In Determining the Industry Within Which a New Business Will

question 8

True/False

In determining the industry within which a new business will compete, an entrepreneur should seek to be as generalist in his or her approach as possible.

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Definitions:

Full-Function Merchant Wholesaler

A wholesaler that provides a range of services including stocking inventory, operating warehouses, and offering credit to retailers.

Logistics

Process of coordinating flow of goods, services, and information among members of the supply chain.

Supply Chain

Complete sequence of suppliers that contribute to creating a good or service and delivering it to business users and final consumers.

Physical Distribution

Actual movement of products from producer to consumers or business users.