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34 Briefly Discuss Whether the Type of Industry a Company Belongs

question 25

Essay

34. Briefly discuss whether the type of industry a company belongs to affects that company’s decision to adopt an international, multinational, or global strategy. Explain why you believe that industry type affects/does not affect strategy choice.


Definitions:

Economically Most Efficient

A situation or method that yields the maximum output without wasting resources.

Labor And Capital

The two primary factors of production; labor represents human contribution, while capital includes tools, equipment, and technology used in production.

Minimize Production Costs

The process of reducing the expenses associated with manufacturing products or providing services without compromising quality.

Competitive Pressures

Forces that compel businesses to compete more effectively through pricing, innovation, and improved quality to gain or maintain market share.

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