According to the Notion of "Think Locally,act Globally," a Business

question 11

True/False

According to the notion of "think locally,act globally," a business organization would emphasize the synergy created by serving multiple markets globally,but formulate a distinct competitive strategy for each specific market that is tailored to its unique situation.

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Definitions:

Strategic Fit

The degree to which an organization's strategies align with its internal capabilities and external environment to achieve a competitive advantage.

Competitive Landscape

The analysis of factors such as competitors, market conditions, and customer preferences within an industry.

Product Life Cycle

The stages a product goes through from development and introduction to the market, growth in sales, maturity, and eventually decline and withdrawal from the market.

Supply Chain Responsiveness

The agility of a supply chain in adapting and responding to changes in demand, supply, and other external factors.