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true or false Location advantages include things like natural resource seeking, market seeking, efficiency seeking, and...

true or false

Location advantages include things like natural resource seeking, market seeking, efficiency seeking, and innovation seeking.

true or false

Firms must be aware of culture distance and institutional distance between cultures.

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Answer #1

Location advantage is advantages enjoyed by a firm that derive from the places in which it operates. These can be advantages such as the natural resources or its labor resources. It can also be its location around particular markets which provide certain advantages to businesses there.

TRUE

Cultural distance: difference between two cultures along identifiable dimensions. Ex: individualism. It is a subset of institutional distance.

Institutional distance: similarity or dissimilarity between regulatory, normative, and cognitive institutions

Firm must be aware of these because they play important role in international strategy through which the firm sells its goods or services outside its domestic market.

TRUE

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