IB Ch. 10, 14, 15, and 18 Test Review

When two parties agree to exchange currency and execute the deal immediately, the transaction is a _____.

By centralizing decision making, a firm _____.

The identification of distinct groups of consumers whose purchasing behavior differs from others is known as _____.

In firms pursuing ___, some decisions are centralized, while others are decentralized.

___ differences acts as a major brake on any trend toward global consumer tastes and preferences.

T/F: The choice between centralizing an organization or decentralizing it is absolute.

Which of the following is one of the four main arguments favoring centralization?

Which of the following decisions is typically centralized at a firm's headquarters?

A firm pursuing ________ will have a strong incentive to decentralize decision making.

T/F: Tangible property includes patents, designs, copyrights, and trademarks.

T/F: An organizational culture can be strong but bad.

Which of the following is one of the five main arguments favoring decentralization?

T/F: New processes leading to a competitive advantage can be developed anywhere in an org.'s network of operations.

T/F: When determining the value of a foreign market, an int'l firm must consider both its products and the competition.

___: the costs of promoting and establishing a product offering when a firm enters a foreign market prior to its rivals

________ control is a type of control that tends to be most widely used in small firms.

In ________, the contractor agrees to handle every detail of the project for a foreign client.

A firm that needs greater flexibility should choose ________ for its decision making.

___: the manner in which decisions are made and work is performed within the organization

T/F: A firm's organizational architecture does not necessarily need to be consistent with its strategy.

T/F: Markets can be segmented in only one way—by sociocultural factors.

T/F: The structure of market segments may differ significantly from country to country.

The emphasis on local responsiveness in firms pursuing a localization strategy creates strong pressures for _____.

T/F: The foreign exchange market converts currency of one country to that of another country.

The means a firm chooses for delivering the product to the consumer is its _____.

T/F: A decentralized organization lets managers respond to environmental changes more quickly than a centralized one.

What are the two main functions of the foreign exchange market?

Marriott owns hotels,such as W (luxury); Westin (upscale); and Fairfield (midscale). They market hotel based on _____.

Regardless of a firm's domestic structure, its international division tends to be _____.

In a company using ___, employees tend to control their own behavior, reducing the need for direct supervision.

The norms and values systems that are shared among the employees of a company are referred to as _____.

Centralization _____.

T/F: Performance ambiguity lowers the cost of control.

________: the amount of time top management must devote to monitoring and evaluating subunits' performance.

Other things being equal, the benefit-cost-risk trade-off is likely to be most favorable in _____.

________ are the advantages associated with entering a market early.

________ are exchange rates governing some specific future date foreign exchange transactions.

The costs and risks associated with doing business in a foreign country are typically _____.

Centralization and decentralization differ because centralization _____.

T/F: A $'s value is determined by how demand & supply of that $ interact relative to demand & supply of other $.

T/F: Beyond the initial division of a business, further differentiation may be needed to diversify product offerings.

A firm's ________ determines where in its hierarchy the decision-making power is concentrated.

T/F: The "business" appeal of a country depends on balancing benefits, costs, and risks with doing business there.

T/F: 4 elements comprise the marketing mix: product attributes, & distribution, communication, and pricing strategies.

A firm's organizational culture refers to the _____.

What is horizontal differentiation?

The rate at which one currency is converted into another is known as the _____.

___: the metrics used to measure performance and make judgments about how well managers are doing things?

T/F: If a manager gets a bonus because the department she is in charge of exceeds its goals, that's an incentive.

Which of the following is more difficult for a leader?