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International Business > Oktober 19 > Flashcards

Oktober 19 Flashcards

1
Q

Which three steps are needed to implement a strategy?

A
  1. Strategy Formulations
  2. Strategy Implementation
  3. Strategy Control
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2
Q

To implement a Strategy, there are 3 Steps needed:

  1. Stragey formulations
  2. Strategy implementation
  3. Strategy control
    * –> give detailed information about point 1.*
A
  1. Strategy formulations
    - external and internal assessment
    - Goal setting

Instruments:

  • PESTEL
  • Porters 5 Forces
  • SWOT/TOWS
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3
Q

To implement a Strategy, there are 3 Steps needed:

  1. Stragey formulations
  2. Strategy implementation
  3. Strategy control

–> give detailed information about point 2.

A
  1. Strategy implementation

Its all about Functional Strategies:

  • Marketing
  • Produktion
  • Supply Chain
  • R and D
  • Procurement (Beschaffung)
  • HR
  • Finance, IT etc.
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4
Q

To implement a Strategy, there are 3 Steps needed:

  1. Stragey formulations
  2. Strategy implementation
  3. Strategy control

–> give detailed information about point 3.

A
  1. Strategy Control

all about methods of measurement:

  • Return on investment
  • Sales growth / Market share
  • MNE/ host-country relations
  • Management Performance

–> Kennzahlen!!!

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5
Q

Resource Based View

v.

Market Based View

A

Resource Based View:

What am I good at/excellent in?

–> Focus on unique competencies and postion the firm get the most of them

Market Based View:

Where (market/industry) can I be successful?

–> Postion in favour of industry attractiveness

Dort positionieren wo der Markt attraktiv ist

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6
Q

Strategy: What are de determinants of enterprise value and what exactly do I want to improve?

Profitability v. Profit growth

welche unterschiedliche herangehensweise gibt es bei den beiden determinanten?

A

Profitability:

  • reduce cost
  • add value and rise prices

Profit growth:

  • sell more in existing markets
  • enter new markets
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7
Q

How is the strategy influenced by the international business?

(7)

A
  • Industry Structure and drivers
  • competitive dynamics
  • economic conditions
  • political, legal and regulatory environment
  • technological standards and trends
  • cultural orientation
  • custumor expectations
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8
Q

Strategy:

Name the 3 sustainable competitive advantages of Swiss SME

Quality ist King and also this 3 advantages:

A

Efficiency: lower the cost of the operations and activities on a global scale

Flexibility: ability to use local resources and exploit local opportunities (diverse and volatile enviornment)

Learning: unique learning opportunities because of diverse internatinal environment

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9
Q

Culture

Definition

A

“… Culture should be regarded as the set of
distinctive spiritual, material, intellectual and
emotional features of society or a social
group, and that it encompasses, in addition to
art and literature, lifestyles, ways of living
together, value systems, traditions and beliefs.”

“… Kultur sollte als die Gesamtheit der folgenden Aspekte betrachtet werden
unverwechselbare spirituelle, materielle, intellektuelle und
emotionale Merkmale der Gesellschaft oder eine soziale Komponente
Gruppe und dass sie zusätzlich zu den folgenden umfasst
Kunst und Literatur, Lebensstile, Lebensweisen, Lebensweisen
zusammen, Wertesysteme, Traditionen und Überzeugungen.”

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10
Q

Culture

Examples of the

visible vs. the invisible

A

visible:

Food, Art, Fashion, Literature, Language, Festivals, Music/Dance, Games

invisible:

Gender Roles, Greeting Rituals, Concepts of Beauty, Methods and Problem Solving, Concepts of Religion, Nonverbal Communication

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11
Q

Layers of Social Behavior

Universal

A
  • The human nature
  • universal values
  • commonly shared world view
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12
Q

Layers of Social Behavior

Cultural

A

Values, ethics, norms, behaviour, etiquette, and communication patterns, that are all sharped by a particular group of people who share specific conditions that require specific solutions of adjustment that fits this particular context, e.g. language, technology, tools, communication,… Nurtures Cultural Diversity.

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13
Q

Culture at Two Levels

  1. The Pyschological Level
  2. The Institutional Level
A

1. The Psychological Level:
Focuses on internalized norms,
attitudes, values and behaviors of
individuals from a particular culture

2. The Institutional Level:

National or group culture embodied in institutions
(i.e. government, education, economic
institutions, & business organizations).

