INTRODUCTION

Chapter 9: Control of Global Business The stakeholder model of
strategy formulation believes businesses exist to benefit not just

their shareholders, but also all the various groups that have a
meaningful stake in their operations. Such groups, for example, might
include a company’s employees, customers, and the community where it
operates. True Walmart deciding to buy more apparel products from
lower-priced Chinese manufacturers (rather than from somewhat more
expensive apparel manufacturers in the United States) during the next
six months is an example of an operational plan. True Hershey
Corporation has expanded and extended its business by developing new
products and increasing global reach, but has done so in a very
careful manner, avoiding undue risks and protecting its existing
business operations. For this reason, it would fall into the category
of an analyzer. True When R&D discoveries in the United States
operations of Anadarko Petroleum Corporation can easily be
communicated to and accepted by its operations in Ghana, it is an
example of Anadarko's absorptive capacity. True The president of a
small company makes a point to touch base with every employee each
day; this is an example of an interpersonal control. True A key
output metric for some global businesses is market share, or the
percentage of the business in a certain market that is captured by a
product or service the organization provides. TrueFor global
companies that take more of a shareholder approach to strategy
formation, corporate social responsibility is probably the most
important output control of all. False Organizational change in
business is almost always most effective when pushed from the bottom
by the company's rank and file employees. False Tacit knowledge is
easier to communicate than explicit knowledge. False "In everything
we do, we're driven by a common mission: saving people money so they
can live better." This is an example of Wal-Mart's _____. mission
statement A company following a shareholder model of strategy
formulation would be MOST focused on its ______. Owners The large oil
exploration company, Anadarko Petroleum Corporation, takes a(n)
______ toward strategy formulation, placing a very clear emphasis in
strategy formulation upon how its business decisions will help
deliver and ongoing and competitive rate of return to its owners.
Shareholder Organizations that have basic strategic implementations
involving extending their success through global expansions and
finding new market opportunities are called _____. Prospectors
Anadarko Petroleum Corporation may decide that the best long-term way
to implement its strategic goal of providing financial returns to its
shareholders could be to explore for oil in other parts of the world
where it has not yet explored, such as Africa. This is an example of
Miles and Snows' _____ typology. Prospectors Hershey Corporation has
assiduously expanded and extended its business by developing new
products and increasing global reach, but it has done so in a very
careful manner, avoiding undue risks and protecting its existing
business operations. This is an example of Miles and Snows' _____
typology. Analyzer A top salesperson "just knows how to sell" but has
a difficult time communicating how she does it. Her ability to sell
is an example of _____. tacit knowledge A lamp manufacturing company
has a written, ten-step process that describes how to put together
its best-selling table lamp. This is an example of _____. explicit
knowledge Of the following, which is NOT true about knowledge
management and systems? Absorptive capacity refers to systems of
rules and regulations promulgated within a global business. A rule
that all employees in the organization (including the CEO) must fly
coach when they travel on commercial airlines represents a consistent
_____ control within an organization. Bureaucratic Former General
Electric CEO Jack Welch was well known for regularly meeting one-on-
one with all senior managers and business unit heads. Welch was
practicing _____ control. interpersonal Las Vegas hotelier MGM Mirage
recently spent $8.5 billion on a new resort that adds almost 5,000
new rooms to a market that some argue is already saturated. Which of
the following output controls and measurement is MGM Mirage using?
Growth An organizational initiative that aims to limit defects or
problems to 3.4 per million is a(n) Six Sigma initiative For
generations there has been a norm of "highest quality in journalism"
at the New York Times newspaper. In this context, the newspaper's
reporters don't require close supervision to do great journalistic
work. This is an example of the organizational _____ at the New York
Times. Culture ABC Manufacturing focuses on implementing a basic
market strategy of concentrating upon existing operations and
protecting their home turf. ABC can be described as a _____. Defender
If Dunkin Donuts (DD) were to follow the actions of Starbucks and
copy all of their strategies and pricing, DD could be described as
a(n) _____. reacto

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Chapter 9: Control of Global Business The stakeholder model of

strategy formulation believes businesses exist to benefit not just

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