Download Crafting and Executing Strategy Concepts and Cases 22nd Edition Thompson Solutions Manual all chapters

Crafting and Executing Strategy
Concepts and Cases 22nd Edition

Thompson Solutions Manual
Go to download the full and correct content document:
https://testbankfan.com/product/crafting-and-executing-strategy-concepts-and-cases-
22nd-edition-thompson-solutions-manual/
More products digital (pdf, epub, mobi) instant
download maybe you interests ...
Crafting and Executing Strategy Concepts and Cases 22nd

Edition Thompson Test Bank
https://testbankfan.com/product/crafting-and-executing-strategy-
concepts-and-cases-22nd-edition-thompson-test-bank/
Crafting And Executing Strategy 19th Edition Thompson

Solutions Manual
https://testbankfan.com/product/crafting-and-executing-
strategy-19th-edition-thompson-solutions-manual/
Crafting and Executing Strategy Concepts and Cases The

Quest for Competitive Advantage 21st Edition Thompson
Solutions Manual
concepts-and-cases-the-quest-for-competitive-advantage-21st-
edition-thompson-solutions-manual/

Quest for Competitive Advantage 20th Edition Thompson
Solutions Manual
concepts-and-cases-the-quest-for-competitive-advantage-20th-
edition-thompson-solutions-manual/
Crafting and Executing Strategy 19th Edition Thompson
Test Bank
https://testbankfan.com/product/crafting-and-executing-
strategy-19th-edition-thompson-test-bank/

Quest for Competitive Advantage 20th Edition Thompson
Test Bank
edition-thompson-test-bank/
Crafting And Executing Strategy Concepts And Cases The

Quest For Competitive Advantage 18th Edition Thompson
Test Bank

Quest for Competitive Advantage 21st Edition Thompson
Test Bank
concepts-and-cases-the-quest-for-competitive-advantage-21st-
Crafting and Executing Strategy The Quest for

Competitive Advantage Concepts 21st Edition Thompson
Solutions Manual
the-quest-for-competitive-advantage-concepts-21st-edition-
thompson-solutions-manual/
chapter 7 lecture notes
Strategies for Competing
in International Markets
Chapter Summary
Chapter 7 focuses on strategy options for expanding beyond domestic boundaries and competing in the markets of
either a few or a great many countries. The spotlight will be on strategic issues unique to competing successfully
in an economy that is globalizing. It will introduce a number of core concepts including multi-domestic, global,
and transnational strategies as well as the Porter diamond of national advantage and cross-country differences in
cultural, demographic, and market conditions.
Lecture Outline
I. Why Companies Expand Into Foreign Markets
ACTIVITY
Consider adding a LearnSmart assignment requiring the student to review this section of the chapter as
an interactive question and answer review. The assignment can be graded and posted automatically.
1. A company may opt to expand outside its domestic market for any of four major reasons:
a. To gain access to new customers—Expanding into foreign markets offers potential for increased
revenues, profits, and long-term growth and becomes an especially attractive option when a
company’s home markets are mature.
b. To achieve lower costs and enhance the firm’s competitiveness—Many companies are driven to
sell in more than one country because domestic sales volume is not large enough to fully capture
manufacturing economies of scale or learning curve effects and thereby substantially improve the
firm’s cost-competitiveness.
c. To gain access to low-cost inputs of production—Companies in industries based on natural resources

or labor content often find it necessary to operate in the international arena in order to minimize
material and labor costs.
d. To further exploit its core competencies—A company may be able to leverage its competencies and
capabilities into a position of competitive advantage in foreign markets as well as just domestic
markets.
e. To gain access to resources and capabilities located in foreign markets—A company may be able
to access resources and capabilities through cross-border alliances, joint ventures, or even cross-
border acquisitions.
185
Chapter 7 Strategies for Competingin International Markets 186
II. Why Competing Across National Borders makes Strategy Making More Complex
ACTIVITY
A. Home-Country Industry Advantages and the Diamond Model
1. Where industries are more likely to develop competitive strength depends on a set of factors that describe
the nature of each country’s business environment and vary from country to country.
2. The four major factors are summarized in a framework developed by Michael Porter and known as the
Diamond of National Competitive Advantage.
3. Figure 7.1, The Diamond of National Competitive Advantage, provides an illustration of Porter’s
Diamond and how the factors relate to the firm and each other.
4. Demand Conditions
a. The demand conditions in an industry’s home market include the relative size of the market, its
growth potential, and the nature of domestic buyers’ needs and wants.
b. Demanding domestic buyers for an industry’s products spur greater innovativeness and improvements
in quality. Such conditions foster the development of stronger industries, with firms that are capable
of translating a home-market advantage into a competitive advantage in the international arena.
5. Factor Conditions
a. Factor conditions describe the availability, quality, and cost of raw materials and other inputs (called
factors of production) that firms in an industry require to produce their products and services.
b. Competitively strong industries and firms develop where relevant factor conditions are favorable.
6. Related and Supporting Industries
a. Robust industries often develop as part of a cluster of related industries, including suppliers of
components and capital equipment, end users, and the makers of complementary products, including
those that are technologically related.
b. The advantage to firms that develop as part of a related-industry cluster comes from the close
collaboration with key suppliers and the greater knowledge sharing throughout the cluster, resulting
in greater efficiency and innovativeness.
7. Firm Strategy, Structure, and Rivalry
a. Different country environments foster the development of different styles of management,

