Emerging Ventures That Are Rapidly Expanding with Constantly Increasing Personnel

question 24

Multiple Choice

Emerging ventures that are rapidly expanding with constantly increasing personnel size and market operations will need

• A)less formal planning because of constant changes.
• B)to formalize planning because there is a great deal of complexity.
• C)to establish a pattern of subordinate participation.
• D)to evaluate company strengths and weaknesses.

Appreciate the concept of tender in fulfilling contractual obligations.

Distinguish between express, implied, and conditional contracts and their enforcement.

Understand how contractual obligations can be discharged by performance, operation of law, or other conditions.

Recognize the use and implications of liquidated damages clauses and conditions related to contract termination.

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Definitions:

Responsiveness

The ability or tendency of an entity or system to react to changes, stimuli, or feedback from the environment.

Complements

Products that are usually consumed jointly (for example, bread and butter, hot dogs and hot dog buns). A decrease in the price of one will cause an increase in demand for the other.

Consumption

The use of goods and services by households or individuals, typically relating to how these actions affect economic demand.

Market Demand

The total amount of a product or service that all consumers in a market are willing and able to purchase at various prices.