Although a _____ Allows Managers to Take the Business Concept

question 79

Multiple Choice

Although a _____ allows managers to take the business concept beyond the idea stage,it doesn't accomplish the actual work.

• A)plan
• B)vision
• C)mission
• D)goal

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Definitions:

Diversification

The process of a business enlarging or varying its range of products or field of operation to reduce risk and increase profit.

Market Penetration

Strategies aimed at increasing the market share of a product or service within existing markets.

Diversification

A strategy to reduce risk by allocating investments or focusing efforts across various financial instruments, industries, or other categories.

Product Development

The process of conceptualizing, designing, creating, and bringing a new product or service to market.