Asked by Kasongo Alain on May 23, 2024
Verified
Small businesses feel pressure to meet the high international standards of the foreign market, and of the huge multinational companies that dominate the economy.
International Standards
Agreed-upon norms and criteria developed by global organizations to ensure quality, safety, and efficiency.
Multinational Companies
Corporations that own or control production of goods or services in one or more countries other than their home country.
- Understand the impact of international standards and multinational companies on small businesses.
Verified Answer
QN
Queen NatalieMay 29, 2024
Final Answer :
True
Explanation :
Small businesses often face pressure to meet the same standards as large multinational corporations in order to compete in the international market.
Learning Objectives
- Understand the impact of international standards and multinational companies on small businesses.