Companies Pursuing a Low-Cost Strategy on a Global Scale Are

question 13

True/False

Companies pursuing a low-cost strategy on a global scale are following a global standardization strategy.

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Definitions:

Declining Industry

Declining Industry refers to a sector experiencing a long-term drop in demand or output, often due to technological changes, market saturation, or shifts in consumer preferences.

Agriculture

The activity of farming the land, producing crops, and keeping animals with the aim of generating food, textiles, and additional items.

USDA

The United States Department of Agriculture (USDA) is a federal agency responsible for developing and executing federal laws related to farming, forestry, and food.

Technological Changes

Innovations or improvements in technology that affect productivity, efficiency, and competitiveness in an industry or economy.