Theodore and Janice Have Formed TJ Soft, an Entrepreneurial Venture

question 10

Multiple Choice

Theodore and Janice have formed TJ Soft, an entrepreneurial venture to develop games and other kinds of software for consumers.Theodore has just read an article that says that the low interest rates that currently prevail are likely to end in the coming months.Theodore thinks that TJ Soft may need to apply for a loan now to avoid high costs later.Which component of the external environment will affect TJ Soft the most in this situation?

• A)the global component
• B)the sociocultural component
• C)the economic component
• D)the technological component

Understand the concept of interpersonal communication barriers and their impact on communication.

Recognize the significance and effects of physical barriers in communication.

Identify the role and implications of informal communication networks, such as grapevines, in organizations.

Comprehend the importance of channel richness in effective communication.

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Definitions:

Marketing and Sales Strategy

The comprehensive plan comprising tactics and methods used by a business to promote, sell, and distribute its products or services.

Strategic Fit

The alignment between an organization's strategy and its external environment, as well as its internal resources and capabilities.

Responsiveness Spectrum

(new definition) Refers to the continuum of adaptability levels a company can exhibit, from highly reactive to changes in the market to relatively unresponsive.

Product Development Strategy

A plan of action for creating new products or improving existing ones to meet market demands and achieve competitive advantage.