An Example of a Core Competence of a Firm Is

question 50

Multiple Choice

An example of a core competence of a firm is ________.

• A)an ability to serve the needs of a particular target market on a large scale
• B)communicating with customers in their own languages worldwide
• C)developing break-even point analysis in reviewing product contribution
• D)both A and B
• E)all the above

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Definitions:

Prime Costs

The combined direct costs of raw materials and labor that are directly involved in the production of a product.

Indirect Material

Materials used in the manufacturing process that are not directly incorporated into the final product, such as lubricants and cleaning supplies.

Direct Labor

The labor costs directly associated with the manufacturing of products, including wages of workers who are actively involved in the product's creation.

Direct Materials

Raw materials that can be directly attributed to the production of a product and are an essential part of the finished product.