Global competition forces firms to ________.

Name: Global competition forces firms to ________.
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Question

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Global competition requires firms to become lean, fast, and flexible in order to compete effectively by reducing costs, improving productivity, and responding quickly to changes in the market. Building up enormous cash reserves is not necessarily a requirement of global competition, while thinking locally and becoming more hierarchical can actually hinder a firm's ability to compete globally.

Global Competition Forces Firms to ________