Determining Where a Firm Should Compete Requires Management to Consider

question 82

Multiple Choice

Determining where a firm should compete requires management to consider which of the following factors?

• A) Determining the firm's current customers only
• B) Determining the firm's potential customers only
• C) Determining the needs of current and potential customers, as well as suppliers
• D) Determining the needs of potential suppliers only
• E) A and D only

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Definitions:

Eliminate Tasks

The process of removing or reducing unnecessary or unproductive tasks to improve efficiency.

Increasing Revenue

The process of growing the amount of money generated from a business's operations, typically by enhancing sales, expanding markets, or improving pricing strategies.

Decreasing Costs

The process of reducing expenses and outlays in a business in order to improve profitability and efficiency.

Deep-Level Diversity

Differences in verbal and nonverbal behaviors that are not as easily perceived because they lie below the surface, such as differences in attitudes, values, beliefs, and personality.