global competitiveness

Question 1

global comptitiveness is

Answer 1

the ability of a multinational business to perform Better than its rivals across markets in different countries

Question 2

low exchange rates mean

Answer 2

• 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

Question 3

high exchange rates mean

Answer 3

• 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

Question 4

cost leadership is

Answer 4

the lowest cost of operation in the industry

Question 5

cost leadership can be gained by 5 things

Answer 5

• offshoring
• product differentiation
• lean production
• high productivity workforce
• innovative workforce

Question 6

capacity utilisation is

Answer 6

the extent to which the equipment is used, the potential output

Question 7

lean productivity is

Answer 7

method of minimising waste without haltering productivity