Being in a Single Line of Business,you Do Not Need

question 79

Essay

Being in a single line of business,you do not need to develop a grand strategy or conduct a portfolio analysis.However,you should have an adaptive and competitive strategy based on the product life cycle.
Stage of the product life cycle
Adaptive and competitive strategies (explain each briefly)

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Definitions:

Progressive Rate

A tax system in which the tax rate increases as the taxable income increases.

Average Tax Rate

The proportion of total income that is paid in taxes, calculated by dividing the total amount of taxes paid by the taxpayer’s total income.

Tax Liability

The total amount of tax owed to the government by an individual, corporation, or other entity in a specified tax period.

Form 1040EZ

A simplified tax form for individuals with straightforward financial situations, allowing them to report income and calculate taxes owed.