Review LEC1P2Q1

2. The country where a multinational company establishes operations.
6. Rivalry among businesses trying to attract the same customers.
8. Hiring another business to perform business activities.
9. STEEPLE factor involving innovation, automation and new technology.
13. A tax placed on imported goods.
14. STEEPLE factor concerning sustainability, climate change and natural resources.
16. Individuals or groups affected by business decisions.
18. Buying a business closer to the final customer in the supply chain.
19. The value of one country's currency compared with another.
21. An agreement allowing another business to produce or sell a product in exchange for royalties.
22. A government restriction that limits international trade.
24. STEEPLE factor involving moral principles and responsible business behaviour.
25. A business that operates in more than one country.
28. The combined effect that makes two businesses more valuable together.
29. Increased average costs caused by excessive business growth.
30. An Ansoff strategy involving new products in new markets.
31. The country where a multinational company is headquartered.
32. Producing goods or services with the least possible waste of resources.
33. An agreement where two businesses work together while remaining independent.
34. When a business invests directly in operations in another country.

1. Purchasing another business to achieve external growth.
3. STEEPLE factor related to demographics, lifestyles and cultural trends.
4. A growth method where a business allows others to use its brand and business model.
5. A business grows by acquiring or merging with a competitor.
7. Government policies that protect domestic businesses from foreign competition.
10. Shared beliefs, values and customs that influence consumer behaviour.
11. Buying a supplier to gain greater control over inputs.
12. STEEPLE factor including inflation, unemployment, exchange rates and economic growth.
15. STEEPLE factor involving laws and regulations affecting businesses.
17. An Ansoff strategy of increasing sales of existing products in existing markets.
20. The increasing integration of economies, cultures and markets worldwide.
23. Two businesses combine to form a single organization.
25. An Ansoff strategy involving selling existing products in new markets.
26. STEEPLE factor involving government policies and political stability.
27. Cost advantages gained from operating on a larger scale.