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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Identify and differentiate the properties of services and tangible products.

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, emphasizing the idea that behaviors are influenced by their consequences.

Controlled

In psychology, referring to cognitive processes that require conscious, deliberate thought or processes that are under an individual's deliberate control.

Reinforcement

In behavioral psychology, a process by which a behavior becomes more likely to occur due to the consequence that follows it, can be positive or negative.

Favourable Consequences

Favourable consequences are positive outcomes or benefits that result from specific actions or behaviors, often serving as reinforcement.