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14
Q

Culture:

Achivement v. Ascription (Zurückführung)

A

Achivement

–> Respect is given based on what you do

e.g. Steve Jobs

Ascription

–> Respect is given based on who you are

e.g. Prince Henry of Wales

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15
Q

Culture:

Affective vs. Neutral

A

Affective

Emotional

+ warm, engaged, spontaneous, expressive

  • hysterical, over-reacting, unmanagemable, emotionally unstable

Neutral

Detached (distanziert)

+ balanced, reasonable, in-control, emotionally stable

  • cold, detached, evasive (ausweichend)
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16
Q

Culture

Individualism v. communitarianism

A

individualism

–> focus on the individual, “I” Culture

+ competition, self-reliance, personal growth/fulfilment, freedom

  • greed, waste, egotism, victim-blaming, lack of social purpose

communitarianism

–> focus on the group, “We” culture

+ cooperation, teamwork, social concern

  • medocrity, slow progress, lack of individual initiative
17
Q

Culture

Universalism v. Particularism

A
18
Q

Culture

Sequential time v. Synchronous Time

A
19
Q

Culture

Inner locus of control

v.

outer locus of control

A
20
Q

Culture Summary

Universalism v. Particualrism

etc.

etc.

A
21
Q

Culture

Key Points

A

‒ Cultural norms depend on the environment; Rules of engagement can change; Be ready to adjust and adapt.
‒ Social Behaviour is based on three layers: Universal, Cultural, and Personal.
‒ Culture unfolds on two levels: the Psychological Level (internalized norms, attitudes, behaviours, etc.) and the Institutional Level (national, societal, or group culture in government, economic in-stitutions, and business organizations).
‒ Stereotypes can be helpful in making generalizations but beware that they don’t interfere with communication and understanding.
‒ Cultural dimension models help us to identify, measure, and reconcile cultural differences.

22
Q

Universalist vs. Particularist Business Behavior

A

Universalist Business Behavior
- Focus is more on rules than relationships
- Deal-oriented managers focus on the task at hand; can be impersonal,
typically use contracts, and want to “get down to business”
- Strive to treat all employees the same way via consistency and uniform
procedures

Particularist Business Behavior
- Focus is more on relationships than on rules
- Relationship-oriented managers value affiliations with people, and
getting to know the other party in business interactions
- Trust is highly valued in business agreements, and maintaining good
relationships can be more important than closing the deal
- Treat employees according to their special individual merits

23
Q

Individualist vs. Communitarianist Business Behavior

A

Individualist Business Behavior
- People ideally achieve alone and assume personal responsibility.
- Conducting business alone means that this person is respected by
his or her company and has its esteem.
- Quick decisions are made by the person responsible.

Communitarianist Business Behavior
- People ideally achieve in groups which assume joint responsibility.
- Conducting business when surrounded by helpers means that this
person is respected by his or her company and has its esteem.
- Some time is taken in order to achieve group consent.

24
Q

Culture

Specific vs. Diffuse

A
25
Q

Time Oriented

  1. past, 2. present and 3. Future
A

1. Past-orientation: respect for ancestors, traditions, collective
historical experiences

2. Present-orientation: day-by-day experience directs people’s
life, focus on doing and action

3. Future-orientation: activities are directed toward future
prospects, focus on planning

26
Q

Stereotyping

Definition

A
  • … a common but oversimplified
    and fixed image or idea of a
    particular type of person or
    thing
  • Based on the tendency to
    group things together
  • Stereotypes are often
    unconscious and in line with
    our own cultural programming
  • By stereotyping, we tend to
    exaggerate similarities of
    things within the same group
    and differences between
    groups
27
Q

Stereotyping

Cognitive economy

and

In-group favorability bias

A

Cognitive Economy
- Efficient categorization: negates the
need to re-assess specific situations
- Predictive ability: assumes knowledge
of how an “other” group will act,
behave, respond, etc.

In-Group Favorability Bias
- Social identity: a person’s sense of who
they are based on their group
membership
- Group membership: source of pride and
self-esteem, source of sense of
belonging

28
Q

Culture

Pygmalion

v.

Golem Effect

A

Pygmalion Effect: Higher expectations
(positive prejudice) lead to increased
performance

- Golem Effect: Lower expectations
(biased, prejudice, etc.) lead to
decreased performance

29
Q

Culture

Stereotypes

v.

Generalisation

A

Stereotypes
- Categorizing all members of a group as
having the same characteristics
- Selective and inflexible perception
- Observations are subjective, judgmental
- Clichés

Generalizations
- Categorizing many members of a group
as having similar characteristic tendencies
- Flexible perception
- Observations are neutral, objective
- Tendencies

International Business (7 decks)

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