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International Management - Marcador
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International Management - Detalles
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134 preguntas
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| An absolute advantage means that your country is better at producing a product or service at a lower cost than the other nation. ex. India - Operating callcenters | What is an absolute advantage? |
| The ability to produce a particular product at a lower opportunity cost compared to a trading partner (nation or company) | Comparative advantage |
| -USA -South Africa -Germany -Australia -Sweden -Norway -Israel -Poland etc | Name 3 culturally individualistic countries |
| -Japan -Brazil -China -Portugal -South Korea -Mexico etc | Name 3 culturally collectivistic countries |
| Long term success or short term profit? Long term: Typical Asian countries Short term: US and many western countries | Long term and short term orientation |
| He concleded that there are seven cultural dimensions that can explain cross cultural communication. The model serves as a framework for understanding this | Describe Trompenaars cultural studdies |
| To aid economic growth individual countries have to give up some sovereignty to capital markets or multinational companies. | ¨Golden straitjacket¨ |
| Rapid technological advances develops new traveling options which then results in lowered transportation costs for the company, hence fueling the global trend. | Name one main reason to way globalization have increased in the recent years |
| Secondly, communicational improvements due to technology have allowed companies to ensure a better and constant flow throughout their operations. | Name another reason to why globalization have increased in the recent years |
| The cost of moving people have decreased with technological progress. Many can now work with global businesses from their home. You dont need to be in Asia to work with Asians ex. | Name a third reason to why globalization have increased in the recent years |
| Mixing foreign nations and people derives uncertainty leading to a nationalistic mindset that wants to preserve sovereignty and certainty. | Why is nationalism rising as an ideology from increased globalization? |
| Cultural distance: Languages differ as long with ethnicities, religion, values and norms. | What does the C stand for in CAGE |
| Administrative distance: Differences in legal rules, political risk and instability, government policies, and corruption level. | What does the A stand for in CAGE |
| Geographic distance: Physical remoteness, lack of a common border, lack of sea or river access, size of country, weak transportation or communication links, climates | What does the G stand for in CAGE |
| Economic distance: Differences in consumer incomes, costs, and human and natural resources | What does the E stand for in CAGE |
| When a company expands and executes other operations in the same supply chain. Ex. A car manufacturer can invest and open up a car store. (vertical intergration - distribution) | ¨Vertical intergration¨ |
| Describes how value is added or removed across the distribution of a value chain. | ¨The smiling curve¨ |
| R&D: Home country Design: Home country Manufacturing: Home country Sales: Host country/countries Distribution & Service: Host country/countries | How does the "Home replication strategy" work? |
| R&D: Home country Design: country 1 Manufacturing: country 1 & 2 Sales: Home country Distribution & Service: Home country & host countries Ex. Nike, ZARA | How does the "Global strategy" work? |
| Reduced overhead/administrative costs Allows for rapid expansion centralization of skills Brand name development | Why is standardization beneficial? |
| Some local needs and demands might be to important to overlook. Adaptation enables "economies of learning" since these new local tastes are yet unknown for the company. | Why is it better to adapt rather than to implement a standardized approach? |
| McDonals!!! Standardized operations for maximum efficiency. They are working in the line of semi-gloabalization Local tastes are fullfilled. McLobster in Canada... | Name one of the biggest brands in the world who are experts in adaptation while in the same time have very standardized operations. |
| McDonalds 7eleven Marriot KFC 17 maj hehe XD | Name 5 examples of companies that can be franchised |
| Natural resources and created factor conditions (skilled labour, scientific knowledge and infrastructure) that are specialized | What does "Factor conditions" explain in Porters diamond model? |
| Size and sophistication of domestic demand. | What does "Demand conditions" explain in Porters diamond model? |
| High quality, internationally competitive suppliers and supporting industries. | What does "Related and supporting industries" explain in Porters diamond model? |
| Highly competitive domestic industry helps international competitiveness. | What does "Strategy, Structure & rivalry" explain in Porters diamond model? |
| Arranged based expansion where a given stakeholder is granted the right to use a business concept or an intelectual property. Advantages: Low risk and low cost. Potential for fast expansion Disadvantages: Profit loss, low control of operations. If something goes wrong it can damage the brand. | What defines "Licensing & Franchising" and what are their pros and cons as entry modes? |
