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Many non-scientists confuse the terms hypothesis and theory. Explain the difference between the two terms and the interaction between hypothesis testing and the construction of theories in the scientific method.
Module: 1.1
Globalization on Business
The impact of increasing global interconnectivity on business operations, including expanded markets, diversified supply chains, and increased competition.
Just-In-Time (JIT)
A supply chain management strategy that aims to reduce inventory costs by receiving goods only as they are needed in the production process.
Manufacturing Company
A company that produces finished goods from raw materials through the use of labor and machinery.
Performance Reports
Documents that compare actual performance with budgeted or planned performance in various areas of an organization.
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