Increasing Globalization of the Industry Can Be a Driving Force

question 9

Multiple Choice

Increasing globalization of the industry can be a driving force because

• A) the products of foreign competitors are nearly always cheaper or of better quality than those of domestic companies.
• B) foreign producers typically have lower costs, greater technological expertise, and more product innovation capabilities than domestic firms.
• C) it tends to increase rivalry among industry members and often shifts the pattern of competition among an industry's major players, favoring some and disadvantaging others.
• D) it results in companies having fewer competitors and a strategic group map with fewer circles.
• E) market growth rates go up, product innovation speeds up, and new firms are likely to enter the industry.

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Definitions:

Decision Tree

A predictive model used in decision analysis to visually map out choices and their potential outcomes, risks, or rewards.

Leadership

The ability to inspire, influence, and guide others toward achieving common goals and visions.

Group Decide

The act of making choices or coming to conclusions as a collective, rather than by individuals independently.

Leadership Style

Refers to the manner and approach of providing direction, implementing plans, and motivating people.