The Strategy Of International Business

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Question 1
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A firm's strategy can be defined as the actions that managers take to attain the goals of the firm.

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Question 2
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The preeminent strategic goal for most firms is to maximize the value of the firm for its owners.

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Question 3
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Profit growth is measured by the percentage increase in net profits over time.

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The amount of value a firm creates is measured by the difference between its costs of production and the price that it charges for its products.

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Question 5
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The customer is able to garner the benefit of the consumer surplus because one firm is competing with other firms for the customer's business,so the firm must charge a lower price than it could if it were a monopoly supplier.

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Question 6
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According to Porter,the way to create superior value is to drive down the cost structure of the business and/or differentiate the product in some way so that consumers value it more.

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Question 7
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Diminishing returns imply that when a firm already has significant value built into its product offering,increasing value by a relatively small amount requires significant additional costs.

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Question 8
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For a firm,all positions on the efficiency frontier are viable.

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Question 9
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The strategy,operations,and organization of a firm must all be consistent with each other if the firm is to attain a competitive advantage and achieve superior profitability.

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Question 10
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Support activities include the design,creation,and delivery of a product.

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Question 11
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R&D,production,marketing and sales,and customer service are all examples of primary activities.

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Question 12
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Support activities are always less important than the primary activities in achieving a competitive advantage.

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Question 13
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Top management should be viewed as part of the firm's infrastructure

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Question 14
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Global expansion offers companies the opportunity to generate greater profits than companies that focus strictly on the domestic market.

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Question 15
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The success of many multinational corporations is based not just upon the goods or services that they sell in foreign nations,but also upon the core competencies that underlie the development,production,and marketing of those goods or services.

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Question 16
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The skills within the firm that a competitor cannot easily match or imitate are known as core competence.

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Question 17
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Core competencies enable a firm to reduce the costs of value creation and/or to create perceived value in such a way that premium pricing is possible.

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Question 18
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Economies that arise from performing a value creation activity in the optimal location are known as location economies.

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Question 19
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Systematic increases in sales that have been observed to occur over the life of the product are referred to as the experience curve.

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Question 20
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Cost savings that come from learning by doing are known as economies of scale.

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