To effectively plan and make decisions in a global economy,managers need to understand local market conditions and technological factors that will affect their operations.

Question

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Understanding local market conditions and technological factors is crucial for managers to make informed decisions and effectively plan their operations in a global economy. This enables them to adapt to local cultural, economic, and political environments, as well as keep pace with technological advancements and innovations that impact their industry. Ignoring these factors can result in poor performance and missed opportunities.

To Effectively Plan and Make Decisions in a Global Economy,managers