Firms Must Formulate and Implement Business Strategies That Take Advantage

question 112

True/False

Firms must formulate and implement business strategies that take advantage of the determinants of national advantage in order to achieve competitive success.

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Definitions:

Conformity

The act of changing one's behavior to match the responses or norms of a group, often as a result of real or imagined group pressure.

Groupthink

A psychological phenomenon in which the desire for harmony in a decision-making group overrides a realistic appraisal of alternatives.

Minority Influence

The process by which a smaller portion of a group changes the opinions or behaviors of the larger group, often through consistency, persistence, and coherence in their stance.

Brainstorming

A creative group activity designed to generate a large number of ideas for the solution to a problem.