Select the Best Answer

question 20

Multiple Choice

Select the best answer. Success is fundamentally linked to

• A)a soundly formulated strategy and luck.
• B)an effectively formulated strategy and a strong awareness of the rivals' strengths.
• C)a clear understanding of the environment and strong political skills.
• D)a soundly formulated and effectively implemented strategy.

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Definitions:

Homeshoring

A practice where businesses hire employees to work from home or a remote location rather than in a traditional office setting, often used as an alternative to offshoring.

Reshoring

The process of bringing back manufacturing and services to a country from overseas to strengthen the local economy and reduce reliance on foreign suppliers.

Minimum Efficient Scale

The smallest production quantity at which the long-run, total average cost is minimized.

Economies of Scale

Refers to the cost advantage that arises with increased output of a product, leading to a reduction in the per-unit cost.