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Identify the barriers to intercultural communication. How can these barriers be removed in a business environment? Give examples of the implications of this in business.
Value Creation
The process of maximizing the difference between a customer’s willingness to pay and the cost of a product.
Value Capture
The process of maximizing the portion of that value the company keeps.
Low-Cost Strategy
A strategy that helps companies succeed through efficiencies and by reducing costs.
Growth Strategy
Approaches or plans implemented by a business or organization aimed at expanding its operations, increasing market share, or achieving higher revenues.
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