What Is the Most Likely Characteristic of a Firm That

question 45

Multiple Choice

What is the most likely characteristic of a firm that gains a first-mover advantage?

• A) government contractor
• B) significant capital
• C) natural resources
• D) niche marketer

---

Definitions:

Profit Responsibility

The obligation and accountability of individuals or departments within an organization to achieve financial targets and contribute positively to the company's overall profitability.

The Toyota Way

A set of principles and behaviors that underlie the Toyota Motor Corporation's managerial approach and production system, emphasizing continuous improvement and respect for people.

Continuous Improvement

An ongoing effort to improve products, services, or processes by making incremental improvements over time or significant improvements all at once.

Respect for People

The fundamental consideration and ethical treatment of individuals, recognizing their rights, diversity, and dignity.