A Collection of Independent Firms That Use Information Technology to Coordinate

question 76

Multiple Choice

A collection of independent firms that use information technology to coordinate their value chains to produce a product or service for a market collectively is called a(n)

• A) industry value chain.
• B) business ecosystem.
• C) value web.
• D) consortia.

Understand the concept and importance of flexible benefits programs for employees.

Recognize various strategies and components of base compensation and how they support organizational goals.

Identify different methods of performance appraisal and their application contexts.

Comprehend how flexibility in the workplace affects employee work-life balance.

---

Definitions:

Merchandise Inventory

Goods or products that a retailer or wholesaler has purchased and intends to sell to customers.

Periodic System

An inventory system where inventory levels are updated in the accounting records on a periodic basis, typically at the end of an accounting period, rather than after each purchase or sale.

LIFO Method

The "Last In, First Out" inventory valuation method, where the most recently produced items are recorded as sold first.

Inventory

The raw materials, work-in-progress products, and finished goods considered to be the portion of a business's assets that are ready or will be ready for sale.