global competitiveness Flashcards
1
Q
global comptitiveness is
A
the ability of a multinational business to perform Better than its rivals across markets in different countries
2
Q
low exchange rates mean
A
- exporting business are more competitive because exports are cheaper to buy
- imports go up in price so competition decreases
- domestic business should gain market share
3
Q
high exchange rates mean
A
- exporters find it harder to compete as their products are more expensive
- importers find it easier to compete as their products are more expensive than those in the domestic market
4
Q
cost leadership is
A
the lowest cost of operation in the industry
5
Q
cost leadership can be gained by 5 things
A
- offshoring
- product differentiation
- lean production
- high productivity workforce
- innovative workforce
6
Q
capacity utilisation is
A
the extent to which the equipment is used, the potential output
7
Q
lean productivity is
A
method of minimising waste without haltering productivity
