Initially,many Foreign Factories Are Established Where

question 85

Multiple Choice

Initially,many foreign factories are established where:

• A)labor costs are high.
• B)labor costs are low.
• C)labor costs are on par with the manufacturer's typical costs.
• D)labor-intensive manufacturing is the exception rather than the norm.

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Definitions:

Functional Departmentalization

The organizing of a business into departments based on functions, such as sales, marketing, and production.

Goods and Services

The wide range of tangible products and intangible activities that fulfill the needs or wants of consumers.

Corporate Cultures

Corporate cultures refer to the shared values, beliefs, and practices that characterize an organization, influencing its work environment and how employees interact.

Entrepreneur

Risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.