organization, and strategy.
b. Fierce rivalry in home markets tends to hone domestic firms’ competitive capabilities and ready
them for competing internationally.
8. For an industry in a particular country to become competitively strong, all four factors must be favorable
for that industry.
B. Opportunities for Location-Based Advantages
1. Differences in wage rates, worker productivity, inflation rates, energy costs, tax rates, government
regulations, and the like create sizable variations in manufacturing costs from country to country.
2. For other types of value chain activities, input quality or availability are more important considerations.
These might include high quality raw material or educated workers.
C. The Impact of Government Policies and Economic Conditions in Host Countries
1. Cross-country variations in government policies and economic conditions affect both the opportunities
available to a foreign entrant and the risks of operating within the host country.
2. The governments of some countries are anxious to attract foreign investments, and thus they go all out
to create a business climate that outsiders will view as favorable.
3. Host governments may set local content requirements on goods made inside their borders by foreign-
based companies, put restrictions on exports to ensure adequate local supplies, regulate the prices of
imported and locally produced goods, and impose tariffs or quotas on the imports of certain goods.
4. Host governments provide specific risks in two intertwined categories; political risks based upon
instability of weak governments and economic risks based upon instability of a country’s economy and
monetary system.
CORE CONCEPT
Political risks stem from instability or weaknesses in national governments and hostility
of foreign business. Economic risks stem from the stability of a country’s monetary
system, economic and regulatory policies, lack of property rights protections, and risks
due to exchange rate fluctuations.
D. The Risks of Adverse Exchange Rate Shifts
1. The volatility of exchange rates greatly complicates the issue of geographic cost advantages. Currency
exchange rates often fluctuate as much as 20 to 40 percent annually.
2. Sizable shifts in exchange rates pose significant risks for two reasons:
a. They are hard to predict because of the variety of factors involved and the uncertainties surrounding
when and by how much these factors will change.
b. They create uncertainty regarding which countries represent the low-cost manufacturing locations
and which rivals have the upper hand in the marketplace.
3. To illustrate this, U.S. manufacturers benefit from a weaker dollar as they compete globally with low
cost manufacturers:
a. Declines in the value of the U.S. dollar against foreign currencies have the effect of raising the
U.S. dollar–costs of goods manufactured by foreign rivals at plants located in the countries whose
currencies have grown stronger relative to the U.S. dollar.
b. A weaker dollar makes foreign-made goods more expensive in dollar terms to U.S. consumers—
this acts to curtail U.S. buyer demand for foreign-made goods, stimulate greater demand on the part
of U.S. consumers for U.S.-made goods, and reduce U.S. imports of foreign-made goods.
c. A weaker U.S. dollar has the effect of enabling the U.S.-made goods to be sold at lower prices to
consumers in those countries whose currencies have grown stronger relative to the U.S. dollar.
d. A weaker dollar has the effect of increasing the dollar value of profits a company earns in those
foreign country markets where the local currency is stronger relative to the dollar.
e. A weaker U.S. dollar is therefore an economically favorable exchange rate shift for manufacturing
plants based in the United States.
E. Cross-Country Differences in Demographic, Cultural, and Market Conditions
1. Buyer demand for particular products and services can differ substantially from country to country.
2. Companies operating in an international marketplace have to wrestle with whether and how much to
customize their offerings in each country market to match local buyers’ tastes and preferences or whether
to pursue a strategy of offering a mostly standardized product worldwide.
3. The tension between the market pressures to localize a company’s product offerings country by country
and the competitive pressures to lower costs is one of the big strategic issues that participants in foreign
markets have to resolve.
III. Strategy Options for Entering and Competing in Foreign Markets
ACTIVITY
1. There are five primary strategic options for a company that decides to expand outside its domestic
market and compete internationally or globally:
a. Maintain a home-country production base and export goods to foreign markets.
b. License foreign firms to produce and distribute the company’s products.
c. Employ a franchising strategy in foreign markets.
d. Establish a subsidiary in a foreign market.
e. Rely on strategic alliances or joint ventures with foreign companies.
A. Export Strategies
1. Using domestic plants as a production base for exporting goods to foreign markets is an excellent initial
strategy for pursuing international sales.
2. With an export strategy, a manufacturer can limit its involvement in foreign markets by contracting with
foreign wholesalers experienced in importing to handle the entire distribution and marketing function in
their countries or regions of the world.
3. Whether an export strategy can be pursued successfully over the long run hinges on the relative cost-
competitiveness of the home-country production base.
4. An export strategy is vulnerable when:
a. Manufacturing costs in the home country are substantially higher than in foreign countries where
rivals have plants
b. The costs of shipping the product to distant foreign markets are relatively high
c. Adverse fluctuations occur in currency exchange rates
d. Importing countries impose tariffs or erect other trade barriers.
B. Licensing Strategies
1. Licensing makes sense when a firm with valuable technical know-how or a unique patented product has
neither the internal organizational capability nor the resources to enter foreign markets.
2. Licensing also has the advantage of avoiding the risks of committing resources to country markets that
are unfamiliar, politically volatile, economically unstable, or otherwise risky.
3. The big disadvantage of licensing is the risk of providing valuable technological know-how to foreign
companies and thereby losing some degree of control over its use.
C. Franchising Strategies
1. Franchising is often better suited to the global expansion efforts of service and retailing enterprises and
has much the same advantages as licensing.
2. The franchisee bears most of the costs and risks of establishing foreign locations while the franchisor
has to expend only the resources to recruit, train, support, and monitor franchisees.
3. The big problem a franchisor faces is maintaining quality control.
4. Another issue that may arise is whether to allow foreign franchisees to make modifications in the
franchisor’s product offerings so as to better satisfy the tastes and expectations of local buyers.
D. Foreign Subsidiary Strategies
1. Companies pursuing international expansion may elect to take responsibility for the performance of all
essential value chain activities in foreign markets.
2. Companies that prefer direct control over all aspects of operating in a foreign market can establish a
wholly owned subsidiary
a. Acquisition—quicker option and might be the least risky and cost effective means of entry
b. Internal Development—requires experience and strong global position
c. A subsidiary business that is established by setting up the entire operation from the ground up is
called an internal startup or a greenfield venture.
CORE CONCEPT
A greenfield venture (or internal startup) is a subsidiary business that is established by
setting up the entire operation from the ground up.
3. A significant issue an acquisition-minded firm must consider is whether to pay a premium price for a
successful local company or to buy a struggling competitor at a bargain price.
4. Four other conditions make an internal startup strategy appealing:
a. When creating an internal startup is cheaper than making an acquisition.
b. When adding new production capacity will not adversely impact the supply–demand balance in the
local market.
c. When a startup subsidiary has the ability to gain good distribution access (perhaps because of the
company’s recognized brand name).
d. When a startup subsidiary will have the size, cost structure, and resource strengths to compete head-
to-head against local rivals.
E. Alliances and Joint Venture Strategies
1. Strategic alliances, joint ventures, and other cooperative agreements with foreign companies are a
widely used means of entering foreign markets
2. The strategic appeal of cooperative arrangements between domestic and foreign companies:
a. Firms can benefit immensely from a foreign partner’s familiarity with local government regulations,
its knowledge of the buying habits and product preferences of consumers, its distribution channel
relationships, and so on.
b. By joining forces in producing components, assembling models, and marketing their products,
firms can realize cost savings not achievable with their own small volumes.
c. Firms can share distribution facilities and dealer networks, and to mutually strengthen each partner’s
access to buyers.
d. Firms can benefit from the learning and added expertise that comes from performing joint research,
sharing technological know-how, studying one another’s manufacturing methods, and understanding
how to tailor sales and marketing approaches to fit local cultures and traditions.
e. Firms can direct their competitive energies more toward mutual rivals and less toward one another;
teaming up may help them close the gap on leading companies.
f. Alliances can be a particularly useful way for firms across the world to gain agreement on important
technical standards.
3. Illustration Capsule 7.1 shows how Walgreens pursued an Alliance-based strategy with Alliance Boots
in order to facilitate its expansion abroad.
ILLUSTRATION CAPSULE 7.1
Walgreens Boots Alliance, Inc.: Entering Foreign Markets via Alliance

