A ________ Orientation Refers to the Process of Determining the Wants

question 99

Multiple Choice

A ________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.

• A) market
• B) profit
• C) customer
• D) production

Comprehend how affiliation and attraction contribute to group bonding.

Explain the role of social comparison in group dynamics.

Identify personality traits that predict group joining behavior.

Understand the basic human needs satisfied by group membership.

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Definitions:

Corporate Form

A business structure where owners have limited liability, and the entity is recognized legally as separate from its owners.

Limited Liability

A legal structure for businesses that limits the personal financial responsibility of the owners for the company's debts and obligations.

Externalities

Financial repercussions impacting parties who are not directly involved, which may manifest as either beneficial or detrimental outcomes.

Sole Proprietorship

A business owned and operated by one person, where there is no legal distinction between the owner and the business entity.