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Satellite Communications Jonathan Worked for Satellite Communications for Twenty Years. in the in the Time

question 51

Multiple Choice

Satellite Communications
Jonathan worked for Satellite Communications for twenty years. In the time that he worked there, he learned a lot about the company and how it operated. The company met its sales and revenue goals every year. However, most of the employees had similar educational and cultural backgrounds. He believed that the company could do much better if it cultivated an environment that promoted many different ideas. Additionally, Satellite Communications was mostly focused on how much revenue it earned in a given year. Jonathan felt that the most important goal should be to satisfy customers. He believed financial success would result from focusing on customers.
After a lot of consideration, Jonathan decided to open his own business called Universal Communications and hire employees that reflected a more diverse customer base. He was happy to have this opportunity because it was a dream that he had always had. He had always wanted to make his own decisions about what his company would produce and how. The only aspect of the business he was unsure of was pricing, yet he knew this would be important for his ultimate success.
-Refer to Satellite Communications. Jonathan is operating in a ____ because he has the opportunity to decide what and how to do things.

Definitions:

Estimated Cost

An approximation of the financial outlay required to complete a project, acquire a service, or purchase goods, often used in budgeting and planning.

Inventory

A company's inventory of products and materials, accumulated for selling or using in production.

March 31

A specific date marking the end of the first quarter in a calendar year.

Physical Inventory

Physical inventory entails a manual count of all the tangible goods or merchandise kept in a business's possession for the purpose of verifying records and ensuring accuracy in financial statements and records.