Market-Driven Firms Attempt to Match Their Resources, Skills, and Capabilities

question 12

Multiple Choice

Market-driven firms attempt to match their resources, skills, and capabilities with:

• A)competitive intelligence.
• B)customers needs that are not currently being served adequately.
• C)derived demand.
• D)the needs of upstream suppliers.

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Definitions:

Employer Payroll Taxes

Taxes that employers are required to pay on behalf of their employees, which may include Social Security, Medicare, and unemployment taxes.

Gross Earnings

Total compensation earned by an employee.

Direct Labor Hour

A measure of labor input, which is the time spent by workers directly manufacturing a product.

Direct Materials

Direct materials are raw materials that are directly used in the manufacturing process of a product and are easily traceable to it.