When a Firm Is Focusing on Its Core Competencies, It

question 26

Multiple Choice

When a firm is focusing on its core competencies, it is engaging in which trend:

• A) Sustainability
• B) Financial supply chain
• C) Lean initiatives
• D) Risk management
• E) Outsourcing

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Definitions:

Suppliers

Businesses or individuals that provide goods or services to another entity under terms specified in a contract.

Factors of Production

The resources utilized in the production of goods and services, traditionally categorized into land, labor, and capital.

Circular-Flow Model

A model that illustrates the movement of resources and money between firms and households in an economy.

Capital

Wealth in the form of money or other assets owned or employed in business by an individual, firm, or country.