As Firms Begin Exporting to Foreign Clients and Become What

question 33

Multiple Choice

As firms begin exporting to foreign clients and become what Adler calls "international corporations," they must:

• A) increase the standardization of products and services.
• B) adapt their products but not their approach to those of the local market.
• C) adapt their approach and products to those of the local market.
• D) adapt their approach but not their products to those of the local market.

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Definitions:

Global Competitiveness

The ability of a country or company to compete effectively and successfully in international markets.

Consumer Safety

Measures and regulations aimed at preventing harm to consumers and ensuring that the products they use are free from dangerous defects.

Rent Seeking

An economic concept referring to the practice of individuals or firms using their resources to gain government favors or advantages without creating new wealth, often through lobbying or other non-productive means.

Wealth Transfer

Refers to the movement of assets or capital from one individual, group, or entity to another, often as a result of inheritance, gifts, or strategic financial planning.