U.S. Steel and Nucor (the two remaining major players in the U.S. steel industry) have been forming alliances as a means to enter markets in Europe and Asia. The steel industry is an example of a(n) __________ market in which firms typically use alliances to gain market access.

Which of the following is NOT a result of overdiversification?

Specialization refers to the extent to which decision-making authority is retained at higher managerial levels

There are three variations of the multidivisional structure

__________ are unsecured obligations that are not tied to specific assets for collateral.

A(n) __________ cooperative strategy helps firms diversify in terms of products offered, markets served, or both.

The decision-making discretion of top-level managers is determined partly by external environmental sources such as the industry structure, the rate of market growth in the firm’s primary industry, and the degree to which products can be differentiated

RexMacDonald, Inc., uses a differentiation strategy that relies on cooperation, communication, and sharing of ideas among employees. In order to foster this behavior, RexMacDonald should emphasize strategic controls over financial controls

Some companies have a preference for insiders to fill top-level management positions because of the desire for continuity and a continuing commitment to the firm’s existing vision, mission, and chosen strategies

Raymond Vernon states that the classic rationale for international diversification is to: