For a Firm to Succeed, It Is Not Necessary for International

question 9

True/False

For a firm to succeed, it is not necessary for international strategy to be reflected in all five aspects of the firm's strategy diamond.

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Definitions:

Stable Preferences

The assumption in economic theory that consumers' tastes, preferences, and choices remain constant over time.

Behavioral Economics

A field of economics that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions of individuals and institutions.

Cash Registers

Mechanical or electronic devices used in shops to calculate and record sales transactions, and to store money.

Impulse

Impulse refers to a sudden desire or change in motion, often used in physics to describe the change in momentum resulting from a force applied over time, but also applicable to spontaneous decisions in human behavior.