Question

1）Ethan Grenfell recently launched a firm in the clothing industry, targeting 13-17 year olds. One thing Ethan thinks he has accomplished is producing products that have universal appeal, so he will not vary his approach from country to country. Ethan is pursuing a ________ strategy.

Select one:

a. universal

b. multidomestic

c. home

d. contemporary

e. global

2）Ethan Wendler is the Chief Operating Officer of a startup in the health food industry. He is also a member of his firm's board of directors. In board of directors terminology, Ethan is a(n) _______ director.

Select one:

a. junior

b. outside

c. inside

d. expert

e. senior

3）Femrock guitars are stylish and come in feminine colors, and is the only guitar maker that incorporates design features that accommodate a woman's smaller hand and build. The best way to describe how Femrock’s business idea was recognized is ________.

Select one:

a. brainwriting

b. observing trends

c. brainstorming

d. finding a gap in the marketplace

e. talking to musicians

Answer 1

1. Ethan is pursuing a __global ______ strategy

Ans: Global strategy.

explantion: A global strategy is a strategy, which is same for all target contries for a business. A company takes centralized strategy in all countries it is operating. These countries have similar tastes and preference about the product and thus same approch is taken for country to country.

2. Ans: Inside director

An inside director is a direct stakeholder of the company. Ethan Wendler is already a CEO of the company and thus holds important responsibilities regarding the business operations. Therefore, as a member of board of directors, his position in board of directors terminology is an Insider director.

3. Ans. d. finding a gap in the marketplace

Femrock guitars is the only supplier of the guitars that are specially designed for woman's smaller hand. No other company provides this feature. Therefore, it is certain that before production of the specially designed product, there was a gap in the market. Hence, Femrock’s business idea was recognized as 'finding a gap in the market place'.