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Which foreign marketing strategy is characterized by niche companies that adapt their products to satisfy the high demands of differentiation and ignore economies of scale because integration is not very important?

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1. According to the text, strategic planning helps MNCs to do all of the following except: A. Coordinate and monitor its far-flung operations B. Deal with political risks C. Determine performance D. Get higher profitability 2. All of the following are characteristics of TQM except: A. Quality is operationalized by meeting or exceeding customer expectations B. The quality strategy is formulated by the front-line employees and is diffused throughout the organization C. Everyone from top executives to hourly employees operates under a TQM strategy of delivering quality products/services to internal and external customers D. TQM techniques range from traditional inspection and statistical quality control to cutting-edge human resource management techniques 3. This approach to formulation and implementation is one in which the MNC makes strategic decisions based on the merits of the individual situation rather than using a predetermined economic or political strategy. A. Administrative coordination B. Bureaucratic coordination C. Value-added D. Functional 4. Which foreign marketing strategy is characterized by niche companies that adapt their products to satisfy the high demands of differentiation and ignore economies of scale because integration is not very important? A. Multi-domestic B. International C. Globalization D. Transnational 5. Aircraft manufacturing fits which of the following globalization versus local responsiveness combination? A. High pressure for globalization, high pressure for local responsiveness B. High pressure for globalization, low pressure for local responsiveness C. Low pressure for globalization, low pressure for local responsiveness D. Low pressure for globalization, high pressure for local responsiveness 6. Which of the following is an advantage of a global area division structure? A. The structural arrangement helps a firm manage a diverse product line B. The structural arrangement helps a firm cater to local needs in foreign markets C. The marketing, production and finance divisions of the firm can be coordinated on a product-by-product global basis D. The structural arrangement helps a firm develop an overall, unified approach to international markets 7. Subsidiaries that are located anywhere in the world where they can benefit the organization are called: A. Chaebols B. Keiretsus C. Specialized subunits D. Dispersed subunits 8. In which of the following MNC structures are tight process bureaucratic controls used to maintain product quality and consistency? A. Transnational network structure B. Global area division C. Matrix structure D. Global product division 9. Pushing decision making down the line and getting the lower-level personnel involved is referred to as: A. Centralization B. Decentralization C. Horizontal specialization D. Vertical specialization 10. Laws that require that nations hold a majority interest in the operation are known as: A. Commercial laws B. Appropriation laws C. Indigenization laws D. Expropriation laws 11. Tariffs on exports and imports, restrictions on exports, dividend remittance and capital repatriation are examples of: A. Transfer risks B. Expropriation risks C. Operational risks D. Exchange risks 12. Some multinational corporations attempt to manage political risk through simultaneously analyzing a range of variables to derive an overall rating of the degree of political risk in a given jurisdiction. This is referred to as a: A. Quantification process B. Quantification circle C. Quantity risk analysis D. Quantity management 13. All of the following are examples of integrative techniques except: A. Developing good relations with the host government and other local political parties B. Doing as little local manufacturing as possible and conducting all research and development outside the country C. Producing as much of the product locally as possible with the use of in-country suppliers and subcontractors, thus making it a “domestic” product D. Developing effective labor-management relations 14. When host governments do not require alliances as a condition for entry many MNCs: A. Are advised not to voluntarily pursue alliances as they tend to be problematic B. Are usually indifferent about establishing alliances C. Find that having an alliance is advantageous to their entry and expansion D. Are likely to consider alliances, except in emerging markets and highly regulated industries 15. According to the text, one of the primary areas where TQM is having a big impact is: A. Human resources management B. Manufacturing C. Marketing D. Finance 16. The process of evaluating results in relation to plans or objectives and deciding what action, if any, to take is referred to as: A. Directing B. Decision-making C. Supervising D. Controlling 17. MNCs generally use direct controls to monitor performance on a: A. Semi-annual basis B. Monthly basis C. Bi-monthly basis D. Quarterly basis 18. The use of quality circles is a TQM technique associated with the control function which was popularized by the: A. Japanese B. Germans C. French D. Chinese 19. The three basic elements in the process of motivation are: A. Needs, abilities and desires B. Desires, drives and accomplishments C. Needs, drives and goal attainment D. Perceptions, attitudes and goal attainment 20. Work-motivation in terms of what arouses, energizes or initiates employee behavior are explained by: A. Extrinsic theories B. Content theories C. Intrinsic theories D. Process theories 21. The following needs are correctly matched with their descriptions except: A. Physiological needs – the need for food, clothing, shelter and other basic, physical needs B. Safety needs – the desire for security, stability and the absence of pain C. Social needs – the need for power and status D. Self-actualization needs – the desire to reach one’s full