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Henrietta's utility function is U(x1, x2) = x1x2. She has diminishing marginal rate of substitution between goods 1 and 2.
Global Environment
The international context within which organizations operate, influenced by economic, social, technological, and political factors across borders.
Divisional Structure
A structure that organizes a company by units according to the products they make, the customer segments they serve, or the geographic location in which they operate.
Functional Structure
A structure that organizes a company into units identified by their functional roles, or what they do.
Meganational Companies
Companies that operate on a global scale, extending their products, operations, and marketing strategies across multiple countries.
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