One of the primary reasons for globalizing is to reduce costs by accessing lower labor costs in other countries.

• True

• False

A global strategy involves a high degree of centralization and standardization of products and services across different markets.

• True

• False

A multidomestic strategy emphasizes local responsiveness and adaptation to specific market needs.

• True

• False

A transnational strategy seeks a balance between global integration and local responsiveness.

• True

• False

Cultural differences and language barriers are not significant challenges in global operations.

• True

• False

The World Trade Organization (WTO) promotes free trade and reduces trade barriers between countries.

• True

• False

The North American Free Trade Agreement (NAFTA) is a regional trade agreement between the United States, Canada, and Mexico.

• True

• False

A company that pursues a cost leadership strategy focuses on offering products or services at a higher price than competitors.

• True

• False

The product life cycle concept can be applied to both goods and services.

• True

• False

Quality management is less important in global operations due to increased complexity and diversity.

• True

• False