In the 1970s and 1980s, __________ dominated the global marketplace because they could exploit their skills in production, materials management, and new product development.

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During the 1970s and 1980s, Japanese firms, such as Toyota and Sony, emerged as dominant players in the global marketplace due to their ability to excel in production, materials management, and new product development. This period was also known as the "Japanese economic miracle." While large U.S. firms were still important players, they faced increasing competition from Japanese companies. Low-cost Chinese manufacturers did not become dominant until the 1990s and beyond, and European service companies and Mideast oil producers were not major players in the global marketplace during this time period.

In the 1970s and 1980s, __________ Dominated the Global Marketplace