By Focusing on What an Entrepreneur Does Best and Letting

question 40

Multiple Choice

By focusing on what an entrepreneur does best and letting others do the rest, the _____ strategy helps the business grow more rapidly, keeps unit costs down, and turns out new products more quickly.

• A) v ertical integration
• B) a lliance
• C) h orizontal integration
• D) process improvement
• E) circular integration

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Definitions:

Self-Directed Work Groups

Teams that operate with a high degree of autonomy, managing their own tasks and decision-making processes without direct supervision.

Global Competition

Global Competition refers to the scenario where businesses or nations compete against each other across international markets, vying for customers, resources, and market dominance.

Communication Technologies

Tools, platforms, and systems used to facilitate the exchange of information and messages among individuals or groups.

Business Ethics

The principles and standards that guide behavior in the world of business, ensuring fairness, transparency, and integrity.