To Be Strategically Flexible on a Continuing Basis and to Gain

question 5

Multiple Choice

To be strategically flexible on a continuing basis and to gain the competitive benefits of such flexibility, a firm has to develop the capacity to:

• A)understand customer needs
• B)learn
• C)work closely with suppliers
• D)observe competitors carefully

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Definitions:

Defective Items

Refers to products or components that do not meet the quality standards or specifications set by the manufacturer or industry.

Simple Random Sample

An element of a statistical population where each member has an equal chance of being included.

Sample Proportion

The fraction of items in a sample that have a particular attribute, used as an estimate of the proportion in the full population.

Population Proportion

The ratio of members in a population who have a certain attribute to the total number of members in the population.