The Transnational Approach of a Firm Using a "Think-Global, Act-Local

question 43

Multiple Choice

The transnational approach of a firm using a "think-global, act-local" version of a global strategy entails

• A)selling numerous product versions (each customized to buyer tastes in one or more countries and sometimes branded for each country)but opting to only sell direct to buyers at the company's website so as to bypass the costs of establishing networks of wholesale/retail dealers in each country market.
• B)pursuing the same basic competitive strategy theme (low-cost, differentiation, best-cost, focused)in all countries where the firm does business but giving local managers some latitude to adjust product attributes to better satisfy local buyers and to adjust production, distribution, and marketing to be responsive to local market conditions.
• C)selling the company's products under a wide variety of brand names (often one brand for each country or group of neighboring countries)so that buyers in each country market will think they are buying a locally made brand.
• D)producing and marketing a variety of product versions under the same brand name, with each different version being designed specifically to accommodate the needs and preferences of buyers in a particular country.
• E)little or no strategy coordination across countries.

Grasp Michael Porter's generic strategies and their application in seeking competitive advantage.

Understand the dynamics of the strategic planning process and common pitfalls.

Differentiate between strategies focused on cost leadership and differentiation as competitive advantages.

Recognize the conceptual foundations of co-opetition and its strategic value.

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Definitions:

Evangelical Denominations

Groups within Christianity characterized by a strong emphasis on the authority of the Bible, the significance of Jesus' death and resurrection, and the imperative of evangelism and conversion.

African Religious Beliefs

Encompass a wide range of traditional religious practices and beliefs in Africa, which include worship of ancestors, spirit worship, and the belief in a supreme being or beings, varying greatly across different cultures and regions.

Suffrage

The right to vote in public, political elections.

Disenfranchised

Refers to individuals who have been deprived of the right to vote or other rights of citizenship, often as a result of discriminatory laws or practices.