Followed by Merger
Discussion Question: How did Walgreens use its alliance with Boots Alliance to gain sustainable
global competitive advantage?
Answer: The student should note that the two companies have complementary rather than
competitive assets and expertise. Walgreens is dominantly a US retail seller while Boots Alliance is a
European retail and wholesale seller. The alliance gave Walgreens a swift entry into foreign markets
by leveraging the global footprint of Boots Alliance with 3,300 stores across 10 countries. They were
also able to spread into the related field of wholesale drug sales via Boots Alliance’s large European
distribution network for wholesale drugs.
The student should also note that the success of the alliance let to the acquisition of Boots Alliance
by Walgreens, and that the resulting global company gained significant price negotiating power in
addition to growing global revenue and market share. This had the net effect of greatly increasing
revenue while reducing overall costs thereby producing sustainable global competitive advantage.
4. The Risks of Strategic Alliances with Foreign Partners—Alliances and joint ventures with foreign
partners have their pitfalls.
a. Sometimes the knowledge and expertise of local partners turns out to be less valuable than expected.
b. Cross-border allies typically must overcome language and cultural barriers and figure out how to
deal with diverse (or perhaps conflicting) operating practices.
c. The communication, trust building, and coordination costs are not trivial in terms of management
time.
d. Partners can discover they have conflicting objectives and strategies, deep differences of opinion
about how to proceed, or important differences in corporate values and ethical standards.
e. Even if the alliance proves to be a win–win proposition for both parties, there is the danger of
becoming overly dependent on foreign partners for essential expertise and competitive capabilities.
IV. International Strategy: The three main strategic approaches
ACTIVITY
1. Companies must choose whether to vary the competitive approach to fit specific market conditions and
buyer preferences in each country or to employ essentially the same strategy in all countries.
2. Figure 7.2, Three Approaches for Competing Internationally illustrates the two main drivers for this
choice.
3. As a company expands internationally, it will have to confront head-on two conflicting pressures:
the demand for responsiveness to local needs versus the prospect of efficiency gains from offering a
standardized product globally.
CORE CONCEPT
An international strategy is a strategy for competing in two or more countries
simultaneously.
A. Multi-domestic Strategy—Think Local, Act Local
1. The bigger the differences in buyer tastes, cultural traditions, and marker conditions in different countries,
the stronger the case for a think-local, act-local approach to strategy making.
2. The strength of this approach is that the company’s actions and business approach are deliberately
crafted to accommodate differing tastes and expectations of buyers in each country and to stake out the
most attractive market positions vis-a-vis local competitors.
CORE CONCEPT
A multidomestic strategy is one in which a company varies its product offering
an competitive approach from country to country in an effort to be responsive to
differing buyer preferences and market conditions. It is a think-local, act-local type of
international strategy facilitated by decision making decentralized to the local level.
3. There are three main disadvantages to this strategic choice:
a. Hinders the transfer of company capabilities, knowledge, and other resources across borders.
b. Raises production and distribution costs.
c. Is not conducive to building a single worldwide competitive advantage.
B. Global Strategy—Think-Global, Act-Global
1. A global strategy sells the same products under the same brand names everywhere, uses much of the
same distribution channels in all countries, and competes on the basis of the same capabilities and
marketing approaches worldwide.
CORE CONCEPT
A global strategy is one in which a company employs the same basic competitive
approach in all countries where it operates, sells much the same products everywhere,
strives to build global brands, and coordinates its actions worldwide with strong
headquarters control. It represents a think-global, act global approach.
2. This strategic theme prompts company managers to integrate and coordinate the company’s strategic
moves worldwide and to expand into most if not all nations where there is significant buyer demand.
3. There are four main disadvantages to this approach:
a. Does not enable firms to address local needs.
b. Is less responsive to changes in local market conditions.
c. Raises transportation costs and may involve higher tariffs.
d. Raises coordination costs.
C. Transnational Strategy—Think-Global, Act-Local
1. This middle-ground approach sometimes called ‘glocalization’ entails using the same basic competitive
theme in each country but allowing local managers the latitude:
a. Incorporate whatever country-specific variations in product attributes are needed to best satisfy
local buyers
b. Make whatever adjustments in production, distribution, and marketing are needed to be responsive
to local market conditions and compete successfully against local rivals.
CORE CONCEPT
A transnational strategy is a think-global, act local approach that incorporates elements
of both multidomestic and global strategies.
2. While a transnational strategy is more conducive for transferring and leveraging subsidiary skills and
capabilities, it can have significant drawbacks:
a. It is the most difficult to implement due to added complexity
b. It can place demands on the organization to pursue conflicting objectives.
c. It is likely to be costly and time consuming to implement.

3. Table 7.1, Advantages and Disadvantages of Multidomestic, Global, and Transnational Approaches
provides a summary of the pros and cons of each approach.
Four Seasons Hotels: Local Character, Global Service

Discussion Question: How has Four Seasons Hotels operationalized a Transnational Strategy in
order to gain competitive advantage in the global high-end hotel industry?
Answer: By combining local architectural and cultural experiences with globally consistent luxury
service. When moving into a new area, the firm seeks out a local capital partner with understanding
of the local customs and business relationships. The firm then hires local architects and structures
the interior spaces to match the needs of local customers. To maintain a local touch, the firm hires
local workers that understand the unique needs of local customers to complement experienced
global hotel staff. Finally, the firm supports all of this with globally based best practices for service
and administrative support.
ACTIVITY
Consider adding a File Attachment assignment requiring the student to fully explore and explain how
the company operationalized a Transnational strategy to gain competitive advantage. Ask the student
to describe areas where the company leveraged global scale economies as well as areas where
the company leveraged national responsiveness. You can send the student to the following links to
supplement the information in the Illustration Capsule:
http://press.fourseasons.com/corporate
http://jobs.fourseasons.com/home/working-at-fs/corporate-office
V. International Operations and the Quest for Competitive Advantage in the International Arena
ACTIVITY
1. There are three ways in which a firm can gain competitive advantage or offset domestic disadvantages
by expanding outside its domestic markets:
a. Use location to lower costs or achieve greater product differentiation
b. Transfer competitively valuable competencies and capabilities from its domestic markets to foreign
markets
c. Use cross-border coordination in ways that a domestic-only competitor cannot
A. Using Location to Build Competitive Advantage
1. Companies that compete multi-nationally can pursue competitive advantages in world markets by
locating their value chain activities in whatever nations prove most advantageous. To use location to
build competitive advantage, a company must consider two issues:
a. Whether to concentrate each activity it performs in a few select countries or to disperse per¬formance
of the activity to many nations
b. In which countries to locate particular activities

2. When to Concentrate Activities in a Few Locations
a. When the costs of manufacturing or other activities are significantly lower in some geographic
locations than in others
b. When there are significant scale economies in production or distribution
c. There are sizable learning and experience benefits associated with performing an activity in a single
location.
d. When certain locations have superior resources, allow better coordination of related activities, or
offer other valuable advantages
3. When to Disperse Activities Across Many Locations
a. Buyer-related activities—such as distribution, marketing, and after-sale service—usually must take

place close to buyers.
b. Dispersing activities helps hedge against the risks of fluctuating exchange rates, supply -interruptions,
and adverse political developments.
B. Sharing and Transferring Resources and Capabilities across Borders to Build Competitive Advantage
1. If the firm’s resources retain their value in foreign contexts, then entering new foreign markets can
extend the company’s resource-based competitive advantage over a broader domain.
2. The firm can extend its competitive advantage internationally by transferring technological know-how
or other important resources and capabilities from its operations in one country to its operations in other
countries.
3. Cross-border sharing or transferring resources and capabilities provides a cost-effective way for a
company to leverage its core competencies more fully and extend its competitive advantages into a
wider array of geographic markets.
4. Sharing and transferring resources and capabilities across country borders may also contribute to the
development of broader or deeper competencies and capabilities
C. Benefiting from Cross-Border Coordination
1. Companies that compete on an international basis have another source of competitive advantage relative
to their purely domestic rivals:
a. They are able to benefit from coordinating activities across different countries’ domains.
b. They can enhance their leverage with host-country governments or respond adaptively to changes
in tariffs and quotas.
c. They can achieve efficiencies by shifting workloads from where they are unusually heavy to
locations where personnel are underutilized.
VI. Cross-Border Strategic Moves
ACTIVITY
1. Waging a Strategic Offensive
a. The international company has the flexibility of lowballing its prices or launching high-cost
marketing campaigns in the domestic company’s home market and grabbing market share at the
domestic company’s expense.
b. The thin margins or even losses in these markets can be subsidized with the healthy profits d in its
markets abroad—a practice called cross-market subsidization.
CORE CONCEPT
Cross-market subsidization—supporting competitive offensives in one market with
resources and profits diverted from operations in another market—can be a powerful
competitive weapon.
c. This is very different than dumping which is it sells its goods in foreign markets at prices that are
well below the prices at which it normally sells them in its home market or well below its full costs
per unit.
d. Most governments will take action against this practice.
2. Defending against International Rivals
a. If a company finds itself under competitive attack by an international rival in one country market,
one way to respond is to conduct a counterattack against the rival in one of its key markets in a
different country.
b. For companies with at least one major market, having a presence in a rival’s key markets can be
enough to deter the rival from making aggressive attacks.
CORE CONCEPT
When the same companies compete against one another in multiple geographic
markets, the threat of cross-border counterattacks may be enough to encourage
mutual restraint among international rivals.
VII. Strategies for Competing in the Markets of Developing Countries
ACTIVITY
1. Companies racing for global leadership have to consider competing in developing economy markets
like China, India, Brazil, Indonesia, Thailand, Poland, Mexico, and Russia.
2. Tailoring products to fit market conditions in developing countries, however, often involves more than
making minor product changes and becoming more familiar with local cultures.
3. Strategy Options for Developing Country Markets:
a. Prepare to compete on the basis of low price.
b. Modify aspects of the company’s business model or strategy to accommodate local circumstances
(but not so much that the company loses the advantage of global scale and global branding).
c. Try to change the local market to better match the way the company does business elsewhere.
d. Stay away from developing markets where it is impractical or uneconomic to modify the company’s
business model to accommodate local circumstances.
4. Profitability in emerging markets rarely comes quickly or easily—new entrants have to adapt their
business models and strategies to local conditions which may not always be possible.
VIII. Defending against Global Giants: Strategies for Local Companies in Emerging Markets
ACTIVITY
1. Local firms must be able to defend themselves against resource rich multinational companies.
2. Studies of local companies in developing markets have disclosed five successful strategies:
a. Develop business models that exploit shortcomings in local distribution networks or infrastructure.
b. Utilize keen understanding of local customer needs and preferences to create customized products
or services.
c. Take advantage of aspects of the local workforce with which large multinational companies may be
unfamiliar.
d. Use acquisition and rapid growth strategies to better defend against expansion-minded multinationals.
e. Transfer company expertise to cross-border markets and initiate actions to contend on a global
level.
3. Illustration Capsule 7.3 discusses how a social media company in China defends against social media
giants.
WeChat’s Strategy for Defending against International Social Media

