensive strategy coordination across countries and a "think-global, act-local" approach entails little or no strategy coordination across countries.
• B)the former aims at implementing the same business model worldwide, whereas the latter aims at implementing customized business models to better match local market circumstances.
• C)the "think-global, act-global" approach gives local managers more latitude to make minor strategy variations where necessary to better satisfy local buyers and to better match local market conditions.
• D)a "think-global, act-global" approach involves selling a mostly standardized product worldwide, whereas a "think-global, act-global" approach entails selling products that are highly differentiated from country to country.
• E)a "think-global, act-global" approach involves selling under a single brand name worldwide, whereas a "think-global, act-local" approach entails utilizing multiple brands (typically one for each different country or group of neighboring countries).

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Definitions:

Contingency Thinking

An approach that emphasizes the need to tailor decisions and actions to the specifics of a situation rather than relying on one-size-fits-all solutions.

Management Styles

The various approaches and methods employed by leaders in guiding, directing, and motivating employees to achieve organizational objectives.

Knowledge Management

The efficient handling, organizing, and sharing of information and knowledge within an organization.

Classical Management

A theory of management focused on the efficiency of the work process through division of labor, hierarchy, and strict control mechanisms.