As MNEs compete internationally, a focus on local responsiveness allows them to do which of the following?

a. independently convert foreign currency into domestic currency
b. open new production facilities quickly and without political interference
c. tailor product offerings to fit local preferences and requirements
d. deliver the same standardized product to all markets throughout the world

Question

12-12-2022
Business

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As MNEs compete internationally, a focus on local responsiveness allows them to do which of the following?

a. independently convert foreign currency into domestic currency
b. open new production facilities quickly and without political interference
c. tailor product offerings to fit local preferences and requirements
d. deliver the same standardized product to all markets throughout the world

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The focus allows MNEs to c.tailor product offerings to fit local preferences and requirements

Local responsiveness refers to the ability of a multinational enterprise (MNE) to adapt its products and operations to the specific needs and preferences of the local market in which it is operating. In order to be successful in international markets, MNEs must be able to effectively balance their global operations with the local needs of each market.

This requires careful consideration of the cultural, social, economic, and political differences among the markets, as well as local consumers' specific needs and preferences. By focusing on local responsiveness, MNEs can better tailor their products and operations to fit the local market's needs, which can help them achieve a competitive advantage and build strong relationships with local customers.