Giants in China
Discussion Question: How did WeChat use a combination of the above five strategies to become
the largest travel consolidator and online travel agent.
Answer: The student should highlight that WeChat had a better understanding of customer’s needs
and anticipated its desires which allowed it to add features that gave the company an advantage in
the Chinese market. It also had a better understanding of local customs and culture which allowed
it to target promotions in ways that the international rivals would not have thought of. These local
advantages combined with the company’s continuous development strategy have worked well in
maintaining competitive advantage in the Chinese market.
ACTIVITY
Use the Question Bank to build a quiz for the chapter to measure and reinforce learning. Consider
using the questions you select to build a comprehensive mid-term and final exam for the course. The
assignment can be graded and posted automatically.
ASSURANCE OF LEARNING EXERCISES

1. L’Oréal markets 32 brands of cosmetics, fragrances, and hair care products in 130 countries. The company’s
international strategy involves manufacturing these products in 40 plants located around the world. L’Oréal’s
international strategy is discussed in its operations section of the company’s website (careers.loreal.com/en/
operations) and in its press releases, annual reports, and presentations.
Why has the company chosen to pursue a foreign subsidiary strategy?
Are there strategic advantages to global sourcing and production in the cosmetics, fragrances, and hair care
products industry relative to an export strategy?
Response:
In reviewing the 2015 annual report, the student should identify that L’Oreal operates in key markets
including North America, Latin America, Eastern Europe, Western Europe, and Africa/ Middle East. The
company has shown growth in each of these key markets due to its ability to target brands as well as
marketing/sales strategies to each unique area. This can only be effectively accomplished with a nationally
responsive structure such as a foreign subsidiary structure.
The student should also identify that there are significant advantages to global sourcing and production in
this industry. In the Operations section of the 2015 Annual Report, the company discusses the importance
of Product Development, Local Sourcing, Innovative Manufacturing, and Supply Chain Efficiency. By
managing these on a global scale, the company is able to increase effectiveness and efficiency. This advantage
can be extended to specific products such as the World Brands identified in the 2015 Annual Report. With
this mix of products the company is leveraging economies of scale and economies of scope.
Taken together, the student might propose that L’Oreal is pursuing a Transnational strategy which combines
advantages through globalization with advantages through national responsiveness.
2. Alliances, joint ventures, and mergers with foreign companies are widely used as a means of entering foreign
markets. Such arrangements have many purposes, including learning about unfamiliar environments, and
the opportunity to access the complementary resources and capabilities of a foreign partner. Illustration
Capsule 7.1 provides an example of how Walgreens used a strategy of entering foreign markets via alliance,
followed by a merger with the same entity.
What was this entry strategy designed to achieve, and why would this make sense for a company like
Walgreens?
ACTIVITY
This Assurance of Learning exercise is available as a Connect Assignment. The assignment can be
graded and posted automatically.
Response:
The student should identify that the strategy was designed to achieve global competitive advantage. The two
companies have complementary rather than competitive assets and expertise in that Walgreens is dominantly
a US retail seller while Boots Alliance is a European retail and wholesale seller. The alliance gave Walgreens
a swift entry into foreign markets by leveraging the global footprint of Boots Alliance with 3,300 stores
across 10 countries. They were also able to spread into the related field of wholesale drug sales via Boots
Alliance’s large European distribution network for wholesale drugs.
The student should also note that the success of the alliance let to the acquisition of Boots Alliance by
Walgreens, and that the resulting global company gained significant price negotiating power in addition
to growing global revenue and market share. This had the net effect of greatly increasing revenue while
reducing overall costs thereby producing sustainable global competitive advantage.
3. Assume you are in charge of developing the strategy for a multinational company selling products in
some 50 countries around the world. One of the issues you face is whether to employ a multi-domestic, a
transnational, or a global strategy.
a. If your company’s product is mobile phones, which of these strategies do you think it would make better
strategic sense to employ? Why?
b. If your company’s product is dry soup mixes and canned soups, would a multi-domestic strategy seem
to be more advisable than a transnational or global strategy? Why?
c. If your company’s product is large home appliances such as washing machines, ranges, ovens, and
refrigerators, would it seem to make more sense to pursue a multi-domestic strategy or a transnational
strategy or a global strategy? Why?
ACTIVITY
This Assurance of Learning exercise is available as a Connect Assignment. The assignment can be
graded and posted automatically.
Response:
All student responses will be contingent on their understanding of multi-domestic, global, and transnational
strategies. Students should reference information from Figure 7.1 to support and validate their chosen
viewpoints. All responses should be supported with rational information gleaned from the text material
differentiating the three strategies.
The student’s responses should be based upon the following three overviews:
A multi-domestic strategy is essential when there are significant country-to-country differences in customer
preferences and buying habits, when there are significant cross-country differences in distribution channels
and marketing methods, when host governments enact regulations requiring that products sold locally
meet strict manufacturing specifications or performance standards, and when the trade restrictions of host
governments are so diverse and complicated that they preclude a uniform, coordinated worldwide market
approach. Packaged food and appliances might fit well here.
A global strategy is one in which the company’s approach is predominantly the same in all Countries and
it sells the same products under the same brand names everywhere. It utilizes much the same distribution
channels in all countries, and competes on the basis of the same capabilities and marketing approaches
worldwide. — Cell Phones might fit well here.
A transnational strategy accommodates cross-country variations in buyer tastes, local customs, and market
conditions while also striving for the benefits of standardization. This middle-ground approach entails
utilizing the same basic competitive theme (low-cost, differentiation, or focused) in each country but allows
local managers the latitude to (1) incorporate whatever country-specific variations in product attributes
are needed to best satisfy local buyers and (2) make whatever adjustments in production, distribution, and
marketing are needed to respond to local market conditions and compete successfully against local rivals.
Packaged food and appliances might also fit well here.
4. Using your university library’s business research resources and Internet sources, identify and discuss three
key strategies that General Motors is using to compete in China.
Response:
The student should identify several key initiatives that Volkswagen has undertaken in the Chinese market.
These could include:
The company is partnered with SAIC in China and develops a combination of local and imported brands for
the Chinese market including Baojun, Chevrolet, Buick, and Cadillac.
They have shifted the focus of their Buick brand on fuel efficiency to target Chinese consumers.
They have made a strategic commitment to the development and production of alternative fuel vehicles
ranging from hybrids to fully electric vehicles. To support this effort they are opening a battery assembly
plant in Shanghai.
Another random document with
no related content on Scribd:
Though now their acts be no where to be found,
As that renowmed Poet them compyled,
With warlike numbers and Heroicke sound,
Dan Chaucer, well of English vndefyled,
On Fames eternall beadroll worthie to be fyled.
But wicked Time that all good thoughts doth waste, xxxiii
And workes of noblest wits to nought out weare,
That famous moniment hath quite defaste,
And robd the world of threasure endlesse deare,
The which mote haue enriched all vs heare.
O cursed Eld the cankerworme of writs,
How may these rimes, so rude as doth appeare,
Hope to endure, sith workes of heauenly wits
Are quite deuourd, and brought to nought by little bits?
Then pardon, O most sacred happie spirit, xxxiv

