In developing economies, informal institutions tend to play a greater role than in
developed economies, possibly because
A. the developing economies have more ambiguity and lack formal institutions by
definition, so informal institutions step into the breach.
B. developing economies show cultural preference for informality.
C. informal institutions emerge to give order to the unstructured, chaotic environment.
D. A and C.
In the traditional strategic planning approach:
A. the CEO and the head of planning got together to devise a corporate plan, which
would then be handed to the operating people for execution.
B. interaction with important customers and suppliers was included.
C. governments and other stakeholders were direct participants.
D. tended to fall victim to collective mind-sets about the competitive environment.
E. two of the above.
A pioneering firm stands the best chance for long-term success in market-share
leadership and profitability when:
A. there are high entry barriers for competitors.
B. it has strong patent protection.
C. there are substantial investment requirements.
D. all of the above.
Most firms begin their involvement in overseas business by: