ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Guarantees its success in the marketplace.
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Makes it a member of GATT automatically.
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Often helps it to grow faster and better survive competition.
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Leads to business failure for companies under $100 million in annual revenue.
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Detailed explanation-1: -Expanding into new, foreign markets can help a business increase its customer base and revenue, leading to overall growth and success. This is because a business can reach a larger group of potential customers interested in its products or services by operating in new markets.
Detailed explanation-2: -One of the advantages of international expansion is access to new talent and new markets. With the international expansion, you open doors for hiring talents from the global markets. You can find a pool of potential employees with the right skillset for your business.
Detailed explanation-3: -Global expansion is a growth strategy that involves taking business operations, products, and services from a home market into target markets abroad. It’s also referred to as “international expansion, ‘’ “overseas expansion, ‘’ and “foreign expansion.”
Detailed explanation-4: -Acquire global talent. Reduce costs. Become more resilient. Expand globally for growth opportunities. Expand globally for tax and compliance benefits. 19-Apr-2023