That I thy labours lost may thus reuiue,
And steale from thee the meede of thy due merit,
That none durst euer whilest thou wast aliue,
And being dead in vaine yet many striue:
Ne dare I like, but through infusion sweete
Of thine owne spirit, which doth in me surviue,
I follow here the footing of thy feete,
That with thy meaning so I may the rather meete.
Cambelloes sister was fayre Canacee, xxxv

That was the learnedst Ladie in her dayes,
Well seene in euerie science that mote bee,
And euery secret worke of natures wayes,
In wittie riddles, and in wise soothsayes,
In power of herbes, and tunes of beasts and burds;
And, that augmented all her other prayse,
She modest was in all her deedes and words,
And wondrous chast of life, yet lou’d of Knights and Lords.
Full many Lords, and many Knights her loued, xxxvi

Yet she to none of them her liking lent,
Ne euer was with fond affection moued,
But rul’d her thoughts with goodly gouernement,
For dread of blame and honours blemishment;
And eke vnto her lookes a law she made,
That none of them once out of order went,
But like to warie Centonels well stayd,
Still watcht on euery side, of secret foes affrayd.
So much the more as she refusd to loue, xxxvii

So much the more she loued was and sought,
That oftentimes vnquiet strife did moue
Amongst her louers, and great quarrels wrought,
That oft for her in bloudie armes they fought.
Which whenas Cambell, that was stout and wise,
Perceiu’d would breede great mischiefe, he bethought
How to preuent the perill that mote rise,
And turne both him and her to honour in this wise.
One day, when all that troupe of warlike wooers xxxviii

Assembled were, to weet whose she should bee,
All mightie men and dreadfull derring dooers,
(The harder it to make them well agree)
Amongst them all this end he did decree;
That of them all, which loue to her did make,
They by consent should chose[39] the stoutest three,
That with himselfe should combat for her sake,
And of them all the victour should his sister take.
Bold was the chalenge, as himselfe was bold, xxxix

And courage full of haughtie hardiment,
Approued oft in perils manifold,
Which he atchieu’d to his great ornament:
But yet his sisters skill vnto him lent
Most confidence and hope of happie speed,
Concerned by a ring, which she him sent,
That mongst the manie vertues, which we reed,
Had power to staunch al wounds, that mortally did bleed.
Well was that rings great vertue knowen to all, xl
That dread thereof, and his redoubted might
Did all that youthly rout so much appall,
That none of them durst vndertake the fight;
More wise they weend to make of loue delight,
Then life to hazard for faire Ladies looke,
And yet vncertaine by such outward sight,
Though for her sake they all that perill tooke,
Whether she would them loue, or in her liking brooke.
Amongst those knights there were three brethren bold, xli

Three bolder brethren neuer were yborne,
Borne of one mother in one happie mold,
Borne at one burden in one happie morne,
Thrise happie mother, and thrise happie morne,
That bore three such, three such not to be fond;
Her name was Agape whose children werne
All three as one, the first hight Priamond,
The second Dyamond, the youngest Triamond.
Stout Priamond but not so strong to strike, xlii

Strong Diamond, but not so stout a knight,
But Triamond was stout and strong alike:
On horsebacke vsed Triamond to fight,
And Priamond on foote had more delight,
But horse and foote knew Diamond to wield:
With curtaxe vsed Diamond to smite,
And Triamond to handle speare and shield,
But speare and curtaxe both vsd Priamond in field.
These three did loue each other dearely well, xliii

And with so firme affection were allyde,
As if but one soule in them all did dwell,
Which did her powre into three parts diuyde;
Like three faire branches budding farre and wide,
That from one roote deriu’d their vitall sap:
And like that roote that doth her life diuide,
Their mother was, and had full blessed hap,
These three so noble babes to bring forth at one clap.
Their mother was a Fay, and had the skill xliv

Of secret things, and all the powres of nature,
Which she by art could vse vnto her will,
And to her seruice bind each liuing creature,[40]
Through secret vnderstanding of their feature.
Thereto she was right faire, when so her face
She list discouer, and of goodly stature;
But she as Fayes are wont, in priuie place
Did spend her dayes, and lov’d in forests wyld to space.
There on a day a noble youthly knight xlv

Seeking aduentures in the saluage wood,
Did by great fortune get of her the sight,[41]
As she sate carelesse by a cristall flood,
Combing her golden lockes, as seemd her good:
And vnawares vpon her laying hold,
That stroue in vaine him long to haue withstood,
Oppressed her, and there (as it is told)
Got these three louely babes, that prov’d three champions bold.
Which she with her long fostred in that wood, xlvi

Till that to ripenesse of mans state they grew:
Then shewing forth signes of their fathers blood,
They loued armes, and knighthood did ensew,
Seeking aduentures, where they anie knew.
Which when their mother saw, she gan to dout
Their safetie, least by searching daungers new,
And rash prouoking perils all about,
Their days mote be abridged through[42] their corage stout.
Therefore desirous th’end of all their dayes xlvii

To know, and them t’enlarge with long extent,
By wondrous skill, and many hidden wayes,
To the three fatall sisters house she went.
Farre vnder ground from tract of liuing went,
Downe in the bottome of the deepe Abysse,
Where Demogorgon in dull darknesse pent,
Farre from the view of Gods and heauens blis,
The hideous Chaos keepes, their dreadfull dwelling is.
There she them found, all sitting round about xlviii

The direfull distaffe standing in the mid,
And with vnwearied fingers drawing out
The lines of life, from liuing knowledge hid.
Sad Clotho held the rocke, the whiles the thrid
By griesly Lachesis was spun with paine,
That cruell Atropos eftsoones vndid,
With cursed knife cutting the twist in twaine:
Most wretched men, whose dayes depend on thrids so vaine.
She them saluting, there by them sate still, xlix

Beholding how the thrids of life they span:
And when at last she had beheld her fill,
Trembling in heart, and looking pale and wan,
Her cause of comming she to tell began.
To whom fierce Atropos, Bold Fay, that durst
Come see the secret of the life of man,
Well worthie[43] thou to be of Ioue accurst,
And eke thy childrens thrids to be a sunder burst.
Whereat she sore affrayd, yet her besought l

To graunt her boone, and rigour to abate,
That she might see her childrens thrids forth brought,
And know the measure of their vtmost date,
To them ordained by eternall fate.
Which Clotho graunting, shewed her the same:
That when she saw, it did her much amate,
To see their thrids so thin, as spiders frame,
And eke so short, that seemd their ends out shortly came.
She then began them humbly to intreate, li

To draw them longer out, and better twine,
That so their liues might be prolonged late.
But Lachesis thereat gan to repine,
And sayd, Fond[44] dame that deem’st of things diuine
As of humane, that they may altred bee,
And chaung’d at pleasure for those impes of thine.
Not so; for what the Fates do once decree,
Not all the gods can chaunge, nor Ioue him self can free.
Then since[45] (quoth she) the terme of each mans life lii
For nought may lessened nor enlarged bee,
Graunt this, that when ye shred with fatall knife
His line, which is the eldest of the three,
Which is of them the shortest, as I see,
Eftsoones his life may passe into the next;
And when the next shall likewise ended bee,
That both their liues may likewise be annext
Vnto the third, that his may so be trebly wext.
They graunted it; and then that carefull Fay liii

