Best Tools, a Manufacturing Company, Needs to Cut Costs to Remain

question 3

Multiple Choice

 Best Tools, a manufacturing company, needs to cut costs to remain competitive. The manager of the company believes that the answer lies in finding more efficient processes and is using time and motion studies to see where improvements can be made. This shows that the manager of Best Tools is using _____ to make strategic changes.

• A) technical skills
• B) contingency approach
• C) contextual intelligence
• D) scientific management

Analyze the value and types of inventory in business purchases.

Recognize the financial mechanisms available for purchasing a business.

Appreciate the unique dynamics and considerations in family-owned businesses.

Understand the role of different settlement entities in closing business transactions.

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Definitions:

Transaction

A transaction is an agreement between a buyer and a seller to exchange goods, services, or financial instruments.

Black Rhinos

A critically endangered species of rhinoceros native to eastern and southern Africa, known for their distinctive hooked lip.

Eco-Tourism

Responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and involves interpretation and education.

Extinction

The process by which a species, genus, or family of organisms ceases to exist through death or inability to reproduce in its natural environment.