Chapter 3 questions

Chapter 3 questions - Chapter 3 Answers Page 81 1a What is...

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Chapter 3 – Answers Page 81 1a. What is meant by the term “global presence”? “Global Presence” means that a country is recognized internationally for its reliability, fairness, and integrity of its business dealings, and also the standards of its companies; products and services. Important to Canada since it makes other countries aware of what we have to offer, which in turn gives us capital and markets from around the world. 2a. List four measures of competitive advantage. It can be measured by market share and performance (compared to key competitors), partnerships with suppliers, customer demand, customer loyalty, distribution, se3rvice, and basic resources such as support systems and skilled and knowledgeable workers. What is GDP? Gross Domestic Product is the value of a nation’s annual output of goods and services. Why is it an important measure of competitiveness? Importance to Canada is that GDP is slipping, which means more countries are being more productive and in a better position to compete internationally. Canada’s manufacturing sector is slow and lack of investment in R&D are evident. Canada’s has been slow in adopting new technologies 2b. How is business similar to sport when it comes to competition? Businesses are always trying to be the leaders in their field when it comes to product development and advances in technologies. This incentive to be on the forefront will acquire them new sales and thus achieving a higher market share. 3a. According to those quoted in the article on Page 80, which Canadian companies have high regard and recognition globally? Tilley Endurables and Roots have been recognized globally with a Canadian nature and outdoors image. What do the authors say about Canada’s ability to be a “globally player?” As a global player, Canada is rated first in the world in trustworthiness. Canadian products have a reputation for reliability. Canada needs to, not only move along with their market, but also try to achieve new markets. For example, the loss of the American younger market.
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Page 85 1a. How does a country achieve competitive advantage? Competitive advantage is achieved when companies and countries outperform their
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Chapter 3 questions - Chapter 3 Answers Page 81 1a What is...

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