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Companies that assume a high degree of class consciousness are better able to establish a competitive advantage in the global economy.

Strategic planning is important because it:

Cost leadership strategies aim to:

A firm’s core competencies refer to those activities that are easily matched by competitors.

Organizational structure determines:

Pegged exchange rates are most popular in larger, developed nations.

A localization strategy focuses on mass production of products to meet general tastes and preferences.

The architects of the Bretton Woods agreement wanted to avoid high unemployment, so they built the fixed exchange rate system and eliminated any flexibility.

Learning effects have less impact when the task is technologically complex.

Under a fixed exchange rate system, a country’s ability to expand or contract its money supply as it sees fit is limited by the need to maintain exchange rate parity.