Departed thence with full contented mynd;
And comming home, in warlike fresh aray
Them found all three according to their kynd:
But vnto them what destinie was assynd,
Or how their liues were eekt, she did not tell;
But euermore, when she fit time could fynd,
She warned them to tend their safeties well,
And loue each other deare, what euer them befell.
So did they surely during all their dayes, liv

And neuer discord did amongst them fall;
Which much augmented all their other praise.
And now t’increase affection naturall,
In loue of Canacee they ioyned all:
Vpon which ground this same great battell grew,
Great matter growing of beginning small;
The which for length I will not here pursew,
But rather will reserue it for a Canto new.
FOOTNOTES:
[22] iii 5 As] And 1609
[23] vi 8 torne 1596
[24] x 4 draft, 1596, 1609
[25] xiii 2 day by day, 1596
[26] xvii 1 amaze; 1596 &c.
[27] 2 dreme, 1596 &c.
[28] xviii 7 breathe 1609
[29] xxi 7 known 1609
[30] xxii 2 Florimell, 1596
[31] 4 tell, 1596
[32] 7 avising 1609
[33] xxiii 6 late, 1596
[34] 8 state, 1596
[35] xxv 1 count’nance 1609
[36] xxvii 5 Sith 1609
[37] xxx 1 disguise, 1596
[38] xxxii 3 draddest 1609
[39] xxxviii 7 chuse 1609
[40] xliv 4 creature: 1596
[41] xlv 3 sight; 1596
[42] xlvi 9 throgh 1609
[43] xlix 8 woorthy 1609
[44] li 5 fond 1596
[45] lii 1 since] sith 1609
Cant. III.
The battell twixt three brethren with

Cambell for Canacee:[46]
Cambina with true friendships bond
doth their long strife agree.
O Why doe wretched men so much desire, i

To draw their dayes vnto the vtmost date,
And doe not rather wish them soone expire,
Knowing the miserie of their estate,
And thousand perills which them still awate,
Tossing them like a boate amid the mayne,
That euery houre they knocke at deathes gate?
And he that happie seemes and least in payne,
Yet is as nigh his end, as he that most doth playne.
Therefore this Fay I hold but fond and vaine, ii

The which in seeking for her children three
Long life, thereby did more prolong their paine.
Yet whilest they liued none did euer see
More happie creatures, then they seem’d to bee,
Nor more ennobled for their courtesie,
That made them dearely lou’d of each degree;
Ne more renowmed for their cheualrie,
That made them dreaded much of all men farre and nie.
These three that hardie chalenge tooke in hand, iii

For Canacee with Cambell for to fight:
The day was set, that all might vnderstand,
And pledges pawnd the same to keepe a right,
That day, the dreddest day that liuing wight
Did euer see vpon this world to shine,
So soone as heauens window shewed light,
These warlike Champions all in armour shine,
Assembled were in field, the chalenge to define.
The field with listes was all about enclos’d, iv

To barre the prease of people farre away;
And at th’one side sixe iudges were dispos’d,
To view and deeme the deedes of armes that day;
And on the other side in fresh aray,
Fayre Canacee vpon a stately stage
Was set, to see the fortune of that fray,
And to be seene, as his most worthie wage,
That could her purchase with his liues aduentur’d gage.
Then entred Cambell first into the list, v

With stately steps, and fearelesse countenance,
As if the conquest his he surely wist.
Soone after did the brethren three aduance,
In braue aray and goodly amenance,
With scutchins gilt and banners broad displayd:
And marching thrise in warlike ordinance,
Thrise lowted lowly to the noble Mayd,
The whiles shril trompets and loud clarions sweetly playd.
Which doen the doughty chalenger came forth, vi

All arm’d to point his chalenge to abet:
Gainst whom Sir Priamond with equall worth,[47]
And equall armes himselfe did forward set.
A trompet blew; they both together met,
With dreadfull force, and furious intent,
Carelesse of perill in their fiers affret,
As if that life to losse they had forelent,
And cared not to spare, that should be shortly spent.
Right practicke was Sir Priamond in fight, vii

And throughly skild in vse of shield and speare;
Ne lesse approued was Cambelloes might,
Ne lesse his skill[48] in weapons did appeare,
That hard it was to weene which harder were.
Full many mightie strokes on either side
Were sent, that seemed death in them to beare,
But they were both so watchfull and well eyde,
That they auoyded were, and vainely by did slyde.
Yet one of many was so strongly bent viii

By Priamond, that with vnluckie glaunce
Through Cambels shoulder it vnwarely went,
That forced him his shield to disaduaunce:[49]
Much was he grieued with that gracelesse chaunce,
Yet from the wound no drop of bloud there fell,
But wondrous paine, that did the more enhaunce
His haughtie courage to aduengement[50] fell:
Smart daunts not mighty harts, but makes them more to swell.
With that his poynant speare he fierce auentred, ix

With doubled force close vnderneath his shield,
That through the mayles into his thigh it entred,
And there arresting, readie way did yield,
For bloud to gush forth on the grassie field;
That he for paine himselfe n’ote[51] right vpreare,
But too and fro in great amazement reel’d,
Like an old Oke whose pith and sap is seare,
At puffe of[52] euery storme doth stagger here and theare.
Whom so dismayd when Cambell had espide, x

Againe he droue at him with double might,
That nought mote stay the steele, till in his side
The mortall point most cruelly empight:
Where fast infixed, whilest he sought by slight
It forth to wrest, the staffe a sunder brake,
And left the head behind: with which despight
He all enrag’d, his shiuering speare did shake,
And charging him a fresh thus felly him bespake.
Lo faitour there thy meede vnto thee take, xi

The meede of thy mischalenge and abet:
Not for thine owne, but for thy sisters sake,
Haue I thus long thy life vnto thee let:
But to forbeare doth not forgiue the det.
The wicked weapon heard his wrathfull vow,
And passing forth with furious affret,
Pierst through his beuer quite into his brow,
That with the force it backward forced him to bow.
Therewith a sunder in the midst it brast, xii

And in his hand nought but the troncheon left,
The other halfe behind yet sticking fast,
Out of his headpeece Cambell fiercely reft,
And with such furie backe at him it heft,
That making way vnto his dearest life,
His weasand pipe it through his gorget cleft:
Thence streames of purple bloud issuing rife,
Let forth his wearie ghost and made an end of strife.
His wearie ghost assoyld from fleshly band, xiii

Did not as others wont, directly fly
Vnto her rest in Plutoes griesly land,
Ne into ayre did vanish presently,
Ne chaunged was into a starre in sky:
But through traduction was eftsoones deriued,
Like as his mother prayd the Destinie,
Into his other brethren, that suruiued,
In whom he liu’d a new, of former life depriued.
Whom when on ground his brother next beheld, xiv

Though sad and sorie for so heauy sight,
Yet leaue vnto his sorrow did not yeeld,
But rather stird to vengeance and despight,
Through secret feeling of his generous spright,
Rusht fiercely forth, the battell to renew,
As in reuersion of his brothers right;
And chalenging the Virgin as his dew.
His foe was soone addrest: the trompets freshly blew.
With that they both together fiercely met, xv

As if that each ment other to deuoure;
And with their axes both so sorely bet,
That neither plate nor mayle, whereas their powre
They felt, could once sustaine the hideous stowre,
But riued were like rotten wood a sunder,
Whilest through their rifts the ruddie bloud did showre
And fire did flash, like lightning after thunder,
That fild the lookers on attonce with ruth and wonder.
As when two Tygers prickt with hungers rage, xvi

