Due to the complexity and diversity of foreign markets,firms sometimes hesitate to seek export opportunities.These firms can best overcome ignorance by
A)shortening production runs.
B)creating revenue.
C)outsourcing decisions.
D)collecting information.
E)lowering unit costs.

Question

Quizplus · Accepted Answer

The best way for firms to overcome ignorance and hesitation in seeking export opportunities is by collecting information. This may include market research, understanding cultural differences, and assessing competitors in foreign markets. Shortening production runs, creating revenue, outsourcing decisions, and lowering unit costs may be helpful strategies for firms in other contexts but are not specifically relevant to addressing ignorance about foreign markets.

Due to the Complexity and Diversity of Foreign Markets,firms Sometimes