________ Refers to the Tendency of Firms to Extend Their

question 38

Multiple Choice

________ refers to the tendency of firms to extend their sales,ownership,and/or manufacturing to new markets abroad.

• A) Expansion
• B) Market development
• C) Globalization
• D) Export growth
• E) Diversification

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Definitions:

Retrenchment Strategy

A business strategy used to reduce the scale or scope of a company's operations to improve financial stability during tough times.

Recruiting

The process of identifying, attracting, and selecting candidates for employment to fill job vacancies.

Prospector Strategy

A business strategy focused on growth and innovation by exploring new markets and opportunities, often at the risk of higher instability and investment.

Little Uncertainty

A scenario characterized by high predictability, allowing for accurate planning and forecasting.