Which of the following statements about globalization is true?
A) Customization becomes easy as global competitors seek production efficiencies.
B) Globalization has led to rivals coming from afar into home markets.
C) It is not necessary for firms to customize their products to expand globally.
D) Globalization hasn't changed the dynamics of the workforce.

Question

Quizplus · Accepted Answer

Globalization has led to increased competition, including new rivals entering home markets from other countries. This has created challenges for domestic companies that must compete with foreign firms that have lower costs or other competitive advantages. Customization may be necessary to differentiate products and gain a competitive edge in this global market. The dynamics of the workforce have also been affected by globalization, with companies increasingly outsourcing jobs to other countries for cost savings or access to specific expertise.

Which of the Following Statements About Globalization Is True