CITM-001 Exam Dumps : Certified Information Technology Manager (CITM)

 An international strategy is much like the multinational strategy as there are autonomous local subsidiaries that operate independently from the headquarters. However, unlike the multidomestic strategy, the international strategy does not involve extensive customization of products and services to local markets. Instead, the international strategy relies on offering a standardized product worldwide with little or no change. The international strategy is suitable for firms that face low pressure for global integration and low pressure for local responsiveness. Examples of firms pursuing an international strategy are Harley Davidson, Starbucks, and Rolex. References: International Business Strategy EXPLAINED with EXAMPLES | B2U, 9.4 Types of International Strategies – Strategic Management

Globalization is the process of increasing economic, political, and cultural integration and interdependence across the world. Some of the impacts of globalization are:

• Rationalized manufacturing: Globalization enables firms to produce goods and services in different locations according to their comparative advantages, such as lower costs, higher quality, or better access to markets. This leads to more efficient and competitive production, as well as increased specialization and trade.
• Managing risk across currencies: Globalization exposes firms and individuals to fluctuations in exchange rates, which affect the value of their assets, liabilities, and incomes. To manage this risk, they may use various financial instruments, such as hedging, derivatives, or currency swaps, to reduce their exposure or benefit from favorable movements.
• Worldwide purchase: Globalization expands the range and availability of goods and services that consumers can purchase from different countries and regions. This increases consumer choice, lowers prices, and improves quality and variety. It also creates opportunities for cross-cultural learning and exchange.

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Functional design is a design approach that focuses on the functionality and performance of a system, rather than its structure or appearance. Functional design usually begins with specifying the desired output, such as the goals, objectives, and requirements of the system, and then derives the input, processes, and data needed to achieve the output. Functional design can be applied to various types of systems, such as software, hardware, or business processes. Functional design is often contrasted with other design approaches, such as organizational design, object-oriented design, and structured design, which have different emphases and methods. References:

• System Analysis & Design - System Design1
• Process models in design and development2
• B. Engineering Design3