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For each historical identification question, define the term and briefly describe its historical significance.
Louis XIV's wars
Local Responsiveness
The ability of a company or organization to meet the needs and preferences of local markets or environments.
Low Cost Reductions
refers to strategies implemented to decrease expenses in a business operation without significantly impacting product or service quality.
Corporate Strategy
The overarching plan and direction of a corporation that guides long-term decisions, including expansion, diversification, acquisition, and the allocation of resources.
Functional Strategies
Specific tactics and plans developed within each of a company's functional areas, like marketing or finance, to support the overall business strategy.
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