In Global Projects, Learning and Understanding the Culture and Customs

question 28

Multiple Choice

In global projects, learning and understanding the culture and customs of other project participants:

• A) aids in developing effective project teams.
• B) ensures project success.
• C) demonstrates the project manager's weakness.
• D) leads to mistrust in the team.

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Definitions:

Product Diversification

A strategy employed by companies to increase profitability and achieve growth by adding new products or entering into different markets that differ from the existing lineup.

Brand Extension

The strategy of using an established brand name to launch a new or modified product in a different category.

Bic Brand Name

A well-known brand that specializes in making disposable consumer products such as lighters, razors, and pens.

Innovation Strategy

An approach a company takes to encourage new ideas, creative thinking, and new project developments to gain a competitive advantage.