Which Concept Is Novartis'S Marketing Initiative Based On

Question: Globalization

Answer: The integration and interdependence of economic, technological, socio-cultural, and political systems across diverse geographic regions.

Question: global mind-set

Answer: The ability of managers to appreciate and influence individuals, groups, organizations, and systems that represent different social, cultural, political, institutional, intellectual, and psychological characteristics.

Question: A result of globalization is _________ countries, businesses, and people.

Answer: increasing interdependence of

Question: Which of the following are ways in which globalization impacts companies? Check all that apply

Answer: Products can be manufactured in countries where labor costs are less and then sold at a more competitive price.

Divisional headquarters may be in more than one country.

A company can take advantage of an expanding foreign market when its domestic market is not growing.

Question: multinational corporation (MNC)

Answer: Although the term has no precise definition, a multinational corporation (MNC) typically receives more than 25 percent of its total sales revenues from operations outside the parent’s home country.

Question: The bottom of the pyramid (BOP) concept proposes that

Answer: corporations can alleviate poverty and other social ills, as well as make significant profits, by selling to the world’s poor.

Question: Some researchers distinguish among _________, which place emphasis on their home countries, _____________, which are oriented toward the markets of individual host countries, and __________, which are truly world-oriented

Answer: ethnocentric companies, polycentric companies, geocentric companies

Question: Exporting is

Answer: a market entry strategy in which a company maintains production facilities within its home country and transfers products for sale in foreign countries.

Question: Global outsourcing, also called offshoring, means

Answer: engaging in the international division of labor so that work activities can be done in countries with the cheapest sources of labor and supplies

Question: In a joint venture,

Answer: a company shares costs and risks with another firm, typically in the host country, to develop new products, build a manufacturing facility, or set up a sales and distribution network.