The Global Economy

1112 Words Oct 18th, 2015 5 Pages
Without the internet, it may be fair to say that the global economy we know of today would conceivably collapse. Where the internet makes it easy to order products and supplies for consumers and retailers all over the world that convenience would obviously be lost if the internet would cease to exist and import and export markets throughout the globe would surely crumble. Some may see this view as a dramatic interpretation, but just thinking about all of the products and services that are managed by the use of the internet today, it really sheds light on how dependent the world actually is on it.
3. Contrast differentiation and low cost strategies (noting that many firms use a mixture of both). What characteristics of an industry, firm, product and/or customers might tend to encourage a firm to employ a differentiation strategy? What are some of the dangers or commonly made mistakes of using this strategy? Similarly, what characteristics of an industry, firm, product and/or customers might tend to encourage a firm to employ a low cost strategy and what are some of the dangers or commonly made mistakes of using that strategy? Which (or which mixture) does your firm use and why? Which strengths is it drawing upon and/or which competitor weakness is it attacking? How does the nature of the industry – its products or services, its relevant driving forces, etc. – tend to encourage the use of a particular strategy, if at all?

• Firstly it is important to differentiate…
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