Standardizing Products for the Whole World as If It Were

question 114

Multiple Choice

Standardizing products for the whole world as if it were a single entity is a characteristic of a(n) _____.

• A)global strategy
• B)individualized strategy
• C)domestic strategy
• D)customization strategy
• E)national strategy

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Definitions:

Universal Process Approach

A methodology that assumes all businesses undergo similar processes and therefore can be improved or optimized through a set of standardized practices.

Behavioral Approach

A study or method focusing on observable behaviors and the ways in which learning occurs through interactions with the environment.

Risky R&D

Research and development activities characterized by high levels of uncertainty and potential for failure, but also the possibility of significant rewards.

Secret Strategy

A confidential plan or method employed by an organization to gain a competitive advantage.