U.S.service firms such as financial institutions,construction,engineering,insurance,and leisure will have a difficult time expanding to global markets because competing foreign firms possess many competitive advantages.

Question

Quizplus · Accepted Answer

This statement is not necessarily true. While foreign firms may have certain advantages, such as lower labor costs or cultural knowledge, U.S. service firms can still compete globally by offering high-quality services, innovation, and strong marketing strategies. It may not be easy, but it is not impossible for U.S. service firms to expand to global markets.

USservice Firms Such as Financial Institutions,construction,engineering,insurance,and Leisure Will Have a Difficult