Haue by good fortune found some beasts fresh spoyle,
On which they weene their famine to asswage,
And gaine a feastfull guerdon of their toyle,
Both falling out doe stirre vp strifefull broyle,
And cruell battell twixt themselues doe make,
Whiles neither lets the other touch the soyle,
But either sdeignes with other to partake:
So cruelly these Knights stroue for that Ladies sake.
Full many strokes, that mortally were ment, xvii

The whiles were enterchaunged twixt them two;
Yet they were all with so good wariment
Or warded, or auoyded and let goe,
That still the life stood fearelesse of her foe:
Till Diamond disdeigning long delay
Of doubtfull fortune wauering to and fro,
Resolu’d to end it one or other way;
And heau’d his murdrous axe at him with mighty sway.
The dreadfull stroke in case it had arriued, xviii

Where it was ment, (so deadly it was ment[53])
The soule had sure out of his bodie riued,
And stinted all the strife incontinent.
But Cambels fate that fortune did preuent:
For seeing it at hand, he swaru’d asyde,
And so gaue way vnto his fell intent:
Who missing of the marke which he had eyde,
Was with the force nigh feld whilst his right foot did slyde.
As when a Vulture greedie of his pray, xix

Through hunger long, that hart to him doth lend,
Strikes at an Heron with all his bodies sway,
That from his force seemes nought may it defend;
The warie fowle that spies him toward bend[54]
His dreadfull souse, auoydes it[55] shunning light,
And maketh him his wing in vaine to spend;
That with the weight of his owne weeldlesse might,
He falleth nigh to ground, and scarse recouereth flight.
Which faire adventure when Cambello spide, xx

Full lightly, ere himselfe he could recower[56],
From daungers dread to ward his naked side,
He can let driue at him with all his power,
And with his axe him smote in euill hower,
That from his shoulders quite his head he reft:
The headlesse tronke, as heedlesse of that stower,
Stood still a while, and his fast footing kept,
Till feeling life to fayle, it fell, and deadly slept.
They which that piteous spectacle beheld, xxi

Were much amaz’d the headlesse tronke to see
Stand vp so long, and weapon vaine to weld,
Vnweeting of the Fates diuine decree,
For lifes succession in those brethren three.
For notwithstanding that one soule was reft,
Yet, had the bodie not dismembred bee,
It would haue liued, and reuiued eft;
But finding no fit seat, the lifelesse corse it left.
It left; but that same soule, which therein dwelt, xxii

Streight entring into Triamond, him fild
With double life, and griefe, which when he felt,
As one whose inner parts had bene ythrild
With point of steele, that close his hartbloud spild,
He lightly lept out of his place of rest,
And rushing forth into the emptie field,
Against Cambello fiercely him addrest;
Who him affronting soone to fight was readie prest.
Well mote ye wonder how that noble Knight, xxiii

After he had so often wounded beene,
Could stand on foot, now to renew the fight.
But had ye then him forth aduauncing seene,
Some newborne wight ye would him surely weene:
So fresh he seemed and so fierce in sight;
Like as a Snake, whom wearie winters teene[57]
Hath worne to nought, now feeling sommers might,
Casts off his ragged skin and freshly doth him dight.
All was through vertue of the ring he wore, xxiv

The which not onely did not from him let
One drop of bloud to fall, but did restore
His weakned powers, and dulled spirits whet,
Through working of the stone therein yset.
Else how could one of equall might with most,
Against so many no lesse mightie met,
Once thinke to match three such on equall cost,
Three such as able were to match a puissant host.
Yet nought thereof was Triamond adredde, xxv
Ne desperate of glorious victorie,
But sharpely him assayld, and sore bestedde,
With heapes of strokes, which he at him let flie,
As thicke as hayle forth poured from the skie:
He stroke[58], he soust, he foynd, he hewd, he lasht,
And did his yron brond so fast applie,
That from the same the fierie sparkles flasht,
As fast as water-sprinkles gainst a rocke are dasht.
Much was Cambello daunted with his blowes.[59] xxvi

So thicke they fell, and forcibly were sent,
That he was forst from daunger of the throwes
Backe to retire, and somewhat to relent,
Till th’heat of his fierce furie he had spent:
Which when for want of breath gan to abate,
He then afresh with new encouragement
Did him assayle, and mightily amate,
As fast as forward erst, now backward to retrate.
Like as the tide that comes fro th’Ocean mayne, xxvii

Flowes vp the Shenan with contrarie forse,
And ouerruling him in his owne rayne,
Driues backe the current of his kindly course,
And makes it seeme to haue some other sourse:
But when the floud is spent, then backe againe
His borrowed waters forst to redisbourse,
He sends the sea his owne with double gaine,
And tribute eke withall, as to his Soueraine.
Thus did the battell varie to and fro, xxviii

With diuerse fortune doubtfull to be deemed:
Now this the better had, now had his fo;
Then he halfe vanquisht, then the other seemed,
Yet victors both them selues alwayes esteemed.
And all the while the disentrayled blood
Adowne their sides like litle riuers stremed,
That with the wasting of his vitall flood,
Sir Triamond at last full faint and feeble stood.
But Cambell still more strong and greater grew, xxix

Ne felt his blood to wast[60], ne powres emperisht,
Through that rings vertue, that with vigour new,
Still when as he enfeebled was, him cherisht,
And all his wounds, and all his bruses guarisht,
Like as a withered tree through husbands toyle
Is often seene full freshly to haue florisht,
And fruitfull apples to haue borne awhile,
As fresh as when it first was planted in the soyle.
Through which aduantage, in his strength he rose, xxx

And smote the other with so wondrous might,
That through the seame, which did his hauberk close,
Into his throate and life it pierced quight,
That downe he fell as dead in all mens sight:
Yet dead he was not, yet he sure did die,
As all men do, that lose the liuing spright:
So did one soule out of his bodie flie
Vnto her natiue home from mortall miserie.
But nathelesse whilst all the lookers on xxxi

Him dead behight, as he to all appeard,
All vnawares he started vp anon,
As one that had out of a dreame bene reard,
And fresh assayld his foe, who halfe affeard
Of th’vncouth sight, as he some ghost had seene,
Stood still amaz’d, holding his idle sweard;
Till hauing often by him stricken beene,
He forced was to strike, and saue him selfe from teene.
Yet from thenceforth more warily he fought, xxxii

As one in feare the Stygian gods t’offend,
Ne followd on so fast, but rather sought
Him selfe to saue, and daunger to defend,
Then life and labour both in vaine to spend.
Which Triamond perceiuing, weened sure
He gan to faint, toward the battels end,
And that he should not long on foote endure,
A signe which did to him the victorie assure.
Whereof full blith, eftsoones his mightie hand xxxiii

He heav’d on high, in mind with that same blow
To make an end of all that did withstand:
Which Cambell seeing come, was nothing slow
Him selfe to saue from that so deadly throw;
And at that instant reaching forth his sweard[61]
Close vnderneath his shield, that scarce did show,
Stroke him, as he his hand to strike vpreard,
In th’arm-pit full, that through both sides the wound appeard.
Yet still that direfull stroke kept on his way, xxxiv

And falling heauie on Cambelloes crest,
Strooke him so hugely, that in swowne he lay,
And in his head an hideous wound imprest:
And sure had it not happily found rest
Vpon the brim of his brode plated shield,
It would haue cleft his braine downe to his brest.
So both at once fell dead vpon the field,
And each to other seemd the victorie to yield.
Which when as all the lookers on beheld, xxxv

They weened sure the warre was at an end,
And Iudges rose, and Marshals of the field
Broke vp the listes, their armes away to rend;
And Canacee gan wayle her dearest frend.
All suddenly they both vpstarted light,
The one out of the swownd, which him did blend,
The other breathing now another spright,
And fiercely each assayling, gan afresh to fight.
Long while they then continued in that wize, xxxvi

