Companies are finding that to survive they must contend in international markets as well as fend off foreign competitors' attempts to gain ground in the United States. What would help businesses in the United States meet these challenges?
A) They must focus on developing domestic markets rather than on developing global markets.
B) They must hire only from a domestic labor pool.
C) They must prepare employees for global assignments.
D) They must eliminate reshoring-reestablishing operations in North America.
E) They must reduce the workforce with a "grenade" approach-by eliminating an entire group of employees.

Question

Quizplus · Accepted Answer

To compete in international markets and fend off foreign competition, businesses in the United States must prepare their employees for global assignments. This involves training them in cultural awareness, language skills, and international business practices. By doing so, employees are better equipped to work effectively with international partners and customers, and businesses can expand their operations abroad. Focusing only on domestic markets (choice A) is shortsighted, as many industries are experiencing increased competition from foreign companies. Hiring only from a domestic labor pool (choice B) limits a business's talent pool and may not provide the diversity and global perspective needed to succeed in international markets. Eliminating reshoring (choice D) may actually make a business less competitive, as the reshoring trend is motivated by a desire to reduce supply chain risks and improve flexibility. The "grenade" approach (choice E) is not a viable long-term strategy and could lead to a loss of talent and expertise.

Companies Are Finding That to Survive They Must Contend in International