A Firm May Narrow Its Focus to a Specific Region

question 118

Multiple Choice

A firm may narrow its focus to a specific region of the world:

• A) because that market is most different from its domestic market and so represents an unexploited "greenfield opportunity" for its products.
• B) in order to obtain greater economies of scale.
• C) so that it can better understand the cultures, legal and social norms, and other factors that are important for effective competition in those markets.
• D) to take advantage of limited protections of intellectual property so that it can manufacture innovative products without restrictions.

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Definitions:

Trust Between

The level of confidence, reliability, and understanding existing among individuals, organizations, or systems, enabling a cooperative or interdependent relationship.

On-the-Job Training

Training provided to employees at their place of work, focusing on the practical application of skills necessary for their role.

Small and Medium

Generally refers to small and medium-sized businesses or enterprises characterized by their size, which falls below certain limits in terms of employees or revenue.

Low Costs

Refers to minimal financial expenditure or the aim to reduce expenses in business operations or activities.