| Aquire a property in the foreign country through investments. Can be accomplished in the following way: -Wholly owned subsidary -Aquisition -Equity-based collaborative ventures with foreign partners. | What defines "FDI" and what is its pros and cons as an entry mode? |
| Acquiring all the stocks of the subsidary. Advantages: High level of control with a great profit potential, local knowledge of the market due to local personnel. Disadvantages: Risky business that requires a lot of capital, Challenging establishment where channels, partners etc needs to be built. Regulatory restrictions from the government. | What defines "Wholly-owned subsidary (greenfield investments)" and what is its pros and cons as an entry mode? |
| Mergers: When two separate firms combine their assets in order to create a new legal entity. Aquisition: When a company aquires all the assets from a targeted company and the target ceases to exist. Advantages: Economies of learning and scale. High profit potential. Reduced entry barries and increased overall market power. Disadvantages: Intergration issues | What defines "Mergers & Acquisitions (M&A)" and what is its pros and cons as an entry mode? |
| Contract regulated cooperations without equity holdings or creation of new entities. Ex. Licensing agreements, joint R&D, supply/distributoin agreements. | "Non equity strategic alliance" |
| Contract specified equity invetment by one of the partners into the other | "Equity strategic alliances" |
| Advantages: Shared risk, learning opportunities, access to new markets, partner complementary skills. Disadvantages: Conflicted interests by one or both partners, cultural clashes | What are the advantages and disadvantages with these strategic alliances? |
| Complememtarity: Do partners offer complemtary resources? Congruent goal: Is the goal for the venture common and shared? Compatability: Are the firms different culture and organization compatible with eachother? Change: How can the other C's change over time? | The four C´s of strategic alliances can help determine if the alliance is worth pursuing. Define them. |
| Going after the market with the most appealing characteristics | When chosing a foreign market to expand to, what does a "rational optimization" mean? |
| They are in the moment of founding trying to aim for a global market. They often arise from countries with smaller domestic markets such as Israel and Finland. Especially suitable for IT companies. | Describe the characteristics of a "Born Global" company |
| Good R&D capability Good product development capability Firm reputation (innovation) | What is required from a company before entering a market as a first mover? |
| Good learning capability (absorptive capacity) Responsive to customer needs Flexible organizational structure/strategy | What is required from a company before entering a market as a second mover? |
| Efficient manufacturing Firm reputation Good marketing skills Since established players already exists in the market, the need for flexibility is important for a late comer if trends shifts leading to a different type of demand. | What is required from a company before entering a market as a late mover? |
| CEO - Domestic divisions - International divisions | Conducting business accroding to a "Home replication strategy" requires a separate international division structure. Draw one on paper. |
| Decentralized decision making allowing local expertize. Resources and responsibilities are allocated to the division. Clear hierarchy rules and stable HQ connection. | What is the international division menatlity like? |
| HQ - World area divisions | Draw the organizational structure for a "Multidomestic Localization" company |
| Decentralized federation with free asset handling. Multinational mentality where operations are seen as a portfolio of independent bussineses. | Describe the "Multidomestic Localization" mindset. |
| Headquarters - Worldwide divisions - subdivisions | Draw the structure of a "Global standardized" company |
| Centralized hub regarding the decisions and responsibilities. Tight central control. Management sees the operations over seas as pipelines/channels to the market. | Describe the "Global organization" mentality |
| Matrix structure where Managers responds to both area and the product division. | How does the "Transnational strategy" look like? Draw the structure. |
| Managing tensions between global integration and local responsiveness. | What is the main challange in sustaining competitive advantages in a multinational context? |
| Motivation that arises within the individual. The individual wants to do something without reward playing a pivotal role. | "Intrinsic motivation" |
| Motivation is based on receiving a reward or avoiding punishment. | "Extrinsic motivation" |
| Unsatisfied need --> Drive toward goal to satisfiy need --> Attainment of goal | "The basic motivation process" |
| Five basic needs where each new step requires the completion of the prior ones. | "Maslows hierarchy of needs" |
| He claims that there are two factors that motivates job satisfaction. "Motivators" & "Hygiene factors" | What does Herzbergs two-factor theory of motivation explain? |
| Some individuals have a strong motivation to get ahead, to attain success, and to reach objectives. "High achievers" | McClelland’s Achievement Motivation Theory implies what? |