What are the unique challenges of the international strategic management process? Briefly describe the international strategic management process
What will be an ideal response?
Some possible answers include language, culture, politics, economy, currency, legal and accounting systems, governmental interference, and labor. In domestic operations, English is universally used, while in international operation the use of local language is required in many situations. In domestic operations, culture is relatively homogeneous, while it is quite diverse in international operations. Politics are stable and somewhat unimportant domestically but could be volatile internationally. The economy is uniform domestically but varies internationally. Finally, governmental interference is extensive and subject to change in international operations but minimal in domestic operations. The steps in the process are to 1.develop a mission statement, 2. perform a SWOT analysis, 3. set strategic goals, 4. develop tactical goals and plans, and 5. develop a control framework.
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When displayed on a monitor, data output is referred to as
A) reports. B) hard copy. C) soft copy. D) financials.
If the goods that are the subject of a sale are in the possession of a bailee and are to be delivered without being moved, when does the risk of loss pass to the buyer?
a. At such time as the contract of sale was entered. b. At such time as the buyer receives the negotiable document of title. c. When the seller tenders a nonnegotiable document of title to the bailee. d. When the bailee is orally notified of the sale.