In the Context of the Value Net, Identify the Definition

question 32

Multiple Choice

In the context of the value net, identify the definition of competitors.

• A)Individuals or organizations that make customers value an organization's output less because it offers its own product or service
• B)Individuals, groups, or organizations that provide important inputs for an organization
• C)People who promote the good or well-being of others
• D)Social entrepreneurs who creates something new through the combination of diverse and different elements

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Definitions:

Finishing Department

The final production stage in manufacturing where products undergo finishing processes, such as painting, polishing, or packaging, to prepare them for sale or distribution.

Labor Hours

The total number of work hours spent by employees on a given task or project.

Objective Function

Describes the formula or model that a decision-making process seeks to optimize.

Minimize Cost

The process of finding the strategy or path that leads to the lowest possible cost while satisfying all constraints and meeting all requirements.