How Does the Global Economy Change Competitive Strategy

question 26

Essay

How does the global economy change competitive strategy?

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Definitions:

Offshoring

The practice of relocating business processes or services to a foreign country to reduce costs or take advantage of favorable regulations.

Supply Chain Visibility

The ability of a company to track and understand the movement and status of goods throughout the supply chain, from suppliers to end consumers.

Labor Costs

Expenses related to the compensation of employees for their work, including wages, salaries, and benefits.

Supply Chain Design

The process of determining the most efficient and effective layout of production, distribution, and inventory facilities along with the selection of suppliers and transportation methods.