As if but then the battell had begonne:
Strokes, wounds, wards, weapons, all they did despise,
Ne either car’d to ward, or perill shonne,
Desirous both to haue the battell donne;
Ne either cared life to saue or spill,
Ne which of them did winne, ne which were wonne.
So wearie both of fighting had their fill,
That life it selfe seemd loathsome, and long safetie ill.
Whilst thus the case in doubtfull ballance hong, xxxvii

Vnsure to whether side it would incline,
And all mens eyes and hearts, which there among
Stood gazing, filled were with rufull tine,
And secret feare, to see their fatall fine,
All suddenly they heard a troublous noyes,
That seemd some perilous tumult to desine,
Confusd with womens cries, and shouts of boyes,
Such as the troubled Theaters oftimes annoyes.
Thereat the Champions both stood still a space, xxxviii

To weeten what that sudden clamour ment;
Lo where they spyde with speedie whirling pace,
One in a charet of straunge furniment,
Towards them driuing like a storme out sent.
The charet decked was in wondrous wize,
With gold and many a gorgeous ornament,
After the Persian Monarks antique guize,
Such as the maker selfe could best by art deuize.
And drawne it was (that wonder is to tell) xxxix

Of two grim lyons, taken from the wood,
In which their powre all others did excell;
Now made forget their former cruell mood,
T’obey their riders hest, as seemed good.
And therein sate a Ladie passing faire
And bright, that seemed borne of Angels brood,
And with her beautie bountie did compare,
Whether of them in her should haue the greater share.
Thereto she learned was in Magicke leare, xl

And all the artes, that subtill wits discouer,
Hauing therein bene trained many a yeare,
And well instructed by the Fay her mother,
That in the same she farre exceld all other.
Who vnderstanding by her mightie art,
Of th’euill plight, in which her dearest brother
Now stood, came forth in hast[62] to take his part,
And pacifie the strife, which causd so deadly smart.
And as she passed through th’vnruly preace xli

Of people, thronging thicke her to behold,
Her angrie teame breaking their bonds of peace,
Great heapes of them, like sheepe in narrow fold,
For hast did ouer-runne, in dust enrould,
That thorough rude confusion of the rout,
Some fearing shriekt, some being harmed hould,
Some laught for sport, some did for wonder shout,
And some that would seeme wise, their wonder turnd to dout.
In her right hand a rod of peace shee bore, xlii

About the which two Serpents weren wound,
Entrayled mutually in louely lore,
And by the tailes together firmely bound,
And both were with one oliue garland crownd,
Like to the rod which Maias sonne doth wield,
Wherewith the hellish fiends he doth confound.
And in her other hand a cup she hild,
The which was with Nepenthe to the brim vpfild.
Nepenthe is a drinck of souerayne grace, xliii

Deuized by the Gods, for to asswage
Harts grief, and bitter gall away to chace,
Which stirs vp anguish and contentious rage:
In stead thereof sweet peace and quiet age[63]
It doth establish in the troubled mynd.
Few men, but such as sober are and sage,
Are by the Gods to drinck thereof assynd;
But such as drinck, eternall happinesse do fynd.
Such famous men, such worthies of the earth, xliv

As Ioue will haue aduaunced to the skie,
And there made gods, though borne of mortall berth,
For their high merits and great dignitie,
Are wont, before they may to heauen flie,
To drincke hereof, whereby all cares forepast
Are washt away quite from their memorie.
So did those olde Heroes hereof taste,
Before that they in blisse amongst the Gods were plaste.
Much more of price and of more gratious powre xlv

Is this, then that same water of Ardenne,
The which Rinaldo drunck in happie howre,
Described by that famous Tuscane penne:
For that had might to change the hearts of men
Fro loue to hate, a change of euill choise:
But this doth hatred make in loue to brenne,
And heauy heart with comfort doth reioyce.
Who would not to this vertue rather yeeld his voice?
At last arriuing by the listes side, xlvi

Shee with her rod did softly smite the raile,
Which straight flew ope, and gaue her way to ride.
Eftsoones out of her Coch she gan auaile,
And pacing fairely forth, did bid all haile,
First to her brother, whom she loued deare,
That so to see him made her heart to quaile:
And next to Cambell, whose sad ruefull cheare
Made her to change her hew, and hidden loue t’appeare.
They lightly her requit (for small delight xlvii

They had as then her long to entertaine,)
And eft them turned both againe to fight,

Download Crafting and Executing Strategy Concepts and Cases 22nd Edition Thompson Solutions Manual all chapters

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Download Crafting and Executing Strategy Concepts and Cases 22nd Edition Thompson Solutions Manual all chapters

Uploaded by

Copyright:

Available Formats

Crafting and Executing Strategy

Concepts and Cases 22nd Edition

Crafting and Executing Strategy Concepts and Cases 22nd

Crafting And Executing Strategy 19th Edition Thompson

Crafting and Executing Strategy Concepts and Cases The

Crafting and Executing Strategy Concepts and Cases The

Crafting and Executing Strategy Concepts and Cases The

Crafting And Executing Strategy Concepts And Cases The

Crafting and Executing Strategy Concepts and Cases The

Crafting and Executing Strategy The Quest for

c. To gain access to low-cost inputs of production—Companies in industries based on natural resources

A. Home-Country Industry Advantages and the Diamond Model

6. Related and Supporting Industries

7. Firm Strategy, Structure, and Rivalry

a. Different country environments foster the development of different styles of management,

B. Opportunities for Location-Based Advantages

C. The Impact of Government Policies and Economic Conditions in Host Countries

D. The Risks of Adverse Exchange Rate Shifts

E. Cross-Country Differences in Demographic, Cultural, and Market Conditions

III. Strategy Options for Entering and Competing in Foreign Markets

a. Maintain a home-country production base and export goods to foreign markets.

b. License foreign firms to produce and distribute the company’s products.

c. Employ a franchising strategy in foreign markets.

d. Establish a subsidiary in a foreign market.

e. Rely on strategic alliances or joint ventures with foreign companies.

4. An export strategy is vulnerable when:

c. Adverse fluctuations occur in currency exchange rates

d. Importing countries impose tariffs or erect other trade barriers.

3. The big problem a franchisor faces is maintaining quality control.

D. Foreign Subsidiary Strategies

b. Internal Development—requires experience and strong global position

4. Four other conditions make an internal startup strategy appealing:

a. When creating an internal startup is cheaper than making an acquisition.

E. Alliances and Joint Venture Strategies

ILLUSTRATION CAPSULE 7.1

Walgreens Boots Alliance, Inc.: Entering Foreign Markets via Alliance

IV. International Strategy: The three main strategic approaches

A. Multi-domestic Strategy—Think Local, Act Local

3. There are three main disadvantages to this strategic choice:

b. Raises production and distribution costs.

c. Is not conducive to building a single worldwide competitive advantage.

B. Global Strategy—Think-Global, Act-Global

3. There are four main disadvantages to this approach:

a. Does not enable firms to address local needs.

b. Is less responsive to changes in local market conditions.

c. Raises transportation costs and may involve higher tariffs.

d. Raises coordination costs.

C. Transnational Strategy—Think-Global, Act-Local

a. It is the most difficult to implement due to added complexity

b. It can place demands on the organization to pursue conflicting objectives.

c. It is likely to be costly and time consuming to implement.

ILLUSTRATION CAPSULE 7.2

Four Seasons Hotels: Local Character, Global Service

a. Use location to lower costs or achieve greater product differentiation

c. Use cross-border coordination in ways that a domestic-only competitor cannot

A. Using Location to Build Competitive Advantage

b. In which countries to locate particular activities

2. When to Concentrate Activities in a Few Locations

b. When there are significant scale economies in production or distribution

3. When to Disperse Activities Across Many Locations

a. Buyer-related activities—such as distribution, marketing, and after-sale service—usually must take

C. Benefiting from Cross-Border Coordination

VI. Cross-Border Strategic Moves

1. Waging a Strategic Offensive