Explain How the Establishment of Free-Trade Areas Creates an Opportunity

question 15

Essay

Explain how the establishment of free-trade areas creates an opportunity for manufacturing organizations to reduce their costs.

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Definitions:

Productivity

This is the measure of efficiency in which goods and services are produced, often evaluated in terms of output per time invested.

Top Management

The highest level of management in an organization, including positions such as CEO, CFO, and other senior executives.

HR Managers

Professionals responsible for overseeing various functions associated with managing an organization's employees, including recruitment, training, performance management, and benefits administration.

Administrative Efficiency

The effectiveness with which administrative tasks and processes are carried out, minimizing waste and maximizing productivity.