Question

A firm may narrow its focus to a specific region of the world: a. so that it can better understand the cultures, legal and social norms, and other factors that are important for effective competition in those markets. b. to take advantage of limited protections of intellectual property so that it can manufacture innovative products without restrictions. c. in order to obtain greater economies of scale. d. because that market is most different from its domestic market and so represents an unexploited "greenfield opportunity" for its products.

Answer 1

A firm may narrow its focus to a specific region of the world so that it can better understand the cultures, legal and social norms, and other factors that are important for effective competition in those markets .

Option a

Explanation:

Any firm when it starts must focus on first developing and enhancing itself fully. A 100 percent work efficiency must be the goal of the firm and it must try to achieve at least 99 percent. Thus, first, it must start at a small pace, build its foundations and then expand.

A firm may thus narrow its focus to a specific region so that it can better understand the cultures, legal and social norms, and other factors that are important for effective competition in those markets.