Firms Using the ________ Strategy Can Be Thought of as "World

question 83

Short Answer

Firms using the ________ strategy can be thought of as "world companies."

---

Definitions:

Raw Materials

Basic materials that are used in the production of goods, finished products, or intermediate materials that are feedstock for future finished products.

Cheap Labor

The employment of workers at wages that are considered lower than the norm for their industry or region.

Regionalization

Regionalization is the division of the world into different and often competing economic, political, and cultural areas.

European Union

A political and economic union of 27 European countries that are tied by a single market and a variety of policies aiming at ensuring freedom, security, and justice.