Strategic Management - Study Mode

[#226] International business has grown rapidly in recent decades for all the following reasons EXCEPT
Correct Answer

(D) increased cost of labor in both the lesser-developed and developing countries

Explanation

Solution: International business has grown rapidly in recent decades for all the following reasons EXCEPT increased cost of labor in both the lesser-developed and developing countries. International business encompasses all commercial activities that take place to promote the transfer of goods, services, resources, people, ideas, and technologies across national boundaries.

[#227] Developing a __________ is like having a dream to be covered into reality in future
Correct Answer

(D) Vision

Explanation

Solution: Developing a vision is like having a dream to be covered into reality in future. An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.

[#228] Which of the following is not a key theme in market development?
Correct Answer

(C) Developing new products for new markets and segments

Explanation

Solution: Developing new products for new markets and segments is not a key theme in market development. New product development (NPD) is the process of bringing a new product to the marketplace.

[#229] First step in developing a vision statement is
Correct Answer

(D) Conducting vision audit

Explanation

Solution: First step in developing a vision statement is conducting vision audit. The vision for your organization should be aggressive, yet attainable. Your organization will never be greater than the vision you create in this process.

[#230] ___________arises when a firm is able to perform an activity that is distinct from competitors
Correct Answer

(A) competitive advantage

Explanation

Solution: Competitive advantage arises when a firm is able to perform an activity that is distinct from competitors. Competitive advantage refers a company's ability to outperform rivals due to unique, high demand, or superior quality products or services.