Answer any three (3) of the following questions. Be sure to mark the number of the...

80.2K

Verified Solution

Question

General Management

Answer any three (3) of the following questions.
Be sure to mark the number of the question you areanswering.
1. Distinguish between global and multi-domestic strategies.Under what industry conditions will each be appropriate?
2. Why is strategic control important in the strategicmanagement process?
3. What are the advantages and disadvantages of verticalintegration for a firm?
4. Why are effective reward and incentive programs important forthe modern corporation? Give reasons for your answer.
5. Describe three (3) possible ways in which a firm candiversify its operations.
6. In what ways do you think that diversification generatescompetitive advantage for a company?
7. What are the steps managers use to design a control systemfor their firm?

Answer & Explanation Solved by verified expert

4.0 Ratings (568 Votes)

1 Distinguish between global and multidomestic strategies Under what industry conditions will each be appropriate Multidomestic and global companies are similar in that both involve operations in two or more countries The central difference is strategic Multidomestic companies change some aspect of what they do in each country whereas global companies maintain the same basic business approach in each market Multidomestic Purpose and Strengths A multidomestic company adapts to each market based on differences in resource availability cultural values product usage and marketing opportunities Primary strengths of a multidomestic approach include Customized offerings A core strength is a companys ability to tailor its activities and products to the interests and needs of each market A business may offer highend goods in a more affluent market but scaleddown lowerpriced goods in a market with lower percapita income Concentrated efforts Business activities are concentrated on success in a single market This focus allows for optimized production marketing and services Quick response A companys ability to react to the changing needs of the marketplace is greater with a multidomestic strategy Each local headquarters or business unit is See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member