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A steel railroad expands and contracts according to the formula ?l = l??T, where ?l is the change in length, ? is a constant called the coefficient of linear expansion, l is the original length, and ?T is the change in temperature. If a 10 ft steel rail is installed at 0 o F how many inches will it expand when the temperature raises to 180 o F?
Location Economies
The economic benefits that firms gain by performing a particular activity in the optimal location for that activity.
Meganational Strategy
A strategy employed by companies that operate globally, aiming to balance the scale benefits of global operations with the need to adapt to local markets.
Value Chain
All the value-creating activities undertaken by the company.
Multidomestic Strategy
a marketing strategy that involves tailoring products or services to fit the needs and preferences of different national markets.
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