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Globus Final Exam Questions and Essays with 100% Correct Answers
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Globus Final Exam Questions and Essays with 100% Correct Answers
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Globus Final Exam Questions andEssays with 100% Correct Answers
porter's diamond framework - ✔ ✔ Explains national competitive advantage
-Factor conditions
-Demand conditions
-Competitive intensity in focal industry
-Related and supporting industries/complementors
factor conditions - ✔ ✔ describe a country's endowments in terms of natural, human, and
other resources
demand conditions - ✔ ✔ specific characteristics of demand in a firm's domestic market
competitive intensity in focal industry - ✔ ✔ companies that face a highly competitive
environment at home tend to outperform global competitors that lack such intense
domestic competition
Related and supporting industries/complementors - ✔ ✔ Leadership in related and
supporting industries can also foster world-class competitors in downstream industries.
shared value creation framework - ✔ ✔ Proposes that managers maintain a dual focus
on shareholder value creation and value creation for society
, Michael Porter recommends that managers focus on three things within the shared value
creation - ✔ ✔ 1. Expand the customer base to bring in nonconsumers-such as those at the
bottom of the pyramid, the largest but poorest socioeconomic group of the worlds population.
2. expand traditional internal firm value chains to include more nontraditional partners-such as
nongovernmental organizations (NGO)
3. focus on creating new regional clusters-such as silicon valley in the united states
corporate governance - ✔ ✔ system of mechanisms to direct and control an enterprise in
order to ensure that it pursues its strategic goals successfully and legally
corporate governance attempts to address the _________ - ✔ ✔ principle agent problem
agency theory - ✔ ✔ a theory that views the firm as a nexus of legal contracts
information asymmetry - ✔ ✔ situation in which one party is more informed than
another because of the possession of private information
Governance Mechanisms - ✔ ✔ mechanisms that principals put in place to align
incentives between principals and agents and to monitor and control agents
governance mechanisms need to be designed to overcome two specific agency problems -
✔ ✔ 2. adverse selection
1. moral hazard
adverse selection - ✔ ✔ a situation that occurs when information asymmetry increases
the likelihood of selecting inferior alternatives
moral hazards - ✔ ✔ situation in which information asymmetry increases the incentive of
one party to take undue risks or shirk other responsibilities because the costs incur to the
other party
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