According to Michael Porter,to Be Successful in the Long Run,a

question 35

Multiple Choice

According to Michael Porter,to be successful in the long run,a company must

• A)deliver greater value to customers and/or create comparable value at a lower cost.
• B)maximize profits.
• C)maximize shareholder value.
• D)both B and C

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Definitions:

Free Trade

The absence of tariffs, quotas, and other restrictive regulations between countries to encourage unrestricted exchange of goods and services.

Remittances

Money sent by individuals working abroad to family members or others in their home country.

Transnational Hybrid

A business model combing elements from multiple cultural or legal frameworks, operating across national borders.

Private Sector

The part of the economy that is run by individuals and companies for profit rather than by the state.