Increasing globalization of markets and of competition provides a reason for multinational firms to consider new-product development from a worldwide perspective.

Question

Quizplus · Accepted Answer

Increasing globalization of markets and competition means that multinational firms can no longer rely on local market opportunities alone. They need to develop new products that are globally relevant and can compete on a global scale, taking into account different customer needs, preferences, and regulatory environments across different countries and regions. This requires a worldwide perspective in new-product development.

Increasing Globalization of Markets and of Competition Provides a Reason