Two Ways to Use Culture as a Tool for Ensuring

question 2

True/False

Two ways to use culture as a tool for ensuring business success are to employ locals in order to gain cultural knowledge and to adapt products and processes in local markets.

Become familiar with the structure and purpose of various specialized teams and groups, such as task forces and quality circles.

Explore strategies for managing and leading teams effectively, including virtual teams and self-managing work teams.

Understand the concept of managers acting as 'linking pins' within organizational structures.

Identify the characteristics and functions of cross-functional teams, including their advantages and limitations.

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Definitions:

Sensitive

Capable of perceiving with the senses or responsive to stimuli or changes in the environment.

Demand

The desire to purchase goods and services backed by the ability and willingness to pay a price.

Economic Theory

A set of principles that explain how economic processes work, guiding the analysis of economic behavior and decision-making.

Relatively Inelastic

Term indicating that the demand or supply for a good or service changes only slightly in response to changes in price.