A Fundamental Activity for Global Small Business Success Is

question 68

Multiple Choice

A fundamental activity for global small business success is

• A) avoiding rigid planning that commits the firm's resources to a single plan of action.
• B) finding international markets that fit the company's unique potential.
• C) figuring out which of the firm's competitors is capable of copying its strategy.
• D) tapping government programs that provide incentives for international expansion.

Analyze the advantages and disadvantages of individual vs group decision making.

Grasp the concept and application of design thinking in creative decision making.

Identify and understand various types of sensor technology, including thermocouples and encoders.

Recognize and apply basic PLC (Programmable Logic Controller) programming instructions such as OTE, OTL, and XIC.

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Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operational costs, have been subtracted from its total revenue.

Cost of Goods Sold

Direct spending associated with producing the merchandise a company trades, including both materials and manpower costs.

Worksheet

A columnar device used by accountants to aid them in completing the accounting cycle—often just referred to as "spreadsheet." It is not a formal report.

Revenue

The total income received by a company from its normal business activities, before any expenses are subtracted.