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Special complications confront a firm involved in the globalization of its operation.
Globalization means the tendency of firms to extend their sales, ownership, and manufacturing to new markets abroad. It refers to the strategy of approaching worldwide markets with standardized products. Such markets are most commonly created by end consumers that prefer lower-priced, standardized products over higher –priced, customized produced and by global corporations that use their worldwide operations to compete in local markets.
Globalization is a generalized historical process through which more economic activity takes place across national borders. Forms of globalization include international trade (exports and imports), foreign direct investment, international financial flows, and international migration.
Globalization is the tendency of firms to extend their sales or manufacturing to new markets abroad.
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39) ________ refers to the tendency of firms to extend their sales, ownership, and/ormanufacturing to new markets abroad.A) ExpansionB) Market developmentC) GlobalizationD) Export growthE) DiversificationAnswer:Explanation: Globalization is the tendency of firms to extend their sales, ownership, and/ormanufacturing to new markets abroad. Firms usually expand globally to expand sales, cut laborcosts, or form partnerships with foreign firms.C
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Full file at Test-Bank-for-Human-Resource-Management-12th-Edition-by-Dessler40) All of the following are the most common reasons that firms decide to globalize EXCEPT________.CDiff: 2Page Ref: 11
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Chapter:1Objective:4Skill:Concept41) Which of the following is a potential disadvantage to consumers of the globalization trendamong businesses?EDiff: 2Page Ref: 11
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Chapter:1Objective:4Skill:Concept42) Which of the following best explains the shift from manufacturing to service jobs in theU.S.?A
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