For Most Small Businesses, the Primary Motivation for Going Global

question 12

Multiple Choice

For most small businesses, the primary motivation for going global is to:

• A)develop new market opportunities.
• B)reduce the costs of doing business.
• C)gain access to resources that are important to the business's operations.
• D)capitalise on special features of location.

Describe the basic steps involved in conducting a scenario analysis.

Recognize the importance of considering multiple levels and perspectives in scenario development for comprehensive strategy formulation.

Grasp the utility of scenario analysis as a long-term strategizing tool over other forms of planning.

Acknowledge the limitations of scenario analysis, including the challenge of forecasting and the focus on multiple factors.

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Definitions:

Leading Questions

Questions formulated in such a way that they suggest the desired answer or influence the respondent towards a predetermined response.

Educational Institution

An organization dedicated to educational purposes, where learning is facilitated, ranging from schools to universities.

Herbert Blumer

An American sociologist, best known for his development of symbolic interactionism, a theoretical perspective that explores how people create meanings through social interaction.

Opinion Leaders

Individuals who hold influence over the attitudes and behaviors of others within specific communities or groups, often because of their authority, knowledge, or position.