The Transnational Approach of a Firm Using a Think Global,act

question 61

Multiple Choice

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

• A)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.
• B)little or no strategy coordination across countries.
• C)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.
• D)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.
• E)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.

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Definitions:

Symbolic Culture

A component of culture that is expressed through symbols, language, and nonmaterial culture, embodying the values and norms of a society.

Ideal Culture

The norms, values, and patterns of behavior that members of a society believe should be observed in principle.

Real Culture

The norms, values, and patterns of behavior that actually exist within a society (which may or may not correspond to the society’s ideals).

Symbolic Culture

Consists of the non-material aspects of culture including beliefs, language, values, and norms that are conveyed through symbols.