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Johnson & Johnson delegates to its subsidiaries a great deal of authority to respond to local conditions.Many subsidiaries have their own manufacturing,marketing,research,and human resource functions.This value chain configuration illustrates the ________ strategy.
Severe Recession
A period of significant decline in economic activity across the economy that lasts for an extended period of time.
Aggregate Demand
The total demand for all goods and services in an economy at a given overall price level and in a given time period.
New Deal
A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s.
Business Environment
The combination of all external and internal factors that influence a business's operating situation, including economic, legal, technological, and political circumstances.
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