In Addition to Responding to Pressures to Lower Costs, Managers

question 58

True/False

In addition to responding to pressures to lower costs, managers must strive to be responsive to global pressures in order to tailor their products to the demand of the local market in which they do business.

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Definitions:

Construction Industry

The sector of the economy that deals with the construction, maintenance, and repair of buildings, roads, and other physical structures.

Privately Owned Businesses

Businesses that are owned by individuals or private companies and are not traded publicly on stock exchanges.

Entrepreneurship

The act of creating, managing, and scaling a business venture to generate profit while taking on financial risks.

Flexible

The ability to easily adapt to new, different, or changing requirements, conditions, or situations.