How businesses compete internationally:

• What does international competition refer to in business terms?

  Businesses competing in global markets
• Innovation is a key factor in gaining a competitive edge in international markets.


  True
• Directly investing in and establishing operations in a foreign country is called Foreign Direct Investment
• What is one competitive strategy businesses use to compete in international markets due to globalization?

  Cost leadership
• Technology can help businesses reduce costs and improve efficiency in international competition.

  True
• Technological advancements improve product and service quality to meet global standards
• What is the primary role of technology in international competition?

  Enhancing competitive factors
• Developing new or improved products gives a business a competitive edge
• The ability to produce goods or services at lower costs than competitors is known as costs
• What is the goal of branding in international competition?

  Building customer trust
• What competitive advantage does access to cheaper labor provide in international competition?

  Lower costs
• Businesses that develop unique products or services are using a strategy called differentiation
• Digital platforms and social media help businesses build a strong global brand
• Investing in R&D and emerging technologies drives innovation for businesses in international competition.


  True
• Arrange the key factors influencing international competition in order of their importance:

  1️⃣ Costs

  2️⃣ Quality

  3️⃣ Innovation

  4️⃣ Branding
• What does the term "international competition" refer to?

  Businesses competing in global markets
• Foreign Direct Investment (FDI) involves establishing operations in a foreign country.


  True
• Developing unique products or services is called differentiation
• How does technology help reduce operational costs for businesses in international competition?

  Through automation
• Strong intellectual property laws in foreign markets help businesses protect their innovations.


  True
• Legal and regulatory factors can significantly impact a business's ability to compete internationally
• Complying with different product standards and regulations across countries can add complexity and cost
• Why may businesses need to adapt their marketing strategies to local cultural norms?

  To meet consumer expectations
• Apple's global supply chain allows it to produce iPhones cost-effectively.


  True
• What challenges has Apple overcome to succeed internationally?

  Globalization and competition
• What is one advantage of Apple's global supply chain?

  Cost-effective production
• Match the international expansion strategy with its description:

  Exporting ↔️ Selling products worldwide

  Foreign Direct Investment ↔️ Establishing manufacturing in China
• Zara's brand is known for trendy and affordable fashion.


  True
• International competition involves businesses competing solely in their domestic markets.

  False
• What is the primary goal of exporting as an international business strategy?

  Sell products abroad
• How has globalization impacted business competition?

  Increased global competition
• What role does technology play in reducing costs for businesses?

  Automation and efficiency
• Strong intellectual property laws prevent competitors from imitating a business's innovations
• Granting the right to use intellectual property to a foreign company for a fee is called licensing
• What is one competitive strategy that involves reducing costs to offer lower prices?

  Cost Leadership
• Match the competitive strategy with its description:

  Cost Leadership ↔️ Reducing costs for lower prices

  Differentiation ↔️ Developing unique products

  Niche Focus ↔️ Targeting underserved segments
• What role do emerging technologies play in international competition?

  Driving innovation
• What is the primary goal of businesses leveraging technology in international competition?

  To succeed in the global marketplace
• Why is intellectual property protection important for businesses in foreign markets?

  To prevent imitation by competitors
• Effective communication with customers and partners in different languages is crucial for international success.


  True