Firms Using the Differentiation Strategy Need to Respond Quickly to Environmental

question 47

True/False

Firms using the differentiation strategy need to respond quickly to environmental opportunities and threats. The functional structure is effective for this strategy because of its centralization of decision-making.

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Definitions:

Private Saving

The portion of individual or household income that is not consumed and is set aside for future use, typically in the form of savings accounts, investments, and retirement accounts.

National Saving

National saving is the sum of private and public saving, representing the total amount of a nation's income that is not consumed or spent by the government.

Financial Crises

Periods of significant disruptions in financial markets that are characterized by sharp declines in asset prices and the failure of financial institutions, leading to economic downturns.

Achaemenids

Refers to the first Persian Empire, ruled by the Achaemenid dynasty from approximately 550-330 BCE, known for its impressive administration system, monumental architecture, and multicultural approach to governance.