A Firm Is in Business To

question 7

Multiple Choice

A firm is in business to:

• A) Create value for its stakeholders
• B) To compete in their market
• C) To create new concepts and ideas to gain an advantage over competitors
• D) All the above

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Definitions:

Indirect Costs

Indirect Costs are expenses that are not directly linked to a specific project or product but are necessary for the general operation of a business, such as rent, utilities, and administrative salaries.

SWOT Analysis

A method of determining internal strengths and weaknesses and external opportunities and threats.

Strengths and Weaknesses

An assessment of the positive attributes and areas for improvement within an organization, project, or process, often used in strategic planning.

Maquiladoras

Mexican factories located along the U.S.–Mexico border that receive preferential tariff treatment.