A Theory That Seeks to Explain How the Newly Industrializing

question 31

Multiple Choice

A theory that seeks to explain how the Newly Industrializing Countries NICs) of East Asia e.g., Hong Kong, Taiwan, S. Korea, Singapore) were able to rapidly industrialize and gain a major position in world markets between the 1960s and the 1990s is operating at which level?

• A) mini
• B) meso
• C) macro
• D) micro

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Definitions:

Adapting and Developing

The continuous process of making adjustments to changes in the environment or situation, and enhancing capabilities or resources to meet new challenges.

Streamlining Operations

Refers to the process of making a business's operations more efficient and effective by improving workflows and removing unnecessary steps or overhead.

Fewer Layers

A term describing an organizational structure with reduced levels of middle management for faster decision-making.

Rapidly Changing Consumer Demands

The swift alteration in consumers’ preferences and needs that businesses must adapt to in order to stay competitive.