... accounting standards and Chapter 1 Introduction to Cost and Management Accounting in a Global Business Environment73Robert B. Hubbard, “Return of the Cost Accounting Standards Board,” Management ... technologies, current and fu-ture competitors, and operating environments. This knowledge helps managers to respond proactively to new market opportunities and to competitors’ actions. Muchof ... the auto industry. An auto maker’s ca-pacity to develop new cars and trucks quickly can giveit an edge in responding to swings in customer demand.In the 1990s, for example, GM’s inability to...