potential by becoming everything one is capable of becoming 22. The two-factor theory of motivation holds that two sets of factors influence job satisfaction. These are: A. Inducement, subsistence B. Advancement, responsibility C. Hygiene, motivators D. Recognition, rewards 23. According to this theory, a great deal of creative potential basically goes untapped and if these abilities can be tapped, workers will provide much higher quantity and quality of output. A. Theory X B. Theory Z C. Theory Y D. Theory A 24. Identify the leadership style that is best summarized by the statement, “Work hard and the company will take care of you”. A. Autocratic B. Authoritarian C. Participative D. Paternalistic 25. The creation of uncertainty and the analysis of many alternatives regarding future action is referred to as: A. Variety expansion B. Variety subtraction C. Variety amplification D. Variety reduction 26. Which of the following leaders takes action or intervenes in situations only when standards are not met? A. Passive management-by-exception leader B. Laissez-faire leader C. Contingent reward leader D. Active management-by-exception leader 27. Expatriate managers who are citizens of the country where the multinational corporate is headquartered are referred to as: A. Host-country nationals B. Home-country nationals C. Inpatriates D. Third-country nationals 28. The process of evaluating how well a family is likely to stand up to the stress of overseas life is referred to as: A. Suitability assessment B. Selection fitness C. Adaptability screening D. Expatriate fitness 29. The most common elements in the typical expatriate compensation package include: A. Base salary, benefits, allowances, incentives and taxes B. Base salary, bonuses, stock options and free housing C. Base salary, benefits, free housing and free education for the expatriate’s children D. Base salary, benefits, free travel, free housing and taxes 30. Which of the following approaches is used to develop an expatriate compensation package that involves setting a compensation system for all expats who are assigned to a particular region and paying everyone in accord with that system? A. Regional system B. Balance-sheet approach C. Cafeteria approach D. Lump-sum method Short Answers: (for your answers use space as much as you need) 1. What is the purpose of internal resource analysis? In the context of internal resource analysis, what is a “key success factor”? Ans: The internal analysis is traditionally the third and final section of your strategic analysis and can be completed at corporate or tactical operational level. Typically prior to starting this analysis you will have completed a 1.Macro environment analysis, and 2.Industry environment analysis The corporate level internal analysis is about identifying your businesses value proposition or core competencies. These are sometimes referred to as your core capabilities; strategic competitive advantages or competitive advantage these terms all represent essentially the same thing. Example: core capabilities KEY SUCCESS FACTOR: The key to the success of your analysis is in the ability to identify the strategic value of the resource. The steps for completing your internal analysis using the resource model are, • Brainstorm a list of resources for your industry that are specific to either you or your competitors 2. What is expropriation risk? ANS: The official seizure by a government of private property. Any government has the right to seize such property, according to international law, if prompt and adequate compensation is given. 3. Describe the differences between direct controls and indirect controls? Provide an example of each type of control for the management of a MNC. ANS: DIRECT CONTROL: The use of face-to-face or personal meetings for the purpose of monitoring operations. • International telephone and telegraph (ITT) hold a monthly management meetings t its new york head quarters Examples: Meetings are run bye the CEO of the company • Reports are submitted by each (ITT) unit manager through out the world. • Problems are discussed; goals set evaluations made, and actions taken to help the unit to improve its effectiveness. INDIRECT CONTROL: The use of reports and other written forms of communication to control operations at subsidiaries. • Financial statements which they prepared to meet the national accounting standards and procedures prescribed by the host country 4. What are the different types of leadership styles? ANS: 1.Autocratic or Authoritarian: In this style the complete authority is in one person’s hand and no one else can question it. It is also known as totalitarianism or dictatorship. 2. Paternalistic: In this style, the authority is in the hand of one individual. However, that one individual cares more about the employees than outcomes and profits. That means the manager will be more like a parent rather than a boss. 3. Democratic: in this management style, the management allows the employees to voice their opinions. 5. Identify the criteria that would influence a multinational corporation in the selection of an individual for an international assignment. ANS: If the international assignment is to be successful, management needs to understand the many factors that affect the selection and acceptance process. These factors include the high cost of the assignment, the significant distance the employee will be from home, the cultural differences in work and living environments, and acceptance of the assignment by the employee’s family. A good way to avoid last-minute mistakes is to have an effective selection process that prepares for foreign assignments ahead of time. Any company planning to expand internationally will benefit by establishing procedures for assigning the best candidates. When creating the selection process, you should consider: ? Personnel involved in the selection process, ?Company goals for the assignment, ? Professional skills and personal attributes needed for the opening, ? Creation of a pool of candidates, and ? Which selection methods you will use.

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