Product knowledge refers to the idea that managers must ________.
A) understand the cultural, commercial, social, and economic conditions in each host country in which the firm does business
B) be aware of the competitive forces that have implications for global strategy in each market
C) comprehend features such as technological trends, customers needs, and competitive forces affecting the goods the firm produces
D) have access to coworkers with expertise in basic business functions such as production, marketing, finance, accounting, human resources management, and information technology
Question 2
Which of the following is one of the managerial philosophies that guide the approach to functions like organizational design and marketing?
A) ethnocentric approach
B) transnational approach
C) supranational approach
D) intranational approach
Question 3
________ argued that firms struggle to develop some sustainable competitive advantage which they then exploit to dominate the global marketplace.
A) Porter
B) Vernon
C) Heckscher and Ohlin
D) Krugman and Lancaster
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