Understanding the Structure of the Industry Helps Managers to Work

question 16

True/False

Understanding the structure of the industry helps managers to work out how to make a profit in future and to possibly identify ways to change the industry structure to their advantage.

---

Definitions:

Production Line

An orderly sequence of workstations or machines used to assemble a product in a systematic and efficient manner.

Production Process

The systematic series of actions or steps designed to create and produce a product or service.

Daily Attendance

The record or the act of keeping track of the presence or participation of individuals, such as students or employees, on a daily basis.

Confidence Coefficient

The confidence level expressed as a decimal value. For example, .95 is the confidence coefficient for a 95% confidence level.