Part 1Which of the following statements about local responsiveness is FALSE? Part 1
A. Firms adjust to the local competitive environment. B. Companies adhere to local customer preferences. C. Firms avoid offering many product variations for individual markets because of cost increases. D. Businesses take the local culture into consideration for transactions. E. Firms adjust their practices to meet the specific needs of each country.

Question

Part 1Which of the following statements about local responsiveness is​ FALSE? Part 1
A. Firms adjust to the local competitive environment. B. Companies adhere to local customer preferences. C. Firms avoid offering many product variations for individual markets because of cost increases. D. Businesses take the local culture into consideration for transactions. E. Firms adjust their practices to meet the specific needs of each country.

BlackTom AI · Accepted Answer

Question restatement: Which of the following statements about local responsiveness is FALSE?

Option A: 'Firms adjust to the local competitive environment.' This is consistent with local responsiveness, as firms tailor strategies to rival activity, market structure, and competitive dynamics in each locale. The reasoning here is that local conditions drive adaptation, so this statement aligns with the concept.

Option B: 'Companies adhere to local customer preferences.' This also fits local responsiveness, since understanding and honoring local tastes, customs, and buying habits is central to meeting market needs. The implication is that firms customize offerings to fit consumer desires in each market.

Option C: 'Firms avoid offering many product variations for individual markets because of cost increases.' This statement contradicts the idea of local responsiveness. In practice, to be locally responsive, firms often offer multiple product variations to satisfy diverse local preferences, even though it raises costs. The claim that firms avoid variations due to cost is therefore inaccurate with respect to the goal of tailoring offerings to each market.

Option D: 'Businesses take the local culture into consideration for transactions.' Incorporating local culture into business practices is a hallmark of local responsiveness, affecting negotiation styles, branding, and overall transaction design. This statement is true.

Option E: 'Firms adjust their practices to meet the specific needs of each country.' Tailoring governance, operations, and processes to national contexts is central to local responsiveness, making this statement true.

Overall analysis: Options A, B, D, and E describe aspects consistent with local responsiveness, emphasizing adaptation to local competition, customer preferences, culture, and country-specific needs. Option C stands out as inconsistent because it asserts a constraint (avoiding variation) that would hinder responsiveness, whereas true local responsiveness often requires creating multiple variations. The false statement is therefore Option C.

Quiz:Ch 11 Quiz

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