Which of the Following Is Associated with Firms Following the Global

question 61

Multiple Choice

Which of the following is associated with firms following the global standardization strategy?

• A) High pressures for local responsiveness
• B) Use cost advantage to support aggressive pricing in world markets
• C) Low pressures for cost reductions
• D) Customize product offering and marketing strategy to local conditions

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Definitions:

Total Breach

A significant failure to fulfill a core obligation of a contract, allowing the other party to terminate the agreement and seek damages.

Estoppel

A legal principle preventing someone from arguing something contrary to a claim previously made or acted upon in good faith.

Waiver

The intentional relinquishment of a known right. It is a voluntary act and implies an election by the party to dispense with something of value, or to forgo some advantage that he or she might have demanded and insisted on.

Personal Satisfaction

A contractual condition requiring an obligation to be performed to the personal satisfaction of one of the parties involved, subject to reasonable criteria.