Why Do Project Managers Need to Understand Strategy

question 65

Essay

Why do project managers need to understand strategy?

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Definitions:

Export-Promotion Strategy

An economic policy aimed at encouraging domestic producers to export goods, typically through government support measures like subsidies, tax incentives, or easing regulatory requirements.

Import-Substitution Strategy

An economic policy aimed at reducing foreign dependency by local production of industrialized products.

Capital Available

The amount of financial resources a company or individual has available for investment or spending purposes.

Unionized Labor Force

A workforce that is organized into trade unions, which collectively negotiate wages, work hours, and working conditions.