Identify and discuss the reasons for increasing business globalization.
What will be an ideal response?
Answers vary. Reasons include increase business, the global village, declining trade barriers and the WTO, declining barriers of distance and culture, rise of trade blocs, and to stay competitive.
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Which of the following is a social factor that influences consumer buying behavior?
A) family B) life-cycle stage C) economic situation D) personality E) occupation
A major drawback of using a low-cost provider strategy is
A. capturing volume gains and achieving economies of scale. B. relying on approaches to reduce costs that can be easily copied. C. development of cost-saving technological breakthrough that cannot be readily adopted by rival firms. D. beneficial and sustainable cost reduction. E. industry cost leadership.
The Marine Protection, Research, and Sanctuaries Act, enacted in 1972, extends environmental protection to the oceans
Indicate whether the statement is true or false
What is done through the Vivid Vision exercise?
a. The entrepreneur tries to imagine what the business will look like 3 years into the future. b. The entrepreneur assesses what the business looks like in the present. c. The entrepreneur envisions how he or she is going to build the business and the steps needed to take to get there. d. The entrepreneur tries to imagine what the business will look like in 10 years.