A Firm Can Exercise Greater Control Over Its Suppliers by Having

question 62

Multiple Choice

A firm can exercise greater control over its suppliers by having:

• A)more suppliers.
• B)fewer suppliers.
• C)global suppliers.
• D)local suppliers.
• E)only a single supplier.

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Definitions:

Existing Customers

Individuals or entities that have previously purchased or currently use a company's products or services.

Growth Strategies

Plans implemented by organizations to increase their size, revenue, or market share through diversification, market penetration, product development, or market development.

Ansoff Matrix

A framework used to identify a company’s strategic options for growth by assessing products and markets.

Markov Model

A statistical model that predicts future states based on the current state, often used in machine learning and economic forecasting.